Ambrose Evans-Pritchard: America will survive the errors of Ben Bernanke's trigger-happy Federal Reserve

By Ambrose Evans-Pritchard
The Telegraph
Nov. 08, 2010

This is delusional.

This is not just another depression, the US is facing hyperinflation and total collapse. The US raising rates to 21.5% as Paul Volcker did is no longer an option, our government is far too indebted to do such a thing, it's either hyperinflate or default.

It's in the government's best interest to hyperinflate their way out of their debt, it's in the people's best interest to have the government default and officially go bankrupt.

Obviously the government will act in it's own best interests and run the printing press full bore, they already have begun to do just that, hence gold at $1410.

Keep in mind Pritchard supported the bailout and later "apologized." Unfortunately, we'll probably have to wait 10-20 years before he admits he was wrong on this too. - Chris, InfoLibIn the end, America is a resilient nation, with far healthier demographics than China, Japan, Korea, Germany, Italy, or Russia. The storm will blow over just as it did after President Nixon closed the gold window in 1971, smashed the Bretton Woods system, and let the dollar go to hell.

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