Jim Rickards, the acclaimed author of Currency Wars: The Making of the Next Global Crises, warns that the utilization of the $300 billion Russian assets will “destroy the U.S. Treasury market.” In a conversation with Daniela Cambone, Rickards delves into the intricacies of the correlation between the unemployment rate and inflation, as depicted by the Phillips curve, cautioning that this relationship can be misleading. He emphasizes that “employment is a lagging indicator” because employers strive to avoid layoffs until desperation sets in. According to Rickards, the challenge is that by the time unemployment rises, indicating an impending recession, rate cuts may be too late.
On the waning dominance of the U.S. dollar and the rising influence of BRICS, Rickards suggests that the dollar can handle the “dirty work,” allowing the new BRICS currency to enjoy a “free ride on the dollar.” In conclusion, Rickards anticipates a positive trend for gold in 2024. For more insights from Rickards, watch the video.
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📖 CHAPTERS:
00:00 Recession and soft landing
4:00 Economic situation
5:47 Fed and political
10:44 Political election
17:42 U.S. dollar/Russian
24:41 BRICS
31:47 Banking crisis
34:22 Bitcoin
36:57 Gold
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43 Comments
This is two years old. I'm glad to see it running again. Those complaining about Trump need a refresher course on the Biden years.
America's problem but, it's 2 years ago?…etc,
The dollar has become a Ponzi Scheme. They keep printing and printing.
ok, I've got my crash helmet on, Jim. it's been 5 months now. What do I do now, Jim?
You have been saying this for 15 years
Look at the ukrain/biden ongoing corruption.!!!
Very old "business". Theft.
Biden is corrupt with Ukraine, long term scam.
Very GUILTY ! Stealing our taxes !
WOW! EVERYONE should hear this ! Dems are murdering TRUMP… Evil Dems! Shame !
As the dollar gets weaker the bric get stronger just like gold
10 year treasury note is now 4.2%. Not much movement in two months. Yet gold is up over $2200. Why?
History. The market goes up 96% of the time in an election year when the market has a positive January, which happened. Which history will prevail?
Things can swing quickly. Teflon Don will escape it all while Biden is crumbling. Trump leads in all swing states. Most of his supporters would vote for him in jail.
The Biden Admin has been lying about employment stats for over a year!
I know someone that has a worse prediction record than Janet Yellen, it's your guest – He's been predicting a crash for well over a decade. And gold to skyrocket. Both will not happen for the simple reasons listed below.
With 2.5T in deficit spending a recession is impossible. If we didn't loot the treasury the economy would be falling about 6% A YEAR, same for China. Gold production is greater in the US now than in 1850 during the gold rush. This from the huge deposits of flour gold discovered in Nevada. supply is depressing the price – and folks can't buy much gold at $2200 an oz. Central bank buying is holding up the price of gold as is the exit of money from China. What's going to break the system is the CRE market which will have to be refinanced in the next year and most is worth a small fraction of the loans.
I'm tired of Jim Rickards and his tarot card readings.
Happy New Year?
Rim Jickards
jim always a bear – you miss so much upside
Brilliant discourse!
Putin is biding his time awaiting Trump to get back & then he can get to work in earnest…
India is no longer a democracy, it is now a fascist state with their own Mussolini, new & “improved” in the form of someone called Modi.
You are wrong Jim, AI will save the day even though it cannot tell who is worse: Elon Musk or Hitler. That is so easy even I can tell: Elon! He killed the Twitter bird. X-ed it out to be precise. Sacrilege!!
He needed to explain the, “no use case”, for Bitcoin better. I’m not a bit holder, but isn’t the only case its, “use”? If people have faith in the ledger keeping track and voluntarily use it with faith, to exchange goods and services, isn’t it no different than the dollar presently; a piece of paper running on faith backed by zero anything solid?
Whoa
Just watched interview with g Edward agree with him in individualism let's all be individuals and work for each other let's make everything free if you need it let me know if you agree
I have been hearing this since 2008. It kept me in fear out of stock markets and I missed the greatest "bull" run in human history due to fear. Honestly, the Magnifcent 7 ate the safest place your money can be.. the Fed will always backstop those companies as they are actually govt entities masquerading as corporations. They are all darpa, c eye aye projects. All the tech companies are apparatus of the ovt… they will be a very safe store of wealth as those companies are the control grid for the new world
Please , ask this man to stop saying the same single idea since 120 years. Why isn't he in a nurse home yet ?
How many years is he going to tell this story. Broken clock.
How long are we gonna hear this narrative? How many more books will Jim write 💰before the bottom drops out?
Their both wealthy, Danny and Jim. Their not in recession yet. I think thats what they mean or they're asleep.
This guy has been claiming that the world is ending forever and it is always just around the corner..you remember chicken little or the boy who cried wolf, this is that .! America is the best
Rikards position on Bitcoin is sad because a smart man like him does understand. You CANT BUY COFFEE with gold but you CAN with BITCOIN!
2024😮😮😮
Very enlightening. Thank you.
I hope it does. Let’s bring these bankers and corporate executives to justice
Regarding economists, Jim is right at the top; he may be the top dog… number 1.
Thank you, Daniela. for having him on. He's great and you are too!
And, he's an attorney; I like that too! That helps also! Fabulous guy!
Again, he's likely the best!
Jim Cramer is a CNBC "front face."
Harry Dent is an entertainer.
Both are Hollywood personalities who fool the gullible.
3 attributes about Daniela:
A-Intelligent
B-Gorgeous
C-Italiana … ❤️
What ever happened to basic English grammar? Subject-verb agreement is a basic rule.
As a practicing lawyer and Constitutional law professor for many years (no Trump supporter, ever), I am professionally and personally destroyed by the Democrats law-weaponizing against Trump on wholly political grounds. It’s horrible and truly destructive to our Country.
Dude's been making this call for 20 years. I guess sooner or later he'll be right.
I agree with all the comments : ) love the content!
I avoided watching Jim’s YouTube’s for 10’years. Prior to that I was a fan of sorts. Ten years inn same message. Give him points for consistency. But a stopped clock is right twice a day. All that’s changed Ian he seems more bald.