You Can See This Collapse Coming A Mile Away-James Rickards
Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Best-selling author and financial expert James Rickards contends a big financial crash is locked in. Rickards says, “Everyone is waiting for some blunder down the road, and the point I try to make is the blunders have already been made. The blunders have already been built into the system. You can see this collapse coming a mile away. . . . Using science, we can’t say very much about the timing, but we can say a lot about the magnitude. This will be the greatest financial collapse in history. I am quite sure about that, but I am not sure about the timing. . . . People think I can call them up at 3 o’clock in the afternoon and tell them tomorrow’s that day, sell your stocks and buy some gold. I can’t do that. I don’t know what day it will be. If we get to that point, it would be too late to act. So, the time to act is now.” Rickards goes on to say, “On top of the threats from Ebola, the Islamic State, the normal currency wars and the normal depression the world is in, there is financial war going on right now. We put sanctions on Russia. Do you think Russia is going to sit there and take it? Russia is responding asymmetrically through cyber warfare.”
Rickards says in the coming crash, it is going to be very difficult to turn your assets into spendable cash. Rickards explains, “People think everything is money. People think your stocks are money because you can sell them and get the cash in your account in a couple of days. People think your money market funds are money because you can call your broker and get the cash in your bank account tomorrow. You think your house is money because you can take a second mortgage or sell your house. What you find out in a panic is all those things are not money. You are locked in, locked down and the only thing that is money is money. That would be cash, if you happen to have it or gold or silver in physical form, not paper gold. So, people don’t understand what money really is until everyone wants their money back. That’s when you find out only a small number of things are actually money.”
On the Islamic State or caliphate, Rickards says, “There is nothing new about this. Islam has been establishing caliphates since the seventh century A.D. This is just the latest in a long string; it’s part of their plan for global domination. Their theology is you convert to Islam . . . or they behead you. They kill you. What they are doing is according to their scripts. None of it comes as a surprise. What is a surprise is how unprepared the United States was for the emergence of something like the Islamic State and the weakness of our response.” Can things like beheadings in America take down the markets? Rickards says, “That’s kind of street violence, and that by itself will terrorize people, but that won’t take down the markets. What would take down the markets is some type of bomb or radiological device and other kinds of asymmetric warfare on a large scale. That’s probably coming. The other thing is disruption to the flow of oil. The United States does not get its oil from the Middle East . . . but it’s a world market and a world price. . . . If the Islamic State spreads and disrupts the flow of oil . . . that would have an enormous impact upon markets. You’ve seen the price of oil drop like a stone lately because the world is in depression and there are deflationary fears, but that could turn around on a geopolitical vector.”
When asked if a crash was a mathematical certainty, Rickards said, “It is a mathematical certainty, but I can take it further . . . what you don’t hear is this will be exponentially larger than any financial panic in the past. . . . The next time, the Fed is going to be in trouble. They are already insolvent on a mark-to-market basis. Each bailout gets much bigger than the one before. The Fed has a 10 foot seawall, and they are going to get hit with a 50 foot tsunami.”
Join Greg Hunter as he goes One-on-One with best-selling author of “The Death of Money,” James Rickards.
(There is much, much more in the video interview.)
After the Interview:
Rickards has a website called JamesRickardsProject.com. You can keep up with his tweets, interviews and articles on his home page. If you would like a copy of his best-selling book “The Death of Money,” please click here.
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About the Author
Greg Hunter
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.
Consider this:
Imagine what will happen to the USA if there’s an “EBOLI” outbreak in Latin America and their citizens start running for our borders expecting treatment.
Why isn’t Eboli infecting countries such as China, India or South America?
I smell a rat.
Ebola- it’s here and it’s a false flag- see this – sent to me by my CIA friend. also- they aren’t telling us- but I have been informed- –“Ebola is airborne” and they know it.
They do want us dead – one way or another. They have the vaccine for the elite’s already- they won’t die, believe me!!
Ebola False Flag Predicted By CIA Insider
http://www.infowars.com/flashback-ebola-false-flag-predicted-by-cia-insider/
Here we Go! Look out southern border!!
Brazil: Fears are growing that the deadly Ebola virus has hit a new continent as a missionary in Brazil undergoes tests for the infection. If the Brazilian case is confirmed, it would mean the disease has spread to South America for the first time.
“If it breaks out, it’s literally, ‘Katie bar the door,’ and there will be mass migration into the United States,” Kelly said in remarks to the National Defense University on Tuesday.
Jim Willie says Ebola is patented- patent held by CDC in Atlanta, GA.
False Flag, for sure. This is all planned. But, if we don’t freak out, they will crash their own game.
True but the CDC version is a different variant of the one infecting African Nations.
Thanks Al, just confirms what I said two weeks ago… Ebola is airborne without a doubt…and they are hiding this fact pure and simple as they are with the numbers of infected people across the globe.
Depopulation is what CAF talked about… = WARNING.
I don’t doubt for one minute that a cure for the virus is available to the “chosen ones”. I said before this should be getting front page news coverage on all major media across the Globe because it presents the greatest threat to humanity since the black plague.
http://www.youtube.com/watch?v=4sYSyuuLk5g#t=112
When they come to vaccinate the masses beware of the sinister motives
https://www.youtube.com/watch?v=_gWmVtn5JsA
I have read that the U.S. holds patents (biological warfare?) on certain strains of the Ebola virus. I have also read that “blood electrification” can kill all viruses known to man. Whether this is true or not, I have no idea….however, the thesis seems plausible. Since we can all surmise that the pharmo-cartel would blaspheme any such “cure” due to it’s effect on their bottom line, not to mention hospitals, et all (this could be a “snowflake” if true), just adds to the plausibility of the process.
Why is ebola infecting the United States and Spain? Why is there no quarantine, such as in that movie Outbreak (1995)? The US attemped to contained communism from spreading around the world, why not ebola? How much is the US government spending in these infected African nations, with respect to the military? Is this another way for the US government to increase spending, print currency into existance? How will the ebola outbreak affect the global economy?
It could be that sending US troops to west africa to build hospital/quarantine area is the ultimate reality check for the plans of TPTB. Will these ideas really work if ebola becomes wide spread here? What better way to find out than to test them in Africa first, so if they fail, changes can be made before it becomes wide spread here.
I think it’s called enlightened self interest.
llewop; your right, it is a SMELLY RAT. So is ukraine, syria, ISIL, 911, chemtrails, militarized haarp weapons, Oklahoma bombing, Pearl harbour , JFK, and much more.
Greg, this info from J M, concerning inflation making a wealth transfer from china of 3 trillion is NEW TO ME, as is TRADE CURRENCY vs. RESERVE CURRENCY. Never heard this b 4. “Three minutes or 3 yrs, why wait, position yo self NOW.” OR prep now.
Sounds like the second coming of CHRIST, Prep now, pre trib, mid trib, post trib, any of the above. Some people ask me, what is my position? I say none of the above. I am ready in any case.
Good Info. tks.
5 THOUGHTS to Consider
Can you think for yourself or do you need the government on their nationally syndicated brainwashing networks to tell you what to think? It’s OK. You can go back to your regularly scheduled programming if you like. However, for the few that are awake here are a few things to consider…
(1) US Government owns US Patent on Ebola. See for yourself at the US Patent office… http://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=/netahtml/PTO/search-adv.html&r=1&f=G&l=50&d=PG01&S1=20120251502&OS=20120251502&RS=20120251502
(2) The news tells us that Ebola is only contagious through body contact. HOWEVER – the Government tells a different story on their CDC website… http://www.cdc.gov/training/quicklearns/biosafety/
Tab 8 Reads: “… BSL-3, the microbes there can be either indigenous or exotic, and they can cause serious or potentially lethal disease through respiratory transmission. Respiratory transmission is the inhalation route of exposure.”
Tab 10 Reads: “The microbes in a BSL-4 lab are dangerous and exotic, posing a high risk of aerosol-transmitted infections. Infections caused by these microbes are frequently fatal and without treatment or vaccines. Two examples of microbes worked with in a BSL-4 laboratory include Ebola and Marburg viruses.”
IIF BSL-3 is leathal how much more lethal is BSL-4 [Ebola] ?
(3) Just like our government “told the truth” about the Malaysian airliner getting shot down do you expect them to tell you the truth about Ebola being launched to cover the financial collapse?
Glenn Thomas, a leading consultant in Geneva and an expert in Ebola Virus, was on board the Boeing 777 Malaysia Airlines when it went “missing.” How convenient!
Glenn Thomas was the coordinator of the media and was involved in the investigations that were bringing to light the issue of trial operations of Ebola virus in the laboratory of biological weapons at the Hospital in Kenema.
Bill and Melinda Gates also have connections with this biological lab in Kenema.
Required reading for those who like to use logic…
http://socioecohistory.wordpress.com/2014/08/16/proof-ebola-expert-killed-on-mh17-kenema-bioweapons-lab-created-new-ebola-strain/
http://birdflu666.wordpress.com/2014/07/22/was-who-official-glenn-thomas-assassinated-to-intimidate-who-officials-ngos-and-scientists/
4) Need something to blame when the Financial Crash occurs.
With Ebola in the streets people will be confined to their homes. This will make Marshall Law much easier to swallow and people will not want to “fight” in the streets for fear of dying from Ebola.
5) Possibly TPTB will use Ebola as a cover for forcing the world into a digital monetary system.
After all, who would want to exchange gold/silver or paper money making you more prone to catching Ebola? And if we are to be quarantined how else will you be able to pay your bills?
Summary…
Whether Ebola is real, man made, or simply a False Flag – it does not matter. The one thing we do know is that our government will never let a good crisis go to waste. We can bet TPTB are planning on forcing all of us to get their bio-weaponized vaccinations and forcing financial change on all of us just like they have been planning to do for many years. Change is coming whether we like it our not. I just pray that you and your family are prepared. If you have not bought any food/water supplies then now is the time. If you do not trust in Jesus for your salvation then now is the time for that too.
Don’t worry… Our government always tells us the truth and is here to protect you.
Thank you Sam. The crisis is being handled in a way that is too stupid to be stupid.
Greg
Thank you Sam for taking the time to create and post this to the site.
Greg
What?
Where in that section of the standardized protocols for safety practices does it read the section is referring to EBOLA?
This seems to be a general guide to safety protocol procedures when working with contagions in general.
Biosafety Levels 1, 2, 3 & 4
“Biological safety levels are ranked from one to four and are selected based on the agents or organisms on which the research or work is being conducted. Each level up builds on the previous level, adding constraints and barriers”.
This is a quote from another publication but indicates general protocol, that’s all.
My new slogan. Why isn’t Ebola infecting countries such as China, India or South America?
I smell a rat. The head of the CDC is a start.
Rickards is kind of the anti-Jackass (Jim Willie).
Yeah, he’s CIA, but in this case I think he’s right. The Jackass is only right if the U.S. military disappears from the planet. Absent that, the game is going to go on in something approximating the form it has gone on in since the end of WW II.
