by Andy Hoffman, Miles Franklin:
Sometimes, even the most poetic, concise text doesn’t do justice to simple graphics. Sure, I could write of this weekend’s dangerous expansion of “Cold War II” – which we can only pray doesn’t turn “hot”; or the most pitched Israel/Hamas battles, yielding 450 casualties, since the 1967 war. Heck, I could write entire articles on a half dozen topics related to Friday’s “horrible headlines” alone; from St. Louis Fed President Bullard warning of a U.S. bond bubble whilst IMF head Lagarde spoke of a global stock bubble; or Portugal’s largest financial institution, Banco Espirito Santo, officially declaring bankruptcy, to be shortly followed by Flint, Michigan; or the Bank of Italy reducing its 2014 GDP growth expectation from 0.7% to 0.2%; or the largest ever decline in Chinese home sale prices; or the lowest U.S. consumer sentiment reading in a year.
Suffice to say, we have written of all these issues ad nauseum, and will continue to do so as significant developments unfold. And thus, we will “change it up” today, by posting pictures “telling a thousand words” of how global Central banks are fostering the hyper-inflation that will shortly destroy the purchasing power of all fiat currencies, particularly the “reserve currency” dollar.
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