ted butler doesn't expect hyperinflation any time soon, but expects silver to do very well no matter what the economy does:

Daily Bell: What do you think will be the result of the current economic crisis? Depression? Hyperinflation? Both?

Butler: At this point, neither. Or, at least, I hope. Times are tough for many people and in too many industries and economies. Any recovery is going to be slow. At this point, the various stimulus programs should keep us out of a severe depression. But we did have way too many excesses and it's not all bad that we are adjusting away from those excesses. It had to happen at some point.

I know hyperinflation is on everyone's mind, but the monetization has been absorbed by the sinking economy and any hyperinflation, should it come, will not come quickly. And perhaps not at all. Of course, I reserve the right to change my mind.

Daily Bell: Will the bailouts taking place in the West help at all?

Butler: I hope so. What's the alternative, let everything slide down a big black hole? I agree that it is shameful that we allowed things to get to this extreme state and there is plenty of blame to go around, but how do you turn back the clock and undo all the policy mistakes over many years?

It's distasteful to see bailouts of entities that should normally be allowed to fail, but these aren't normal times. You have to play the cards you're dealt, not wish you had different cards. One thing the authorities could do along with the bailouts, though, is throw more people in jail who were responsible for much of the damage.

I would like to make one point. While all these current issues consume our thoughts and time, we must not get sidetracked. At the end of the day, every investor must make the simple decision as to what to invest in specifically. To me, the choice seems clear - silver.

http://www.thedailybell.com/bellPage.asp?nid=453&fl=