It’s just not possible for the BRICS to build and jumpstart a new financial architecture on their own, and abandon everything in place. Not while the US has nukes, and army, aircraft carriers, and space weapons you haven’t even heard of.
Besides, Rickards hits the nail on the head with what he says about the impossibility of China taking up the role of the global reserve currency. Setting up the infrastructure for that is just prohibitive in any kind of reasonable time frame. Besides, they want to be able to keep playing trade games by controlling the value of the Yuan. You can’t do that with a reserve currency. Reserve currencies have to trade freely.
And this nonsense about gold backed Yuan is just that. Saying you back a currency with gold means you have to be willing to exchange your gold for notes whenever somebody wants to turn them in.
The Chinese don’t want to give up any gold. That’s their dollar hedge, like Rickards says.
So I think the Jackass is kind of dreaming a little, and speculating about the future with his prognostications. He says he doesn’t believe the Chinese and the BRICS will go for the IMF recalculation.
If they had a choice in the matter, I’d agree with him.
They don’t.
Maybe for the same reason S A R S did not affect Africa until infected people traveled there.
There were no incidents of measles in what is now the United States until the Europeans came.
Every peoples have their own conditions based on culture, basic food staples and genetic makeup.
There is no indication of conspiracy to kill off people of low net worth or education. These are the actual “livestock” needed for the “few” to be wealthy. If not for the 99% there would be no one to exploit.
I wish I knew what Rickards was up to. Of course, an economic collapse of unprecedented scale is a mathematical certainty. But he knows damn well ISIS is a creation of Western intelligence agencies, nothing but a band of non-religious, apolitical mercenaries paid to act out the latest remake of “Wag the Dog”. Why does he tell the truth about the global economy and lie out of his ass about ISIS? I don’t trust him.
Regan: you’re on to him also. I smell something wrong with Jame’s interview. Not sure if I’d say – I don’t trust him, but he wouldn’t get any of my stuff to watch. I lean your side on this on. Greg: you didn’t take him on about this crap.
al
Mr. Rickards wrote in his books that he does work for western defense and intelligence agencies, with respect to financial issues. But there may be some conflict of interest regarding his views on ISIS. Greg also mentioned Mr. Rickards’ ad campaign. If Mr. Rickards, a well known economist came out and said ISIS is a western creation, he would be spotlighted, attacked, and regarded as insane by the media. If he does know what you allege and does not state it, it could be out of defense of his credibility. It does not exist if one does not acknowledge it.
Mr. Rickards has one foot in each camp. There are certain lines that he will not cross whether his information be truthful or not.
Hello Regan, thank you for distinguishing who ISIS really are, which apparently a smart guy like Jim Rickards was not able to do. He sounds so sure of his history about Islam that he could pass himself as a professor at a distinguished university as Judith Miller of NY Times did as a terrorism expert right after 911. Rickards has read the standard history of religions and that propaganda sells his books. He should have the humility to say his understanding of history is limited to financial history.
regan S;
nothing but a band of non-religious, apolitical mercenaries paid to act out the latest remake of “Wag the Dog”. —-brought to u by your friendly neigh. CIA, NSA, DOE, CFR, MI6, VATICAN, S. A. , and a 3rd little country.
Or his assertions that the US still has all its gold….
Kirby called him a shill. I agree.
I agree that the ISIS is essentially supported by the US government. But I would not throw Rickards under the bus for his take on ISIS. It was an excellent interview. I believe he is right about what is coming. Sadly, the vast majority of Americans will never see it coming.
Thank you Greg for your steadfast efforts to get the truth out to those seeking it. USAWatchdog single-handedly makes the MSM totally irrelevant.
I think he has a lot of powerful and wealthy clients and so he has to give a more palatable response to questions about US gold holdings, ISIS, HAARP, chemtrails, or lizard aliens camped out beneath the antarctic ice sheet.
He’s not really lying about ISIS, he’s just leaving out some important details. Like how they learned to operate all that equipment they picked up when the Iraqi army turned tail and ran. I just don’t think you hop into one of those tanks and start driving it across the desert without a little training.
So he’s leaving out some of the salient details of HOW ISIS got where it is, but in broad strokes everything he’s saying is accurate.
Rickards is very smart, very fast talking individual who thinks about 5 steps ahead of most people. There’s no doubt he’s shading the story to reflect his own self interest, but while that interest may not be entirely congruent with listener’s, still I think on the financial side it’s very close. Consider that if he’s not careful about how he talks about some things, he might offend some very powerful interests, who undoubtedly watch every move he makes.
Every thing he says makes sense to me. It’s really standard stuff. You don’t know which way it’s going to go, so you hedge your bets against the probabilities.
I don’t think 10% in precious metals is high enough though, and that could actually be a constraint imposed on Rickards by the people who keep tabs on him.
As long as he’s saying 10% in precious metals, nobody gets real excited. That’s pretty much the standard recommendation for the last decade or so.
But if hyperinflation is the end game, as he says, then 10% is nothing close to enough.
I’ve read both of Rickards’ books. The one thing I found curious about this interview was when you asked him about whether or not the Chinese want the yuan to be the/a reserve currency. One of the reasons Rickards answered ‘no’ was that he mentioned the Chinese don’t have ‘rule of law’. Ha ha … and we do? Laughable. Completely laughable. However, I respect his opinion and knowledge otherwise. Thnx for another great interview, Greg.
We have British Commonlaw. Most civilized nations do. It is the result of what all the religious leaders of oldest England could agree on. The part about “do all you said you would do” is the basis used to enforce contracts. Chinease do not necessarily recognize this axiom, so be aware of it. I know several businesses that have brought work back to the
US after a couple bad experiences in China. Do not encroach on other peoples property is the part of BC that is the basis for tort and some criminal law. Personally I have have found you can get justice in this nation because of our system is based on British Commonlaw though it can be expensive. Nobody said it would be cheap. Shuts folks out sometimes unfortunately.
Spits coffee on keyboard.
Interview was less than normal for Greg. Dr. Jim Willie is twice or more the education than this one. sorry Greg. You know I’m a fan- and contributor to you.
al
Mr. Rickards believes China wants the SDR, the IMF currency, to replace the dollar. China does not want direct confrontation with the US. China is gaining influence in the IMF and World Bank. The Chinese government may want to use the SDR, then as their influence grows in the IMF, back the SDR with gold, silver, etc.
now that looks like connecting the dots. . . . .
snorkie;
One of the reasons Rickards answered ‘no’ was that he mentioned the Chinese don’t have ‘rule of law’. Ha ha … and we do? Laughable. Completely laughable. CORRECT !!
criminal rule of law, a club, and u and I are not in it!!
Brother Al, while you are enjoying that Ebola-free canned bacon, don’t forget their concept of justice: JUST US! Best always. PM
Snorky, These are the kinds of remarks he makes that make me suspicious. If he’s really the intelligence insider he claims to be, then he would surely know that the U.S. is run by an unelected shadow government that is not bound in its actions by the U.S. Constitution, nor any federal, state, or local laws. He would also know that ISIS is a purely manufactured threat, a rebranding of the worn-out al Qaeda bogeyman, needed by the U.S. corporate-state to justify its Orwellian perpetual war. Rickards is lying. Why?
Whenever I think of the stock market gyrations, I think of this video.
https://www.youtube.com/watch?v=XggxeuFDaDU
Believe me, it didn’t end well.
Hey Damage: want to hear true damage- the real cause and effect- try this. This will shock most, but not most of Greg’s followers. Pass on to others, he speaks from inside government
Dr. Steve Pieczenik on Bengazi and calls for Acts of Treason To Fix America
http://www.youtube.com/embed/HK46NnsAoeY?rel=0&autoplay=1
al h.
tremendous interview with alex jones and Dr Steve P.
wow!
unbelievable! this guy did not let alex jones get a word in edgewise the whole interview. I never thought I would live to see that.
but I do agree. accountability has got to become a very strong issue and we the people are the ones who are going to have to bring it.
I am a big fan of Jim Rickards. I follow everything most of his interviews.
The time to prepare is now. Better to be early in preparation than be late.
Hold physical precious metals. Hold PM stock. Hold cash.
However, I too have little confidence in the Rule of Law.
China my be the wild west of the Rule of Law, but the west is the OK Coral.
The Banksters make up their own rules and ignore the others.imho
Ha! But the casualties will be more than a single car and a dog. There’s gonna be MANY country songs about this one…
The biggest financial contributor to the IMF is the US. The EU and Japan are also major contributors. How do bankrupt countries bail themselves out?
Austerity is the “collateral” for IMF loans. But imposing austerity in the US, EU and japan would destroy their economies since they are dependent on deficit spending. In the US alone, approximately 65 million jobs reside in government, health care and education according to BLS. These sectors depend on QE. Intertwined, law, insurance and finance account for another 15 million. Manufacturing is only 8.9% of total jobs.
This is why the IMF only goes after the little guys. Bankers can still profit by forcing smaller countries to comply. Its not working out very well for them.
Who knows how many jobs are propped up by governments in the EU and Japan.
I don’t see how the IMF works in the west.
This was a very informative interview on many levels. From using science as a predictor for a crash to the 2010 Russian cyber warfare hack. As a poor man my plans for hedges against inflation/deflation are simple; cash, gold and silver, land and getting out of debt as soon as possible. Thank you for having this great interview!
James Rickards advocates 10 – 20 percent allocation for gold. He can see the crash a mile away. He seems almost sure SDR will be increasingly used, but will lead to hyperinflation.
In whatever passed for “normal times,” 10-20 percent made one conservative with one’s precious metals investments.
I have to wonder with his notion of SDRs as the last line of defense, whether his allocation percentage is inadequate?
David,
JR’s suggestion for 10 % Gold is only a starting point. He emphasised staying liquid so that one can avail of opportunities as they present…..and there will be an abundance of opportunities with volatility. Staying nimble with an eye on the key developments puts you in a stronger position. His message is about having a plan for survival.
There may come a time when gold demand overwhelms supply, thus difficult to purchase–unless the miners can really crank it up and the Chinese and Russians curtail their buying.
We’ll see.
Rickards only advocated 10% in gold not 20%. Way too little for what he says is going to happen. Instead he has money in an art fund.
DB
And anyone who can actually get their hands on these products—sugar, cooking oil, canned fruits, cleaning products, etc. often strolls across the land borders into Paraguay and Brazil where they are sold at competitive market prices.
Throngs of Venezuelans now line up around the block for days to buy single-ply toilet paper at a “fair” price. Argentina is not far behind.
Greg I learn so much from your site. I now understand why china’s money is not a world currency. They have trade currency, but not the structure for the ability to be a world currency. Eye opening interview. So the dollar is here to stay either inflated, or deflated.
I went to the youtube channel. Every other comment was down on Jim for having worked in the CIA. I really want to know would it take China 10 years to set up a system that would become a world currency. If so the dollar is and will be for 10 more years. Jerry ,Allen , or any. I am not interested in Jims past. Just the statements he made. Angel or devil they both speak some truth.
JC,
By the way Rickards makes no secret that he has been a consultant for the CIA and other government departments as well.
