Video: G. Edward Griffin Says Hyperinflation Going to Happen in US
What will the next financial calamity look like to the man on the street? G. Edward Griffin, author of “The Creature from Jekyll Island,” explains, “The main mechanism that people will feel most directly will be the loss of value or purchasing power for their currency. The dollar will buy less and less and less as it has been doing, but it’s been sort of gradual and we get used to it. . . . When you look at the real cost of living, inflation is really pretty high now, but you haven’t seen anything yet compared to when the rest of the world does what it is now saying it is going to do. They are going to stop using the Federal Reserve Note as the international reserve currency. When they stop that, then we have no place to get rid of all these extra dollars we make up in the digital printing press. . . . When that stops, all those trillions and trillions of dollars that we have put overseas will come back to us because the people who hold them, like China for example, will say we can’t use these. Then they will use them to buy up anything they can here. They’ll buy our products . . . but they’ll also buy up our stocks and bonds and real estate. They’ll buy up our politicians or anything else that is for sale to get rid of those dollars as quickly as possible. When that happens all of these dollars will be flooding through our economy. You could say the price of a loaf of bread will be $100, and that is the kind of thing we will see and it maybe even worse. It will be just like we saw in Zimbabwe or Germany in the Weimar Republic. These things happen in history . . . and the United States is not exempt of the laws of economics. It is going to happen here. All is not lost, according to Griffin, and it starts with something he calls “The Creed of Freedom.” Griffin is working on global solutions to this massive bad leadership problem. Join Greg Hunter as he goes One-on-One with economic and geopolitical expert G. Edward Griffin.