Monday, April 18, 2011

Deflation vs. Hyperinflation?

Here's a great article (with lots of charts!) which concludes with:

"If, as we both expect, the vast majority of people lose the vast majority of their wealth, there will be a lot of gold for sale in "the market" (whatever it may look like by then). That means a huge amount of sellers, forced to sell by investment losses and other predicaments, and an ever shrinking number of potential buyers. Who might just be wise enough to wait for the price to come down further. It seems obvious where that leads."

Seems to me like the conclusion is either oligarchy, feudalism, dictatorship, or something similar. Over to you, Max?

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