Hyperinflation threat is no joke; U.S. could become Weimar Republic - ShadowStats' John Williams
John Williams, founder of ShadowStats, discusses with David Lin, anchor for Kitco News, why the U.S. is headed towards hyperinflation.
Williams, who calculates the inflation rate using methodology the U.S. government used in the 1980s before revisions, estimated that the current rate of inflation is already 13.5 %, much higher than the 5.4% that the Bureau of Labor Statistics reported for June.
"What you're seeing right now in the way of what the Fed's doing, it's money creation, and it's still growing," Williams said. "The most basic measure [of money creation], what I call M1, is up over 80% from its pre-pandemic level. The Fed's not about to pull back, they can't. The system's not stable. It's a very difficult and dangerous circumstance."
For the best inflation hedges, according to Williams, watch the video above. Follow David Lin on Twitter: @davidlin_TV