And get this: Art is now thinking about Weimar and Zimbabwe.
A couple of his comments from the article linked below:
“If the velocity of money begins to accelerate and M2 begins to move up, then you will begin to hear people talking about or at least worrying about inflation again…”
Cashin notes that this isn’t just theory. Indeed, we’ve seen it before in history. Most people know the of the most notorious experiences: Weimar Germany and Zimbabwe.
“Somebody once asked a famous literary character (who lived through the Weimar hyperinflation) how did he go broke? He said, ‘Slowly and then suddenly.’ The Weimar Republic saw inflation develop very slowly, and then suddenly. Once it developed it was almost like Zimbabwe except it was in a major nation, and destroyed the moral values of a whole civilization and basically led to the underpinnings of World War II.”
Read more: http://www.businessi…2#ixzz2KmelYfNf
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