JOHN WILLIAMS: NEW RECESSION IN 2013, OPEN ENDED QE WILL LEAD TO HYPERINFLATION
DECEMBER 21, 2012
Economist John Williams thinks the economy is in worse shape than most people think. In 2013, Williams predicts, ‚ÄúAs this goes forward, you‚Äôre going to see we‚Äôre going to be in a new recession.‚ÄĚ The Federal Reserve announced last week it is now printing a total of $85 billion every month to reduce unemployment and stimulate the economy. Williams says, ‚ÄúThat‚Äôs nonsense. . . . There‚Äôs nothing they can do to stimulate the economy.‚ÄĚ Williams has long contended the Fed is really just using the weak economy to continue to prop up the banking system. Williams says, ‚ÄúIf the Fed wasn‚Äôt doing what it‚Äôs doing . . . I‚Äôd presume you‚Äôd be on the road to a banking system collapse. The banking system is still in trouble.‚ÄĚ Williams warns the ‚Äúopen-ended‚ÄĚ printing of $85 billion a month ‚Äú. . . will be part of what will eventually become hyperinflation.‚ÄĚ And if there is no deal on the so-called ‚Äúfiscal cliff,‚ÄĚ then Williams expects ‚Äúheavy selling pressure on the U.S. dollar.‚ÄĚ Join Greg Hunter as he goes One-on-One with John Williams.