I have said recently that the Hyperinflation will begin by December 2023. Let us define the word Hyperinflation with a specific number. Years ago I said Hyperinflation begins at 25%. I would cite Paul Williams of ShadowStats.com as an authoritative statistical source. He says that the government CPI numbers are kept deliberately low so DC Swamp Creatures can save money on cost of living raises for pensioners and people with union contracts and government jobs who are supposed to have raises based on inflation. The chart below is his real inflation chart.
As you can see, the real inflation rate is already nearly half of what I defined as Hyperinflation. And Biden is planning a $3.1 trillion budget deficit for 2021 and more for 2022.
There are a few people overseas who hold onto dollars because they still like America. The American Dollar is an international reserve currency which is held instead of gold by many countries. But at a 25% annual decline in the purchasing power of the dollar, those few remaining friends will dump their dollars as well. At that point, every currency will be reset in terms of gold. At that point, an American will have to pay something like $20,000 or so for two ounces of gold to get a gold letter of credit to buy something from overseas. Prices will then spike even higher and permanently cut wages and pensions by 60% so that $20 an hour after taxes job will pay $8. Not Good.
How did America get here? We had high wages after WW II and lots of productivity gains since. But Wall Street decided to raise the population from 123 million in 1929 to 333 million today. They did get rid of some of the native stock by starving 3 million of them to death in the 1930s and getting a million killed in their wars.