In spite of how everyone is frig-htened and calling the crash, there is already an excessive amount of demand waiting to absorb it, which is another reason it's less likely to happen that way. This forecast was not made in 2008, at least not by the general public, as I will explain below. The own-ership rate peaked in 2004, according to the other comment. We reached a peak in the second quarter of 2020 and are currently at the median level. From 2008 to 2012, it fell by 3%, and in the second qua-rter of 2020, it dropped from 68 to 65.
Every day we have a new problem. It's the new normal. At first we thought it was a crisis, now we know it's a new normal and we have to adapt. this year will be a year of severe downfall. what steps can we take to generate more income during quantitative adjustment?I can't afford my hard-earned $180,000 savings to turn to dust
@@devereauxjnr The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
@@freedomisEexpensive-08 I can honestly relate. It's not as easy as it may sound and requires some sacrifices but it is definitely rewarding. I don't know if I am permitted to go into details here, but her name is NICOLE DESIREE SIMON. Was in the news a lot in 2018. You may look her up for more.
@@MrGravity304 Thank you for this tip, NICOLE appears to be quite knowledgeable. After coming across her online page, I thoroughly went through her resume and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.
Great gratitude for the opportunity to watch this lovely, truthful conversation. Most of the time I feel I'm in an elevator stuffed with dozens of flatulent nabobs. Whenever conversations like yours appear, suddenly the elevator doors open and I'm transported to crystal clear heights infused with beautiful colors and the freshest of air. So thank you both kindly.
Jim Rickards makes informative, analytical, cogent and enlightening arguments about the global economy. He is one of the best thinkers on our economic and monetary systems.
Jim, great book. I love hoe you give the roadmap on how to move from inflationary investments to deflationary investments. Thank you for the great advice in troubling times. I have put together my investment run book using your advice.
I am a bitcoiner, for reasons I won't get into, but I would really like to thank Jim for fighting the left woke agenda with real intelligence, I wish we could have people like Jim running our society!!!, thanks Keith for the interview, FTX was definately a mole
I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year... Investment should always be on any creative man's heart for success in life.
I agree with you and believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don't know who agrees with me but either way I recommend real estate or crypto and stocks.
Yeah!! It would be more beneficial and yield more profit if you actually trade on cryptocurrency, I've been trading since the dip, I've made so much profit trading.
trading is easier with proper guidance, especially from a professional, Newbies who are not aware of how crypto truly works and wish to make profits from it, I would advise to invest with a professional like Fergus waylen, It helps secure and minimize the possibilities of losses.
Even with the current dip in crypto currency's I'm glad I can smile 🙂back at my portfolio of $78,160 built from my weekly trading I have received my sixth withdrawal which is every 14 business days per trade all thanks to my Advisor fergus Waylen
Investing in assets is the code for having a successful financial life, investing with the right expert would free you from modern financial slavery. Investing in crypto now is really cool especially with the current price in the market for now
@Johanna Franklin The fluctuations of the market only affect those that hodl coins, but traders makes money on both sides, when it's bearish they go short when it's bullish they go long... The best strategy to use in trading crypto is to trade with a professional, like Fergus waylen he understand the market quite well, that way maximum profits are guaranteed.
I'm honestly surprised that this name is being mentioned here, I stumbled upon one of his clients testimony last two months in CNBC world news and decided to try him out...I'm Expecting my third cashout in 2days
I have also been trading with him and the profits are secured and over a 100% return on investment directly sent to your wallet. Lack of trade discipline is the primary reason for in day trade losses. It is estimated that nearly 80-85% of day traders end up losing money in the stock market
Top Notch guest, top notch interview, you just got my subscription Keith. Now, I'm no one important but I've immersed myself in economics for the last year and lately I've been deleting subscription, so being added right now means really good content.
