"The response to inflation will be severe and dramatic like it was in the 1970's," once investors realize how much their purchasing power has been diminished, warns founder and CEO of Rule Investment Media, Rick Rule. We as a society have, "consumed and financed that consumption with debt that isn't backed with anything; that's the nature of inflation," he illustrates to our Daniela Cambone at this year's Swiss Mining Institute conference. "In a democracy, the spenders will always outnumber the savers," Rule continues. He says that the Fed is currently on the right track with their plan to quell inflation, however, they will most likely, "chicken out." Rule concludes that, "if we had a period of real interest rates it would certainly cure inflation, but it wouldn't cure inflation until it did amazing damage to various balance sheets." Video by Stansberry Research.
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