Greg
Greg. I don’t care, if he worked for the inter oligarchy. Truth is ALL I am looking for..
It is good that all you want is the truth. So do I. Well I found that Jim Rickards like others who I call “fear mongers” do not always speak the truth. All of them at times exaggerate how bad things are or will be and they actually misrepresent the truth.
JC,
Rickards made some very valid points.
Firstly the SDR was the option to be used to bail out the Central Banks. He stated categorically that the next crisis will be the CB’s themselves not having the capacity to save the financial system.
SDR’s are not intended for everyday currency use. Country specific currency (eg. USD ) would still be required by citizenry for settlement and use albeit at highly devalued levels……imlying very high inflation or even hyperinflation.
The USD doesn’t disappear ….there is even some talk of another variant to the FED issued FRN.
It really doesn’t matter if China’s wish was to create the next world’s reserve currency and that process taking 10 years. The BRICS nations agenda is about ceding control of international trade away from the USD stranglehold. Keep in mind the USD is the “default” world currency.
The “architecture” that Rickards mentions does take time to establish. The starting point is to wean the world off the USD dependency. Everything else required will flow from there in due course.
China sits in an enviable position with its multi trillion reserves and possibly the worlds largest hoard of physical Gold. So it is quite capable of dethroning the KING Dollar.
I think where Rickards is coming from …is that he believes that the SDR solution will be pushed by the IMF. “We don’t have 3 years” probably less than 2. In which case there is no alternative ready to “go live” to the USD… so the SDR is realistically the only true financial solution.
Afterthought….in Rickards first book (Currency Wars) he outlined several possible scenarios for what plays out in the years ahead. His SECOND most favoured option was the use of SDR’s. His most favoured option was CHAOS. He stressed that time was against TPTB and that the battle is already lost.
S I G Thanks for your input.
Sig. I want to respond When I have not had my home made wine. I Respect you more.
Toilet
paper or corn cob?
Sig. You said it.China sits in an enviable position with its multi trillion reserves and possibly the worlds largest hoard of physical Gold. So it is quite capable of dethroning the KING Dollar.
I think where Rickards is coming from …is that he believes that the SDR solution will be pushed by the IMF. “We don’t have 3 years” probably less than 2. In which case there is no alternative ready to “go live” to the USD… so the SDR is realistically the only true financial solution. Note the IMF and FED are in EBOLA country. America. Something will be the reason for the dollar failure. Right? They will never say we caused this because..ect.. Yet Jim knows it is not going to happen. It is Happening today front and center .
JC,
A very salient point needs to be made about the ceding of control of trade settlement away from the USD. This process will have the effect of significantly reducing demand for USD (offshore).
The implications of that subtle point are acutely known by the FED…et all in Banking / Government circles. It will drive a stake through the heart of the American Economy and create untold hardship.
The whole premise of strength in the Dollar falls back on the DEMAND equation (global scale). Without the required (growing) demand the Dollar is baseless/worthless and will be cast aside by all that have been glorified by its use.
This is no fault of China / Russia or any other party to the BRICS new world paradigm and yet they are/will be held accountable. The truth is the FED and the City of London handlers and their respective agents are the masterminds behind the fete and destruction of the USA. The cover-up and the propaganda from the US Government and the Banking Fraternity go hand in hand and are desperate acts which can only be described as despicable, reprehensible and EVIL.
Good points SIG. But if the dollar decrease’s and nothing can take its place would the world be in a state of flat line. Surely the rest of the world would not be content.
When will even your expert guests realize, and or say – “Obama is a Muslim” For those who don’t- just google something like = look at Obama’s ring. A pastor friend sent this to me- he knows he isn’t a Christian, and the ring says. Why are things happening the way they are in the middle east- he sides with the Muslim’s- he is one!
Approx. 2:35 into interview he says we didn’t supply weapons to the rebels- BS James!!!
That’s why Amb. Stevens was killed- he wanted to stop the weapons going there. They took the Ambassador out. Greg, I’ve sent you this 5-X already from others sources than my CIA friend. ” No spin Greg!”
He sounds very cozy with the Goldman gang and Wall street. Is he part of the the “banksters”G. Celente talks about. Sounded “New World Order like” as he talked?
al
Should probably fact check a little better before throwing out unfounded accusations. We don’t need this site to turn into HuffPo.
http://www.snopes.com/politics/obama/weddingring.asp
Thanks for an excellent interview Greg. The Death of Money is one of my favorite books. It’s very intense, fun to read and has lots of fascinating stories to draw you in. It’s one of those book that you just can’t put it down and bring it along to read at lunch time. I have read many other books from other authors such as The Real Crash, The Great Deformation, and The Great Depression Ahead, but they’re typical economic book that put you to sleep. James Richard’s explanation is logical and realistic based on a solid knowledge and research. This interview helps me understand the book in greater details.
Thank you Greg for having Jim Rickards on. His comment about planning for inflation or deflation by having both hard assets and cash is helpful. With respect to China’s accumulation of gold I find it interesting that while Jim pointed out that the Yuan is far from becoming a world reserve currency for the reasons he mentioned, he failed to mention as Dr. Jim Willie has pointed out, what the effects of repricing gold in a real market (Shanghai Gold exchange) will have on the derivatives and hence the dollar as he outlines in a recent interview he gave on another site. I wonder If Mr. Rickards is aware of the implications of what a reset of the gold and silver price will have on the derivatives complex worldwide which is when the Comex will be forced to reprice accordingly and be shown to be without the metal for delivery to back its price. While a “snow-flake” moment may be in Mr. Rickards view a more accurate way of describing the occurrence of the oncoming phenomenon in comparison to that of “black- swan”, I wonder if whether by ignorance, byass, or neglect he fails to mention the implications of the gold/ silver repricing strategy as Dr. Willie has done, saying instead that China wants to be a part of the SDR system which will bail out the Fed. I believe Dr. Willie’s position has been that China will not sign on to an SDR and that the US will be forced to issue a new “scheiss” dollar for domestic use that will be devalued 30% and then another 30% percent similar to Venezuala which will then make it evident that we have in fact entered third world status with runaway inflation, shortages of food, gas and cash at atms and violence at all three. Compelling interview and food for thought. As always “Fear not”, and also “be wise as serpents, gentle as doves” . The grace and peace of our Lord Jesus Christ be richly with your spirit Greg, greater is He that is in you, then he that is in the world.
Thank you Mark.
Greg
Greg,
This was a great interview. Tomorrow there is going to be a test on the “Too Big to Fail Banks” and how they would respond to a bank failure. Mr. Rickards would have been a great candidate to ask his view about such issues. Maybe next time or your next guest. I would like to know what items are/were tested. How probable the test outcomes are? You are doing great and keep it up.
It baffles me why anyone is still talking about a US economic collapse as the coming big event. Actually a pending economic collapse is what needs to be covered up and will be just one of the outcomes after the real “big event” happens. And that is occurring right now.
I firmly believe an orchestrated pandemic is now the weapon of choice based on a mountain of supporting data and evidence I have reviewed and collected over the past several months. I hope I am wrong but feel confident I am not.
I expect ebola (and possibly other microbial killers) to spread to other states in the near future and martial law to be imposed nationwide along with mandatory vaccinations. Gun confiscation and a termination of all civil rights and liberties will also take place.
This will not be a bump in the road moment – it is the end game and how bad it actually gets, only time will tell.
Greg,
Very high calibre interview here.
I found most of what Rickards puts forward here to be compelling.
I do respect JR for his smarts and regard him as an mathematical genius.
No wonder he was called upon to critique and apply the complexity theory, causal inference and Bayesian technique to the expected economic collapse. When he says the Government has a plan and that it (collapse) is a foregone conclusion (inevitable) you better take note. One can understand why JR looks at things through a scientific lense …because his application of theory and thinking is based around quantifiable outcomes. Most of his logic debunks mainstream thinking especially with regard the mechanics of markets, wealth management and portfolio allocation.
I do believe that the Military do not “leave” valuable assets lying around…..especially so…. knowing the capacity for them to get into the wrong hands.
I also believe that China is acquiring Gold and other trophy assets for reasons other than “diversification” at breakneck speed.
JR highlights the patterns of catastrophies esp. the one that is about to engulf the world. What wasn’t highlighted though was the common factor in each one of those episodes….BANKS.
1998 – Banks bailing out LTCM (HF).
2008 – Fed bailing out Banks.
2016 – IMF bailing out the FED.
It is amusing and alarming at the same time that the one solution (IMF) is the only one put forward by JR. That implies that the US still retains control over the world’s monetary system (via its control over the IMF). Enter the BRICS nations and their alternatives to the World Bank/IMF duopoly.
JR is correct about the architecture required behind a currency to enable it to become a reserve currency. It is important to keep in mind that the RMB has become a reserve currency by choice ….of major global central banks. They have chosen to hold currency denominated in RMB as part of their reserves. To get to what the USD is, will take considerable time to achieve nonetheless through normal market momentum and trade. However we have a collapse well before that eventualises. That event cannot occur by default either. It must be seamless with all participants in agreement. Who has the most power (GOLD) when they come to the table ?
Lick your weapons NOW while there’s time! They wont touch them that way what with Ebola germs all over them.
BUZZZZ
SIG I agree with your line of thinking more the J. R. In the 90,s China built a infrastructure to facilitate the possibility of being a world currency . I think there is a lot more going on with Chin then just wanting to be involved in the SDR. / IMF.
I find it strange that sites like this don’t captivate the entire world. Like Greg has said the world is in a place never seen before. History is unfolding on issues never faced before.
Very interesting how he casually dropped the scenario of the “Russians” crashing the world banking system all of a sudden into the conversation. Wer are being prepped for that false flag scenario, and he may be one of the insiders behind the move.
Markus,
I don’t think so but that was a new piece of info.
Greg
So at some point in the future we enter another financial collapse and the IMF come along and print Trillions of SDRs backed by nothing. It’s just more paper..sorry I don’t get it.
I’d love to hear analysts like Rob Kirby and John Williams take on this.
As always, appreciate the interviews Greg.
Richards is very knowledgable and intelligent….no two ways about it. But there is something slightly off about him. Can’t quite put my finger on it. With ppl like Kirby, Schiff, DR Roberts, Pento (to name a few) you can feel the conviction and transparency…..heck, even Jim Willie with his wild yet enthral king insights comes across more honestly…..not to imply that Richards is dishonest…..I don’t know how to put it actually…..i think I’ve been somewhat suss about him since he declared the US has all its gold….dispute no audit and unble to repatriate Germany’s gold. Come on now.
Still, I respect his message……
A number of things in this video that Jim Rickards says is inaccurate.
The Fort Hood and Oklahoma murders were committed by a disgruntled employee. This is why it is still considered workplace violence Mr. Rickards no matter why the employee was disgruntled.
New York Stock Exchange closed between July 30 and December 12 of 1914 due to the war in Europe, where nearly all stock exchanges were already closed. It was not something that took most people by surprise as Rickards implies. Although the NYSE was closed for those five months, stocks were quoted by brokers and traded off the exchange.