I work for a large automotive manufacturer and they have reduced head count by 50% already since 2019. More reductions are coming. "Many people in the world have been living beyond their means, and many people in the world barely have enough to live on. So this is creating a great unstable situation. Meanwhile, there has been a raft of corruption and mismanagement, driving whole nations into greater economic instability. So now there is a decline and a contraction...you are facing a world of declining resources, a world of changing and violent weather, a world where food production and the availability of water will diminish, a world where a growing humanity will have to drink from a slowly shrinking well." ~ A quote from The Coming Finacial Storms found on The New Message site. A must read!
well, it's a good starting point for telling what's coming up next: *bringing in the transparency of the complete added value web (=the sum of all supply chains) via the introduction of DBDC* ... status & trend of all resources within the system in real-time ... I do have such a feeling, that China will be quicker in collecting these data - and it will be "hard" to catch them if their ai for optimizing resource allocation accelerates and accelerates based on this data...
I have some anecdotal economic information I've been delivering doordash for about a little over 4 years I do it full-time I averaged 160 to 210 deliveries a week. Over the last 4 weeks my income my gross revenue has dropped 15 to 20% I work 60 to 90 hours a week I asked the restaurant owners how businesses they're saying it's slowing down in the orders are getting smaller hence my orders are getting smaller on my income is getting it is declining also the percentage of my gross revenue coming from tips has dropped from an average of 55 to 58% to 51%. People are running out of money and credit lines. I'm still getting Supermarket shopping orders from affluent areas and Pharmacy orders but it's declining. I'm hoping to start getting liquor orders which should compensate for the decline somewhat as depressed on and underemployed people stay home and drink their troubles away
One of the requirements for getting an advanced economics degree should be that you have to start and operate a small business at a profit for one year. Decide on the business get all the permits and all the supply chains and everything and make a profit
Financial markets will collapse even without crypto collapse contagion because their leveraged investments rely on expanding economies. Economies are fully energy dependent and energy production is declining significantly. We shouldn't worry about going broke as that is a given. We need to worry about growing enough food to survive.
Hedera has actual use cases and the founder comes from an actual programming background. It is one of the few projects that did not go to infinity and beyond. Because their focus was doing their jobs not making a profit. A profit through hype does not give you any substance or profitable company. Hedera was put together by men who focused on making a real change in how things are done. This gives a real world application to build on. Which is what value it actually gives and has for the world
I feel like they don’t see the picture, the internet is its own world. Right now the internet is control by these giant companies (Apple, Microsoft, etc). Crypto makes the internet decentralized & transparent , most importantly it gives ownership to the users. Invest in crypto with actual utility & you’ll be fine. He’s just generalizing the whole crypto industry by calling it casino coins because of a few bad apples with no utilities like Shiba Inu.
Great interview! However, I was surprised that Jim failed to mention the release of the $1.9 trillion stimulus package with virtually no goods available to meet the demand.
That quote from Matthew is about the unearned. Only the Devil offers you something for nothing, which is a lie because there is always a price to be paid, you will pay one way or another....
it really is sad that Ricards does not understand that BTC Bitcoin is not Luna , is not Solana, it is not crypto! Bitcoin is the only asset that does not need a counterparty. and all these guys talk about is counterParty defaults. in other words, centralized systems are all corrupt - yet they still believe in them. they are just stupid to believe the centralized current systems will survive it may takes decades but Bitcoin will win out. if it doesnt we will all be slaves to the system
Hello Mr Rickards. I am a massive fan of yours and have been itching to buy your latest book which I cannot access here in Australia until today (8th December). Please keep posting and sharing your insights. In a world gone mad it is welcome indeed to have access to information which cuts through the bullshit.
I want to make it clear that my criticism of Jim Richards below is NOT about politics, if that's how you read it. It's about hm stating as truth totally illogical and unsupported ideas just because he likes this viewpoint. I think he's smarter than that, so that makes me mistrust him. It is not critical thinking to just agree with someone who has said smart things in the past, when he is now going a different direction. I now trust Peter Zeihan a lot more.
Peter Zeihan? Peter has become a mouth piece for the State department. His recent book was really good, but his RUclips is like he is getting his talking points directly from Victoria Nuland. If Russia ever had Ukraine 100% occupied, Peter would probably say Russia is on the retreat.
@@CurtisMoe Like many other pundits (including Jim Rickards), Zeihan gets excerpted on clickbait sites that do not convey his research. You need to go directly to his channel, and if you don't understand the long-term logic then replay some of his in-depth presentations to various industry groups and/or interest groups. He is definitely not parroting the State Dept. or Victoria Nuland (whoever she is). And he still says he doesn't know how the Ukraine war will turn out. He says the current Russian Army mess could be fixed if they have any ability to learn from their mistakes. I actually doubt it, since the Kleptocracy is deeply entrenched from Putin on down.
