One of the world’s largest and most influential hedge funds is warning that “dishonest” policymakers have set the world on the path to potentially the worst period of hyperinflation in modern history, which could result in “societal collapse.”
Elliott Management, a Florida-based firm founded by billionaire Paul Singer, said in a letter this week that an extraordinary set of rash policies during the coronavirus pandemic have “made possible a set of outcomes that would be at or beyond the boundaries of the entire post-WWII period.”
“Investors should not assume they have ‘seen everything’” just because they’ve lived through numerous other financial crises, the letter said, according to the Financial Times, the idea that “‘we will not panic because we have seen this before’ does not comport with the current facts.”
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