Home› Precious Metals

MISH vs. Schiff battle heats up!

derrybderryb Posts: 36,790 ✭✭✭✭✭
in Precious Metals
From MISH: Peter Schiff Backs Down from Debate with Mish 3rd Time After Agreeing to Do So

From Shiff: Mish Mike Shedlock Exposed, the Deflation Great Pumpkin

"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

Comments

  • jmski52jmski52 Posts: 22,820 ✭✭✭✭✭
    When Mish ends his comments by saying that the US is heading down the same road as Japan but that Japan will have it's currency crisis first, doesn't that speak to a hyperinflation event?
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,790 ✭✭✭✭✭
    Don't know that a currency crisis equates to hyperinflation. Depends on one's definition of a currency crisis.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • jmski52jmski52 Posts: 22,820 ✭✭✭✭✭
    The references to a currency crisis indicate that it is when a currency loses purchasing power.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    Link: US hyperinflation is a myth

    Liberty: Parent of Science & Industry

  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    More: Hyperinflation: the nightmare that will never happen

    Liberty: Parent of Science & Industry

  • derrybderryb Posts: 36,790 ✭✭✭✭✭


    << <i>The references to a currency crisis indicate that it is when a currency loses purchasing power. >>


    US currency has steadily lost purchasing power since 1913, yet no hyperinflation.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • jmski52jmski52 Posts: 22,820 ✭✭✭✭✭
    $85 billion a month of unsterilized new money going into long bonds now because there are no outside buyers. $1.3 trillion annual budget deficits. I wouldn't say that hyperinflation will never happen.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 19,095 ✭✭✭✭✭


    << <i>$85 billion a month of unsterilized new money going into long bonds now because there are no outside buyers. $1.3 trillion annual budget deficits. I wouldn't say that hyperinflation will never happen. >>




    Excessive debt usually leads to deflation. One only needs to look at the most recent bubble--real estate.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,790 ✭✭✭✭✭
    excessive debt reduces demand, the buyers are all tapped out. This is why prices drop.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • LukeMarshallLukeMarshall Posts: 1,982 ✭✭✭✭✭
    A nice little back and forth, I loled, one thing is for sure though...

    We've ( USD) lost a lot of purchasing power since 2008 when compared to the Aussie Dollar...

    Crocky Mate!

    It's all about what the people want...

  • ttownttown Posts: 4,472 ✭✭✭
    I'm not sure how it will pan out but I think more globally than most on the board. I wouldn't be surprised that the rest of the world didn't want US dollars so Joe 6 pack may have plenty of $$$ but there's no one that want to sell anything for them esp. if they aren't made right here in the US. If the Walmart can't get em then does it really matter how many $$$$ clones you have if it's not on the shelf?
  • cohodkcohodk Posts: 19,095 ✭✭✭✭✭


    << <i>excessive debt reduces demand, the buyers are all tapped out. This is why prices drop. >>



    Yup. The best cure for high prices is high prices.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,820 ✭✭✭✭✭
    Excessive debt usually leads to deflation.

    Yes it does! (Which is exactly why Bernanke is pumping liquidity into the system.)


    excessive debt reduces demand, the buyers are all tapped out. This is why prices drop.

    Very true! (Which is what terrifies policy-makers most - a potential crash in equities and other assets would have the public up in arms and they would be thrown out of office, or worse.)


    The best cure for high prices is high prices.

    So, please explain why the Fed needs to pump $85 billion/month just to keep long bonds from crashing in price?image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    Whether hyperinflation or deflation we know the track record of fiat money with 100% certainty.
Sign In or Register to comment.