Crashing the Dollar

World Faces Risk of Hyperinflation, Dollar Collapse, Warns Currency Expert in New Book Crashing the Dollar A longtime monetary expert is warning that high- or even hyper-inflation is soon coming, and that this could destroy the U.S. Dollar and other major currencies around the world. Craig R. Smith, Founder and Chairman of Swiss America Trading Corporation, in his Introduction to the new book Crashing the Dollar: How to Survive a Global Currency Collapse, writes: '¿¿The United States is digging the biggest economic hole in human history. This hole of debt is now so deep that, if you listen carefully, you can hear the voices of Chinese creditors asking one another if they will ever get back the $900 billion they have lent to us.'¿¿ America's debt, deficit and unfunded liabilities exceed $120 trillion, writes Smith, and are now impossible to pay off with either tax increases or spending cuts. Politicians of both parties, he writes, will simply print as many dollars as they need to '¿¿monetize'¿¿ this debt, paying off with greatly devalued dollars. But, much as happened in 1922-23 in Germany's Weimar Republic after World War I, write Smith and former think tank futurist Lowell Ponte, the printing of tens of trillions of dollars to pay America's debts will destroy the value of personal savings, pensions, fixed mortgages and other fixed-dollar assets.

Craig R. Smith, the Founder and Chairman of Swiss America Trading Corporation, has been interviewed on CNBC, Fox, and other business media. He is a columnist for WorldNetDaily.com. Lowell Ponte, a Newsmax Magazine Contributing Editor, is a former Roving Editor at Readers' Digest.