Rick Ackerman thinks "deflation, rather than hyperinflation, will wreck the global financial system"
In the meantime, whither gold
? My own theory as to why prices aren't bounding above $2,000 is simply this: the central banks have so far failed to produce any meaningful inflation.
The untold trillions worth of stimulus they have shot at this goal have barely kept deflation at bay. Granted, prices for groceries, health care and some other necessities have gone through the roof. But the inflationary impact of all of these things together is inconsequential in comparison to the deflationary down force of a quadrillion-dollar financial edifice that remains in a state of incipient collapse.
Under the circumstances, I continue to believe that deflation, rather than hyperinflation, will wreck the global financial system.