I would not exactly call stocks of the auto makers a hard asset as Rickards says. It is still a paper asset held by a brokerage. In a financial collapse the economy would also collapse taking the so-called hard asset stocks down with them.
We were not just a few hours from shutting EVERY FINANCIAL MARKET in the world because of LTCM as Rickards states. Would Iran’s and North Korea financial market shutdown because of a hedge fund in the U.S.? The answer is clearly no. The reason why the Federal Reserve Bank organized a bailout of $3.625 billion was to avoid a wider collapse in the U.S. financial market that they feared MAY happen. There are many world financial markets which would not have been greatly affected, certainly not any where to the point of a complete shutdown of their markets as Rickards states.
Hyper-inflation has no chance of happening overnight. The dollar is not going to basically go to zero overnight especially while it is still the world’s reserve currency. There is no past example of hyper-inflation happening overnight. It took months and sometimes years to for a country to go from 5% inflation to hyper-inflation.
J miller,
You lost me at “The Fort Hood and Oklahoma murders were committed by a disgruntled employee.” Both Islamic terrorists were heard screaming “Allahu Akbar”. Maj. Nidal Malik Hasan, who murdered 13 people in cold blood, wanted to join the Islamic State or Ihttp://www.ibtimes.com/fort-hood-shooter-nidal-malik-hasan-wants-join-isis-become-citizen-1674538SIS Your commnet is bot wrong and embarrassing to anyone with an IQ above 70.
Greg
Sorry you got lost Greg. Let me help you out. It is not wrong to call those two events workplace violence since that is what it was by definition. Just Google “workplace violence” and you will find that what happen in these two events fits the definition perfectly. And that is a fact. Please note that I did not say that it was not also a terrorist act. Understand?
JMiller,
I am not lost. I provided links to back up my point. I don’t need to “Google” anything. I understand, do you?
Greg
JMiller,
You are correct about everything you have said here. However you should have made it clear at first that these were also terrorist acts as well as, by definition, incidents of workplace violence. Everything else you said is completely accurate. Too bad Greg did not address the other things that you correctly stated.
“The World Is Passing Away”
John furnishes us with a fundamental reason to be “no part of the world” when he adds: “Furthermore, the world is passing away and so is its desire, but he that does the will of God remains forever.” (1 John 2:17) “The world,” unrighteous human society, is nearing its end in the fast-approaching “great tribulation.” (Matthew 24:21)
During that period of time every vestige of this world’s political, commercial and false religious elements will be destroyed. So how could any one devote all their time, energy and resources to these elements that shortly will come to nothing? Rather, loyal Christians will direct their main efforts toward the furthering of God’s Kingdom interests and the things that are lasting, eternal. Moreover, through such loyalty and faith his people will ‘conquer the world’ of unrighteous human society, even as Jesus Christ did. (John 16:33) Yes, and they will survive when this world passes away by divine destruction, just as Noah and his family survived the Flood.—2 Peter 2:5.
Since this world is passing away, then, how should Christians view involvement in its social affairs? What attitude should they have toward education, business dealings and recreation?
Thad,
Excellent comment and questions.
“Since this world is passing away, then, how should Christians view involvement in its social affairs? What attitude should they have toward education, business dealings and recreation?”
Involvement is tricky. We are to be salt of the world AND the light of the world. Salt preserves what it is applied to. Light shines in darkness. Both require us to be in the world but not of it. A tricky business to be sure. As consumers and tax payers we take on possible complicity by supporting evil empire. The end of the book says “Come out of her my people lest ye share in her judgments. It also says that we will be denied the right to participate in civil society, being branded as outlaws who have no right to buy or sell. So…applying Paul’s advice to Thessolinca may be the best and most balanced approach: “Make it your ambition to lead a quiet life, to work hard with your hands, win the respect of outsiders, but don’t be dependent on anyone”
As for education, business dealings and recreation – Lets take them one at a time:
1) Education – if we let the state educate our children, they will do everything they can to make them global citizens. The state wants consumers, free stuff army voters, cannon fodder, organ donors, and sex toys. We need to be clear about this, the new world order is not about you, its about your kids. As in, they want them for their purposes…the thief comes only to steal, kill, and destroy. Our approach to education and business should be multipronged. Paul the Apostle had a trade (tentmaker) a profession (Pharisee) and a calling (Apostle). Solomon said it this way: “in the morning sow your seeds (be a farmer) and in the evening don’t let your hands be idle (be a tradesman), because you don’t which will prosper or if both will do equally well.” What skills do we have that will serve us in a collapsed economy? Can you go seed to seed? Can you preserve food using dehydration, fermentation, smoking meat, etc? Can you make shoes from tires? Etc. We should each try to develop some trade skills. While the economy remains, we should use our current professions to generate income to by productive land, value add machinery, and to gain practical skills. When the day comes when we can no longer participate in buying and selling, we will be better off.
Recreation – this is a tough one. God made the garden and walked around in it leisurely with Adam. he wanted him to enjoy it. He also created the Sabbath for man, not the other way around. He wanted us to rest. If we can continue finding beauty in this darkening world, we should. But to the extent that our recreation makes us complicit in sins of this world (sexual exploitation of porn, physical exploitation of concussion prone and pain med addicted NFL players, etc) we should abstain as we attempt to love our neighbors as ourselves. To the extent that our recreation is luxurious, we would do well to consider that those are Christians huddled in the cold surrounded by Islamic radicals on the mountatins of Iraq and they are praying for a rescue. Would it not be more Christlike to give towards their rescue than to squander remaining capital on luxury recreation? I say this to myself as I answer your questions aloud as I still eats out regularly…
you asked timely questions, I hope the reply was helpful.
Durablefaith
JR says: China building huge Gold Reserves as a hedge against Paper Reserves being inflated away. Makes perfect sense. But… what if the US continues to control and rig the paper gold market. Cannot US inflate away the Debt but also continue to slam the price of gold? Seems to me there is much more going on behind the scenes that we can only speculate. But… seems like the pieces are coming into place and big changes are just around the corner. Possible trade off with China? US hyper inflates to kill the USD and US gives China physical gold market were Gold price spikes to the moon???
Another good interview Greg. I like the diversity of opinions and characters that you have on your netcasts. I have to agree with some of the previous posters about Rickards though. He obviously talks a great deal of common sense when it comes to financial matters. However, his obvious affiliations with and promotions of the current mainstream political paradigm make me feel that he is not to be trusted and is working to an agenda. I have been to China and whether you agree with their political system or not, it is obvious from the day you set foot in the place that there is rule of law. An anecdotal example is that all taxis in the main cities operate meters and provide passengers with computer generated receipts. If you don’t mind the pollution, it’s also quite safe to walk the streets. Many of the largest Western companies operate in China successfully – that doesn’t sound like a lawless country to me.
What a bunch of lies. Islam. ISIS. Islamic State. He might as well say the “boogeyman.” I agree with Regan above – “But he knows damn well ISIS is a creation of Western intelligence agencies, nothing but a band of non-religious, apolitical mercenaries…”
Later, Rickards says Russia embedded an attack virus in the NASDAQ stock exchange.
It’s too bad they NEVER say who the REAL enemy is. This man is a misinformation agent.
Greg – did you hear that Harvy Organ’s blog got removed from the internet due to a court order ?
Might be good to bring him back on to get some particulars.
More snow piling up, as South Korea moves away from the dollar buying Yuan Bonds.
Yes our good friends from the East have the seen the writing on the wall and have jumped on board the Yuan caravan. The pace is picking up.
http://news.xinhuanet.com/english/china/2014-10/13/c_133712136.htm
Hi Jerry,
I have a somewhat ineterseting story for you. About two weeks ago, I was eating at Picadilly Cafeteria. They had a good percentage os their waitresses speaking what sounded like Russian.
I asked her if she was Russian she sais no she was from Moldova, we have a good size Eastern European immigrant community here..
I then asked her opinion on Putin and Russia-what she said suprised me:
1) She said that Putin was the best person for the job; that he saved a nation that was tattered and like the wild west.
2) People in her area WANT TO LIVE IN MOSCOW. She said people are going there to make money and doing very well, better than the average American. She that Moscow is thriving.
3) The Ukraine army is impressing young men to service, telling them to kill or be killed.
4) her family memembers are trying to get to Russia.
I also noticed aposting you put up of a Ukrainian military office. And interestingly enough it had lists of dead Ukrainian soldiers, Jerry it looked like thousands and thousands were on that list!! Media must have missed that too!
Just wanted to let you know.
Thanks WD.
Its all happening right in front of us.
Greg ,whenever you see Jim Rickards he always says the same thing . He cannot comprehend the end of the American dollar as the reserve currency , what about the BRICS central bank as the worlds new reserve bank . What about the Chinese Shangai Gold Index to find the true value of gold and silver not the artificial price that is used to prop up the US dollar .What about the collapse of the American dollar? . What is the point of having a heap of US dollars if they are worth 60 % less ?. What about the end of the petro dollar? . The IMF is bankrupt ,Cristine Legarde lies every time she opens her mouth ,just today I saw he on the news claiming Europe will be in growth mode next year ,what a joke . What about massive social unrest it ? I think ts is a situation of someone who has written a book and now things have changed so rapidly and differently that he can only keep plugging the ideas in the book .I just dont buy what this guy says its just the same parrot stuff . I was actually very suprised how much this guy doesnt know . Finally how totally stupid to state that the US military didnt supply Isis ,the middle east was fine until the US intervened . This guy sounds just like a banker should
Rezo,
He said a lot of new things here. Like having the money concentrated in 5 or 6 big banks. I always hear something new along with the old.
Greg
Liberia health workers to go on strike
US Hospitals Face Risks in Ebola Virus Waste Disposal
Medical Staff in Spain Are Refusing to Work With Ebola Patients
Businesses wrestle with insurance in Ebola’s wake
Ebola threatens chocolate
Many believe Ebola is not a big problem.
It’s a major problem.
The US will have thousands of cases very soon as people flee from their countries to take refuge in the US.
This will overwhelm our health care system.
The US is not prepared for such a virus.
This reminds me of those that were so confident that the Titanic was unsinkable.
Even if we only wind up with a few thousand cases across the country it is fear that will bring down the economy.
The USA is a country where vanity is a multi billion dollar business.
People here spend billions on health products and billions more in fear of old age.
No one seems to want to grow old.
Now throw a life threatening virus into that mix.
How many people will stay home rather than go to work?
How many will be picked up wrongly suspected of having this virus?
Their homes ransacked and rights violated.
A stampede can not be calculated.
When a run on the market takes place it happens without warning.
Fear is what drives a stampede or run on a market and fear can stop a nation in it’s tracks.
If Ebola is not taken serious very soon by our government then it will be Ebola that brings down the economy.
The borders will remain wide open even though we face a serious problem with this virus.
If the two parties play the blame game over this I think it will be their undoing.
In the end fear can turn into anger and both parties are fair game.
Dear Greg,
When this man talks, I’m always asking ” through witch mouth is this man talking” ???
