Jim Rickards is starting to look prophetic

Check out this video from Jim Rickards.  It was filmed back on July 12th of 2018.  Back then gold was going sideways to down, yield curves were normal and the fed was still telling everyone that they could raise rates at will, even "on automatic".

He predicted:
- Very little doubt fed would tighten in Sept 2018.
What actually happened:
- Fed raised by 25 BP.

He predicted:
- Fed would only stray from their "automatic interest rate hike" program if one or more of 3 factors occurred, one of which was stated to be a stock market panic.  He said that if markets pulled back 15% in 6 months then fed would let it go, but if 15% in 6 days they would change their behavior because it would be deemed "disorderly".  In other words, the herd would be headed for the door under the conditions.
What actually happened:
- Markets began to panic under increasing interest rates and the fed blinked. They stopped raising rates and they stopped quantitative tightening ahead of schedule.

He predicted:
- The fed is overtightening because you can't normalize the interest rates and normalize the balance sheet without causing the recession that you were actually trying to prepare for.  Schiff says the same thing: the fed printed money and allowed it to go into asset prices so that people would feel rich and thus not be so careful about spending.  But causing a recession would collapse the stock market and thus cause negative wealth effect and thus add to the recession.
What actually happened:
- Stocks began to plummet and so the fed backed off normalization.

He predicted:
- As the signs of recession emerge, yield curve inverts, growth and job creation slows down the fed would eventually reverse course.  And when they do, gold is going to skyrocket because that would be an admission that their bullshit notion of being an economic shock absorber no longer works.  They can stimulate in the bad times but they can't take it back in the good times without causing the crash they hoped to avoid.
What happened:
- The fed not only halted interest rate increases but also stopped QT.

 He predicted:
- When the fed has to throw in the towel on interest rates, gold would "skyrocket".
What actually happened:
 Gold, which had been stagnant, moved up $350 in a very short time after the fed's decision.

He predicted:
Markets are nonlinear systems.  If you triple some factor like debt or number of derivatives, you don't triple the risk.  It's an exponential function.  Start watching at this offset for a couple minutes to get a handle on it.  Bottom line: the next crisis will be exponentially worse than the last one.

Folks, I knew this was going to be true long ago, as soon as I realized that debt growth was NECESSARILY an exponential function.  It is the whole reason I began this blog, in order to warn as many fellow humans as possible to give as much time as possible to prepare.  I'm sorry to say but I'm pretty sure very few people besides me did any preparation.  I also have to admit that I pretty much knew this would be the case.  People won't believe the power of the collapsing debt Ponzi until some time in the not too distant future when it sucks all the economic air out of their room.  It will arrive with such speed that every supposedly knowledgeable person who gave no advance warning will say they never saw it coming.  I don't know what else to tell you except some of the very smartest people in the world are now coming public with the same things I have been saying. That means we have little time left.  Months, quarters, maybe even a couple years.  But not decades.  NO WAY.  The exponential rise in debt cannot be stopped at this point without bringing on the greatest depression and if they let it go as is it will create hyperinflation.

If you have ANY common sense at all, make some preparations.
- what will you do when the lights go off due to energy supply chain interruptions?
- what will you do when hungry people begin to take for themselves what they need to survive?  I'm not just talking about your stuff.  I'm talking about your food, your bank account, everything and anything they can take.  Maybe even your life.
- what will you do when the banks shut down and do not allow cash outflows?
- what will you do when layoffs and unemployment are 50% or more?
- what will you do when the fake paper money begins to lose its value at an exponential rate?
- what will you do when police don't come because they are overloaded with work, or because they are just plain old scared of what they might walk into?

I'm not trying to scare people but knowing that some or all of these things will necessarily happen when the global debt ponzi goes bust, I have spent the past 10 years trying to warn people without taking a penny for my work.  I have put up with people's ridicule, etc.  But what I will not put up with is people who didn't prepare in advance begging for help after the fact.  I have already determined that I can't save everyone and my conscience is clear simply knowing that I did what I could to help those who would help themselves.  Everyone else, unfortunately, will pretty much deserve what they get.  If someone yells "timber" and you stand under the falling redwood, that's on you.