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James Rickards is an American lawyer and a regular commentator on finance. He is the author of The New York Times bestseller Currency Wars: The Making of the Next Global Crisis, published in 2011, The Death of Money: The Coming Collapse of the International Monetary System, published in 2014, and The New Case for Gold, published in 2016.
02:20 Brian’s thoughts on the episode.
05:28 Brian’s Introduction.
06:01 Emergence of Long Term Capital Management (LTCM), the hottest thing out there.
08:37 Insider account of when it all went wrong.
09:30 Myron Scholes, Fischer Black and Robert Merton.
11:17 Notional derivative swaps, a monster completely out of control.
13:02 Who is going to bail out the central banks in the next financial crisis, hypothetically in 2018?
18:53 Magnitude of financial consequences in1998 and 2008 financial crises.
26:59 Social unrest in financial crises.
30:39 How James forecasts terrorism attack, election results and next apocalyptical financial crisis.
41:34 “The Global Elites’ Secret Plan for the Next Financial Crisis.”
49:00 Break up big banks: get rid of derivatives: re-instate Glass-Steagall.
56:24 What we can do to save our families.
1:01:17 Where Trump election forecasts went wrong and the financial prospect for Trump’s policies.
1:08:05 Where James Rickards puts his money.
1:11:40 What James has learnt about an emotional, physical and financial setback.
1:16:51 How James writes and produces consistently great books.
1:20:35 Phone call to the 20 year old James Rickards
1:22:41 Best advice ever received.
1:24:01 Brian’s summing up.
Long-Term Capital Management
Johns Hopkins University
John Hopkins School of International Studies
US Department of Defense
Pentagon Preps for Economic Warfare
When Genius Failed by Roger Lowenstein
International Monetary Fund (IMF)
Special drawing rights (SDRs)
Federal Reserve System
European Central Bank (ECB)
‘Sapiens’ by Yuval Noah Harari
‘Liar’s Poker’ by Michael Lewis
‘The Bonfire of the Vanities’
‘The Black Swan’ by Nassim Taleb
Central Intelligence Agency (CIA)
The Sumitomo Bank
‘Fools Gold’ by Gillian Tett
‘Ten Days That Shook the World’ by John Reed
People mentioned in this episode:
Robert C Merton
Peter R Fisher
Henry (Hank) Paulson
Lawrence (Larry) Kudlow