Crazy because the value add from bitcoin is far beyond other intangible services like insurance. To measure the value bitcoin adds, find the difference between a world with sound money vs our current world. Theres trillions in value there.
He always pokes fun at Warren Buffet saying that gold doesn't produce anything or have a "return," and Rickards is right in that case: it's not supposed to produce; it's supposed to be money. So why does he have such a problem understanding that with Bitcoin? Who cares that it isn't used to buy coffee? Gold is not either. You just need enough confidence and people who want it, and the price is the price. Gold can stay locked in vaults forever or shot into space if the ledger is accurate and honest; the physical transportation and ownership would be unnecessary, and it is an inconvenience. That's the purpose and/or value of Bitcoin.
I work in a factory, every one in the factory where all pro crypto, In March of 2022 I talked my entire family into cashing in all our pension plans and purchase gold and silver bullion. Well, they, the guys at work, laughed at me, but we still have all our money. I saw one of the guys from work tonight, he's lost everything in crypto, his advice to everyone in the room was buy crypto. Of course it was, if people don't buy the price goes down further, he loses more. I'm not happy about this, I begged him in March to buy some Gold and silver, again, he laughed at me. So here we are and he's doubling down with what he has left, we'll see what happens.
You took fake money and bought a hard asset. So good move. Your friend took his fake money and bought faker money. Aka not a hard asset bad move Keep buying gold and other hard assets. You will do well .
Jim’s telling porky pies here I can assure folks he NEVER said UK would vote to leave He was as surprised as anyone Even in the day he ways saying how Cameron made a boo boo Cmon Jim don’t be naughty
Thanks gents for awesome context to 2023 choices even from our emerging market bias here in South Africa. Perhaps a quarterly reflection on market truths will assist us mere mortals to beat mainstream narrative driven speculation, this hear.
Rickards is brilliant but this is the challenge we all face. He talked about crypto and FTX and he mentioned having a handle on crypto and bitcoin yet never mentions bitcoin again. I’m sure he would bring great insight into bitcoin. Did he write it off too soon? Lumped it in with crypto? Anyone with access to Rickards, please beg him to dive deeper into bitcoin, his knowledge applied to bitcoin would truly bridge the gap to institutions and even quite possibly government.
I agree BTC is not like a stock underlying a tangible good or service. Instead, it is more like fiat currency, based on a leap of faith, a cloud of hope. As long as it works, it’s all good. Ironically, BTC is denominated in fiat currency.
Broken clock is right twice a day. These 2 have been calling for the collapse of crypto forever. SBF was a fraud no doubt but doesn’t mean the whole industry is a scam. Gold is still flat despite all the liquidity. Almost parallels BTC
As much as I hate seeing people losing everything, I'm actually enjoying the fact that most the commenters will be financially destroyed in a year, probably less. They are all leftists and I'm going to enjoy it.
The fact you two are having this open, frank convo tells me more than the annoying paradigm e-mails which, frankly, are annoying my love of the rose !! Buffett bomb is telling you where to be invested. As to the non-oil reserves you are still dancing with the truth - BOTH of you !!
Someone just bought a house in Mexico for 5 Bitcoins. Microsoft takes it as do many other companies. Bitcoin is controlled by mathematics: the main alternative is controlled by elite dishonest politicians and bankers. I choose math, but Bitcoin (BTC), not shitcoins or unlimited government currencies which always lose purchasing power.
FYI: I saw Darius Day @ Dennys the other day… Damn, I had no idea, what a awesome waiter, he only screwed up our desert order the rest was flawless…You trained him well…Congrats
I LIKE RICKARDS, HE DOES BUTTER HIS OWN TOAST ALOT BUT VERY SMART GUY. I REALLY BELIEVE IN BOTH GOLD AND BITCOIN MYSELF. I SEE THE DEBATE POINTS ON EACH SIDE BUT ALL THE SMART INVESTMENT BRAINS THAT BELIEVE IN BITCOIN ARE JUST TO MANY TO IGNORE!!
