Investing in Precious Metals 101 Ad

Is Hyperinflation Possible?

Login or register to post comments Last Post 6804 reads   15 posts
Viewing 5 posts - 11 through 15 (of 15 total)
  • Thu, Aug 26, 2010 - 04:34pm

    #11
    Peak Prosperity Admin

    Peak Prosperity Admin

    Status Bronze Member (Offline)

    Joined: Oct 31 2017

    Posts: 1614

    count placeholder

    Re: Is Hyperinflation Possible?

I know about John Williams, and I think he has become a bit senile in his older years. He had some credibility until he fell in line with the other gold bugs who insist hyperinflation will happen. What’s funny is that apparently, Williams is not regarded seriously by pros because he has received all the credit for discussing manipulated gov data when Stathis devoted an entire chapter to it in his 2006 book. The media stays away from real experts who aren’t pro-Wall Street or gold bugs. They want extremists, not guys who can help us. They bring in extremists with no credibility so at the end of the day, the audience will go back to Wall Street because a stock market bull is better than a stock market bear since the market goes up over the long run.

As for Financial Sense, they’re all gold bugs. Stathis mentioned that he used to post articles there, but they banned him and removed all his stuff after he wrote the truth about gold and how hyperinflation wasn’t possible. He also said they used “subtle forms of discrimination” against him. He suspects it’s because he isn’t Jewish. Have a look at the FSN contributors and count how many are Jewish, then count how many are gold bugs, then see who they highlight. Forget track records, lack of bias and credibility, if you aren’t Jewish, you aren’t getting any media exposure. Just look at the TV, newspapers, and even the big online sites.

There isn’t a single person on that website that isn’t somehow tied into gold, either as a dealer or marketer working with dealers. You’ll get the same kind of views from kitco.com and every other gold site. That’s like watching CNBC if you want to find out what’s going on in the stock market. Bias breeds deceit and lies. And bias is always tied to money as far as financial reporting goes.

Finally, I’m still waiting for you to address the points I raised in the previous post. You keep pointing me to this guy and that guy without responding to my points. Meanwhile, it seems like you haven’t taken the time to check out Stathis, which is a shame. There’s a good reason he’s been banned throughout the media and internet. His record is second to none and he has no agendas. That means he isn’t going to make the gold bugs or the bull market guys happy, and if you don’t do that, they will shut you out because it’s all about selling ads; gold ads, ads for Wall Street firms and online brokers. It’s also about pumping up gold and stocks. If you’re always looking for people to reinforce your beliefs, you don’t stand much of a chance in the investment game.

So, I ask two things. Address the points I made in the previous post. If you aren’t able to, bring the geniuses in from gold bug sites to help. Second, check Stathis’ full track record and compare it with everyone else’s, then see if what he says can be relied on. Hey, I made a boatload of money listening to him since 2007, but I’m a Devil’s advocate at heart and I always consider other views. But right now I don’t see anything that can sway me from his belief that hyperinflation aint gonna happen, not in the US anyway. We will have a good amount of inflation, but it won’t be hyperinflation. Even if we did, gold doesn’t protect against it. The best hedge against inflation are raw commodities and the very best is oil.

I owned gold a few years ago. Stathis predicted its rise. He was in it since 2002. When he got out last year so did I. He says gold is likely to go higher but the bubble will eventually burst. When it does, he says it’s going to head to $300-$400, and I’m inclined to believe it.

  • Thu, Aug 26, 2010 - 04:53pm

    #12
    Peak Prosperity Admin

    Peak Prosperity Admin

    Status Bronze Member (Offline)

    Joined: Oct 31 2017

    Posts: 1614

    count placeholder

    Re: Is Hyperinflation Possible?

[quote=ed2011]I know about John Williams, and I think he has become a bit senile in his older years. He had some credibility until he fell in line with the other gold bugs who insist hyperinflation will happen. What’s funny is that apparently, Williams is not regarded seriously by pros because he has received all the credit for discussing manipulated gov data when Stathis devoted an entire chapter to it in his 2006 book. The media stays away from real experts who aren’t pro-Wall Street or gold bugs. They want extremists, not guys who can help us. They bring in extremists with no credibility so at the end of the day, the audience will go back to Wall Street because a stock market bull is better than a stock market bear since the market goes up over the long run.

As for Financial Sense, they’re all gold bugs. Stathis mentioned that he used to post articles there, but they banned him and removed all his stuff after he wrote the truth about gold and how hyperinflation wasn’t possible. He also said they used “subtle forms of discrimination” against him. He suspects it’s because he isn’t Jewish. Have a look at the FSN contributors and count how many are Jewish, then count how many are gold bugs, then see who they highlight. Forget track records, lack of bias and credibility, if you aren’t Jewish, you aren’t getting any media exposure. Just look at the TV, newspapers, and even the big online sites.

There isn’t a single person on that website that isn’t somehow tied into gold, either as a dealer or marketer working with dealers. You’ll get the same kind of views from kitco.com and every other gold site. That’s like watching CNBC if you want to find out what’s going on in the stock market. Bias breeds deceit and lies. And bias is always tied to money as far as financial reporting goes.

Finally, I’m still waiting for you to address the points I raised in the previous post. You keep pointing me to this guy and that guy without responding to my points. Meanwhile, it seems like you haven’t taken the time to check out Stathis, which is a shame. There’s a good reason he’s been banned throughout the media and internet. His record is second to none and he has no agendas. That means he isn’t going to make the gold bugs or the bull market guys happy, and if you don’t do that, they will shut you out because it’s all about selling ads; gold ads, ads for Wall Street firms and online brokers. It’s also about pumping up gold and stocks. If you’re always looking for people to reinforce your beliefs, you don’t stand much of a chance in the investment game.

