''Robert Prechter and James Turk on inflation vs deflation''

From GoldMoneyNews

''Robert Prechter of Elliott Wave International discusses inflation and deflation with GoldMoney's James Turk in this podcast. They also talk about GoldMoney, and the advantages of owning allocated gold stored at secure vaults.

Both men differ on the question of whether or not inflation (defined as a rising price level) or deflation (when prices fall) will be the dominant economic trend in the years ahead. Prechter argues that governments and central banks will be unable to prevent a big collapse in financial markets, owing to debt defaults and massive contractions in bank lending. In contrast, Turk thinks that America is heading for hyperinflation, owing to the US government's unwillingness to change its spending habits and the Federal Reserve's continuing monetisation of government deficits.''