Maybe this is the plan to deal with the US foreign debt: devalue the currency, and pay it off with paper.
With Weimar Germany, excess printing caused hyperinflation which meant that it took more and more Marks to pay the war reparations.
Today's USA has one huge, important advantage: the debt is denominated in US dollars. Devalue the dollar, and you devalue the debt.
Sure, it will screw every person holding US dollars in cash, or any US dollar denominated asset - bank deposits, bonds, debts, etc - but a lot of those people are foreign nationals: China, OPEC etc.
Massive government borrowings usually cause inflation. Just ask TW about paying for the Vietnam war and the inflation of the 1970s.
Not only are wise investors hoarding gold, they are holding anything other than cash denominated assets. China has steadily increased their imports of iron ore from Australia all year, despite their steel production falling dramatically for the last 6 or 8 months. They'd rather have iron ore than over-priced paper.
But .... hyperinflation? Of the insane Zimbabwean levels? I don't see that coming.
As Beestie alludes to, this guy may have made a few good predictions, but he hasn't told us about all his bad predictions along the way.
I say, stock up on long life food. That will be the real currency after the crash, and if not, well, you can always eat it.
