The start of a new year brings optimism, but our guest today, Jim Rickards, brings a timely reminder of the challenges we may face in 2023. A former lawyer and investment banker turned economist and bestselling author, Jim brings a wealth of expertise and guidance to help navigate the looming global economic crisis we now face.
He believes we may be on the brink of a financial meltdown that could change the world as we know it. These are challenging times for so many, from the ongoing war in Ukraine, the crypto market crash, soaring inflation, and spiralling energy costs to worrying signs for the future of the dollar. But, Jim as always provides valuable insight and practical advice to prepare and protect our wealth during such uncertain times.
“To say the world is changing fast is obvious – and an understatement. The challenge today is not the speed of change but the kind of change.”
With over 35 years of experience in the financial industry, including positions at Citibank, Long-Term Capital Management, and Caxton Associates, Jim is a trusted source of information and has advised the US Department of Defense, the US intelligence community, and major hedge funds.
His books, including The New Great Depression, The Road to Ruin, and Currency Wars, have topped the New York Times bestseller list and his latest, Sold Out: How Broken Supply Chains, Surging Inflation and Political Instability Will Sink the Global Economy, explores the potential for global economic collapse due to broken supply chains, surging inflation, and political instability.
As a guest lecturer at universities, including Johns Hopkins and Georgetown, and with regular appearances in major publications such as the Financial Times, Jim has a unique perspective on the potential future and how we can be proactive to protect our wealth and investments.
Jim emphasises that financial crises are becoming increasingly severe and warns that there may come a point when such events become too large for the Federal Reserve to handle. He suggests thinking of it as dominos falling and that each bailout is getting bigger and each crisis is more dangerous than the last one.
Jim also believes we are edging closer to a world where the dollar will no longer be the global reserve currency and a new supply chain will emerge.
“In a decoupled world, the side that values human rights and nurtures trust will rediscover that money takes care of itself.”
For Jim, the supply chain is everywhere and impacts everything. When the supply chain breaks, the global economy breaks with it, and he wants to help everyone protect their wealth and navigate this new economic reality.
I always look forward to my conversations with Jim as they provide valuable insight that we can use to our advantage. The world is constantly changing, but with the right guidance and attitude, it is possible to stay ahead of the game. This period represents a great opportunity for those who are willing to put in the work.
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- The key is to see it coming
- The FED has the worst forecasting record
- We were hours away from closing every exchange in the world
- The complex dynamic system
- Have we reached the terminal rate?
- The FED will continue to increase rates
- There is no correlation between unemployment and inflation
- The zero-COVID policy was all political
- We’re in a really bad recession
- The war in Ukraine
- The US is using Ukraine to buy more weapons
- Is there going to be a nuclear war?
- Thoughts on Open A.I. and ChatGPT
- I’m surprised I didn’t get banned from Twitter
- I feel more comfortable because Elon Musk is in charge of Twitter
- The Twitter Files
- Thoughts on crypto and blockchain
- The cultural phenomenon behind crypto
- What’s next for Jim Rickards?