00:43:45 Rickards: "Globalization . . . . supply chains . . . . stretched thin . . . . frail, as you know from complexity theory if it breaks in one little place, the whole supply chain breaks down". Rickards has his complexity theory backwards. Complex systems are adaptive, redundant, and robust to perturbations. He is describing a complicated, fragile, non-complex supply chain wherein everyone relies on the same few, cheapest suppliers.
Math. Say that my marginal edge gives me a 50 50 shot at any trade. I've had 2 good trades in a row, so my next trade is going to have a one in 8 chance of success. How is that problem set re-issued to bring back first trade odds? Trade 10 shares of something cheap until you get three losses then go big on the fourth? Do I re-impersonate from another account to reset, the odds? Bone head questions? IDK, I am an autodidact after all, and my teacher is uneducated.
I get it. We hold gold and hope things don't collapse too badly. Just enough so we can still be safe when using it to go shopping. Takeaway is to invest in a Knights Templar style gold bank. I give the bank my gold to hold and they give me notes to spend that are redeemable for gold at the bank...shit. There is little comfort in all this.
In spite of how everyone is frig-htened and calling the crash, there is already an excessive amount of demand waiting to absorb it, which is another reason it's less likely to happen that way. This forecast was not made in 2008, at least not by the general public, as I will explain below. The own-ership rate peaked in 2004, according to the other comment. We reached a peak in the second quarter of 2020 and are currently at the median level. From 2008 to 2012, it fell by 3%, and in the second qua-rter of 2020, it dropped from 68 to 65.
Every day we have a new problem. It's the new normal. At first we thought it was a crisis, now we know it's a new normal and we have to adapt. this year will be a year of severe downfall. what steps can we take to generate more income during quantitative adjustment?I can't afford my hard-earned $180,000 savings to turn to dust
@@devereauxjnr The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
@@MrGravity304 How can I reach this adv-iser of yours? because I'm seeking for a more effective invest-ment approach on my savings
@@freedomisEexpensive-08 I can honestly relate. It's not as easy as it may sound and requires some sacrifices but it is definitely rewarding. I don't know if I am permitted to go into details here, but her name is NICOLE DESIREE SIMON. Was in the news a lot in 2018. You may look her up for more.
@@MrGravity304 Thank you for this tip, NICOLE appears to be quite knowledgeable. After coming across her online page, I thoroughly went through her resume and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.
How wonderful to have articulate and cogent adults discussing important issues.
Agree.
Great gratitude for the opportunity to watch this lovely, truthful conversation. Most of the time I feel I'm in an elevator stuffed with dozens of flatulent nabobs. Whenever conversations like yours appear, suddenly the elevator doors open and I'm transported to crystal clear heights infused with beautiful colors and the freshest of air. So thank you both kindly.
Don't let them fool you. They have more crypto than you do.
Jim Rickards is one of my favorite people to listen to, brilliant mind!
CIA stooge
Great, Great interview. Jim Rickards is a financial genius and a honest one at that.
he was the compliance officer with Long Term Capital... when it blew up the financial markets.... not a genius.
"Any opinion is believable, if you have no knowledge" - Keith McCullough
Very relevant today ☝️✌
Well said. Believability must never be used in place of validity! 6:49
✊🏾🔥💯
@@melznutz3313 jjjjjjjjjjjjkkukjjjjkjjjjjjjjkjjjj
Well said
breath of fresh air. thank you both
Jim is the real deal. Rolls Royce of a mind.
Are you sure, people from New Jersey are not usually that intelligent?
Jim Rickards makes informative, analytical, cogent and enlightening arguments about the global economy. He is one of the best thinkers on our economic and monetary systems.
Great content! Thank you Keith for having Jim as your guest he's terrific! Keep up the good work.
I love listening to Jim Rickards. He has interesting and valuable knowledge from the institutional side of the fence.
Jim, great book. I love hoe you give the roadmap on how to move from inflationary investments to deflationary investments. Thank you for the great advice in troubling times. I have put together my investment run book using your advice.
I am a bitcoiner, for reasons I won't get into, but I would really like to thank Jim for fighting the left woke agenda with real intelligence, I wish we could have people like Jim running our society!!!, thanks Keith for the interview, FTX was definately a mole
I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year... Investment should always be on any creative man's heart for success in life.
