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The Cybersecurity Play That Doubled Once – Will Double Again

Not long ago, a relative of mine was the victim of identity theft. And I have to tell you that I really felt for the entire family.

The thief ran up nearly $20,000 in charges, opened new accounts and tried to open others.

And I can tell you that the frustrations over the losses (most of which ended up being covered) were dwarfed by the helplessness that came whenever new charges showed up – and the worry that was spawned by never finding out how the whole mess started.

As we watch the headlines about data breaches and cybercrime – and watch as the violations move closer and closer to home – those worries only escalate.

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    Hyperinflation in America: When a Loaf of Bread is $3 Billion

    Bread
    Too few understand just how disruptive hyperinflation in America would be.

    Truth is, it would be a nightmare.

    In an episode of hyperinflation, money loses value so rapidly that people spend it as quickly as possible, which only feeds the cycle of pushing prices higher and higher at a faster and faster rate.

    Imagine prices at the food store and gas pump not just going up a few cents at a time, but doubling in a matter of months, weeks, or even days.

    And now some economists and market experts think many of the ingredients for hyperinflation are brewing in America.

    That's because years of profligate U.S. government borrowing and spending have created trillions of dollars that lurk in the reserves of foreign countries and major financial institutions. The situation escalated after the 2008 financial crisis, with the U.S. Federal Reserve's policies of "quantitative easing" creating even more money.

    "The U.S. government and the Federal Reserve have committed the system to its ultimate insolvency, through the easy politics of a bottomless pocketbook, the servicing of big-moneyed special interests, gross mismanagement, and a deliberate and ongoing effort to debase the U.S. currency," said John Williams of Shadow Government Statistics in his annual report on hyperinflation.

    Historically, governments that have suffered bouts of hyperinflation - most notoriously Weimar Germany from 1922-1923 - have set the table by printing too much money during a time of economic contraction.

    The trouble is, once it starts it's impossible to stop. Hyperinflation in America isn't here yet, but we're edging dangerously close to the point of no return.

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