David Stockman – We Are Now Entering The Terminal Phase Of The Global Financial System That Will End In Total Collapse

from KingWorldNews:

“So the first go-round was a rip-roaring price inflation because there had not yet been enough time under the fiat money and balance sheet expansion by the central banks to create excess capacity in the world industrial system. So as the boom in demand took off, commodity prices soared. That fed into domestic costs and labor wages in particular.

There weren’t a million cheap workers coming out of the rice patties in China yet because it was still in the Dark Ages of Mao and not part of the world economy. And so you had a classic inflation blowoff and flight to gold in the 1970s as a result of that initial money printing cycle.

David Stockman Audio Interview @ KingWorldNews.com

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