Regards
Peter
Ah yes, 1/3 of the holy trinity of “Jims” – Wille, Sinclair and of course Rickards. All three men are off the charts bright, but my guess is that Rickards is probably the brightest; I’ve grappled with complexity theory and it certainly is not for the faint of heart! Apparently Willie and Rickards are diametrically opposed to each other vis-à-vis the yuan as reserve currency debate. I would love to hear the 2 of them battle it out as the ramifications of either path (i.e. yuan as reserve of SDR as reserve) are enormous. Another commenter intimated that (s)he doesn’t trust Rickards, and I’m afraid I have those same misgivings and the reason is because of the people that he counsels: sovereigns , TBTF banks, the CIA – makes me wonder where his loyalties lie. That said great interview, please allow a small ping for Sinclair, it’s been quite a while since he’s been on.
Thanks,
Matt
Many people seem to think that James Rickards is CIA. If that is so, he represents what is called a limited hangout: some truth with some disinformation.
My guess is that he is intentionally addressing the people that know the current economic system is coming to an end—-but he is also trying to get these same folks on board with all of the ISIS nonsense reported on the evening news.
Or onboard to take part in the financial collapse, through the trade of various american based ETF’s that have come under attack by US stock market Bulls. its kind of insidious if you ask me.
“The enemy of my enemy is my friend”, a philosophy, that if held as a guiding principal, will most assuredly sustain perpetual conflict. Raw hated fueled lust for vengeance is one thing, the utterly brutal acts of violence inspired by such lust is another……..but when third parties set themselves up on the sidelines for the purpose of reinvigorating the exhausted and defeated in order to realize financial gains from renewed and enlivened bloodshed it is not only sick and godless but suicidal as well.
We need to take stock of what kind of low natured scum is driving our society and decide if this is something we really want to tolerate any further.
Rickards is right that “The People” do NOT know what real money is.
China’s new Gold exchange does not ALLOW Naked Short Selling………soon, China will be be repricing Gold & Silver on their markets and thus will end the western banking systems fuadulent grip & manipulation, of course they’ll be a war, dont’t think they’ll go out quietly. JFK tried to end their Ponzi scheme.
Greg,
Sometime back if memory serves me accurately, I remember seeing an interview of Mr. Rickards by Max Keiser in which Max could not get him to acknowledge the insider trading which took place before 911 with regards to the airline companies involved being at least an indication of the possibility of prior knowledge.
Rickards has been exposed a few times like this…..says gold still exists in US vaults dispite no audits allowed or being unable to repatriate Germany’s gold……can a man of his impressive intelligence not see the obvious signs.
And the 911 thing as you say.
I really, really admire his message, but it’s hard not to overlook these types of gaffs or beliefs…..it really questions his full integrity
Rickards is hyper-intelligent and has many good points, however, it is painfully obvious he works for the status quo and all his efforts are to maintain it. He talks about the IMF having a clean balance sheet. HA. Their so-called drawing rights are just an accumulation of all the fake fiat currencies in the world, and he thinks this would be a great thing to go to when the collapse comes! He does talk up gold though, but to what end? He completely discounts China and what they may have planned, when they are the future of gold holders everywhere. They are our only hope to wrestle away the golden hostage from its oppressors in the west. He thinks we can’t live without hedges, futures, derivatives and all the other corrupted and poisoned features of the current system.
But I understand. What else is a western financial hack left to do but support it to the bitter end.
But I
Greg it should be apparent to anyone paying attention, that the United States is setting itself up for self destruction. Only a few hours ago the Chinese were signing an agreement with the Russians that they would help them weather any sanctions the United States can throw at them.
http://news.yahoo.com/russia-signs-deals-china-help-weather-sanctions-131348152–sector.html
Since when is a debtor nation in a position to put sanctions on anybody? What a joke. And if you think the United Nations will follow suite with the US in carrying out these sanctions is fooling themselves.
From my source, we are ahead of schedule in setting the table for the economic collapse. Countries around the world are lining up to use the RMB for international trade, and precious metals are beginning their upward climb. The banking cabal has fired all its bullets, and the only thing it has left is market fraud, and false flags, which Ebola is. Have you heard about the eighty some people that have recovered from Ebola after treatment? Of course you haven’t, it doesn’t fit their hysteria template.
Isis. Another false flag. A creation of Langley. Do you really think Isis would be within shouting distance of Turkey , if the CIA didn’t want it there. Turkey signed a deal with Russia and China to drop the dollar. They’re on the chopping block along with Assad in Syria. Is just another fine example of American hegemony, and the struggle to save the petrodollar. See it for what its is, The last dying breath of the dollar.
Jerry,
No doubt governmental forces are helping muslim Middle-eastern military forces. But to ignore or discount the religious motivation – seems to overlook centuries of pre-existing cultural identification. Some things set in motion do not always remain in control.
jerry
precisely!!!
Regarding the mistrust of Mr.Rickards… he told us where he comes from… he was a member of the A-Team that negotiated a fix of the Long Term Credit collapse in 1998, working with the highest officials. Compare Mr Rickards with Paul Craig Roberts, they both operated in a high level environment. You know PC has crossed over to the other side. Mr Rickards continues to generate suspicion when listening to his interviews.
Rickards seems to a promoter of the idea of the IMF becoming the alternative if the current system collapses. He doesn’t seem to acknowledge that many countries want out of the US controlled financial system The formation of the Bric trading platform is being created to escape the Western banking cabal of which the IMF is a member. He always gives IMF-SDR’s a plug in his interviews.
Gold will likely be a component of a new Bric system. Jim Willie calls them “gold backed trading notes”… like SDR’s but with gold backing instead of a dollar backing system run by the IMF. An alternative parking lot to US Treasuries. Countries could store their savings in these gold backed notes instead of dollars. The World Bank, IMF, FED… all are agents of the Western financial elite. And always consider that many of them used to work for Goldman Sachs. A telling factor.
Rickards is correct that currently, there is no other parking lot for the world’s trillions except for the liquid US Treasury market. Rickards seems to give a clear picture of what a collapse could look like… with funds frozen and markets shuttered and trading halted. His warning to prepare by owning some cash, gold and silver is prudent. Owning gold is a hedge against the dollar. He recommended only 10% gold holdings… which shows a lot of faith in the dollar. Each to his own.
Maybe Rickards is correct that the same financial elite now in control will assume the same control over any new global monetary system… one that is dollar centric. Only time will tell.
I’d love to see anyone take on Turkey.
Turkey is the turning point.
They are the last moral point.
Much to be considered.
Hi Greg ,just tried to log on to Harvey Organs blog only to find it has been shut down by a court order .Guess he was getting a little to close to the truth . Please investigate and report . I read his last blog and looked at the figures he was presenting in particular the gold inventory in USA . Just another reason I dont believe Rickards .He has a hidden agenda Im sure . Thanks Greg look forward to hearing what you can find out about poor Harvey
I feel like Matt Jaymes does about him.
you’re right. more attention should be paid to the whereabouts of Harvey Organ, and who but our small (yet intense) bunch of PM enthusiasts will ask?
I would argue that Jim Willie is the smartest of the bunch and PCR is the most
knowledgeable ( though an economist by training, his grasp on geopolitical issues
is simply incredible.)
In any event, I would welcome a debate between the three!
Greg;
The next time you interview Rickards or others that are so currency knowledgeable, can you try to confirm what Willie is saying about the introduction of the scheiss dollar? We hear so much conformation about everything from almost every guest (market collapse, dollar collapse, eventual bullion appreciation, etc) but no hint of the dollar change.
The so-called “scheiss” dollar is already implemented; it’s the dollar you use everyday in USA-based commerce and exchange. It is the dollar that will suffer the extreme devaluation forecast and anticipated by so many. It will be “different” from the official US Dollar used in foreign exchange. The official exchange Dollar will cause the current “cash” dollar to be useless outside the USA, so those dollars will come home to the only place where they have value. This repatriation will cause the “scheiss” dollar, which could be also named the “internal” or “domestic” dollar, to be relatively worthless in the world, but it will be the trade currency, so-called “legal tender”, for you and me. With so many of them in existence/circulation, it will take the proverbial wheel barrowload to buy anything or exchange value. Remember the so-called “structured” bankruptcy (transfer to the unions) of General Motors, the “good” GM and the “bad” GM? Well, in this instance, the world exchanges get the “good” dollar, and we get the “bad”. Best always. PM
Greg,
Question, I have heard that a US bond crash would take down the dollar. But it seems to me that if the US defaults on the bonds, the bonds would be worthless but dollars in hand would suddenly be more valuable. Wouldn’t a bond default eliminate lots of perceived liquidity and make remaining dollars worth a great deal more?
Mr. Nacey–worth more to whom? And for how long? The value of the bond markets dwarfs that of the stock markets. The economy, in which the dollar moves, would suddenly vaporize in the event of a market-wide bond default. Yes, the cash in your pocket might temporarily increase in value, but to what extent, when there is nothing available for buying/selling after the existing goods in the marketplace at the time of the default are consumed? Think about it. Best always. PM
Great interview, Greg!
I really appreciated the discussions about the Islamic State…I had hoped he would have explained why Washington is doing so little about this threat? If you recall, I have a rather cynical view of both the Islamic State role in front of us and also the Ebola scare….
But I am not sure he made his point about gold ownership and collapse. If collapse is 100% in the cards, then owning gold is 100% the solution. As you recall, he also stated that owning gold was the same hard asset class as buying railroads or high art objects. He also said gold was the appropriate substitution. So why only 10% investment recommendation on a 100% predictable outcome? This is a logic gap from my point of view. And yes, I hold cash too – and what he talks about holding two opposing concepts at the same time and acting on both is thinking in three dimensions….Perhaps you can ask him next time about why he recommends only 10% gold or silver for the citizen when the other hard assets are, in practical terms, out of reach?
Best,
G.
G,
10% was a starting point only.
Rickards realises that there are many obstacles to overcome and events still to occur which present different paths, opportunities and outcomes. His ultimate portfolio is 30% Gold. That is what he defines as the “After the Collapse” weighting. Of course we cannot wait for that moment to arrive…so he recommends monitoring and adjusting accordingly when key warnings are presented.
Does rickards really, I mean really, tell us anything that’s not already forefront. He just seems to me to make the forefront sensational appearing and even explosive. Is this suspicious behavior? You bet it is!
Contrast his presentations with john williams, paul roberts, steven cohen, chomsky or many others who present often new facts without the sensational bombast.
P.S is there really any reader here who doesn’t know what “real money is”?
See what I mean…
“Most of society don’t see this [crash] coming”.
Absolutely true. I attempted to warn family and friends fifteen years ago, to not over weight their investments in dot/com stocks. Without much success. So when the crash of 08 occurred I thought, ‘okay now they will pay attention.’ Not so.
The “herd mentality” is extremely difficult to counter. When ever I speak of economic matters now, I see their eyes glaze over and they develop that “thousand yard stare” that second war vets talk about. Then I know that its useless to carry on.
Thank you Greg for your ongoing effort to educate the masses. I know sometimes it feels as if you are ‘throwing your pearls before swine’ but even if the message gets through to just one extra person, then its worth it in the end.
