Wednesday, October 12, 2016

Jim Rickards thinks that a dollar collapse is coming sooner rather than later.

Here is an interesting and informative video hosted by Jim Rickards.  Jim might well be wrong about his timing because he thinks that fundamentals control the markets in real time which I have proven many times to be wrong.  But eventually the true fundamentals do catch up and the US is fundamentally running a debt Ponzi based on nothing but a faith based currency which is backed by nothing.  So at some point Jim's predictions will pan out but the timing is much more of a question than Jim thinks.

In any case, it is worthwhile to watch / listen to the whole thing IMO.  Forget the sales pitch at the end, especially his crap about owning call options and other leverage on gold.  Rickards isn't doing this for free (nor should anyone expect him to... the expectation of something for nothing is a liberal trait.).  But to count on what are essentially paper promises in a time of such crises as he predicts is to simply not "get it".  Promises will count for nothing under his collapse scenario.

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