Friday, August 5, 2022

James Rickards: Countdown To Crisis, How To Prepare for the Upcoming Economic Collapse

Jim Rickards is a former lawyer and investment banker turned economist and bestselling author who has correctly predicted a catalogue of unseen financial events that have taken place in recent decades discusses the coming global economic collapse that is set to unfold in the next few years.

Do you still have time to prepare accordingly, can the West avoid it, or have we pass the Rubicon already?

Friday, July 22, 2022

Jim Rickards: If You Put Your Money in the Bank it's Not Your Money Anymore

Jim Rickards breaks down the current state of the financial system and explains how if you place your money in a bank, it is no longer legally your money anymore.

This could have dire consequences as we move forward and as the global financial systems around the globe begin to collapse.

Is your money safe? Are you investing in hard assets such as gold and silver bullion, physical, that is in your hands and that you can touch?

Thursday, June 30, 2022

Jim Rickards: The Global Elites Secret Plan for the Next Financial Crisis

Jim Rickards discusses the global elites plans for the next major financial crisis, which many argue we are now already within.

What are they going to be doing with their money and what does Jim Rickards recommend we do to protect ourselves as well?

Listen in to find out this information, plus much more.

Wednesday, June 15, 2022

James Rickards: What is Going to Happen to the US Dollar? Will it Plunge and Gold Soar?

Trading partners won’t stand still while you cheapen your currency. They will react by cheapening their own currencies in tit-for-tat devaluations. That’s the nature of currency wars and it was a major reason why the Great Depression lasted so long instead of just a year or two.

Countries can retaliate against trading partners to get a cheap currency by intervening in foreign exchange markets, lowering their interest rates (to discourage capital inflows), imposing capital controls and using other forms of manipulation.

As I said earlier, the world is now in an acute phase of a long-standing currency war.

The yen (JPY) is collapsing because the Bank of Japan needs help with exports to fend off another recession. The euro (EUR) has crashed because the ECB also wants to keep interest rates low and exports high to help member economies.

The Chinese yuan (CNY) is falling rapidly because China’s economy is suffering from the effects of its ridiculous zero-COVID policies and softer demand from the U.S., the EU and Japan. The same is true in pounds sterling (GBP) because the U.K. is on the brink of a recession.

In effect, the second-, third-, fourth-, sixth- and seventh-largest economies in the world (China, Japan, Germany, the U.K. and France) and others comprising over 40% of global GDP are free-riding on a strong dollar by pursuing cheap-currency policies.

The question is how long will the U.S. stand for this? The U.S. clearly does not mind the strong dollar for the time being. The Fed’s interest rate and quantitative tightening policies point toward an even stronger dollar ahead.

As long as U.S. growth is solid, the U.S. might not mind being a financial life preserver for the rest of the world by allowing its trading partners to pursue cheap currency policies. This can help fight inflation in the U.S. by making foreign imports cheaper when paid for in strong dollars.

History shows this won’t last. The Fed’s policies will put the U.S. into a recession by late this year or early 2023. That may help kill inflation, but it’s a nightmare for politicians running for reelection in 2024. Suddenly, the Fed may slam the brakes on rate hikes and even begin rate cuts as they did in 2019.

When that happens, the U.S. dollar will plunge and the dollar price of gold will soar. Currency wars don’t end quickly. They do take time to play out. The U.S. is propping up the world today with its strong dollar approach because policymakers think we can afford it.

When a recession hits the U.S., that policy will change fast. It always does.

- Source, James Rickards