Excel Only Use Substitute Formula If Certain Conditions Are Met Hyper Inflationary Dollars – Chasing A Shrinking Gold Supply

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Hyper Inflationary Dollars – Chasing A Shrinking Gold Supply

To get this disturbing concept in your mind, think of Shark Mania. In the beginning, there is a shark munching on a freshly killed tuna. Smelling blood, a bunch of other sharks quickly join the feast. In no time, fifty, perhaps a hundred crazed sharks appear, each struggling to get their snouts in there to grab a morsel of the rapidly dwindling food.

Okay, that might be a bit dramatic. Then again, as far as gold goes, maybe not. See, while Washington is busy cooking up enough dollars to pay back those eyeball-popping bailout checks politicians are writing 24/7, less and less gold is being pulled from the ground.

Do you get the picture here? A lot of dollars…Too little gold?

Spreading monopoly money

It’s sad, of course, to see this happening.

Our once glorious dollar, part of the foundation of our great nation, the powerful monetary standard of the world, is now printed like multi-colored Monopoly money.

How much monopoly money are we talking about? According to analyst Barry Ritholtz, who went into painstaking detail to construct an Excel spreadsheet of government bailouts, we’re on the hook for $8.5 trillion. This “does not include the $5.2 trillion in Fannie/Freddie portfolios for which the American taxpayer is apparently also responsible.”

And even his estimate might be on the low side. Ritholtz estimated President Obama’s stimulus package at $168 billion, while more than $850 billion is being kicked in today.

We’re now tossing around trillions like we used to toss billions around, almost as if the word, trillion, doesn’t mean what it means. Olivier Garrett of the Casey Report compiled a list of the costs of all US wars and government initiatives, including Iraq, the Gulf War, Vietnam, World Wars I and II. The Marshall Plan and everything NASA did, including visiting the moon.

He came up with $8.1 trillion.

Ritholtz’s relatively modest bailout figure is about half a trillion more than that. The ultimate question here is how the world can possibly digest 8.5 trillion brand new dollars?

The obvious answer is, it cannot.

The flood of dollars will not overcome the gains

Have you heard the word before? A perk test is the time it takes for standing water to soak into the soil in the building. Timely absorption will mean more benefits.

This year, the world economy will face its own nightmare version of the perk test: A flood of dollars is pouring into every nation in the world, and there is little chance that it will all be absorbed before catastrophic and lasting consequences follow.

These trillions mean that the dollar, which is much lower than before, will chase the world’s goods. And that is the formula for hyperinflation, a classic example of which, during the German hyperinflation of 1923, a currency wheel is stolen after a thief throws increasingly worthless money on the ground.

Here’s another one, (from marketskeptics.com): “My father was a lawyer,” says Walter Levy, an internationally known German-born oil consultant in New York, “and he took out an insurance policy in 1903, and every month he. faithfully paid It was a 20-year policy, and when the time came, he cashed it in and bought a loaf of bread.”

Wikipedia’s definition of hyperinflation is “inflation ‘out of control’, a condition in which prices rise rapidly while the currency loses value.” So, going a step further, what happens when production of the goods that these increasingly worthless dollars are chasing starts to dry up?

Less gold since the turn of the century

This is why gold is so valuable: there is not much of it there or on earth.

And nowadays less and less of it is being produced. While companies are mining gold all the time, global production has lagged significantly over the past decade.

According to GFMS Consultancy, a London research group, annual gold mine production peaked at 2,573 metric tons in 2000, falling to 2,469 tons in 2006 and 2,444 tons in 2007.

And 2008? Best year-end estimates show gold production falling to 2,400 tonnes. This means that since the year 2000, gold production has declined by 6.72 percent. Part of the problem is South Africa’s declining gold mining output in the former Saudi Arabia. With China expected to replace South Africa as the new gold leader, there is little expectation that gold supplies will zoom to new highs.

So there you have it. More dollars than we’ve seen before…less gold since the turn of the century.

“If the Fed creates enough inflation, gold will probably hit $5,000,” noted analyst Peter Schiff said in a Fox News interview, summarizing the outcome of this hyperinflationary dollar/scarce gold chase in a surprising way.

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