“The Fed Has Lost Control” — John Williams Warns of Hyperinflation in 2022
The comments below are an edited and abridged synopsis of an article by Greg Hunter
Economist John Williams, founder of ShadowStats.com, says the Fed has painted itself into such a tight corner with the economy that it really has only two choices. According to Williams, it comes down to inflation or implosion.
Williams discusses what would happen to the financial system if the Fed stopped printing massive amounts of money, and addresses the choice of inflation or implosion.
When the Fed has to admit that the official inflation rate is 10%, Williams says his number is going to be 15% or higher.
Right now, the Shadowstats.com inflation rate is above 11%; that’s if it were calculated the way it was before 1980 when the government started using accounting gimmicks to make inflation look less than it really is. The Shadowstats.com number cuts out all the accounting gimmicks and is the true inflation rate that most Americans are seeing right now, not the official 4.25% recently reported.
Williams says the best way to fight inflation is to buy tangible assets. “Canned food is a tangible asset, and you can use it for barter if you have to… Physical gold and silver is the best way to protect your buying power over time.” Gold may be expensive for most, but silver is still relatively cheap.
When will the worst inflation hit America? “I am looking down the road, and in early 2022, I am looking for something close to a hyperinflationary circumstance and effectively a collapsed economy,” said Williams.