Jim Rickards - Central Banks Just Created a Gold Buying Opportunity
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- Опубликовано: 28 июл 2024
- Jim Rickards sits down with Shae Russell to discuss inflation, interest rates, and why you need to have some gold in your investment portfolio.
Jim Rickards is an American lawyer, economist, investment banker, speaker, media commentator, and New York Times bestselling author on matters of finance and precious metals.
He was the principal negotiator of the rescue of Long-Term Capital Management by the US Federal Reserve in 1998. His clients include institutional investors and government directorates.
He is the author of Currency Wars: The Making of the Next Global Crisis, The New Case for Gold and “The New Great Depression, Winners and Losers in Post-Pandemic World”.
Learn about Jim Rickards' prediction of The Long COVID Decade and get a copy of his eBook The New Great Depression here: pro.fattailir.com.au/m/1818063
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The information contained in this video is of a general nature and is provided for information purposes only. It is not intended to constitute advice, nor to influence any person in making a decision in relation to any precious metal or related product.
#jimrickards #gold #inflation
Shae asks great questions and then allows her guests to run with the ball. Very professional and excellent content. Thankyou.
I love Jim Rickards, he was one of the people that influenced me to buy gold and silver and helped me understand gold. Others are Robert Kiyosaki, Peter Schiff, Mike Maloney.
Mr. Richards is simply great. All his books should be kept as reference books...starting with Currency Wars to The New Great Depression. Thanks for having him on your show.
Also check out economist Dr. Lacy Hunt
@anahita, you mispelled Mr Rickards' name. Please correct it; otherwise, I'll report it to RUclips's Community Action Team
Inflation is temporary yes ofcourse look at tips Real interest rates aon 10 yr is - negatve .08 That is the real proof of inflation that cannot go away for a very long time. .
He is Brilliant
Shae Russell made my day. As a young U.S. Marine in 1970 I took my 2 week R&R in Sydney. I met a drop dead gorgeous Aussie redhead and she's sitting next to me as I write this (although she's unaware I'm writing it, more fun that way). She's more beautiful today at 71 than she was at 20 (to me). Shae, you're gorgeous as well. Thanks Australia. I got to go waltzing with Matilda.
Shae Russell is 71 years old? No way. She's a beautiful 29 year old.
Luck man, redheads are my favorite!
Well done Marine! Oorah!😀
I was 1 in 1970 and I thank you for and appreciate your service to our country. 🇺🇸
Glad you got your dream girl! 😎
Simper Fi!
The FED will never say things are bad. That would be equivalent to them yelling "Fire". They will always put a positive spin on things.
Right. They have no choice. The last thing they need is mayhem and chaos.
Correct and when the Hyperinflation comes they will blame Russia and China for it
Somebody are controlling Fed that's Rothschilds, Rockefellers & Mogans. They aren't gonna tell ppl
@@aaronee2752 you are right But Rocafelers and Rotchailds and Morgans are the owners of the Federal Reserve that is why they are controling it. The Federal Reserve act in 1913. Its private Bank it is NOT Federal and has No reserves. It just printing dollars (Backed up by Nothing) from thin air. It was backed by Gold until 1971 when Richard Nikson disconnected the dollar from Gold. Now the dollar is the Biggest Ponzi scheme in the world.
Matt Taibbi wrote a book a couple years ago about the 2008 crisis. He had a chapter on Alan Greenspan and he documented every prediction he made and how every single one was wrong.
Only the patient people will win the game.....gold and silver.
Keep telling yourself, and telling yourself ,and telling yourself and...
Very true statement!
I think I can, I think I can, I think I can.
I’ll just keep stacking, and stacking, and stacking…
@@marcscott6142 are you certain of that?
It's not how much money you make, but how much money you can keep through investment, how hard it works for you and how many generations you keep it for
Most interesting about investment as a whole is that it represents a whole legion of adventures and entrepreneurs of risk takers, investors and problem solvers
Courage taught me that any sound investment will eventually pay off
Coins holds more value as a form of good money that is superior to any previously discovered or developed form of money
Coins are the frontier and amazingly transformative when you invest to prevent a lot of money from becoming a little
These are assets that can make you rich
Stocks
Bitcoin
Real estate
Crypto
Thanks Shae, love your work & thanks to Jim too ! - Ja (WA)👍❤️
Jim's explanations are sufficiently lucid to enable the listener to learn something worthwhile.
