Jim Rickards: We are on the Brink of Runaway Inflation or a New Currency

Saturday, April 18, 2015
By Paul Martin


Jim Rickards, author of Currency Wars and The Death of Money points out that, “Inflation does not move uniformly through an economy.

It moves with lags, something Milton Friedman also said in the 1970s. Inflation, according to Cantillon, moves in concentric circles from a small core of people to an ever widening group of affected individuals.”

The inner core are the high net worth individuals, who get hit first, then the middle class are in the outer circles, getting hit later.

“Think of the way ripples spread out when you drop a pebble in a pond. Cantillon said that the rich and powerful are in the inner circle and see the inflation first. This gives them time to prepare.

“The middle class are in the outer circles and see the inflation last. They are the victims of lost purchasing power.”

The Rest…HERE

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