G. Edward Griffin on Quick Fixes, the Looming Great War and Loss of Elite Moral AuthoritySubmitted by Katherine on Sun, 09/30/2012 - 15:20
Sunday, September 30, 2012 – with Anthony Wile
The Daily Bell is pleased to present this exclusive interview with G. Edward Griffin.
Introduction: G. Edward Griffin is a film producer, author and political lecturer. He is the founder of Freedom Force International, a libertarian-oriented activist network focused on advancing individual freedom. First released in 1994, Mr. Griffin's best-selling financial book, The Creature from Jekyll Island, is a no-holds-barred look into the inner workings of the Federal Reserve banking system, or cartel if you will. Mr. Griffin's literary contributions are especially noteworthy given the validity of his vision and the exciting and troublesome nature of the times in which we live.
Daily Bell: Let's jump right in. Are we seeing significant price inflation now?
G. Edward Griffin: It depends on how you define significant, I suppose. I think it's significant. My personal feeling is the price index is greatly distorted. They keep fiddling with the formula to make it look as good as possible but real inflation, at least here in the States, in terms of the major components of what people buy to live day to day, such as groceries, gasoline and clothing, my feeling is that inflation is already at the double digits. I think it's ten percent if not more. That I think is significant but then again it's nothing compared to what I think we are going to see.
It seems to me that probably within the next two years we will be experiencing 15, 20, 25, 30 percent and so forth. It may be much higher because I have a feeling there is a certain tipping point coming when people finally realize – and they always do – in any country where the currency is grinding down. There comes to be a point, like in Russia or in Germany, for example, when inflation was modest and then within a period of a few weeks inflation was way, way out of proportion. It was a psychological factor that made the difference. Nothing else changed except the awareness level that the money was no good. So I kind of think we are going to see similar psychological influence like that here and probably we will catch up with all the inflation that should have been in the market very quickly.
Daily Bell: Are the elites running scared?
G. Edward Griffin: I don't think the power elites are running scared, no. I think they are very confident that everything is under control. I think they are not worried about the crisis because they want the crisis; the crisis is part of the plan. The monetary crisis, the military crisis, social crisis, racial tensions, crime crisis, environmental crisis – those things all feed into their plan because that's what frightens people and what makes them passive to accept all these programs that they offer to expand government and increase taxes. So I don't think they are running scared. I think they're saying to themselves very comfortably that 'everything is on track and things are going according to plan and exactly as we wanted.'
Daily Bell: Is the central banking economy breaking down?
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