Hi Shae. Can you do a clip on the potential of Basil 3 implications which are to happen at the end of the month.???.
Nick Frappell our Global General Manager recently released a report detailing how Basel 3 will impact the gold market.
Read it here: www.abcrefinery.com/resources/media-articles/how-basel-iii-will-impact-gold-markets/
We'll see if we can get him on camera to go over it.
Thank you
Basil 3 only has implications on my Pizza Margherita 🙌
It has Already been delayed to 1january 2023. :/
potential of Basil 3 .....
This person once said that US going to attack N. Korea in 2 or 3 weeks. And when the reporters asked him what happened. He responded by saying: It will happen instead of say sorry that I scared people with no reason. I do not care what he says about anything!
If he leaked war plans before the attack occurred with insider knowledge this guy would be in a bunker getting his balls zapped. People will mention the sky will fall the moon will explode and they will sterilise us. It will be up to you to know better than be led down the garden path.
Just read his new book and it’s awesome 👍
Jim, your sounding stronger than ever. Jim are you and Laniett Zang on the same page?
I'm not sure it matters that much about the debate between inflation vs. deflation. It still will not affect my decision not to buy bonds; in fact I am short the 20 year and stacking in precious metals. Why? Because the debt isn't going away and even if the Fed doesn't raise rates (which will be impossible), the interest on the debt (and the future debt) will be unstainable. So really who cares about whether we have inflation or deflation. The precious metal demand is not going away and eventually the demand and true spot price for the metal coming from the investment side with industrial demand baseline will pull the futures price up. This is no different than paying the minimum on your credit cards and then they raise the rates.
Deflation is worse. It causes employers to trim the workforce. In the 70s we learned to cope with inflation. And businesses came up with ways to get their product sold. Changes in packaging, serving sizes... cheaper prizes in cereal & Cracker Jacks. Deflation means people don't spend because they know things will be less expensive the next month. It is a double-edged sword, though: Are we really supposed to be glad we're losing 5 cents on our dollar to the 'stealth tax' (inflation)? Just keep stacking... you got that right.
The returns are too small for the risk I agree. If you look at nearly every single city/town in North America they had serious unsustainable debt pre covid and lower tax collection in 2020 2021. If we do not see housing inflation "growth" then cities have to resort to hiking taxes and or making cuts (that could harm property value). If we see deflation it could impact stocks and retirement accounts. Falling prices could result in hoarding cash waiting for prices to fall further. Prices over 50+ years have only steadily climbed. Housing is up, health care is up (some covered by insurance or the govt) education costs are up. Electronics prices are going up even pre chip shortage (Graphics card shortages thanks to crypto mining) demand for copper and silver etc are rising for a green energy shift driving up the cost. OECD tax hike on tech companies likely to be passed on. Wages rents taxes do not fall easily.
@@MvTCracker But the bond market isn't showing signs of inflation worries... the fiat dollar vs. a basket of currencies is still anemic considering it's below 93... the price of gold sure isn't reflecting a reflation trade. While I don't profess to be a financial advisor (boilerplate RUclips disclaimer), I'm in gold for the deflation trade myself. Don't forget, this reopening is what, maybe 6 months old right now? We'll know more either way in a year, barring another lockdown. I don't see how people could've just spent a year depleting savings, living on credit card advances and visiting food banks (and what 'help' did the feds give: Maybe $5 grand at most?), only to turn around and say 'yippee, let's binge shop! What'll $45 get me?'. Lastly, don't forget the first 'M' in 'MMT' stands for Murphy, who always seems to put a fly in the ointment. Wait a year... let's see what pans out.