Probe of silencers leads to web of Pentagon secrets
The Washington Post
The mysterious workings of a Pentagon office that oversees clandestine operations are unraveling in federal court, where a criminal investigation has exposed a secret weapons program entwined with allegations of a sweetheart contract, fake badges and trails of destroyed evidence.
http://www.msn.com/en-us/news/us/probe-of-silencers-leads-to-web-of-pentagon-secrets/ar-BB8X1J2
Rickards makes better sense, not complete sense, than say a Jim Willie. I’ll position myself accordingly. Thanks for this interview Mr. Hunter and keep up the good work…please.
This the same “collapse” that people have been screaming about for years now? There’s a lot of money to be made off of selling “collapse”, even when it never comes.
Go back to sleep Dave. Everything is just fine. Nothing will disrupt your world.
Greg
Greg
My source is telling his contacts to start moving into position, whether its exit strategy, or readying supplies. The early phases of the dollar collapse has officially started. After reading this headline, I’m not so sure he isn’t correct.
http://www.usatoday.com/story/money/business/2014/10/07/china-currency-push/16852193/
Jerry I think your finger is on the button. 2015, and 1/3 rd of 16 will change everything we on this site thinks.
2017 will level out. New currency? I think so. Harvey may be gone but he is not out.
The best I could find on China becoming a world currency.
I think this shift is taking place because China has a massive comparative advantage that most people never think of. If I asked, “What’s China’s comparative advantage?” 99 out of 100 people would say “cheap labor,” but that’s not true. Labor is not that cheap in China anymore. China’s comparative advantage is that China – alone amongst emerging-market nations – has a deep and credible financial center. It takes 50 years to build a financial center – to, you know, have auditors, lawyers, accountants, judges. And China is very lucky, because in 1997 the Brits – who are quite good at building financial centers – basically built one in Hong Kong and told China,
Read more: http://www.businessinsider.com/renminbi-soon-to-be-a-reserve-currency-2013-9#ixzz3G3fbmHsm
This guy may be brilliant in financial topics but concerning the history of the Islamic, world he is a donkey.He says “Their theology is you convert to Islam . . . or they behead you.”It’s unbelievable how racist,stupid and wrong this quote is.He doesn’t know that while his ancestors were dirty illiterates living in caverns,the Arabs were masters in astrology,medecine,poetry,mathematics,history and even sociology (Ibn Khaldun,Averoes,Avicennes,Abu Nawas…).He doesn’t know that Islam says that killing a single man without reason (unlike legitime defense) is equivalent to killing the whole mankind.He doesn’t know that the caliphates have nothing to do with ISIS.But he should know that ISIS is an american satanic creation.He should know that the states that give financial support to this monster are saudi arabia,qatar and koweit,the best friends of America since at least 1945.And she should also know that it is all about oil,gas and money.
Your representation of the religion of peace is just more Islam propaganda, frankly, its working so keep it up, but not all of us are buying!
Having read the Bible as well as the Quran, I can say that, although there are differences in their concepts of exactly what is truth, neither promotes or justifies the use of violence for the purpose of converting non-believers.
ISIS is to Islam what the Crusaders were to Christianity…political movements driven by men with an insatiable greed and lust for power who were able to convince,or bribe, other men to sacrifice themselves to that selfish cause.
The collapse happened in 2008. There hasn’t been an economic recovery to date but the perception of a financial recovery has been created by the Fed with printed money and perception is reality to the majority of people. Of course this illusion will end at some point as Rickards points out, but the Fed will keep on propping up government and Wall Street until commodity manipulation is no longer possible to hide monetary hyperinflation. That might not be tomorrow or even next year but it is coming. The Shanghai metals exchange will break the COMEX PM manipulation and the refusal of nations to buy US GMO food commodities will eventually free them from US derivative market price control and thus allow inflation to bring down the system.
ISIS is the same group of CIA/Mossad mercenaries that were used to overthrow the Gaddafi government in Libya and later moved to attempt the overthrow of the Syrian government. They were first called the Free Syrian Army and now having been merged with the CIA created al Qaeda in Iraq now go bu the name ISIS and are headquartered out of the US embassy in Ankara, Turkey. They are currently tasked with the overthrow of the Shia government in Iraq to enable the US to re-establish it’s military presence and remove the Chinese from the Iraqi oil fields. You can bet that Rickards knows exactly what ISIS is and who they work for.
Michael,
How do you know this? Do you have sources?
Greg
Greg.
There has been a huge effort to conceal our operations in Libya and Syria because they were planned and administrated by former Sec. of State Hillary Clinton and everything will be done to preserve her viability as the anointed Presidential candidate in 2016. Funny isn’t it that everyone has heard of the Benghazi affair but they have kept a really tight lid on the details that should have destroyed her aspirations before they ever began.
Edward Snowden was kind enough to provide the information about ISIS.
http://www.globalresearch.ca/isis-leader-abu-bakr-al-baghdadi-trained-by-israeli-mossad-nsa-documents-reveal/5391593
WOW. Edward Snowden would be impressed if you can prove this.
Greg, I think Jim Rickards is one of the smartest guests you can ever interview. Whether one thinks he’s right or wrong, he explains his reasoning, and his books have voluminous citations to back him up. I disagree with anyone who simply downplays his opinions because he is an “insider” or “working with the CIA”. The guy is telling you what virtually all other guests are saying: a huge crash is coming. But he can back it up with facts. In addition, his experience/contacts further support his knowledge, more so than most guests in any type of today’s media. Whether we want to be 10% or all in in PM is something we can argue over. But even he is telling you “look for hard assets”. When he talks, we should be listening.
Now, all that being said, what I cannot understand is why he believes derivative trading should be banned, http://www.usnews.com/opinion/blogs/economic-intelligence/2012/07/16/derivatives-should-be-banned-from-financial-markets , yet his bio at Omnisinc indicates that “he was a first hand participant in the formation and growth of …complex derivative trading strategies.” http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2012/1/28_Jim_Rickards.html I cannot harmonize those.
Last, the fact that his bio states that he is a member of the Advisory Board of Shariah Capital, Inc., a firm specializing in Islamic finance, might explain why he shies away from answering questions about ISIS. http://www.omnisinc.com/directors.php#Rickards Also, if ISIS is a formation from the CIA, and if he knows it, wouldn’t he be bound by some non-disclosure laws?? Just my $.02 on the subject.
Take care Greg, and keep up the great work as always. Ingenium superat vires.
Doug,
Rickards is a smart guy and I’ll have him back if he says yes.
Greg
Greg, there seems to be quite a bit of mistrust of Mr. Rickards and his motives on this site. I understand that the CIA part of his background is a touchstone. And I’m not a fan of the IMF or the SDR. But that is quite a different story from his advice to us, the USA-Watchdoggers of the world. And his advice is sound. Few of us participants doubt a financial upheaval to be in the works. Mr. Rickards’ advice is straightforward: plan and make your play for both an inflationary (hard assests) and deflationary (cash) outcome. This approach is not hard to understand, but let me give an illustration. I once went to a racetrack. I made a perfecta bet (predicting the 1-2 finishers) on 3-4. The race was close and produced a photofinish. The official finish was 4-3. It would have only cost me a few more dollars to place a 4-3 bet along with my 3-4 bet. The payout on the winning perfecta bet would have more than offset my investment in the two (3-4 and 4-3) perfecta tickets. Had Mr. Rickards been there with me, he would have rightly advocated the two perfecta tickets. We don’t know now whether it’s deflation or inflation we’ll be fighting for survival. We can prepare for both with relatively little risk and inconvenience. Then, like Brother Al and the canned bacon, we’re covered. This is sound advice, and I fail to see how it has become controversial among us here at USA-Watchdog, solely because an expert hired at one time by the government offers it. Best always. PM
Paul,
All good points. That said,Rickards provides a perspective that most cannot deliver and he is a best-selling author. I will book him again.
Greg
The idea that Saudi Arabia has suddenly found new oil and has the ability to increase supply enough to affect world supply and prices is ludicrous. Oil prices are being manipulated lower thru the futures market (read GS,JPM) just as gold/silver are. You are all being feed another lie (thank you Richards) to justify the lower prices. In 2008-9 when oil prices dropped to $30/barrel (from $130) was supply/demand THAT distorted ? This is all a pathetic battle to support the dollar and hurt “our” enemies (Russia), control pipeline routes (Syria) and what I’d call a good ‘ol “gas war” to eliminate competition…… If Richards knew anything (or honest) he’d admit Saudi Arabia has long ago been on the decline and is a has been…… Only having the MSM feeding lies can anything as absurd as this be promoted as real.
Jeff.
You are absolutely right. The Saudis no longer have the capacity to pump enough to lower the price of oil. If they tried that they would be pumping 90% water out of their Ghawar field that provides 50% of their total production. Their three other producing fields aren’t in any better shape. This recent oil price decline was engineered by Goldman Saks. Greg might have asked Rickards about that as he would surely be one to know.
http://alcalde.texasexes.org/2012/10/an-end-to-saudi-oil/
jeff
u have a strong argument, but then i am clueless on fin. annalysis sp tks
Jeff,
If the intention of lower prices in Oil is to hurt Russia, then what will lower prices do to the fractional boys in the US ?
Seems like the unintended consequence is to smash the Oil Industry in the US… whilst plotting against Russian Oil Companies.
As I understand it there is another world power taking delivery of Oil from SA…and they wouldn’t be too upset with what is happening with oil prices. They are probably taking advantage of the situation with Russia too. For Russia its probably a win – win. Settle in Rubbles and Sell excess Oil over the medium term.
Fractional = Fracking …sorry about that 😉
Greg says….. “Rickards is a smart guy”. Clinton was “smart” and manipulative. Hitler was “smart” and evil/destructive. Bernanke was “smart” and destroyed the middle class. Pelosi was “smart” enough to get elected. As was all our other “smart” leaders who can’t balance a budget. Not good enough Greg. Rickards tells me nothing we didn’t know and wrong (or clueless) on all the important subjects including China, SDR, ISIS. Just because Rickards ( read US) needs the IMF and SDR’s in the end doesn’t mean the countries with the upper hand ( read holders of GOLD) making the critical decisions will in any way, shape, or form chose to allow the IMF a voice. We WILL NOT be making the rules when the tables turn…….. He who holds the Gold makes the rules…..That, in itself should tell all your readers 10% is a joke.
Jeff,
Lots of smart people here. Look at the discussion and comments the Rickards post received. “Not good enough”? Variety of opinion is what I offer and this opinion came from a best selling author. There is information in what people say and don’t say. Thank you for your comment and passion.
Greg
Hooray for a variety of opinion. That’s what makes this one of my favorite sites. Listening to an echo chamber of your own bias is what makes you a blue or red bot. Keep doing what you are doing. Thanks!
jeff
from mikel pento
There’s absolutely no sign of growth in the Euro region. France is stagnant, Italy is back in recession, and even the German economy, once the pillar of the Eurozone, shrank in the second quarter. German industrial output fell by 4 percent in August, with the worse-than-expected drop coming a day after the country’s industrial orders had their largest monthly decline since the global financial crisis in 2009.
