John Williams Warns Hyperinflationary Great Depression Coming
The comments below are an edited and abridged synopsis of an article by Greg Hunter
Economist John Williams doesn’t think a Covid-19 vaccine will get the economy back to normal anytime soon.
Because there has been so much economic damage, Williams said there will have to be stimulus no matter who eventually makes it into the White House.
If Trump is re-elected, he will increase stimulus to help the economy and the public. If Biden is elected, he will do the same. He is already promising massive stimulus. If the Democrats take control of the House, the Senate and the White House, the stimulus will be unbelievable.
Whoever is elected, there will be more deficit spending. It’s just a matter of how radical it will be. There is no way to escape massive stimulus for at least the next year.
Williams expects a lot of inflation because of all the stimulus coming and predicts, “The more left we go, the more rapid will be the demise of the dollar. Eventually, it will be a hyperinflation in the United States… What I am looking at here is this evolving into a hyperinflationary Great Depression.”
People must preserve their wealth. Williams says the smart way to do this is to convert dollars into physical gold and silver, and just hold them. They will retain value over time as opposed to paper dollars that will effectively become worthless. People will be getting a lot of money from the government, but that means rising inflation.
“Hyperinflation will bring political disruption… Hyperinflation is a form of default. Gold is telling us hyperinflation is straight ahead of us.”
“When the Fed finally gets the more than 2% inflation it wants,” said Williams, “the real inflation will be 12% to 15%… Hyperinflations happen quickly.”