I agree with you and believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don't know who agrees with me but either way I recommend real estate or crypto and stocks.
Yeah!! It would be more beneficial and yield more profit if you actually trade on cryptocurrency, I've been trading since the dip, I've made so much profit trading.
I am interested to know more and invest in Crypto please
trading is easier with proper guidance, especially from a professional, Newbies who are not aware of how crypto truly works and wish to make profits from it, I would advise to invest with a professional like Fergus waylen, It helps secure and minimize the possibilities of losses.
I'm honestly surprised that this name is being mentioned here, I stumbled upon one of his clients testimony last week in CNBC world news
I just got two copies of Sold Out for Xmas presents for my grandson and son. You guys work well together. Thanks for all the information.
Excellent Interview, Thank you
Never watched this channel before but Jim Rickards…❤️ You just earned yourself a new subscriber. 👍🏻
Even with the current dip in crypto currency's I'm glad I can smile 🙂back at my portfolio of $78,160 built from my weekly trading I have received my sixth withdrawal which is every 14 business days per trade all thanks to my Advisor fergus Waylen
Investing in assets is the code for having a successful financial life, investing with the right expert would free you from modern financial slavery.
Investing in crypto now is really cool especially with the current price in the market for now
@Johanna Franklin The fluctuations of the market only affect those that hodl coins, but traders makes money on both sides, when it's bearish they go short when it's bullish they go long... The best strategy to use in trading crypto is to trade with a professional, like Fergus waylen he understand the market quite well, that way maximum profits are guaranteed.
I'm honestly surprised that this name is being mentioned here, I stumbled upon one of his clients testimony last two months in CNBC world news and decided to try him out...I'm Expecting my third cashout in 2days
I have also been trading with him and the profits are secured and over a 100% return on investment directly sent to your wallet.
Lack of trade discipline is the primary reason for in day trade losses. It is estimated that nearly 80-85% of day traders end up losing money in the stock market
@Jo se Please how can I contact Mr fergus ? I really like what he has done for you, and I also want to benefit from it.
Top Notch guest, top notch interview, you just got my subscription Keith. Now, I'm no one important but I've immersed myself in economics for the last year and lately I've been deleting subscription, so being added right now means really good content.
I work for a large automotive manufacturer and they have reduced head count by 50% already since 2019. More reductions are coming. "Many people in the world have been living beyond their means, and many people in the world barely have enough to live on. So this is creating a great unstable situation. Meanwhile, there has been a raft of corruption and mismanagement, driving whole nations into greater economic instability. So now there is a decline and a contraction...you are facing a world of declining resources, a world of changing and violent weather, a world where food production and the availability of water will diminish, a world where a growing humanity will have to drink from a slowly shrinking well." ~ A quote from The Coming Finacial Storms found on The New Message site. A must read!
Fantastic job interviewing Jim. I think this is his best interview.
well, it's a good starting point for telling what's coming up next:
*bringing in the transparency of the complete added value web (=the sum of all supply chains) via the introduction of DBDC* ...
status & trend of all resources within the system in real-time ...
I do have such a feeling, that China will be quicker in collecting these data - and it will be "hard" to catch them if their ai for optimizing resource allocation accelerates and accelerates based on this data...
I have some anecdotal economic information I've been delivering doordash for about a little over 4 years I do it full-time I averaged 160 to 210 deliveries a week. Over the last 4 weeks my income my gross revenue has dropped 15 to 20% I work 60 to 90 hours a week I asked the restaurant owners how businesses they're saying it's slowing down in the orders are getting smaller hence my orders are getting smaller on my income is getting it is declining also the percentage of my gross revenue coming from tips has dropped from an average of 55 to 58% to 51%. People are running out of money and credit lines. I'm still getting Supermarket shopping orders from affluent areas and Pharmacy orders but it's declining. I'm hoping to start getting liquor orders which should compensate for the decline somewhat as depressed on and underemployed people stay home and drink their troubles away
One of the requirements for getting an advanced economics degree should be that you have to start and operate a small business at a profit for one year. Decide on the business get all the permits and all the supply chains and everything and make a profit
There would definitely be a lot less people with "Advanced Economics Degrees".
