Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Western Economies Face Hyperinflation: Gold Bull

  • Print Alex Jones Show podcast Prison Planet TV Infowars store

Antonia Oprita
Aug 19, 2010

The decline of the Western economic model will bring about hyperinflation and decades of painful readjustment, Egon von Greyerz, founder of gold investment intermediary Goldswitzerland.com told CNBC Thursday.

From 1971, when President Richard Nixon’s administration decided to take the dollar off the gold standard, economic growth in the Western world has been spurred by a massive increase in credit, according to von Greyerz.

The US debt increased from $9 trillion in 1971 to $59 trillion currently, while nominal gross domestic produce rose only from $1.1 trillion to $14.5 trillion in the same period, according to a research paper written by von Greyerz.

“The wealth that has been created in the last 40 years is not due to good times. The good times were created by credit creation,” he said.

Full article here

Having A Supply Of Healthy Foods That Last Just Makes Sense

This article was posted: Thursday, August 19, 2010 at 3:48 am

Infowars.com Videos:

Comment on this article

The Truth About the 'ISIS Bride' See the rest on the Alex Jones YouTube channel.

Jussie Smollett is a Complete Idiot See the rest on the Alex Jones YouTube channel.

https://www.youtube.com/embed/Rfi2O9yTCKI https://www.youtube.com/embed/NFYfqkrshp4

© 2019 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.