“Whenever Governments Print A Lot Of Money, You Get Inflation"

“Whenever governments print a lot of money, you get inflation. That is the way the world has always worked. I am sure inflation is going to go to levels seen in the 1970s, if not higher. It is not necessarily going to happen this year, but certainly over the next few years. Governments around the world are going deeper and deeper into debt and this has got to be financed. Someone will have to pay higher rates eventually.”