The U.S. economy will enter “hyperinflation” approaching the levels in Zimbabwe because the Federal Reserve will be reluctant to raise interest rates, investor Marc Faber said....US Inflation to Approach Zimbabwe Level, Faber Says, Chen Shiyin and Bernard Lo, Bloomberg News, 5/28/2009
Marc Faber is a gold bug, someone who believes valuable metals are safer than any investment. Gold bugs are doom and gloomers. Even when they're right, they tend to exaggerate. But, they are often right when they talk about the consequences of monetizing the debt, or printing money. We may not be carrying laundry baskets of hundred dollar bills, but you'll know it's real when your TIAA-CREF's four hundred thousand dollars will barely purchase a one-room apartment in Atlanta. We've been through this before. See several stories before. Policies that print money destroy savings, wages, and security. They are open warfare on the people. "Preserve, protect and defend" apparently doesn't include you.