So, I ask two things. Address the points I made in the previous post. If you aren’t able to, bring the geniuses in from gold bug sites to help. Second, check Stathis’ full track record and compare it with everyone else’s, then see if what he says can be relied on. Hey, I made a boatload of money listening to him since 2007, but I’m a Devil’s advocate at heart and I always consider other views. But right now I don’t see anything that can sway me from his belief that hyperinflation aint gonna happen, not in the US anyway. We will have a good amount of inflation, but it won’t be hyperinflation. Even if we did, gold doesn’t protect against it. The best hedge against inflation are raw commodities and the very best is oil.

I owned gold a few years ago. Stathis predicted its rise. He was in it since 2002. When he got out last year so did I. He says gold is likely to go higher but the bubble will eventually burst. When it does, he says it’s going to head to $300-$400, and I’m inclined to believe it.
[/quote]I don’t even know where to start?

  1. The Puplava’s who run FSN gave me the impression of being Christian people. Personally I have friends of about every religion and many agnostic or atheists. I really fail to see what point you are making about Jews? How exactly does religion have anything to do with economics or economic writing contributers?
  2. I have addressed your merits with merits that I have.
  3. Holding raw commodities? Well I have 3 freezers packed with a dead cow, I have chickens and a garden. I don’t think I’m going to take delivery of an oil contract – though I wish I had bought into my families heating an oil business years ago.
  4. Let me leave you with this to mull over, and if you think we are going to get anything but a snap into hyperinflation than that is your thoughts and I’m not going to beat the dead horse…

Remarks by Governor Ben S. Bernanke 

Before the National Economists Club, Washington, D.C.

November 21, 2002 

Deflation: Making Sure “It” Doesn’t Happen Here 

“But suppose that, despite all precautions, deflation were to take hold in the U.S. economy and, moreover, that the Fed’s policy instrument–the federal funds rate–were to fall to zero. What then?” 

The conclusion that deflation is always reversible under a fiat money system follows from…the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services.

 We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation.” 

http://www.federalreserve.gov/BOARDDOCS/SPEECHES/2002/20021121/default.htm

  • Thu, Aug 26, 2010 - 05:21pm

    #13
    Peak Prosperity Admin

    Peak Prosperity Admin

    Status Bronze Member (Offline)

    Joined: Oct 31 2017

    Posts: 1614

    count placeholder

    Re: Is Hyperinflation Possible?

  • He hasn’t missed a thing. Still, all I hear about is hyperinflation so I wanted to ask around. I haven’t found anyone who can make a reasonable argument for it.

  • From your Stathis link…

  • Mentioned the possibility that the Fed would intentionally create massive inflation in order to pay off the huge national debt – p. 362 

  • Predicted an inflationary depression followed by brief periods of deflation if things got really bad (we experienced deflation during Q4, 2008) — Chapters 16 and 17

    • Thu, Aug 26, 2010 - 11:51pm

      #14
      Peak Prosperity Admin

      Peak Prosperity Admin

      Status Bronze Member (Offline)

      Joined: Oct 31 2017

      Posts: 1614

      count placeholder

      Re: Is Hyperinflation Possible?

    [quote=ed2011]mainecooncat, your response is so ridiculous I won’t even waste time responding. ? [/quote]

    ed2011,

    My impressions were virtually identical to mainecooncat’s.  Whether sincere or not, your post comes across as piggyback spam.  The degree to which you seem enamored with him also makes you come across as one who is a friend, family member, or beneficiary of his largesse.  I will try to keep an open mind and read his information and appreciate you bringing it to our attention but the presentation doesn’t come across favorably. 

    With regards to a few particulars, almost nothing he says is something I haven’t read elsewhere and at times, earlier than his time of prediction.

    Of course the gold bubble will burst … everything reverts to the mean eventually with an overcompensatory drop before doing so … again, nothing new.

    In real dollars, wages haven’t gone up and real dollars are what counts, not nominal dollars.

    Why did he get into the gold trade late and leave prematurely? 

    Also, hyperinflation, if it occurs (and he could be right that it won’t) will be an emotionally driven event, not an economically driven one.

    But I’ll read and see what he has to say.  I’ll most likely pick up his book on interlibrary loan though because, on principle, I refuse to pay for a book when the author can’t take the time to have proper editing, spelling, fact checking, etc. done (check out Amazon review by “Eugene”).   

     

    • Tue, Sep 27, 2016 - 03:38pm

      #15
      TheGreatDane

      TheGreatDane

      Status Member (Offline)

      Joined: Sep 27 2016

      Posts: 2

      count placeholder

      Mike Stathis

    Mike Stathis does not make any sense at all. Rather he seems delusional: on his own website he himself writes about himself: "Mike Stathis is the best in the world." Rather peculiar since no one else agrees. He has made some youtube videos, where the title of the videos tries to give the impression that he is being interviewed by mainstream media. When watching the videos it turns out that someone else is being interviewed, and Mike Stathis has recorded his own voice over, with which he praises himself. He has no relevant credentials; indeed his whole universe seems rather frantic, infantile and delusional. I would pass on his "advice" and "analysis" anytime. 

     

    Viewing 5 posts - 11 through 15 (of 15 total)

    Login or Register to post comments