I think the fundamental problem this writer has is he expects history to repeat itself, and it never does. It does rhyme often, but the things that are different about then and now will make the outcome different too. As has been mentioned already, 1980 and today are two completely different places in time. 1980 we were less than 10 years into a pure fiat currency, worldwide energy daily output was still growing. The concerns that turned out to be false back then about the dollar plunging had some real merits for consideration at the time. But since Oil from OPEC was pegged to the greenback, and since our military put on demonstrations in the middle east to show we will be served, and the cold war was still raging, ultimately those concerns did not come to fruition. A new president came in with his kick the can plan, where he expanded on the concept of pushing our problems down the road in massive fashion, and there was still capacity to run that scam for quite awhile.
Today, the debt us monstrous in comparison to 1980, and the Fed is the primary buyer of the new debt since there is no other major player still in buy mode, and we have the previous #1 and #2 buyer and holder of the debt looking to liquidate (China and Japan). What the author clearly doesn't understand is that hyperinflation looks a lot more like deflation than it does like inflation as it begins. When prices of basic needs fall (food, energy), there are more dollars chasing non essential items, so inflation happens per the consumer price index and other government accepted inflation measures (which in turn are the ones trumpeted to the masses). Since food and energy is not included in the official inflation numbers, inflation jumps when our basic needs are met at constant or deflating monetary cost. When the cost of food and energy is going up (i.e. right now), then there are less monetary dollars chasing non essentials, so the price falls, and they call it deflation, even though the essentials are inflating or staying the same. The difference between this deflation and hyperinflation is whether or not the price of food and energy any other essential commodities goes up a little, or a lot in terms of monetary cost. If it goes up a lot, it would be due to a lack of confidence in the currency, and hyperinflation defined is the debasement of a currency so that it has no value relative to finite, needed items, such as food, energy, etc.
The idea behind gold and silver is that since it is backed by a commodity in finite supply, if the other "survival" commodities skyrocket, silver and gold keep a similar pace and a similar exchange value to those survival commodities. Nobody trying to accomplish this is buying paper silver. The speculation and potential bubbles and all that crap are in paper silver. Only an idiot would buy and sell physical silver as a short term investment. Same with Gold. Paper silver is not a long term investment, unless you in turn take delivery of the physical silver.
So the question boils down to, do you believe the can will be kicked down the road much further, or do you think our day of reckoning is nigh? Personally, I don't see how they can kick the can much further, as continued Fed purchasing of treasuries threatens to debase our currency, and fiscal reform that stops the creation of new debt will crush the economy and leave us no way to finance our current debt load, and will make the ratio of debt to GDP go so far out of whack that our currency will be debased with or without quantitative easing. If true deflation is going to somehow win when it comes to PM's and non essential goods and services, it will still lead to defacto hyperinflation when it comes to survival commodities (maybe the USD to food exchange rate stays the same, but USD supply drops to the point most can't afford food). So make sure your savings are first and foremost in food and water (either storage or source, preferably both), and that only when that is taken care of do you augment with Silver and Gold to protect against debasement of the currency.
In a nutshell, I am calling bullshit with this article.