@@BrianHeimbuecher Bond market is rigged by the fed and treasury there is no price discovery. Manipulation can last a long time until something breaks. Would you loan the government your money for 10-30 years at 1%? 3%? Do you think your taxes utilities etc will be low that long? How often have fed and mainstream economists missed the mark? How often are jobs numbers etc revised up or down and we get a "surprise" miss or gain?
@@BrianHeimbuecher I'm also in Gold mining stocks have Sprott physical gold trust etc. I also do not claim to be a professional anything (I listen to a lot of experts) I agree we will see in time but we saw what Happened to supply and demand when we had Stimmies (Stimulus) (Cerb in Canada) what will happen under MMT? I don't think things will end well.
jims books are great
Shae you were absolutely awesome as a host in this interview i really enjoyed it ty
I found you… so happy. Great work Shea. 👍👍👍👍👍
Without velocity and with the printing of those loose money, are there really no effect just MMT.
It's a pleasure to listen to Jim's insightful discussions.
Two more virus are coming, better get your life right with Jesus.
REPENT
Make our own chips
Biden wants no one to work
Way to go Jim
Did you get the jab, o hope not
Pretty hard to believe that inflation will go away like a fart in the wind. But I hope he’s correct. If inflation continues for three or four months I think it’s here to stay.
The biggest crash since 1929 is at our door step.
In 1929 depression 20,000 people starved to death.
The next event will even be far worst.
Look up inflation and Milton Freedman ,fantastic
The inflation party has just begun and it wont be a fart in the wind but a turd on your doorstep. $9.80 /KG tomatoes in woolies today.
Deflation is worse than inflation, so be very careful what you wish for
@@pulsarlights2825 Good Point.
If you can, just buy gold and or silver. In the long term I doubt one will regret it.
Love the informative history...listened to the ENTIRE VIDEO ;)
Great interview, thanks Shae and Jim!
Subscribe to Peter Shiff podcast on you tube and you will have more knowledge
Excellent interview questions. One of the few moderators who have bothered to read the earlier books on Gold. For example, Dr. Roy Jastram in "The Golden Constant" found that historically gold was a better hedge against deflation than inflation.
22:27 But with less people won't there be less demand for goods & services to offset the decreased workforce?
This's an amazing information about gold and prices. No fluff, no fake in it just pure learning about gold and is value. This video is resourceful example of quality content on RUclips
Gayson, and yes I forgot to use the r in your name for a reason. Shhhhhh.....Truth coming soon to you.
The New Zealand Reserve Bank owns 0 ounces of gold or silver as reserve assets. They removed "specie" or gold and silver from legislation as being valid reserve assets in the late 1980s. This position is not being reassessed I am told.
ditto here in Canada !
Why would China accumulate so much physical gold and silver I wonder???
Your kidding me
That’s insane
mike salmon hey Mike just a thought. It's only good backed by gold and silver if if you can take delivery.
New Zealand have large sheep reserves
They could peg their currency to sheep as redeemable certificates
How would you invest 100.000$? How much gold in mandatory?
India's gold reserves are with 400 million households. It's one of the largest in the world.
Fact
You are right I have seen indian weddings. All Gold
Really good interview and information without any hype. Jim always has some insider info that is very pertinent as to what is happening and what we can expect to happen. He was aware of what they were planning a few years before and put his pen to paper even before we heard the fake news version of it from the fake news media. Thanks for putting this together Shae and thanks to Jim for the info.
BS... Jim always PRETENDS to have inside info. That is smart, it makes schmucks say.... JIM ALWAYS HAS INSIDE INFO
@@ashercohn3923 How do you know that he doesn't have insider information?
When does Jim's new book "The New New Case For Gold" come out?
LOL!
Thank You Shae
How long will the Australian public allow to be locked down for no reason? It’s amazing. I used to want to travel there, not now.
Australian population - 25 Million - Claimed COVID19 Deaths = 900 people (.000035%) - LOCKDOWNS continue without any legitimate reason
As long as the people stay quiet and obeys the OPRESION of the government. Remember if Nobody obeys Nobody Rules
Using 1990 CPI metrics, inflation is 13%, but I'll just try eating my electronics and clothes.
