From the back cover
Debunking the Hyperinflation of Peter Schiff and the Gold Bugs: A Guide for Investors offers an in depth look at the predictions of
the ‘gold bugs’ that the US dollar is headed for catastrophic
collapse. While Peter Schiff and other gold bugs have
described at length their visions of an apocalyptic future
certain to befall the US dollar, and their investment advice
to prepare, they have offered little convincing detail to support
their position that massive, money-supply triggered
inflation is surely coming.
The author forgoes the usual macroeconomic theories,
graphs and charts to examine and debunk this hyperinflation
myth. He instead employs a sound conceptual understanding
and common sense in exploring the viewpoints
of dollar-holding global actors. The author’s revealing research
points to rampant inflation as being exceedingly
unlikely as a result of either the economic and financial
problems facing the United States or the astronomical
government stimulus. Regardless of the ultimate severity
of economic downturn, any US dollar decline has only the
remotest chance of reaching a magnitude approaching hyperinflation.
Demonstrated in detail in this book are why several key underpinnings
of the gold bugs’ theory of mass destruction of
the US economy are only myths. The author specifically debunks
the notions that: (1) a largely consumer-driven economy
must be tenuous; (2) a large dollar decline would turn
into free fall rather than meet resistance; (3) money supply
increases must eventually create corresponding price
inflation; and (4) an exporting base is somehow required
for American prosperity, among others.
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