The United Kingdom isn’t fairing any better, as manufacturing output for August grew just 0.1 per cent, down from 0.3 per cent in July.
And then of course we have Japan, whose industrial production shrank 1.5 percent month-on-month in August, and spending among Japanese households fell a steeper-than-expected 4.7 percent.
Life in the emerging markets isn’t faring much better. Adding to the world-wide misery is Russia. Russia is suffering from its involvement in the Ukraine, resulting with both U.S. and European Union imposed sanctions. Investors are now frantically pulling money out of the country. Demand for dollars and euros is growing among Russian companies locked out of western debt markets as they contend with $54.7 billion of debt repayments in the next three months; leaving the rubble under severe pressure. All this is exacerbated by the plunge in oil prices to their lowest level in more than two years–threatening to tilt the $2 trillion Russian economy further towards recession.
Moving to the other side of the globe, we have Latin American economies that are also in, or teetering on the verge of recession. Brazil’s economy, post-World Cup, is on life support, its one hope being that President Rousseff, the Marxist and former guerilla, doesn’t win the election. A win for her seems likely, even though Brazil’s economy is officially in recession. The second quarter’s GDP took a huge downturn, contracting 0.6 percent from the first quarter.
Chile’s manufacturing output fell 4.9 percent in August, as policymakers cut their growth forecast for the 4th consecutive quarter. And, it may finally be time to cry for Argentina, as tougher controls on trade and the currency market are exacerbating economic imbalances that were already dizzied from the nation’s July default. Economists now predict the first full-year recession in Latin America’s No. 3 economy in over a decade.
And then of course we have China, the former darling of global growth. Its industrial production growth slowed sharply in August to its lowest level for more than five years. In addition to this, house prices have fallen for five consecutive months. This could be a result of China’s large debt-to-GDP ratio, which stands at 217 percent. The Chinese government continues to add to their debt load by fruitlessly attempting to stimulate the economy through endless construction projects. But all they have produced are more unoccupied cities, instead of balanced and sustainable growth.
The fact is that Markit’s composite PMI index fell to a nine-month low, indicating that European business activity is growing at the weakest level this year. France was, once again, the eurozone laggard, with its service and manufacturing sectors both shrinking and losing jobs again. Markit says the French economy continues to weaken. Economies all over the world are in, or near a recession. However, Wall Street’s greed and hubris is trying to convince investors to believe U.S. growth will be immune from the global malaise and leave the earnings of multinational corporations unaffected.
But why would the growth rate of earnings and the US economy be better than virtually every other country on the planet? Linear-thinking economists are extrapolating the Q2 GDP rebound from the negative first quarter as a sustainable trend. But a temporary bounce from a sharply negative 1st quarter should not be viewed as a permanent growth trajectory. The entire planet is suffering from anemic growth due to a tremendous debt albatross. That includes the United States.
To think Q3’s earnings won’t be disappointing, investors have to believe that weak and faltering global growth, a surging U.S. dollar, the Fed ending a $1.7 trillion QE III program, and the specter of rising interest rates in 2015 will be great news for multinational corporate earnings.
The United States is part of a global economy and does not operate on an economic island. Now that the Fed’s QE programs are ending, global deflation is starting to take over. Equities, bond yields, commodities and home prices are all starting to roll over. Look for these factors to negatively impact S&P 500 earnings in significant fashion this quarter.”
King World News note from Egon von Greyerz: “On November 30, Switzerland has the unique opportunity to lead the world back to sound money and sounder economies. I hope my Swiss compatriots will create history on that day. In order to fight a successful campaign, we will need to raise additional funding for the Swiss Gold Initiative. Any contribution, large or small would be extremely helpful and welcome. This is a chance for readers around the globe to change the world, one country at a time.”
Your website is less credible with Rickards who gives out only half truths.
Barbara,
Variety of opinion is what I try to put forward just like yours.
Greg
Might point is “smart” means nothing in the context of life. Truth rules. What we have are lies/deceptions regarding this whole discussion…..Do you disagree that Saudi Arabia has had falling production the last few decades ? Do you not agree prices are nothing but financial engineering for political gain, whether it be Saudi lusts for pipeline control or US desire to harm Russia ?……. I always read ALL comments and consider most highly informed………… Again, the Brics will decide what form of trade/currency is accepted. Not the IMF as your guest suggests………………..Frankly, I don’t even get your reply regarding my comments…….. I welcome all replies from your viewers. What facts that I posted are wrong ?
Jeff,
You come off pretty harsh when you say “it’s not good enough.” It sounds as if you think I would intentionally mislead people–I don’t. You should listen to Rickards on the IMF and Yuan. I am not saying he’s right, but who knows what really will happen. Many have predicted gold at $3,000 per ounce by now and what happened? It’s at $1229. Oh don’t get me wrong, I think gold is going to end up much much higher, but you have to admit not many thought it would fall this hard from $1,900. (Of course, I know the powers did it by use of criminal manipulation but nobody thought these evil bastards would be able to pull off this kind of decline while the world and the U.S. was going deeper into debt by the trillions of $’s.) I am not so sure the Yuan is truly ready for a global reserve currency. Rickards makes a good point about that in this interview. His hedge against the USD does make some sense. There is some truth in the analysis that China may want a place at the table for the IMF’s SDR’s, but I really don’t know. The entire economy and meltdown is taking a really difficult path to track, and that is why I put so many opinions on this site for folks to digest, including yours. Your points are well made and well taken. Thank you for participation in this site!!
Greg
Really impressed with many of the comments here. Some very infomed people around us here.
I do not trust Rickards myself.
Dear Greg,
I have sent to your web-site a previous reply, but I did not get any response ? Oh well, I am a researcher with History and Theology, I studied at degree level way back in 1980-1984. In the UK, I have been keeping a very close eye on both schools of macro-economics since 2007, and it was the source material from Mike Maloney, that made me interested in all aspects of money and economics and lies and counter lies of the financial world! Anyway, Greg, the bottom line is this, I have some information or should I say insight about what is coming to this world of ours, firstly economically then Politically, closely connected to our Religious freedoms! There are only a few people who are near to the facts/truth that I have, that I have read in these reply feedback on your website. But is there any person that watches USAWatchdog that has any understanding or any insight into the ‘Prophetic/Theological’ of this Global economic collapse that is fast heading our way, and no human being or any power on earth can stop it! THIS MASSIVE END OF THE LYING SHOW OF ECONOMICS THAT WE SEE IN THIS WORLD, IN EITHER THE BRICS, IMF, FED, ECB, BOJ, BOE, OR ANY OTHER FINANCIAL HQ, ARE ALL POWERLESS TO STOP THIS SOURCE MATERIAL THAT IS FOUND IN :- Daniel 11:43 ” Does any one know of this ‘He’ is in this verse, and in fact the ‘He’ in all the verses of Daniel 11:40-45, Its all the same power that acts out its final role as a world power ! Before, I end this reply, the other place that this Global power is seen to be taken down before the rest of the human race watching it being destroyed is found in Revelation 18, in a highly symbolic peace of Scripture, the greater part of this chapter 18, is ‘Literal’ in its application of fulfillment in what is soon to come to this world! I will only share the key to the door to reveal the facts if there is anyone out there in cyber space, that has some understanding in these two very sad and powerful prophetic scripture texts! I have not found any person as yet with any insight to this subject since the 2008 economic earthquake!….Robert.
Robert,
You may have been caught in a spam filter but I am posting your comment this time. Feel free to tell us more.
Greg
Hi Robert!
Here is a good link on understanding the head of Babylon:
http://www.ubm1.org/?page=afteriraq
And here is good link on when the head of Babylon falls:
http://www.ubm1.org/?page=babylonfalls
Please feel free to contact me bro if you have any questions :o)
Hi Greg!
Another great interview bro! Is there any way to set up a reply notification to our emails when someone replies to their comments? I think that would be a great feature to add if its possible :o)
In CHRIST! Rob
Greg could you put my email in the line where I tell Robert he is free to email me:
Greg. In a failed hyper inflated dollar, Why would having the infrastructure in place matter so much ? Corporation’s rule the laws of the world. 1st rule in any corporation is profit, not so much trust as it is profit. When the timing is right The corporations of China will open there capital to the world. example.
http://youtu.be/hDhmnrL8aJk
Rickards is clearly the sort of guy who know whats is going on, so when listening to him talk like he’s does about ISIS i totally lose faith in anything else he might say..! I am little disappointed that you, Greg did not challenge him on some of those clear propaganda, even perhaps racist statements. How do I know they are propaganda statements… because i listen to the alternative media like your show!!! Why do you allow him to say some of the BS without a challenge? I don’t mind you interviewing such an obviously control company man, but at least let us see how he explains away some truth when he’s confronted with it. If your not going to do that, with guys like this just ask them questions about the money or the specific specialised subject. By the way love your site. keep up the good work!
Peter,
I didn’t have him on to debate him. I wanted to find out what he thinks. I did say that the U.S. and Saudi armed ISIS (or the Islamic State.) That said, thank you for your feedback and your support.
Greg
Thank you Rick Perkins,it’s people like you in whom I preserve my faith.And thank you Greg not to censor my previous comment,I appreciate.But I’ll tell you,America is collapsing-I mean not only its economy- because of its ignorance,its arrogance and its incredible brutality practised all over the world including Ukrain.
For those interested to the authentic Islam I recommand them to read a modern translation of Quran (not a wahabi saudi translation).You’ll discover that the first thing angel Gabriel advised to prophet Mohamed is to learn and read.You’ll find that muslims do believe in Moses,Jesus (very important in Islam) and other prophets.French writer Lamartine or german writer Nietzsche describe very well Islam.
And once again,my Islam (I am Tunisian) has nothing to do with the saudi wahabi salfist extremist “Islam” practised in the Arab Gulf.
Harvey Organs blog is gone off the internet have you heard anything?????
Hi Greg….horrible audio on this latest Rickards interview. Sound is very low and barely audible. Please fix it and repost. Thank you.
Dear Greg,
Of course Jim is a smart guy…. you know what I mean? But that doesn’t tell that what he is saying is n’t through the mouth of……? I’ve three PHd’s does this make me a smart guy…no.
So, what I hope is that YOU Americans will going to think out of the box. I know this is very extra-ordinary. You (Americans) have killed in the past 100 of thousands of people in defending what???
Think about that and please give me NOW the answer: who has (have) killed JFK???
Regards
dr. Who
Greg,
Thank heavens for your readers’ feedback. Otherwise, I would go crazy as I too think Jim Richards to be a good dancer around the truth. A little truth and a lot of obfuscation – the man should have gone into politics. What a loser!
Clare,
I think there is more truth there than you think. Rickards sources much of what he says. Thank you for your feedback though!!
Greg
I appreciate the thumbnail written summary that accompanies Rickard’s interview.
The main problem I have with this site is that the list of interviews is so compelling, I feel like I should check them ALL out.
