Watch the full 39-minute video at http://www.goldmoney.com/hellmeyer-turk-interview
. In this video Folker Hellmeyer, chief analyst at Bremer Landesbank, and James Turk of the GoldMoney Foundation, talk about the problems facing the eurozone and the coming pick up in inflation. Hellmeyer doesn’t see a recession coming in Europe. However he believes that inflation will pick up and go back to the levels of the 1980s. In his opinion, the disinflationary period following the 1980s is widely misunderstood and was caused by the opening of communist countries which lead to overcapacities in global labour markets. Those resources have now been exploited and can’t buffer inflationary pressures any longer. They agree, that the government inflation statistics have been modified to show lower numbers – as claimed by John Williams of shadowstats.com – leading to a growing inflation-burden on the middle classs.
This video was recorded on November 4 at the Edelmetallmesse 2011 in Munich.