Thanks Keith and Jim for actual truth, I really appreciate it.
Fantastic interview. I always tune in if Rickards is being interviewed
Financial markets will collapse even without crypto collapse contagion because their leveraged investments rely on expanding economies. Economies are fully energy dependent and energy production is declining significantly. We shouldn't worry about going broke as that is a given. We need to worry about growing enough food to survive.
Thanks for having Jim.
Jims always good value, evidence backed information and ideas on how to tackle the issues.
Well done gents. I just bought Jim's book.
Hedera has actual use cases and the founder comes from an actual programming background.
It is one of the few projects that did not go to infinity and beyond. Because their focus was doing their jobs not making a profit. A profit through hype does not give you any substance or profitable company.
Hedera was put together by men who focused on making a real change in how things are done. This gives a real world application to build on. Which is what value it actually gives and has for the world
I feel like they don’t see the picture, the internet is its own world. Right now the internet is control by these giant companies (Apple, Microsoft, etc). Crypto makes the internet decentralized & transparent , most importantly it gives ownership to the users. Invest in crypto with actual utility & you’ll be fine.
He’s just generalizing the whole crypto industry by calling it casino coins because of a few bad apples with no utilities like Shiba Inu.
Jim Rickards is the smartest man he's ever met. Same guy who said and wrote book about how we would be in deflation over the last 2 years
if fiat/fraud/dollar printer was broke, we were.
@@smsmoof8128 if I had a billion dollars I'd be a billionaire. Your point?
Always wonder why Keith has him on. Mr. Rickards has never published his trading record nor have many of his predictions come true: gold to $10,000.
@@matthewbrodsky8183 but he's worked with CIA lol
Many thanks for this. Two sensible voices in the forest amidst so much noise
Great interview! However, I was surprised that Jim failed to mention the release of the $1.9 trillion stimulus package with virtually no goods available to meet the demand.
Stooge of CIA
That quote from Matthew is about the unearned. Only the Devil offers you something for nothing, which is a lie because there is always a price to be paid, you will pay one way or another....
Great interview, truthful and realistic conversation of actual events that happened, which everyone still ignore!
Excellent conversation. Thanks
An intellectual feast, thank you!
Jim’s always right….just sometimes 20
Years out
Same as Peter Shiff, but less obnoxious.
doesnt know the first thing about cryptoes...
Very interesting discussion indeed, a lot of food for thought for someone like me who does not have an economic background.
I don't feel Rickards understands the specifics of Bitcoin versus crypto.
But I love this interview nonetheless
He understands nothing of Bitcoin or he would know it's the technical solution to everything broken with money.
it really is sad that Ricards does not understand that BTC Bitcoin is not Luna , is not Solana, it is not crypto! Bitcoin is the only asset that does not need a counterparty. and all these guys talk about is counterParty defaults. in other words, centralized systems are all corrupt - yet they still believe in them. they are just stupid to believe the centralized current systems will survive it may takes decades but Bitcoin will win out. if it doesnt we will all be slaves to the system
Agree, and its so sad to listen to him declare himself a winner in every imagined debate. Worse than Schiff!
Waiting for my Sold Out to arrive!
Every moment is dense, interesting and Jim is underated.
@@davet11 No Bud. d
Dense as in lots of meat, few potatoes as opposed to what most financial web stuff is…
Thanks so much. Highly intelligent on a blue collar level.
Hi Keith, How can I get Mr. Richards to sign the book he wrote. Do you know if he is doing a book signing? Hes the best!
Hello Mr Rickards. I am a massive fan of yours and have been itching to buy your latest book which I cannot access here in Australia until today (8th December). Please keep posting and sharing your insights. In a world gone mad it is welcome indeed to have access to information which cuts through the bullshit.
I want to make it clear that my criticism of Jim Richards below is NOT about politics, if that's how you read it. It's about hm stating as truth totally illogical and unsupported ideas just because he likes this viewpoint. I think he's smarter than that, so that makes me mistrust him. It is not critical thinking to just agree with someone who has said smart things in the past, when he is now going a different direction. I now trust Peter Zeihan a lot more.
Peter Zeihan? Peter has become a mouth piece for the State department. His recent book was really good, but his RUclips is like he is getting his talking points directly from Victoria Nuland.
