Who Bails Out Central Banks in Coming Chaos –James Rickards

By Greg Hunter’s USAWatchdog.com

(This in-depth interview (more than 1 hour) will take the place of the Weekly News Wrap-Up and the Early Sunday Release.)

Best-selling financial author James Rickards says “We are still in the aftermath of the 2008 – 2009 financial crisis.” In the up-coming book titled “Aftermath: Seven Secrets of Wealth Preservation in the Coming Chaos,” the crisis of the Great Recession may be over, but “nothing is fixed.” Rickards explains, “I understand the economy has been expanding for 10 years, and we are not in a liquidity crisis at the moment and unemployment is low. We have come a long way from that. The fundamental problems that gave rise to that have not been solved. . . . So, unlimited guarantees, unlimited money printing and unlimited currency swaps and, yeah, they truncated the crisis, but all that happened was the bad debts, the leverage and the problems were now lifted up to the central bank level. You’ve got this progression. First, it is the hedge fund. Then, it’s Wall Street. Now, it’s the central banks. Who is going to bail out the central banks? That problem has not been solved, and it’s still on the table.”

Rickards says don’t think the Federal Reserve is going to come in and ride to the rescue in what Rickards is predicting to be a “coming chaos.” Rickards contends, “Interest rates are 2.25%, but that is not what you need to get out of a recession. I am not predicting one, but if the U.S. economy went into a recession . . . history in economics says you need to cut interest rates 4% to 5% to get the U.S. out of a recession. How do you cut interest rates 4% when you are at 2.25%? You can’t because there is not enough room. You get to 0% pretty quickly, and now what do you do? You are still in a recession and you go to QE4 (money printing), but how do you do that when the Fed balance sheet is at $4 trillion. You are at a boundary. You are at a confidence limit. So, the Fed is not ready for the next recession, and they can’t get there.”

Rickards is not seeing a recession anytime soon. In fact, he is not forecasting a recession until after the 2020 Presidential Election. What does that mean for the chances of a second Trump Presidency? Rickards says, “If you put recession odds at 35%, and that is probably high, then the inverse of 65% is his probability of winning. . . . Every month that goes by, the odds of a recession by next summer go down. So, the odds of Trump winning go up. . . . I don’t want to debate the economics of the Fed and what they are doing, but the Fed is doing what it needs to do to avoid a recession, and that improves Trump’s odds. Right now, I have Trump as the winner.”

After the 2020 Presidential Election, Rickards is much less optimistic and so are the wealthy elite.  Rickards says, “The rich are building bunkers. Entrepreneurs are actually buying abandoned missile siloes with armed guards and steel doors. . . . Here’s another interesting thing, hedge fund billionaires may trade stocks, bonds and currencies all day long, but when you ask them where do you have your own money, every one of them that I have spoken to have gold, physical gold. . . . They all have gold. They don’t trade it, but they have it.”

Rickards covers a lot of ground in this in-depth interview that is more than one hour in length. Rickards talks about the new gold (and silver) bull market, what everybody, especially the small investors, needs to buy now, and talks about a gold price that is exponentially higher than today’s price. Rickards discusses the world’s massive debt, probability of big defaults and huge inflation all coming in the “Aftermath” of the coming crisis. Rickards also tells people what they can do to protect themselves.”

Join Greg Hunter as he goes One-on-One with James Rickards, multiple best-selling author of a new book titled “Aftermath: Seven Secrets of Wealth Preservation in the Coming Chaos.”

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After the Interview: 

To buy a copy of “Aftermath: Seven Secrets of Wealth Preservation in the Coming Chaos” click here.  The book will be in bookstores on July 23.

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  1. Anthony Australia

    Bang! He is in Australia soon , can’t wait.

    Ride the wave Greg, taking you away form denial and to an honest reality.

    Thank you.

    • Rob

      Here is the honest reality we are headed for through the next decade in which the tribulation will occur concurrently:


      Prepare accordingly:


      • Galaxy 500

        BIS doesn’t have the power to do what he saying.
        But what I find most disturbing is you predicting the time of Jesus’ return. How do you have the time frame figured? I ask because EVEN THE SON OF GOD doesn’t know and yet you do.
        Wow, I have how you know and Jesus doesn’t ?

        • Rob

          Good morning Galaxy!

          Jesus told us to watch for we know not the day or hour:

          Matthew 25:13 Watch therefore, for ye know not the day nor the hour.

