Turning Hard Times Into Good Times

Jeffrey Rogers Hummel joins our show this week to tell us the U.S. government will likely default on its Treasury debt. While most inflationists believe a virtual default resulting from hyper inflation is likely, Hummel suggests an outright U.S. failure to repay principal is likely. Third World countries can efficiently inflate their debt away, but it is highly inefficient for an advanced nation like the U.S. with its sophisticated credit and banking system. What would a U.S. Treasury default mean for the life expectancy of the U.S. dollar? What would it mean for gold? Would it lead to massive deflation or inflation or a combination of the two? As always we provide some practical investment ideas to fit our macro economic views. Helping us find some profitable safe havens for our money in this troubled world will be geologist and newsletter writer, Lawrence Roulston. A competitor of your host, Lawrence is one of the most astute analysts in the mining sector.