If Russia ever had Ukraine 100% occupied, Peter would probably say Russia is on the retreat.
@@CurtisMoe Like many other pundits (including Jim Rickards), Zeihan gets excerpted on clickbait sites that do not convey his research. You need to go directly to his channel, and if you don't understand the long-term logic then replay some of his in-depth presentations to various industry groups and/or interest groups. He is definitely not parroting the State Dept. or Victoria Nuland (whoever she is). And he still says he doesn't know how the Ukraine war will turn out. He says the current Russian Army mess could be fixed if they have any ability to learn from their mistakes. I actually doubt it, since the Kleptocracy is deeply entrenched from Putin on down.
Excellent analysis. Thanks.
Great conversation! Thank you guys
Crazy because the value add from bitcoin is far beyond other intangible services like insurance. To measure the value bitcoin adds, find the difference between a world with sound money vs our current world. Theres trillions in value there.
He always pokes fun at Warren Buffet saying that gold doesn't produce anything or have a "return," and Rickards is right in that case: it's not supposed to produce; it's supposed to be money. So why does he have such a problem understanding that with Bitcoin? Who cares that it isn't used to buy coffee? Gold is not either. You just need enough confidence and people who want it, and the price is the price.
Gold can stay locked in vaults forever or shot into space if the ledger is accurate and honest; the physical transportation and ownership would be unnecessary, and it is an inconvenience. That's the purpose and/or value of Bitcoin.
I could do a 24 hour marathon of this
Excellent discussion Gentlemen
Excellent report
Based Rickards
He is so right about the paper fold, NJ Transit rider to NYC, Love Jim
Is the etiquette the same on the bus as the train?
I work in a factory, every one in the factory where all pro crypto, In March of 2022 I talked my entire family into cashing in all our pension plans and purchase gold and silver bullion. Well, they, the guys at work, laughed at me, but we still have all our money. I saw one of the guys from work tonight, he's lost everything in crypto, his advice to everyone in the room was buy crypto. Of course it was, if people don't buy the price goes down further, he loses more. I'm not happy about this, I begged him in March to buy some Gold and silver, again, he laughed at me. So here we are and he's doubling down with what he has left, we'll see what happens.
You took fake money and bought a hard asset. So good move.
Your friend took his fake money and bought faker money. Aka not a hard asset bad move
Keep buying gold and other hard assets. You will do well .
I agree. If someone seriously claims to have found Eldorado why would you be telling anyone? Classic ponzi.
Jim’s telling porky pies here
I can assure folks he NEVER said UK would vote to leave
He was as surprised as anyone
Even in the day he ways saying how Cameron made a boo boo
Cmon Jim don’t be naughty
CIA stooge
great conversation!
Thanks gents for awesome context to 2023 choices even from our emerging market bias here in South Africa. Perhaps a quarterly reflection on market truths will assist us mere mortals to beat mainstream narrative driven speculation, this hear.
Bitcoin is Immutable Truth and it's exchange is Empathy. Everything else is an opinion of a competition of that, with magnitudes of flaws.
Thank you Gentlemen an excellent interview.
What if petrol is no longer sold in Dollars?!!
KM so lucky man
Anyone who goes broke on FTX deserves it
Rickards is brilliant but this is the challenge we all face. He talked about crypto and FTX and he mentioned having a handle on crypto and bitcoin yet never mentions bitcoin again. I’m sure he would bring great insight into bitcoin. Did he write it off too soon? Lumped it in with crypto? Anyone with access to Rickards, please beg him to dive deeper into bitcoin, his knowledge applied to bitcoin would truly bridge the gap to institutions and even quite possibly government.
This is very interesting, but very long. I have had to pause a lot during the broadcast to do other things.
So Jim, what is the diffence between crypto and fiat currency? Is SBF just another govt
I agree BTC is not like a stock underlying a tangible good or service. Instead, it is more like fiat currency, based on a leap of faith, a cloud of hope. As long as it works, it’s all good. Ironically, BTC is denominated in fiat currency.
Jim, I went to putchase your book and I tought it was sold out. LOL. Great title bad marketing cover. I am also slow.