CPI is always manipulated. Why it's excluded energy (prises for Gas. Oil and so on) only % that the government like to present to the people to look good
Bought the book.
It's a good read for those that want to preserve their wealth in these times of increasing inflation.
According to Jim there is no inflation.
Thank you
I love to learn
How premium r u making to buy Bitcoin when u r selling your gold?
Great interview, Shae did a good job asking pertinent questions to Jim and extracting lots of valuable answers from him. Super effort.
Glad you enjoyed it!
Jim always understates inflation, ALWAYS !
This guy is a shill!
And who has the biggest say in the Bond market??
WHERE DO I BUY PHYSICAL GOLDS OR SILVERS?
Visit our website at www.abcbullion.com.au/
Cool cheers from Portugal 🇵🇹
Mr Richards,
Love you man 👨. Your videos very helpful.
Jim generally offers a more balanced look at things like inflation/deflation.
Chicken up 35% jim sees 2%, lumber up 150% jim sees 2%
We got negitive rates now ,gold getting sold or at least consolidating
Can someone explain in simple and verifiable language/numbers ...... Jim's statement that the US reserve position is 70% in gold 25:40. My basic understanding is that the Fed holds around 8000 tons of gold. Is that what he is referring to as representing the 70% ....Thanks in advance
Didnt Shae Russell once work or do reports for Australia Daily Reckoning relating to gold?
I did. I moved to ABC Bullion in April this year :)
@@07kato exciting ! Congrats
What if the fed stops buying 10 yr bonds? You think interest rate will stay low?
Jim Compares what I Buy Once A Year With What I Buy Everyday
Is there any chance that the US would sell some of its gold?
Is US gold held by the Fed or the Treasury?
I disagree with your view on prices rises. It will get very bad for everyone.
Unusual commentary from Jim. 10y yield rises in response to inflation, which means dollar is weakening, not strengthening. Gold tends to move inversely to real yields, not the dollar. Sometimes gold and the dollar move in the same direction.
In The Weimar Republic gold was 170 marks pr. ounze 5 years later it was 85 trillions
A well-rounded investor in finance and life
I am happily surprised that the U.S. has 70% of our reserves in gold. I hope that's right. But I find it very hard to believe.
Well i guess there is the argument: Why would they sell it if people will accept dollars?
Don't believe it!
Thanks
I love the wisdom flowing out of this man Rickards never bashing anyone
The big problem is algorythmes (computors doing your investing) They're
making positive investment decisions based on key words (from Powell for
instance) or market cap. Look at Tesla it 's market cap went up because they
borrowed money . The money was borrowed ( not an earned market cap) yet there
was an atomatic buy. Envestments are now done through artificial intelligence they
no longer are based on long term investing and good value measures . Just make
quick money , they will unfortunately also loose money quickly in the long run.
I’ll switch silver over to some gold when the ratio is fixed around 7 to 1.
HAAAAAAA ...you'll be waiting for a loooooooooooooong time !😂😂😂😂
Australian gold mining companies seem cheap with the relatively high price of gold.
Invest in the Real phisical Gold bullion in your possession. Stocks in the mines are good but more risky. AND Gold is Relatively cheap at the moment.
ABC Please upgrade your sound system!
What proportion of you portfolio should be in gold?
At least 10%
@@BDK86 What % do you hold? If you don't mind me asking.
@@simplewelshman I'm holding at 50%
I’m holding 75%
25% gold 15% silver
My question for Jim is this .... when were you in Fort Knox last .. ??? Audit needed me thinks....
Is that a Matsumoto in the background?
Old age pension in Alaska and USSteel had some curiosity going as they said they couldn't pay thier pensions to employees. Volatility all the way its learned and bubbles mean it.
When has inflation ever gone away?
40:10 him talking about reading faces and the host face is saying oh shite he is going on and the clock is running out.
I don't agree with the argument that because semi-conductors are in everything, then they are the cause of inflation for all categories, and so they are the source of temporary inflation.
If they are in everything, then it makes sense that general inflation would take the form of a semi-conductor shortage.
