The global economy is on the path to hyperinflation and risks societal collapse if soaring prices are not brought under control, one of the world’s biggest hedge funds has warned.
Elliott Management, the hedge fund founded by Wall Street billionaire Paul Singer, hit out at central bank rate-setters in an apocalyptic warning to clients as rate-setters bring the era of ultra-cheap money to an abrupt end.
The world economy faces an “extremely challenging” outlook and hyperinflation could result in “global societal collapse and civil or international strife”, the letter to clients said, the Financial Times reported. It said central banks have been “dishonest” in deflecting blame for the price surge from their prolonged use of ultra-loose monetary policy.
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