In the last century, hyperinflation ravaged the economies throughout Europe as well as Zimbabwe.
Today Venezuela is unraveling amid runaway inflation, and Argentina is on the cusp of hyperinflation at 32%, while Brazil is on the inflation watchlist.
Just as gold and silver shielded purchasing power millennia hence, the perfect panacea for hyperinflation today remains PMs investments.
In Part I. of this discussion with Bob Hoye of Institutional Advisors includes a startling sea change in attitude towards the PMs sector. After years of bearishness, Bob Hoye announced the potential for an epic GOLD RUSH on the horizon in the PMs sector, in particular, the mining shares, as lower expenses and deflation in typical shares enhance their appeal to the benefit of shareholders. The discussion turns to the 10 million percent inflation in Venezuela, as forecasted by the IMF in a Reuter's article on GATA.org, where $300,000 could soon be required to purchase a $3 loaf of bread, just 2 years earlier and a gold coin $120,000,000 or $120 million! Parallels are drawn between the numerous inflationary fiasco's from the genesis of civilization until today, including Ancient Greece, Rome, China, 100 years of inflation during the 1700's in France, perhaps best illustrated by the easy to read, Fiat Money Inflation in France (White, 1876), free PDF / HTML copies here. In the last century, hyperinflation ravaged the economies throughout Europe as well as Zimbabwe. Today Venezuela is unraveling amid runaway inflation, and Argentina is on the cusp of hyperinflation, currently at 32% while Brazil is on the inflation watchlist. Just as gold and silver shielded purchasing power millennia hence, the perfect panacea for hyperinflation today remains PMs investments.
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