During the hard hitting discussion they get to the heart of elite constructs in which Rickards notes, “This is not left versus right. Conservative versus liberal. Those phony distinctions these days. This is the elites versus everybody else.”
Jim Rickards is a three-time best selling author that advises the U.S government on financial threats and was general counsel to one of the most influential hedge funds in history. He holds 35 years of experience working in
Rickards then dives into historic analysis saying, “In 1998 Wall Street bailed out a hedge fund, in 2008 the central banks bailed out Wall Street, in 2018 (I am assuming a ten year tempo, but it could even be tomorrow – that’s the point) who is going to bail out the central banks?”
“Each bailout gets bigger than the one before. Who is bigger than the central banks? There is only one clean balance sheet left, that’s The International Monetary Fund (IMF).”
The best selling author goes on to note that, “The next crisis is going to be bigger than the central banks. They are going to have to turn to the IMF. The IMF has a printing press and they have the Special Drawing Rights (SDR)… I call it world money. They don’t want to call it that, but that’s what it is…”
In an interview that stands out above the crowd, the best selling author and economist candidly breaks down how the elites plan of action for the next phase of financial crisis could unfold.
- Source, The Daily Reckoning
