Some cheery predictions on a Friday morning, from Detlev Schlichter, as noted in a post on by Tim Evans on The Cobden Centre blog (pasted below).
As I mentioned in Paper Money Collapse, Schlichter, author of the forthcoming Paper Money Collapse: The Folly of Elastic Money and the Coming Monetary Breakdown, is very Rothbardian-Misesian. An interview can be found at Cobden Centre Radio: Brian Micklethwait interviews Detlev Schlichter.
By Dr Tim Evans, on 2 September 11A couple of days ago, TCC Senior Fellow Detlev Schlichter had this must-read interview published here and here.
A few days before hand, Detlev gave this stunning interview on Reuter’s TV in which he put a time frame on paper money collapse. Arguing “the end” is now fast approaching and describing the ways in which he believes the elite is increasingly boxed in, he speaks in the chilling yet precise terms of “2 to 5 years”.
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Predicting that fiat money is inevitably destined for a final resting place in the annals of historic failures is a conclusion that can be drawn from the study of Austrian economic. Saying when it will happen, however, is a bit like speculating in the futures market. You can be spot on predicting the price of corn is going to double soon, but lose everything in the futures market because your timing was a bit off. The inflationists have lots of tricks left in their bag to protect the status quo, which feeds their OPM habit (OPM: sounds like opium, is equally addicting, stands for other people’s money), not the least of which is a major war to justify unlimited deficit spending in the name of patriotism.
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