Infowars.com - Its Getting Ugly Economist Says Hoard Gold & Scotch

Respected economist John Williams, editor of ShadowStats.com, a popular website that tracks real inflation figures, is advising that people hoard physical gold as well as food items in bulk so that they have some means with which to barter as the economic crisis turns ugly.

Three or four years into the future I think we could be in a hyperinflation, within the current year youre going to see much higher inflation than most people are looking at, Williams told MarketWatch.

Williams said that his definition of hyperinflation would be a situation in which a $100 dollar bill would become more functional as a piece of toilet paper than a store of value.

This is a time when you want to preserve your wealth and assets because inflation will knock the value out of it, he added, advising that people buy physical gold and assets other than the U.S. dollar.

Then when the hyperinflation hits youll see disruption of normal commerce, you wont have enough $100 dollar bills to buy what you want, said Williams, adding that items to barter with, such as a bottle of scotch, would be more valuable than actual cash, even in large quantities.

Williams said that such items should be procured now in bulk so people had some means with which to barter and get them through rough times.

At least as far back as April 2008, six months before the collapse of Lehman Brothers and Bear Stearns, Williams predicted that the world economy was entering a phase of hyperinflationary depression that would peak in 2010.

In a hyperinflation special report, Williams said that the U.S. was on an irreversible course of financial armageddon that would likely lead to extreme political change and/or civil unrest.

Top trends forecaster Gerald Celente has echoed Williams advice, remarking recently that putting food on the table will become a primary concern over buying gifts at Christmas.

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[OgeronimonominoregO]

What do you mean "inflation fell"? The rate of increase in prices fell? Over a year or two? So freakin' what?!? No matter what you say, everyone knows that inflation has been going on virtually uninterrupted since the Fed took over.

What did things cost in 1982 compared to what they cost now?

You keep getting sucked into these stupid short-term Keynesian arguments and ignoring the fundamentals and the big picture.

Debt is choking the world. ALL of it came from morons printing money.

[Thunderwavia]

DAMN riiight, its all about the HARD Liquor.  Whiskey, yum

[1IIIIIIIIII1]

@tfiasco88 NO NOT ME.....IM ALL IN ON BUBBLE GUM AND COOKIE DOUGH

[tfiasco88]

@1IIIIIIIIII1 yup... guess that means you filled your portfolio with only silver & gold

[1IIIIIIIIII1]

@tfiasco88 DOES THATMEAN YOU HAVE NOT BOUGHT ANY SILVER OR GOLD?

[tfiasco88]

@1IIIIIIIIII1 lol its people like you who would lose their wealth listening to these guys... but hoard away

[1IIIIIIIIII1]

@tfiasco88 ITS WELL KNOWN THAT BANKS ARE NOT SELLING GOLD ANYMORE, BUT BUYING IT.......GO AHEAD AND HOARD DOLLARS AND SEE HOW YOU DO.

[tfiasco88]

@1IIIIIIIIII1 "hoarding gold"... you act as if the market for gold itself is large (which it isnt by any means). And what central banks & governments around the world are hoarding gold?? (by this i mean provide links to credible sites). The only ones I see hoarding gold are crazed (and rich) individual investors

[1IIIIIIIIII1]

@tfiasco88 WHY ARE THE CENTRAL BANKS AND GOVMENTS AROUND THE WORLD HOARDING GOLD IF HAVING GOLD IS A SILLY IDEA?

[tfiasco88]

but his type have been screaming about hyperinflation since 2000.... its 2011 & inflation is barely above 1%.. HOARD GOLD NOW!!!

[singledad1234]

henrymakow com wake up to the zionist control of the federal reserve bankers

[ezrhino100]

why is this guy always talking about SCOTCH? fuck scotch. are you going to walk around with a flask for currency?