Governments need a bogey man for the cause of inflation. Today, it is chips. The real cause of inflation? Government spending, but they can't tell sheeple that.
@@wayneanderson8034 Right but it was Rickards making this argument not the government.
I don't believe they have 70 per cent. I didn't think it was there anymore in Fort Knox.
Yes they have Gold plated led. Bullion.
Precious metals will rise but we have to see US dollar declining and inflation worries increasing. Royalty companies like VOX royalty, Wheaton, Royal Gold are on the up since June
The prices are rising month to month now. Forget about last year.if you multiply last months CPI and add the rest of the basket that should be there its over 10%
The gold price is manipulated to support a failed dollar.
Very true however markets need to be supported for the economy to grow but one can alway choose the path they deem fit. likewise they are many gambling for easy and fast cash.
Yeah, jimmy could not be wronger on this one,a real swing and miss son!
How could he say dump hold if inflation is rising?
is gold a better buy than silver? I cant afford gold but I can sure afford a lot of silver :)
July 1st Goodyear tire is putting their tires up 12%
That's because of unions are giving themselves raises must be nice eighty-eight percent of population can't do that
How could he say dump gold if inflation is rising?
JIM RICKARDS = GENIUS !!!!
That is because you don't know about.. Peter Shiff podcast on you tube.
You would think that the closing of the gold window, and all of the redemption prior, could have prevented inflation if they simply destroyed the paper dollars that were redeemed for the gold, instead of releasing the paper bills back into circulation
Your local bank doesn't have your money or the gold to back it up, get your money out of the bank before they go to negative interest rates, lol.
A 42 minute advertisement for ABC Bullion .
Smart beautiful Aussie redhead asking great questions… I love it…
The price of a product can stay the same but the amount you get decreases. It's called Shrinkflation and the Government number don't account for this.
Subscribed
Tuition is down? Down to $50,000 a year
Smart man !
THUMBS DOWN: please coach your guests to use a headset for better audio.
Hay Shae, sorry you left The Daily Reckoning ☹️
Crap I thought we were at a gold bottom. Everytime we see a mass avertizements For gold the market is at the top.
Smartest comment on here. We could have some way to go...
Monetary debasement coupled with a crippled supply chain and endless stimmy checks (which perpetuates the employee shortage) is why prices are going up.
All of those are “inflationary forces”. It’s not complicated.
If you look at nearly every single city/town in North America they had serious unsustainable debt pre covid and lower tax collection in 2020 2021. If we do not see housing inflation "growth" then cities have to resort to hiking taxes and or making cuts (that could harm property value). If we see deflation it could impact stocks and retirement accounts. Falling prices could result in hoarding cash waiting for prices to fall further. Prices over 50+ years have only steadily climbed. Housing is up, health care is up (some covered by insurance or the govt) education costs are up. Electronics prices are going up even pre chip shortage (Graphics card shortages thanks to crypto mining) demand for copper and silver etc are rising for a green energy shift driving up the cost. OECD tax hike on tech companies likely to be passed on. Wages rents taxes do not fall easily.
Rules of money are changing, better change with it
Gold
consumer electronics are not a good indicator of inflation. Of course a Galaxy S4 is cheaper today than it was 6 years ago, but it is not relevant today with it's technological capacity... I notice EVERYTHING up in my life. The price of socks are something bought every few years and is not relevant.
Question.... do you really think the auto dealers are going to lower prices when they get semiconductors knowing we'll pay 20% more willingly?
Also, 22:51.... I don't agree with the demographics issue. Automation and production elsewhere will pick up the slack.
Time to go buy more oz
If I was country is ask jjimfor advice as individual investor na
For the first time in the history of the PLANET the median price for a new car has hit $40,000. Tell me more about “base effects!”
Jim your talking bout supply-demand inflation we are talking about monetary inflation all this printing making my lives savings worth less aka purchasing power
I disagree with Richards on his inflation perspective - the bottom line is that no one can calculate inflation- supply / demand drives prices. High demand, low supply, higher freight costs, supply chain slowdown = higher prices
wait why is deflation is good for gold prices? I thought gold prices thrives when there is alot of real inflation.