Ben Franklin really knows what he’s talking about
Broken clock is right twice a day. These 2 have been calling for the collapse of crypto forever. SBF was a fraud no doubt but doesn’t mean the whole industry is a scam. Gold is still flat despite all the liquidity. Almost parallels BTC
Russian Sber bank’s issuing digital assets based on gold. Probably some gold/ecoin combo will be built out.
Lots of competent and necessary information, that "bull market geniuses" fail to heed.
Ben Franklin has some profound thoughts.
Corruption an insider trading and Communist and Islamic cults is the problem
As much as I hate seeing people losing everything, I'm actually enjoying the fact that most the commenters will be financially destroyed in a year, probably less. They are all leftists and I'm going to enjoy it.
Chinese influence on financial markets. Sam Bankman-Fried and Volodymyr Zelenskyy are both Jewish.
This tool has been talking about the collapse for the last decade. I'm sure it's made him some money
RIP: "You want to fight someone fight me, I'll fight you all day long", says me to Scheckerl.
Yeah but i was in Edinburgh and most didn’t want to leave, after talking to your guides, can drivers, restaurant workers, etc.
Why isn't SBF in jail?
I remember seeing on TV , shelves a shelves in Soviet union supermarkets EMPTY , just before the USSR colaps.!!!!
Brilliant enough said
The fact you two are having this open, frank convo tells me more than the annoying paradigm e-mails which, frankly, are annoying my love of the rose !! Buffett bomb is telling you where to be invested. As to the non-oil reserves you are still dancing with the truth - BOTH of you !!
Someone just bought a house in Mexico for 5 Bitcoins. Microsoft takes it as do many other companies. Bitcoin is controlled by mathematics: the main alternative is controlled by elite dishonest politicians and bankers. I choose math, but Bitcoin (BTC), not shitcoins or unlimited government currencies which always lose purchasing power.
FYI: I saw Darius Day @ Dennys the other day… Damn, I had no idea, what a awesome waiter, he only screwed up our desert order the rest was flawless…You trained him well…Congrats
I LIKE RICKARDS, HE DOES BUTTER HIS OWN TOAST ALOT BUT VERY SMART GUY. I REALLY BELIEVE IN BOTH GOLD AND BITCOIN MYSELF. I SEE THE DEBATE POINTS ON EACH SIDE BUT ALL THE SMART INVESTMENT BRAINS THAT BELIEVE IN BITCOIN ARE JUST TO MANY TO IGNORE!!
What's the name of the book you mention at minute 2:30 or so ?
Crypto is better than gambling
00:43:45 Rickards: "Globalization . . . . supply chains . . . . stretched thin . . . . frail, as you know from complexity theory if it breaks in one little place, the whole supply chain breaks down".
Rickards has his complexity theory backwards. Complex systems are adaptive, redundant, and robust to perturbations. He is describing a complicated, fragile, non-complex supply chain wherein everyone relies on the same few, cheapest suppliers.
The very concept underpinning capitalism is that markets are efficient. Interesting admission.
Thank you!
17:44 yaaass! They needed all that money printing to do it. Absolutely agree.
Excellent.
Great discussion. Why can't these smart people push the stupid ones out of the way and help NOT crash the system?
It's too far gone
Do you think we still live in a merit based world in the West?
@@pulsarlights2825 I mean...I had hoped.
Remarkable man who would be positively remarkable if he actually understood BTC
I had a meeting in Los Alamos.... sounds legit.
I think the gentleman at the end question was meaning will we see another situation like the great depression, like bread lines everywhere?
Math. Say that my marginal edge gives me a 50 50 shot at any trade. I've had 2 good trades in a row, so my next trade is going to have a one in 8 chance of success. How is that problem set re-issued to bring back first trade odds? Trade 10 shares of something cheap until you get three losses then go big on the fourth? Do I re-impersonate from another account to reset, the odds? Bone head questions? IDK, I am an autodidact after all, and my teacher is uneducated.
Was this filmed in 2002?
The global economy isn't' ours. It's global finances'. 'Our' economies are not global.
I get it. We hold gold and hope things don't collapse too badly. Just enough so we can still be safe when using it to go shopping. Takeaway is to invest in a Knights Templar style gold bank. I give the bank my gold to hold and they give me notes to spend that are redeemable for gold at the bank...shit. There is little comfort in all this.