Ian Gordon, Mr. Kondratieff Winter, is on the same page with this info…time to interview him?
Sally A,
Thank you and maybe?
Greg
Hi Greg
I just want you to know that Veterans Today has published documented data that Jim Rickards is a CIA asset and a Wall Street insider. Michael is correct on his CIA/Mossad/MI6 intel operations with ISIS and all other Islam based terror groups. Greg, follow the money….and who controls these intel groups…not the countries these intel groups represent but the financial elite…it is the cabal meme. Rickards is out front to make his money but also be “the tell” which the elite feel they need to do before they do what they want to do. Thus, put Rickards’s comments on the financial system in the bank…this will happen…just a matter of timing. Rickards also knows the truth as to who the elite control throughout the world and how they do this…..and Snowden knew this as well….why do you think the political elite wanted Snowden in jail or dead for treason….he has all “the goods” on them. Peace, Doug
Doug,
Rickards has admitted he has worked for the Pentagon and for private banks. I am pretty sure he has admitted he has done consulting for the U.S. intelligence agencies. In this interview he said he “had a front row seat” in the Long Term Capital Management bailout and deal cutting. He is a top banker and financial expert. I don’t think this is a revelation. I put him on for his unique perspective, and he is a best-selling author. Thank you for your comment and feedback.
Greg
Jim Rickards Jan 09, 2013
Gold will trend higher in 2013, but at a modest pace and with the usual volatility. The catalyst for a spike into the $2,500 to $3,000 price range will be an announcement by China, probably in late 2013 or 2014, that they have acquired 4,000 tonnes or more in their official reserve position. This will put China on an equal footing with the US in terms of a gold-to-GDP ratio and validate gold as the real foundation of the international monetary system. Once that position is validated, gold will move to the $7,000 range in 2015 and beyond. Any lower price level is deflationary and must be avoided at all costs by central banks. The key is that the US and IMF do not want gold to achieve its full potential price until China has acquired its appropriate “share” of official gold reserves. Any other outcome is unacceptable to China.
http://www.informedtrades.com/703389-jim-rickards-how-gold-gets-$2-500-18-months-$7-000-2015-beyond.html
greg;
Prime Petrodollar Nonsense
The most ludicrous of the above articles is by Clive Maund on Kitco. It’s a perfect example of misguided, overblown, petrodollar hype.
The central thesis of these articles is:
It takes dollars to buy oil
Oil is starting to trade in yuan and rubles
Oil will start trading in other currencies
Collapse of the dollar is at hand
Yuan will soon supplant the Dollar as world’s reserve currency
The starting thesis that it takes dollars to buy oil is wrong.
As I have pointed out for at least a decade, it does not take dollars to buy oil any more than it takes dollars to buy gold.
Gold is priced in dollars. But you can walk into any coin store in the U.K. and buy gold with British Pounds; You can walk into any coin store in China and buy gold in Renminbi (yuan); And you can walk into any coin store in France and buy gold with euros.
Oil is priced in dollars. So what? Currencies are fungible. Even if one did need dollars to buy oil (they don’t), the pound, Swiss francs, euros, and every other major currency on the planet can instantaneously be exchanged for any other currency at will.
Questions for Yuan Lovers
Please note that in spite of all the yuan reserve currency hype, one currency that is not freely convertible is the Yuan.
When will China have the biggest, most open bond market in the world? Next year? A decade? three decades?
I ask these questions because until China has the biggest, most open bond market, a freely floating currency, and it eliminates currency controls, there is no chance the Yuan will supplant the dollar.
And what about political freedoms and global trust? Will a centrally planned undemocratic economy like China ever get that trust? . . . .
Petrodollar Silliness Way Back . . .
For discussion of another truly ridiculous idea, please consider Countdown To Dollar Implosion Madness in which the dollar was supposed to collapse in favor of a “Super Sovereign Currency” demanded by China. . . .
China has a rigid, unsophisticated, and largely insolvent financial system with vague delineations between what is and what isn’t implicitly guaranteed by local governments or by Beijing. Managers have little experience of risk management. An elimination of capital controls and a significant increase in the use of the RMB in international trade and capital flows (currently it is a little more actively traded than the Mexican peso, and its use over the past two years has grown slightly faster) could subject the banking system, especially given the uncertainty that surrounds the Chinese economy, to shifts in capital flows.
I don’t think China’s banking system can handle the risk, especially of large inflows followed by sudden massive outflows. These could easily destabilize the Chinese economy at a time when it is most vulnerable. I have heard some analysts, both Chinese and foreign, argue that this kind of risk can be managed by the simple expedient of restoring capital controls as soon as there is a problem, as Malaysia did in response to the 1997 crisis, but it isn’t quite as easy as all that. Regulators are always eager to try to calm markets down whenever a rise in uncertainty threatens to become destabilizing, and to impose capital controls during a period of uncertainty is almost guaranteed to increase the uncertainty substantially. At any rate, during the nearly thirteen years I have lived in China, the elimination of capital controls was always something to be expected within the next five years, and I personally never believed then, nor do I believe now, that we were or are likely to see significant relaxation of capital controls anytime in the foreseeable future. . . .
If a global currency crisis does start soon, then gold, the much maligned U.S. dollar, and U.S. treasuries will likely be the beneficiaries, not the illiquid yuan.
Precisely what the next currency system will look like is unknown. But if the system changes in a major way, neither the yuan nor the U.S. dollar will be at the heart of it.
CLICK HERE to subscribe to the free weekly Best of Financial Sense Newsletter
http://www.financialsense.com/contributors/michael-shedlock/end-u-s-dollar-hegemony-not?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+fso+%28Financial+Sense%29&utm_term=FSO
Fact filled interview with Koos Jansen who is a reliable expert on China’s gold accumulation.
http://www.tfmetalsreport.com/podcast/6214/chinese-gold-demand-expert-koos-jansen
Hi Greg,
I noticed that you’ve systematically and unconditionally defended Israel in your comments.I ‘ll give you some evidences that Israel created “ISIS” or at least that “ISIS” serves the israeli interests:
-Senator MacCain,the best friend of Israel has met several times “moderate terrorists” including Baghdadi,the “ISIS commander in chief”.There is an Internet campaign within USA demandind his arrest for his activities and complicity with terrrorists,
-You know(because you ‘ve related it) that a syrian military jet was shot down by israeli forces while this plane was targetting ISIS fighters.It was in the occupied Golan (southern Syria,north of Israel),
-Benyamin Nethanyau,the israeli Prime Minister has met injuried ISIS terrorists in israeli hospitals ! It’s in the israeli newspapers ! It is not hidden,it is openly claimed by israeli authorities !
-Last but not least,while all the pepole (Muslims,Christians,Yezidis)were savagely slaugthered in the region,not a single ISIS attack against Israel were registrated (?!).
You see,Greg,when Arabs make wrong things(Saudi Arabia and Qatar have wrong policies) I never hesitate to critize harshly these countries.I’m not a traitor (eventhough I’m Arab)because I tell the truth ! But,in your case you seem to defend automatically Israel.I hope I’m wrong.
Aziz,
Lots of sin to go around in the Middle East for every party involved.
Greg
Jim Rickards generally has some good opinion to offer, but he needs to be approached with caution.
He’s an establishment man – even a cursory check of his background confirms this assertion.
The repeated references to the IMF and SDRs are suspicious in my view.
To anyone who follows geo-politics, it is abundantly clear China and the other BRICS intend to leave the IMF behind completely.
Rickards very rarely mentions teh BRICS and in particular the BRICS Development Bank – a direct competitor to the IMF. For some inexplicable reason he considers the Washington controlled IMF will survive after the USD dies – I’ll go on he record here to challenge him on that point. Let’s see where things are at in a year or two.
It is entirely possible that at least some of his comments are pure establishment propaganda designed to influence the alternative/libertarian thinkers.
Of course it’s also entirely possible the global elites (everywhere, including Russia and China) are working together against the rest of the 99.9% of us.
A,
The Road to Hell is paved with good intentions.
It may be worthwhile considering that the plan of the BRICS is to counter the IMF/WB influence ………. but what if we have a systemic economic collapse before that eventuates….so that the IMF becomes the banker of last resort. Of course that would imply that a collapse cannot be left to occur by natural causes….it would require some assistance in terms of being engineered so that it appears at the most opportune time. We don’t play conspiracy theories here…do we ? We do accept that the central planners are evil and have no desire to dispense with their wealth, power or control… not without pushing humanity to the brink.
I bought Rickard’s book THE DEATH OF MONEY. In the book, Rickards denies the truth of 911, which is that the attacks on 11 Sept 2001 came from Israel and criminal traitors in the US government. Clearly, with his pushing the SDR, which is another tool for the Illuminati Satanists to gain control of the world, Rickards is a fake and phony. Greg, Rickards presence on your website hurts your credibility.
Greg, somehow one sentence out of multiple comments has been misunderstood or blown way out of proportion. Being smart ……”not good enough”. Many here have expressed similar concerns……….Anderson said ” To anyone who follows geo-politics, it is abundantly clear China and the other BRICS intend to leave the IMF behind completely. That word is the clue…COMPLETELY (my insert)
Rickards very rarely mentions teh BRICS and in particular the BRICS Development Bank – a direct competitor to the IMF. For some inexplicable reason he considers the Washington controlled IMF will survive after the USD dies – I’ll go on he record here to challenge him on that point. Let’s see where things are at in a year or two. ” ……….. Tie this together with my previous statements that “he who has the gold (Brics) makes the rules.” We have none, zero, zilch. I’m quite confident Richards would not agree. There lies the problem. If you don’t understand that one thing (no gold) you will misunderstand all the rest…………Love the site, Greg. Thanks for letting me vent.
Thank you Jeff for the comment. This country is going to have to work very hard and very long to come back from this.
Greg
why won’t Rickards come clean and answer the question Lar Schall has
http://www.corbettreport.com/interview-955-lars-schall-and-paul-zarembka-dissect-the-911-insider-trading/
Hi Greg,
I have really enjoyed your blog and read it regularly and even have been a contributor.
However when you have Jim Rickhards on I have to express by total disappointment!
Mr. Rickhards has shown himself to be less than trustworthily and it discredits you that you give him a platform to speak, please stop it.
I like this guy, you know when you are author , you need to make lots of noise so you can sell your books. Snake oil to me.
Hello, I am reading these comments nearly two years later, and, Surprise! The world hasn’t ended by Ebola, financial meltdowns, government coups or any other means [although apparently The End is Near – again – in 2016. Who knew it happened so often?] My question/point is this: If all the above comments about Ebola conspiracies failed to become reality, doesn’t that take the wind out of the sails of those conspiracy theorists that claim “insider knowledge?” You cry “Wolf” too many times and the village no longer considers you to be a reliable source. Guess I better go back to the “lame-stream media” for my information…
p.s. Obama only has a few months left to declare Marshall Law and confiscate all my guns before that hyped threat turns out to be just another case of false fear.
Everything is OK Stephen. You can go back to sleep now. Everything is just as it always has been.
Greg