Does anyone know what happened to Germany in the 20's? Okay, I didn't either but ... in 1923 they had 33 printing plants cranking out 45 billion marks a day. By the end of the year it was 500 quadrillion a day!
The only thing that outpaced inflation was gold and silver. The price of gold had gone from around 100 marks to 87 trillion marks per ounce. When the hyperinflation came to an end the currency supply had grown from 29.2
Now, does anyone know where we are in the U.S.? It took us 200 years to go from $0 to $825 billion and then last year ... we printed another $900 billion and then another $1.2 trillion. So now we are at $3 trillion dollars.
For history to repeat ... gold would have to rise to a price of $15,000 an ounce to cover the paper dollars that exist. It is currently at $1,100 an ounce. Silver is an even better deal currently at approximately $20 an ounce.
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