In this audio interview, John Embry, chief investment strategist for Sprott Asset Management, tells King World News why he believes hyperinflation is a certainty.
Blogger Gonzalo Lira has also published a disturbing piece detailing what the effects of hyperinflation in the U.S. would be.
He used as an example one of the modern instances of hyperinflation — Chile under the government of Salvador Allende.
The currency became worthless, and when consumer goods ran out and were rationed, people perceived as unfriendly to the government received insufficient rations or none at all.
A black market soon arose, which accepted only foreign currency. The economy collapsed completely as people cashed out their assets to buy basic goods and staples on the black market.
In the U.S., the blog predicts a slightly different path to the same destination:
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