panic crashFinancial expert and best-selling author, James Rickards, thinks the international monetary system is headed for a collapse.”  .  Fast forward to today.  When the next collapse comes, it is going to be bigger than the last one.  It’s going to be exponentially bigger.  The five biggest banks were too big to fail in 2008, today they are bigger.  They own a larger percentage of the total banking assets. . . . When you double or triple the scale of the system, you don’t double or triple the risk.  You increase the risk by an exponent that could be 10 times or 100 times greater.”
On the Fed engineering another 2008 type bailout, Rickards claims, “The last crisis was barely enough for the Fed to contain.  They have used up all their dry powder.  They can’t take the balance sheet any higher.  They are already insolvent. . . . The game is up.”
Rickards foresees big inflation because the U.S. dollar’s buying power will shrink.  Rickards predicts, “Imagine gas at $20 a gallon and bread at $10.  That’s what we’re talking about.”  So, if big inflation is coming, what about gold?  Rickards says, “When I say the price of gold is going to $7,000 or $9,000 per ounce, which I expect it will, what I am really saying is the dollar is going to collapse 80% or 90% or more.”  It did in the 1970’s.  None of this is unprecedented.  It all happened before.”  


Join Greg Hunter as he goes One-on-One with James Rickards, author of the new book “The Death of Money.”

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  1. I’ve not really pay alot of attention to Rickard’s since he’s not really provided any real insights for quite sometime. I’m afraid he’s just another book pusher with nothing new to present. In fact, I feel as though he’s just piggybacking off much more outlandish authors that are less well known.

  2. good one TheRedPill
    I have a new category of pundits
    The Barking Loon Society
    Membership is free.    I’ll volunteer as the first member
    No dues, no meetings, no newsletters
    You get a membership card   Just your name and the initials  B.L.S.
    Uh, already taken
      The government owns that one
    I was going to invite Rickards to join but he’s also owned by the government
     
     

    • Sorry, but I just spent my last $1200 on an at home study course on becoming a Travel Agent!  I always wanted to help people see the world and make money at it too! I can’t wait ’till I graduate.

  3. Breaking from my preferred decorum … you know … it really burns my freakin’ ass that these pompous, motor-mouthed ‘experts’ get out here to concede that their precious damned banknote boondoggle is disintegrating in their hands and pouring through their fingers like sand … yet STILL assert ‘in passing’ that they believe the banknote scheme ‘is a good system’ … ‘if only the right managers were in charge’. That’s an obvious load of freakin’ CRAP once the basic design of the thing is understood to be mathematically DOOMED, no matter WHO is given the … immensely lucrative … ‘job’ of running it.

    And there’s the ‘tell’. Every single one of these ‘professional expert economists’ … from Marxists, to Keynesians, to Friedmanites, to the Austrians … are ultimately lusting over plunging their sniveling noses into that huge mountain of Plantation Scrip so THEY can live like Barons and Lords … all else be damned.

    A few years ago, I wrote to challenge members from entire gamut to explain how and why my understanding of the banknote scheme’s design of perpetually co-generating inflation-debt, is wrong … and not a SINGLE ONE of them responded with a countermanding argument! NOT ONE.

    The scheme is economic and financial SUICIDE, but barely a handful of these prancing, self-centered SOBs are honest enough to come out to say so and explain why. No, they get hot and cream themselves in thoughts of ‘taking control’ of it. It just pisses me off, no end!

    • @PatFields
       
      “It just pisses me off, no end!”
       
      Yes, Pat, we know.  lol
       
      “… yet STILL assert ‘in passing’ that they believe the banknote scheme ‘is a good system’ … ‘if only the right managers were in charge’.”
       
      Even communism, that most bankrupt of political philosophies, has its apologists who assert the very same thing.  “It’s not that communism isn’t a good system, it’s just not been done correctly”, they shout.  HA!  It IS because it is a lousy system that it doesn’t work and it matters not a whit who does it.  A bad idea done superbly well is STILL a BAD idea!
       
      “A few years ago, I wrote to challenge members from entire gamut to explain how and why my understanding of the banknote scheme’s design of perpetually co-generating inflation-debt, is wrong … and not a SINGLE ONE of them responded with a countermanding argument! NOT ONE.”
       
      Did you really expect them to waste valuable looting and pillaging time answering a question that both you and they clearly know the answer to already?  Not gonna happen.  There’s old folks and orphans to cast out into the snow to starve and freeze and money to be made foreclosing on their huts and hovels.  Muahahahaha!
       
      One humorous aspect of this is when someone confronts these immoral b@st@rds with questions about their morality and what God will do to them one day.  They usually just look down their noses, sniff, sneer, and mutter something about not believing in God… as if that holds any sway whatever.  It does not matter a rats rosy red patootie, in fact.  What God knows, on the other hand, is pretty much ALL that matters.  The real question in my mind is, “Does God believe in them?”.  I would think that He is FAR from impressed by their behavior towards their fellow human beings.
       
      “The scheme is economic and financial SUICIDE, but barely a handful of these prancing, self-centered SOBs are honest enough to come out to say so and explain why.”
       
      This sounds exactly like our amazing politicians.  When they are confronted by the mathematical certainty of their beloved social programs collapsing, they still refuse to make ANY changes in them that makes them cheaper, smaller, more efficient, and able to last longer.  All they want to do is make them larger and more expensive… even though that will clearly hasten their demise.  It is difficult to converse with people who are not rational.  They cannot see what IS because what they desire is blocking their view.
       

  4. Now this I can understand without my Roget’s Thesaurus and Wikipedia.  Cheers Pat Fields.  That is exactly what would say if I had thought of it   You saved us the time to type it
     thank you
    Anyone talking about a 90% devaluation of the EVERY LOVING DOLLAR  is still talking about $lave chit$ even when they are talkng up gold as the best asset to own today.
     

    • @AGXIIK
       
      A 90% devaluation of the US dollar is VERY unlikely to happen quickly, IMO.  If it happens at all, it will likely play out over a time period of at least several years.  Even back when gold went from $250 to $850 in a short period of time, it also fell back to $300 or so and stayed there for a couple of decades.  Inflation spikes like that are nasty, no doubt, but when averaged across 20 year time periods, tend to disappear from the public consciousness.
       

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