SocGen’s Grice: Global Currency Debasement Might Spark ‘Social Disorder’
By Dan Weil
Moneynews.com
Wednesday, 03 Oct 2012
Societe Generale strategist Dylan Grice isn’t exactly an optimist when it comes to the global economy and social stability.
“I am more worried than I have ever been,” he writes in a commentary obtained by Business Insider. “I fear the defining feature of coming decades will be a Great Disorder of the sort which has defined past epochs and scarred whole generations.”
So what’s going to cause this Armageddon? Global central bank easing, Grice says.
“All I see is more of the same — more money debasement, more unintended consequences and more social disorder,” he writes. “Since I worry that it will be Great Disorder, I remain very bullish on safe havens.”
Grice doesn’t specify what his favorite safe havens are — gold and other commodities perhaps?
We’re witnessing “what might be the largest credit inflation in financial history, a credit hyperinflation,” Grice says. And that’s taking money from the poor and giving it to the rich.
The Rest…HERE
