Jim Rickards: “Next Collapse Will Be Exponentially Bigger- Dollar Will Collapse 90% or More!”

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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