Hyperinflation is here

Definition: Hyperinflation is the condition whereby monetary authorities accelerate the expansion of the quantity of money to the point where it proves impossible for them to regain control. It ends when the state’s fiat currency is finally worthless. It is an evolving crisis, not just a climactic event.

The consequence is some extremely damaging intertemporal shifts, as described in the Cantillon effect, whereby ultimately both productive workers and the poorest in society lose savings, salaries and social security benefits through loss of the dollar’s purchasing power for the benefit of the government, its agencies, and big business.

Very few are conscious that hyperinflation is already with us, the majority of people only becoming aware when the consequences for prices become obvious.

The progression of annualised monetary inflation from under 6% before the Lehman crisis, to 9.6% subsequently until March this year, and 65% in the thirty weeks since is clear from the chart.

…..hyperinflation of the dollar and of most other paper currencies will likely end in a final, unexpected collapse in purchasing power in a matter of only a few months.

goldmoney Hyperinflation is here