I think the tail-end of his talk is correct – the printing presses will be working overtime. We are heading for a mighty inflation, or stagflation, to put it more accurately.

People with assets denominated in $ will loose out (eg Bond-holders, pensioners on fixed pensions).

People with real assets (houses, shares – all at the right price) will win.

People with $ liabilities and real assets (mortgage holders) will win twice.

Or at least that is what happened in the 70s.

ADE