JAPAN-QUAKE/Jim Rickards, author of the best-seller Currency Wars, sees the world’s central banks embroiled in a “race to debase” their currencies in order to restore — at any cost — growth to their weakened economies.
In the midst of the fight, the US Federal Reserve wields oversized power due to the dollar’s unique position as the global reserve currency. As a result, actions by the Fed create huge percussive ripples across the battlefield, often influencing events in ways little understood by the players — and especially by the Fed itself.
In Rickards’ words, the policymakers at the Fed “think they are dialing a thermostat up and down, but they’re actually playing with a nuclear reactor — and they could melt the whole thing down”.

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  1. I listened to this last night and was refreshingly surprised. Normally you’d swear Rickards is giving the same interview he has for 2 years. I found this a little more insightful though.
     
    Either way, we must be getting closer to the abyss. Things are so distorted now, in my view, that the idea that we’re getting out unscathed is far gone. My bet STILL is some half cocked military engagement for a smokescreen.
     
    They laid an egg on the syria invasion, but now I see them trying to bring iran into the fold as an imminent threat, and the palestine thing too. Things has been kicked so far down the road, when it blows… boy oh boy.
     
    And the metals. .Getting mercilessly punked in the face of a million reasons they should be flying.. Not the least of which is the budget and debt ceiling.

    • I mean simply go to the last paragraph in “3 Pigs Sturm Gates of Hell”, and you got the pix.  LINK -> http://goo.gl/rfb5Xz
       
        MOST but not all of this stuff ends with a wimper not a bang, but that is no guarantee someone or something wont fall flat with a big noise……..

    • I believe we are in a metals to paper decoupling phase.  The merry-go-round will stop once a big player finally defaults to another big player with physical gold.  I believe we have less than 6 to 12 months at current gold buying rates and JPM vault status. 
      Until then I expect the metals to just get kicked sideways and doubt we’ll see any significant price increases. 

    • no kidding, right?  WTF…silver has waterfalled 30 cents since 12pm Eastern and it’s still sliding fast…but on no “nooze”?  Of course any nooze whether seemingly good and especially if bad are both bad for the PM’s these days. 

  2. With all due respect to Jim Rickards and all the esteemed guests that you have had over the years, I would like to put out another possibility of what is in store for us plebes.
    I have heard terms like this “could” melt the whole thing down, Bernake should resign, Calamity Yellen is next and on and on. My view is that this trajectory we are on is deliberate. The derivitives created were deliberate. (congress took away all the safeguards). The bail-outs were deliberate. The bail-ins are deliberate. The wars are deliberate and planned long ago. The support of the 1% and the pauperization of the rest of us is deliberate. The debasement of the dollar is deliberate and every country that has a central bank is doing the same—deliberate. The only holdouts are being or have been attacked (ala Smedley Butler said in his book. Get with the program our we come and get you to comply) Look at the “confessions of an economic hitman”.
    The satanic powers that be are taking this ship down deliberately, as per plan, it is meant to happen, and we are being beat into submission so that we will accept their solution. Nothing I see going on these days strikes me of anything that was not in the works for generations going all the way back to Baron von Rothchilds famous saying “Give me control of a nations money supply and I care not who makes its laws” 1776.
    As I am just a poor schmuck trying to put it all together I would like the dialogue in sites like this to put out the possibility that maybe, everything is going to plan and what should we be getting ready for? I agree wholeheartedly that gold and silver and hard assets are the place to be, otherwise we would not be seeing this massive attempt to hold it back. I personally think that we are heading for the great reset where there will be a new currency (SDR’s) and a fantastic revaluation in gold and silver. The less people that are aware of this the better for the powers that be because when the surprise happens (on some weekend in the near future) they create more power and control for themselves. “They” are not dumb or stupid (evil, yes) as they know exactly what they are doing.  The more of us that know that this “plan” is just one of countless others and is “The End Game” for them, and is where “they” consolidate control for their “world Government”, the better.  Talk of it “could” melt this whole thing down is not the right term. This whole shebang is going down when they want it to—as per plan.

    • Either that or we’re waiting for it to self-enrich and then drain into a crack that gets it to critical mass… boom.
       
      Game over, man, game over!
       
       

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