2014-Crisis in Dollar Will Trigger Inflation-John Williams…”I see the game as being over.â€ť
By Greg Hunter
January 5, 2014
Economist John Williams thinks 2014 will mark the beginning of hyperinflation. Williams contends, â€śYou are going to see, early on, a crisis in the dollar that will start to trigger the inflation . . . as the inflation picks up, thatâ€™s going to savage the economy, which is already in a depression. It never recovered.â€ť Forget what you have heard about the so-called recovery. Williams says, â€śThe consumer is in trouble. There is nothing happening to turn the economy around.â€ť The weak economy is bad news for the dollar. According to Williams, â€śAnything that would suggest deficit deterioration here, and a weak economy would do that, will have a devastating impact on the dollar.â€ť And if foreigners start selling some of the 12 trillion U.S. dollar based assets, such as bonds and currency, things will turn ugly fast. Williams says, â€śWeâ€™re dependent on the rest of the world continuing to go along with us and continue to support the dollar. Thatâ€™s not going to happen.â€ť So, the big question everyone is asking is when will the buck take a hit in value? Williams says the dollar will likely begin selling off before the middle of this year, and he adds, â€śItâ€™s really going to be a currency panic . . . when the fundamental selling pressure really starts to pick up, when the selling gets heavy . . . in turn, the weakness will be seen in a spike in oil prices and a spike in gasoline prices.â€ť Williams says there will be a panic out of the dollar and he predicts, â€śOnce you see a massive sell-off here, I see the game as being over.â€ť Join Greg Hunter as he goes One-on-One with John Williams of Shadowstats.com.