He says essentially what I said in my post.
Here's Marc's interview on CNBC in Moscow:
Marc warns we're near a crack-up-boom as termed by Ludwig von Mises:
If once public opinion is convinced that the increase in the quantity of money will continue and never come to an end, and that consequently the prices of all commodities and services will not cease to rise, everybody becomes eager to buy as much as possible and to restrict his cash holding to a minimum size. For under these circumstances the regular costs incurred by holding cash are increased by the losses caused by the progressive fall in purchasing power. The advantages of holding cash must be paid for by sacrifices which are deemed unreasonably burdensome. This phenomenon was, in the great European inflations of the 'twenties, called flight into real goods (Flucht in die Sachwerte) or crack-up boom (Katastrophenhausse).
Marc also smartly comments that inflation is not an equal force across the world. It is normal for people to be affected differently because not all prices go up equally. We see that in the costs of healthcare vs the costs of technology. We're seeing inflation rates running at red line in many of the emerging markets. This will continue until inflation under the classical definition (increase of the money supply - QE by central banks around the world) stops and politicians and central banks are honest with their people - "We can't continue, and we have to default". or the monetary system (USD / Bretton Woods / Euro) is destroyed.
We can look forward to all of the regions that are highly "leveraged" to the per capita price of food and fuel as percentage of income, and cannot be easily subsidized by their respective government (Pakistan vs Saudi) turn into a raging inferno of unrest, tearing each country apart.