Worthwhile audio interview of Jim Rickards by Alex Jones

Here is a worthwhile follow up interview of Jim Rickards.  While it is basically a sales tool for Rickard's new book, it contains a lot of good and true info.  Eventually we will end up with massive inflation or even hyperinflation in the dollar but I think deflation still needs to play out.  The collapse of banks, collapse of stocks, collapse of 401ks and insurance policies that Rickards talks about in the interview is deflationary in nature.  At some point, however, the bad debt will be defaulted on and then, yes, there will be a massive devaluation of the dollar which some people will call inflation but in fact it will simply be the loss of confidence in the con game known as the dollar.  If you listen to the interview you will hear many things I have written about extensively.  To name a few:

• the fact that the dollar is now backed by nothing except confidence.  Without hard backing such as gold, etc. the dollar has no intrinsic value, no floor to hold it up from complete collapse.  Few people understand this and so they also do not understand how fast it can actually happen.  They think that the government will have to print up a bunch more money before the dollar becomes worthless and that is not the case.  The dollar is ALREADY worthless as in it has no value.  It is unbacked paper like baseball trading cards, etc.  So the key is that the damage has already been done over the past 100 years of removing all value from the currency including taking all precious metals from the coinage.  By the way, Rickards explains how the petrodollar deal with the Saudis was really a military for hire deal that we have now reneged on (we renege on everything eventually, you have to be a fool to trust US oligarchs...).  So in essence, the dollar has become a military backed currency, something that you probably never read anywhere else before you just read it here.
• the fact that stocks are going up on record margin debt with declining and downright thin volume.  Again, when stocks collapse people will say they never saw it coming but the signs are all there.
• the federal reserve is clueless.  They are not omnipotent or omniscient.  They are rolling along with the rest of the herd and taking credit for the results even though it is the mood of the herd that has pushed the direction.  Markets went up because people had confidence regardless of what the fed did.  When the confidence in this CON GAME collapses, so will the markets and they will do so regardless of what the fed does and in fact many will blame the fed for the collapse not because of the con they ran in the past but because of things they will do in the future.  But the con has been going on for 100 years now so when it collapses it will not be due to anything except for the fact that no con ever ran forever.  A con is a mania of sources - a mania of confidence.  No mania ever lasted forever and they don't plateau either.  They boom and then they bust.