A Note From Dean Harry Schultz

Posted at 1:48 PM (CST) by & filed under Harry Schultz.

Dear CIGAs,

From the April Edition of the Aden Letter, Dean Harry Schultz says:

“This is the first time old friend Jim Sinclair has said hyperinflation is “assured” – IE, certain, not just possible or likely. Jim says: “The madness will not stop. The situation is over the edge. The damage is done. Hyperinflation is assured.” I’m afraid Jim is right. Governments could have prevented it, but didn’t want to pay the price. Fiat currencies will pay the price. The US dollar will both waterfall and lose its reserve currency status which in turn will ignite rampant inflation.

Jim adds: “The new reserve currency will be a virtual currency (an average of the major currencies). It will be (remotely) tied to gold via a worldwide M3 type liquidity. It won’t be convertible (will be used between central banks, not you and I). Today’s existing currencies will continue to be used but valued one to the other. A measure will be created similar to the old M3 (which reveals government pumping) but to reflect their entire past money creation. Upon initiation, the M3 level and the level of gold will be considered as 100 on the virtual index. Contributions of gold to BIS or IMF (agent of the virtual reserve currency) to participating currencies in the index will have to rise to meet rising liquidity. All situations, like now, will resolve themselves via a commodity currency. That is the entire story.”