U.S. Dollar Hyperinflation by 2014 Says John Williams

Economist John Williams says the latest round of “open-ended” QE has set the table for a global “dollar sell-off” and “hyperinflation” no later than 2014. Williams says, “There’s no way the consumer can fuel the economic recovery, and there is no way we’re going to see one in the near future.” Williams predicts, “The Treasury is going to have funding problems, and that means the deficit gets a lot worse.”

Now, there is talk the Fed might increase the money printing. Williams charges, “The Fed’s primary concern is to keep the banking system afloat, and they’re not doing so well with that.” Williams contends there is 12 trillion in liquid dollar assets held outside the U.S. Williams says it is only a matter of time before all the Fed money printing will “trigger a sell-off . . . and that will provide the early start of the hyperinflation.” You think the U.S. is better off today than it was in the last meltdown? Not according to Williams, he thinks, “. . . things have gotten a lot worse.” Join Greg Hunter as he goes One-on-One with John Williams of Shadowstats.com.

There is a scheme to downgrade Social Security, and to do it in such a way as to neither stick it to anyone, nor to cost the government much to do so.

However, it is likely already too late to do so, because it is reliant on the Bush tax cuts. Here is the idea.

To start with, instead of offering just tax cuts, as such, make SS recipients a deal. If they need their SS money, fine, they can take their deserved check. However, if they have other sources of income, offer them a slightly *better* deal, in the form of a tax cut, if they do not take their SS check.

Then expand the idea to those still paying in to the SS system, that for every year they *don’t* pay into the system, they get the equivalent of that years’ SS payment plus an additional years’ payment put into a private retirement account. Again, if they choose to do so.

The final result for this would, in a few decades, reduce those paying into the SS system for benefits to just minimum wage employees with no other retirement, and people who are too overwhelmed by thinking about it to vie for the better deal.

This would be a SS system a tenth of the size it is today, and fully solvent.

Importantly, they could be a similar process to downgrade Medicare and Medicaid, but the best way to achieve that is likely to make them “block grant” programs for the states with fixed rules. And the feds could not enlarge upon, or coerce changes beyond these fixed rules unless the states agreed to the changes on their own.

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