South African Billionaire Predicts Hyperinflation

Previous PostCalendar Listing Miami: DawnTown Awards
Next Post Peace, Love, and a Few Glasses of Beaujolais

In the world of economics, “hyperinflation” is the term used for inflation going out of control, where prices increase rapidly as currency loses its value. That said, many have advised that we stock up on the things we have right now, such as jewelry for example.

According to Bloomberg News, South African billionaire Johann Rupert said, “If we enter hyperinflation, you’re going to be so glad that you bought that stuff two months or six months ago.” He added, “If inflation picks up, you’re going to see people running into your stores, buying high jewelry.”

Not surprised by this country’s periodic frenzies, inflation could possibly cause a mob to form outside the Cartier store on Fifth Avenue. Prepare to scramble over others, folks.

Of course, we can note that Rupert has something to gain-his company, Richemont, is the world’s second largest luxury goods maker. While talking with investors in the company, he anticipated “normal growth” with luxury sales showing signs of recovery this month and next. What worries him is quantitative easing (queasing), which involves governments’ pumping money into their economies to gain short-term stability. That could, however, lead to a nasty hangover in the form of heavy inflation rates in a few years.

To beat these issues, dig your money into rich things, but not cars since they tend to lose value quickly. Gems, for example, will be more than shiny in a few years.

Via: Luxist

connect with haute living National