James Turk Interview With Adam Fergusson
Commenting on inflation, Fergusson states, “I see it [inflation] getting worse and worse, the question is, how bad is it going to be. I don’t think it’s possible to have hyperinflation in a western economy of the kind achieved there [Germany] through monetary ignorance.”
History repeats itself all too often. James Turk’s sit down interview with Adam Fergusson, author of “When Money Dies” to discuss his perspectives on Weimar Germany hyperinflation. Fergusson gives his opinion on the future of fiat currencies around the globe as they continually try to inflate themselves out of a massive and never-ending national debt. Here are a few key points from the video…
-Fergusson believes a hyperinflation from ignorance, as seen in Weimar Germany, is not likely in western economies but does believe worsening inflation is inevitable.
-Discusses how “inflating out of debt” seems to be the only politically viable option for western governments.
-Discusses how, similar to today’s western governments, the fear of unemployment kept very loose lending practices and cheap credit flowing, ultimately leading to currency collapse
-Discusses how borrowers benefited and savers were punished during hyperinflation. Those with mortgages and other debt obligations had their payments virtually eliminated through inflation.
-Mentions how the beneficiaries of the hyperinflation were borrowers and speculators in the currency markets, similar to today’s hedge fund managers and wall street bankers.
-Comments on hyperinflation and it’s ushering in of corruption, violence and political extremism while wiping out the middle class.
