About CNBC's "Squawk Box"

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CNBC Squawk Box. Anchored by veterans Martin Soong and Karen Tso, the new "Squawk Box" continues to be the jumpstart on the business day for the corporate and financial communities. CNBC's signature show is better than ever, providing viewers with the edge to stay ahead: breaking news, connecting with newsmakers and chasing the hottest stories, as well as the ones that aren't hot... yet.

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Host 1: Martin Soong

Host: Todd, a couples of seconds ago I noticed skepticism in your voice. You think it’s going to get that bad or is it just we’re going to get the price of gold up?

Todd G. Everts: I don’t think Martin scare-mongering because he has a vested interest in gold because obviously he has an opinion he’s trying to portray that opinion. I think that the fact the US dollar would have a depressed price over time is something that is quite obvious just do the trade deficits, and the fact that over time the US consumers will not be able to continue to drive world economies as we’ve seen in the last several generations.

Host: So are we going to have hyper-inflation then?

Todd G. Everts: I don’t think we’ll have hyper-inflation to the extent that we’ve seen in fallen economies like we saw several years ago in Argentina, Brazil, what’s happening right now in Iceland.

Host: So it’s not going to be sort of a Zimbabwe proportions there. But you know one thing that Martin was trying to get out but we didn’t have time was that there’s more paper gold out there than actual physical demand. What does that mean?

Todd G. Everts: Well everything I’m hearing in reference to production of gold, delivery of gold and getting actual certificate form of gold is incredibly difficult because there’s such a flight to it and that I’m hearing the same thing in reference to precious stones. People want to be able to find alternatives, that’s what I was referring to before…in different economic times where we’ve had stock markets go down, bond markets go down, even credit markets go down we’ve always had another asset class to go to…the difficulty today is you can’t just go to cash..what is cash? Cash is a several trillion dollar money market mutual fund industry in the US which has seen several funds lose its 1 dollar NAV…so the typical cash instrument is not one that many people can actually go to…and they’re looking for alternatives and that’s why we’re seeing such an interest in gold, precious metals and other types of alternative asset classes.

Host: So melt your class ring, is that what you’re saying?

Todd G. Everts: No I don’t think we’re into that point but diversification as always is the key and the tool.