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Richard's Remarks

 

Many people wonder what will happen to the multi-trillion dollars of debt that the US owes. Debt, in terms of dollars, remains stable (albeit growing). But I believe the Federal Reserve and the Treasury are playing for time. If we continue to create dollars at the current rate, eventually the debt will appear manageable. The trick is that we must create dollars faster than we are creating debt. Eventually this must lead to hyperinflation. It all boils down to a slogan that I invented many years ago, “Inflate or die.”

 

Meanwhile keep your eye on the dollar. A decline to 78 will be the first sign of serious danger. An early sign of possible danger: the Dow appears to be losing upside momentum. In the old days we used to call it “churning.”

 

 

 

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