As Mike Maloney forecast in the mid-2000s, the roller-coaster ride continues in world markets and economies. His – so far – spot on projection that “first the threat of deflation (1), followed by a helicopter drop (2), followed by big reflation (3), followed by a real deflation (4), and then followed by hyperinflation (5),” appears to be rotating from stage 3 to stage 4 (as we noted here). However, as Maloney explains in this brief clip, while we have seen great deflations before, in the ’30s one-third of the monetary base was backed by gold, now we virtually nothing as “people do not understand the scale of the emergency that’s going on right now.”
Five brief minutes on a Sunday… watch!
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/bQLOKX6WWPk/story01.htm Tyler Durden