I found your conversation to be both illuminating and ALARMING!! ! Like five alarm fire alarming. The surge of money figures from our fall '08 printing spree: like about eight times former reserves dumped into the banks, you said? It has to mean inflation and, like you said, the arsonists coming to the rescue with price and exchange controls.

I don't have enough savings where it would make much difference, but I feel like a sucker if I didn't get out of the dollar. As you warned, we face "the biggest price inflation we've ever had in the US."

One question I have for you is this: Does the Austrian perspective have an explanation as to why, ever since last summer when the crisis hit, the dollar has skyrocketed against foreign currencies, like, for example, this?

I mean, shouldn't it be the other way? Also, why hasn't GLD gone higher, since everyone can see this inflation coming?

Anyhow, thanks for an educational podcast.
 

Well, people are rushing to the dollar because they think US Treasurys are the safest asset right now.

I don't know why gold isn't a lot higher, frankly. Part of it is the general drop in prices, I think, but that has surprised me. If gold doesn't break $1,000 by summer then I don't know what I'm talking about (at least in this arena).