"You can mark my words, inflation is coming."

Craig Smith's new book "The Inflation Deception" examines a future of through-the-roof inflation. Smith came on the Matt Friedeman Show today to talk about the theme of his book.

Why this book now?

You know Matt I wrote a book last year called "Crashing the Dollar".

That movement has really caused a monetary problem called inflation.

Price inflation is quite a bit different than monetary inflation.

What does it mean for my pocket book? What does it mean for my family?

You're going to see higher oil prices, higher food prices. 

Will it be a modest 3-5% like we've had over the past 30 years?

We will see rates of 3-7 percent over the next year, then starting in 2013 we could see rates up to 50%.

All we've done is pump up Wall Street...but we're not enriching the average man.

That market is doing okay, but it's not doing well enough to take care of the average man.

That almost seems like it's planned?

It does. And I'm not a conspiracy theorist.

Inflation will reward people who are deeply in debt, but hurt people who aren't.

We were built on a society that believe we were exceptional as Americans.

If we prepared for the uncertainty of retirement, we'd do rather well for ourselves.

It's created something that our founding fathers never envisioned for this nation.

It's time that we had a government of the people, by the people, and for the people.

I'm convinced Matt, if the American people are given the facts, they will make the right decisions.

What are three political ways to reign in inflation?

We believe the most important way is to vote.

Vote in people who are in favor of balanced budgets.

Also, we need to pass a balanced budget amendment.

To enact a more simple tax system, a more fair tax system.

Look, if you're voting in America you should have some skin in the game.

We cannot have 50% of the American people not paying taxes.

If someone wants to guard their own pocketbook, what should they do?

They have to be diversified.

They need to have some gold in their portfolio.

You can mark my words, inflation is coming.