          But we were clearly warned that the day of the Lord which is a year long and AFTER the tribulation would not overtake those watching:

          1 Thessalonians 5:1-4 But concerning the times and the seasons, brethren, ye have no need that aught be written unto you. (2) For yourselves know perfectly that the day of the Lord so cometh as a thief in the night. (3) When they are saying, Peace and safety, then sudden destruction cometh upon them, as travail upon a woman with child; and they shall in no wise escape. (4) But ye, brethren, are not in darkness, that that day should overtake you as a thief:

          It was not until AFTER Jesus ascended that our Father revealed to Him the Revelation that He then gave to us that help us understand the mystery:

          Revelation 1:1-3 The Revelation of Jesus Christ, which God gave him to show unto his servants, even the things which must shortly come to pass: and he sent and signified it by his angel unto his servant John; (2) who bare witness of the word of God, and of the testimony of Jesus Christ, even of all things that he saw. (3) Blessed is he that readeth, and they that hear the words of the prophecy, and keep the things that are written therein: for the time is at hand.

          While I am not trying to declare a “day or hour” it is very apparent that the “times and seasons” of our Saviors return within the next decade are are easily discernible :o)

          Please take some time to peruse my site as I think you will be blessed brother:


          Love in CHRIST! Rob

    • AL HALL

      Greg: He is full of bull-crap!! specially when you asked about the missing $21T. Bad accounting – BS!!! I know what W told me!

      • Pablo

        Great work Greg for bringing up the Missing Trillions even though he totally had a BS answer..

        How nice, he WOULD be concerned if they were mis-spending 21 Trillion, but that’s the CATCH!! There is ZERO Congressional oversight, so no way to know if there are or not… Even “secret” weapons should be held accountable to select Congressional committees, they are supposed to be vetted for security secrets are they not?

        PS: Him being invited to an invitation only Elite event says all there is to know about this guy, a total mouth piece

        • Greg Hunter

          Rickards did get some really good info out. When asking about the $21 trillion he said “I know about it.” This means the elite know about it too and are talking about it. He also asked the question “Who bails out the central banks?” This is another question the elite are thin king about and I think they have an answer. Gold and silver bailout central banks in a reset or revaluation. This was a big “read between the lines” reveal and I have to thank Rickards for this.

          • Paul in OZ

            All of the missing 21 trillion is bad accounting, this site https://home.solari.com/dod-and-hud-missing-money-supporting-documentation/ clearly documents that fact.

            What is much harder to know is whether any or all of bad accounting contributes to more debt or if the debt is incorporated into the countries financial situation. When there is inadequate supporting documentation, proper accounting would typically result in a write-off which affects the bottom line. FASAB 56 of course makes everything impossible to ever discover anything again. The period of time was 1998-2016 and could possibly be above and beyond but IMO could also be represented in the debt of the country. Bad documentation makes it impossible to know not just one half of the dr/cr equation but both. NO matter, the 21 trillion of bad accounting is completely unacceptable and a properly running organization would add substantial internal controls to prevent further leakage of the nations resources.

          • pablo

            I know you have to walk a fine line otherwise if you beat up a guest too much they won’t ever want to come back… His reaction (at first trying to dismiss it as mere bad accounting then saying maybe its for top secret weapons) pretty much said it all. He’s an insider probably had to sign a million non disclosure agreements and the Pentagon and CIA screens every aspect of what gets written in his books. The sales of which are undoubtly the pay off for being their mouth piece.

          • SamAdamsGhost

            “ just very sloppy accounting “

            I gotta chuckle out of that one. Mr Rickards apparently still actively communicates with those in the defense & intel establishments . That said, I thought it was an excellent interview. Very informative

            • Greg Hunter

              Thank you “Sam”!! Rickards did give up one very big piece of information if you listen closely. When I was asking about the $21 trillion in “missing” money he said very low “Yeah, I know about it.” This means all his rich clients “know about it” and might be the reason they are buying physical gold and building bunkers. Rest assure, no only do the elites “know about it” but they believe it is real. We should too!! Thank you for your comment.

      • nocte_volens

        Pay attention to how Jim answered that question. Usually he is smooth and articulate. This is the first time I have ever seen him flustered…he stumbled over his speech and his tone and body language indicates that he was giving a BS answer. I like Jim but his answer was extremely disappointing.

  2. JC

    Thanks Greg, this is the first time I’ve listened to Mr. Rickards, he explains himself clearly and concisely, and I particularly appreciated his emphasis about the importance of diversification.

    • paul ...

      JC … Richar