I don't think there will be as much of of a flight to the US Dollar as seen in the past though.
Everybody is dumping the dollar. It's losing it's reserve currency status. Slowly, but it's happening. The only thing that's holding it up is China unwinding it's dollar based assets and doesn't want to crash the system too soon. Pretty slick. They can dump the toxic US debt they are holding and buy hard assets with it!
Our banks aren't any better than Europe's. They are insolvent as hell. They're all interconnected with derivative daisy chains just waiting to unwind.
Never guess who underwrote Europe's debt via credit default swaps LoL!
Precious metals will suffer initially just like last time, but just like in 2008-9 they will lead the way back up too. They will be the best protection from the coming onset of hyper inflation.
When the rest of the world is using their own currencies (or an acceptable substitute) instead of US Dollars to purchase their energy and other international balance of trade type goods, billions and billions of those dollars are going to find their way back home to roost. That's when we'll REALLY see hyperinflation.
Billions and billions of dollars that nobody wants any more aren't gonna be worth much.
What's the value of an ounce of gold when nobody wants to exchange it for ANY amount of dollars?
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