Since 2007 we’ve had many (mostly alternative) economists predicting hyperinflation in the US. This is due to many factors including: high national debt (to GDP), incompetent leadership, uncontrollable government policy, world events and the world economy, as well as historical cycles that always see fiat currencies destroyed in this way. Obviously after the 2008 financial collapse, the flames of fears were massively fanned up to incredible proportions.
Here are 5 people, very respected online if not in the mainstream media as well who have predicted hyperinflation for the US but have so far been wrong.
1. John Williams:
John has been calculating real government statistics such as unemployment and inflation since the 1990’s when a lot of changes to the way government algorithms calculat official statistics such as the “Consumer Price Index” have changed to understate the economic crisis going on. As a result, inflation and unemployment have been underestimated for decades and as a consequence GDP has been overestimated.
Though I don’t discount the evidence and likelihood of outcome compared to historic trends, it is to Williams’ benefit to make catastrophic predictions to build his market for his services by making his brand name the most well known he can. Back in 2012 in an interview with Future Money Trends where he makes some very gloomy estimates of the future which are easily timestamped into history to be his words in February 2012. John goes so far to say that supply disruptions will cause civil unrest and that you need to hoard canned food, toilet paper and prepare for a return to the barter system.
Williams has stated back as early as 2011 that “Risks are high for the hyperinflation beginning to break in the year ahead; it likely cannot be avoided beyond 2014”.
2. Michael Maloney
Mike has his own popular economic site (GoldSilver.com) and YouTube channel that was created way back in 2009 and has over 250,000 subscribers. He has a series called Hidden Secrets of Money, currently with 7 episodes purported to explain the problems in the structure of the world economy and US financial and monetary institutions. Many of the episodes have over 1 Million views, including 6.5 Million for Episode 4 alone. Mike claims a deflationary shock will hit us before the hyperinflation, which makes a lot of sense that government would need an excuse to print more money and inflate after a large deflation scares people in the other way. Even John Williams later concurred on the likely scenario having deflation before a government stepping in to print money and hyperinflate.
The main point Maloney gives, that your mainstream could call “fear mongering” however is still that country destroying hyperinflation is inevitable in America’s near future. Sifting through his heavy arsenal of gold & silver videos we can see him expertly laying the case for hyperinflation here in a presentation from 6 years ago.
3. James G. Rickards – Often called Jim Rickards
Jim is the most famous of all the bunch as he is a New York Times bestselling author and his public accolades often spouted include being a CIA Financial Threat and Asymmetric Warfare Advisor. So you must assume this man’s words are given credibility in even some mainstream media outlets.
He's authored at least 5 books on the coming collapse, hyperinflation and rise of gold, starting with 2012's Currency Wars pictured below.
Just do a YouTube search for rickards hyperinflation and you will see his world economic collapse predictions go back over half a decade just like the other men on this list.
4. Peter Schiff
Peter Schiff, CEO of Euro Pacific Capital, is best known for his hardcore adherence to Austrian Economics and as such is very critical of the current US and World economic and financial systems. On this list he’s the most featured on mainstream media in the US including our top known outlets like CNN, CNBC Fox News, MSNBC - we can safely assume called on to play the opposing view and minority position. Though the Schiff name is often associated with elites of early America or European descent, the family here is much more concerned with warning about economic conditions and Peter’s father Irwin Schiff was even a tax protester and died in prison fighting for this cause.
Schiff is often credited with predicting the Housing Bubble pop in 2006-2008, usually in reference to his 2007 book Crash Proof. Though it appears his predictions were indirectly correlated:
The book, published in 2007, just before the 2008 financial crisis predicted an imminent decline in the value of the American dollar and advised investment in foreign securities and precious metals. After the recession of 2008, he published an updated version of the book called Crash Proof 2.0 which in January 2010 was listed on the New York Times best-seller list.
5. Jim Rogers
Jim is also another investor and economist well respected in both mainstream and alternative media. He is the most experienced and successful investor on the list as his investing career spans back to 1964 and includes being a partner with the infamous George Soros at investment bank Arnhold and S. Bleichroder in 1970, later created the Quantum Fund with Soros in 1973 which earned 4200% return in the decade leading up to 1980 while the S&P only advanced about 47%.
In 2002, after journeying to 116 countries, Rogers returned to become a regular guest on Fox News’ Cavuto on Business and other financial TV shows. In 2007 he moved to Singapore and since has highly praised the investment opportunities in Asia. Jim’s wrote many books and continues to be featured on all forms of media; back in 2009 claiming the Stock Market could go to 30,000 Dow Jones in a hyperinflation scenario.
As we approach an official $20 Trillion in National Debt, and no structural problems with the US or world money system are fixed (unless bitcoin slowly takes over and saves the majority of people from ruin), hyperinflation if not outright hyperinflationary collapse whether temporary or longer term in society, just keeps increasing in likelihood. These 5 men are just being seen as fear mongerers but are more likely just premature in their predictions – or in a better case their warnings actually convinced enough of the right people that it caused America to change course and save our future.
Notable Mentions:
Marc Faber – Swiss Businessman, investor & Economist
Craig Hemke - Founder of TF Metals Report
Gerald Celente - Very outspoken trends forecaster
Ron Paul - 12 Term Congressman and 3 Time Canddiate for US President