The author offers an in depth look at the predictions of the gold bugs that the US dollar is headed for catastrophic collapse. While Peter Schiff and other gold bugs have described at length their visions of an apocalyptic future certain to befall the US dollar, and their investment advice to prepare, they have offered little convincing detail to support their position that massive, money-supply triggered inflation is surely coming.
The author forgoes the usual macroeconomic theories, graphs and charts to examine and debunk this hyperinflation myth. He instead employs a sound conceptual understanding and common sense in exploring the viewpoints of dollar-holding global actors. The author's revealing research points to rampant inflation as being exceedingly unlikely as a result of either the economic and financial problems facing the United States or the astronomical government stimulus. Regardless of the ultimate severity of economic downturn, any US dollar decline has only the remotest chance of reaching a magnitude approaching hyperinflation.
Demonstrated in detail in this book are why several key underpinnings of the gold bugs theory of mass destruction of the US economy are only myths. The author specifically debunks the notions that: (1) a largely consumer-driven economy must be tenuous; (2) a large dollar decline would turn into free fall rather than meet resistance; (3) money supply increases must eventually create corresponding price inflation; and (4) an exporting base is somehow required for American prosperity, among others.
