John Williams of Shadowstats.com has long contended the Fed is really just using the weak economy to continue to prop up the banking system.
Williams says, “If the Fed wasn’t doing what it’s doing . . . I’d presume you’d be on the road to a banking system collapse. The banking system is still in trouble.” Williams warns the “open-ended” printing of $85 billion a month “. . . will be part of what will eventually become hyperinflation.” And if there is no deal on the so-called “fiscal cliff,” then Williams expects “heavy selling pressure on the U.S. dollar.” Join Greg Hunter of USAWatchdog.com as he goes One-on-One with economist John Williams.