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Leading Economist: “We’re In a No Win Situation… This Is End of the World Type Stuff” *Video*
If you’re not yet convinced that the path we’re on leads to catastrophe, then consider watching the following interview with Daniel Ameduri (Future Money Trends) and John Williams (Shadow Stats). Ameduri asks the questions no mainstream reporter would dare to ask about the state of our economic, financial and monetary system and what the end result will look like. Economist John Williams responds by laying out a grim picture of how we got here and the impact we’ll soon experience in every facet of our lives.
This is an interview that shouldn’t be missed.
One of the leading experts on statistical analysis and economic theory in our country is giving us an outline of what’s coming and how to get ready for it.
Williams: We’re in a no win situation. This is end of the world type stuff.I hate to say that.
Go back to September of 2008. The system was on the brink of collapse. That was in the end of the world as we know it – the financial world. They pulled out every stop-gap measure that they could. They graded whatever they had to do to keep the system afloat. That’s the type of environment we’re dealing with.
We’ve been living through some replays of that, nothing quite as serious. The end of the line fundamentals are not getting better. You’re in a situation now where the rest of the world increasingly has lost its confidence in the US dollar.
Ameduri: When you’re looking at this hyperinflation, when you’re preparing, how long are you actually expecting the chaos part to last?
Williams: I can’t tell you how long it’s going to last. I can tell you it’s likely going to be very disruptive to our lifestyles because we don’t have any backup systems to the dollar.
Ameduri: Are utility workers going to show up for work when if we’re in hyperinflation? Their checks are going to be worthless…
Williams: It depends how creative people get. You also have a chance of seeing disruption to supplies to grocery stores. And if food’s not on the shelves, it’s one of the fastest ways of turing to civil unrest.
What I would look to do is have a backup supply of at least several months of the basic commodities you need to live with – canned food, toilet paper, as well as barter items…
You want to be able to be prepared as you might be for a natural disaster…I think people should have supplies not only for natural disasters, but man-made disasters. And just to keep rotating your stock.
In this type of environment where nobody can get a safe return on their money within the United States that beats the official rate of inflation, buying canned foods and such is actually a better investment than a Treasury bill.
Ameduri: What’s the breaking point where we actually see that loss of faith in the currency?
Williams: Well, I think we’ve already passed it. We’re not seeing heavy dollar selling right now, but if you look at the global market response to what was being done in Washington, that was a loss of confidence…. They’re not going to let a systemic collapse happen so long as they can get away with what they’re doing and the markets allow them to do it.
Moving further down the road to the hyperinflation, it buys them time. That’s all it does. They don’t have a solution.
…Eventually you’ll see a collapse here of the dollar where the dollar becomes worthless. For people living in a dollar denominated world that means that the purchasing power of their primary currency is going to disappear. They need to protect themselves or to protect the purchasing power of their assets.
The proximal trigger for the big problem we have ahead, I believe, will be a massive sell off of the dollar. I can’t tell you exactly when it’s going to happen. It can be triggered by any number of things from a resolution of the Euro crisis to the next round of Fed easing whatever that will be.
We’re moving in a direction that clearly indicates you don’t want to be in the US dollar.
Watch the video via Future Money Trends:
Related Reading:
Hyperinflation: Disruptions to Food Supplies, Normal Flow of Commerce
Hyperinflationary Depression – No Way of Avoiding Financial Armageddon
What is money when the system collapses?
The Money of Kings, Gentlemen, Peasants, and Slaves
This article has been contributed by SHTF Plan. Visit www.SHTFplan.com for alternative news, commentary and preparedness info.
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Hilarious! Brilliant! Best parody of the paradigm ever! ~SMIRK~ This may be hard to believe for those who have exorbitant amounts of money but…The world will not end, even if all the money and shiny things, shuffled loose the mortal coil. Money is a lie, maybe we would pick ourselves up, dust ourselves off and get back to work making this beautiful rock we are hurtling thru the cosmos on, a little bit better for all.
Enjoy your brief time here and don’t fret about such esoteric ideals; for some reason the world just “keeps spinnin’ round and round.”