Warnings From Insiders

By Robert Ringer

I had a long talk yesterday with an old friend, an ex-Congressman who served eighteen years before retiring in disgust. Back in the late eighties, he invited me to give a talk to a group of likeminded conservative colleagues in his office. (A couple of young Congressmen who were at that meeting are now very high-profile politicos, but, to protect their privacy, I will refrain from giving their names.)

Afterward, my friend told me how impressed they had been with what I had to say. But I didn't buy it, because one of the things I remember most vividly about that meeting was their blank stares. Clearly, those supposedly conservative Congressmen were not prepared to hear my analyses of government, the economy, or the future.

Now, fast-forward twenty years to our private talk yesterday. A few minutes into the conversation, my friend told me that he was in a quandary and wanted my advice. He said he had always kept most of his net worth in cash, because he never trusted the stock market, and he now believes that hyperinflation and the destruction of the U.S. dollar are inevitable. In other words, he sees his cash becoming worthless as a result of government running its printing presses overtime.

I will not share with you what I told him, because I'm not a financial advisor. But, like me, he said he is even more worried about the political consequences of hyperinflation. He said he has been warning his children for years that unless there is a radical backlash from the public, they will live out their lives under a dictatorship.

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