Tuesday, September 21, 2010
Mike Maloney Schools Bankers on Deflation
Mike Maloney appeared at a conference to talk about the coming economic crisis. His efforts were capture on camera and I must say that this maybe one of the most important videos you'll ever watch. Maloney not only explain how the next leg of the crisis will begin, but he schools the bankers on how money is made by covering factional banking and Treasury Bonds.
"The crisis that you've just been through is nothing but a speed bump on the way to the main event. The storm that is coming is going to be bigger than anything that you have ever seen. There's a dollar crisis coming. There's a big deflation coming soon. The money supply of the United States has begun to contract for the first time since the Great Depression."
Maloney warns that the central banks will try to fight this by trying to stimulus the economy. This will create a massive transfer of wealth across the world. He's convinced that the entire world's economies are following the United States. He declares that the people who prepare with prosper. But he warns that hyper-inflationary will be the result of reckless central bank responses to the crisis.
"We've created more currency in just 18 months than in the last 200 years. Do you think that's a good thing."