Jim Rickards: Put on Your Crash Helmets – New Banking Meltdown Could Snowball into Global Crisis

23/01/2024 | Categories: News | Published by: Bitcoin Live Casinos Team

Jim Rickards, the acclaimed author of Currency Wars: The Making of the Next Global Crises, warns that the utilization of the $300 billion Russian assets will “destroy the U.S. Treasury market.” In a conversation with Daniela Cambone, Rickards delves into the intricacies of the correlation between the unemployment rate and inflation, as depicted by the Phillips curve, cautioning that this relationship can be misleading. He emphasizes that “employment is a lagging indicator” because employers strive to avoid layoffs until desperation sets in. According to Rickards, the challenge is that by the time unemployment rises, indicating an impending recession, rate cuts may be too late.

On the waning dominance of the U.S. dollar and the rising influence of BRICS, Rickards suggests that the dollar can handle the “dirty work,” allowing the new BRICS currency to enjoy a “free ride on the dollar.” In conclusion, Rickards anticipates a positive trend for gold in 2024. For more insights from Rickards, watch the video.

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📖 CHAPTERS:
00:00 Recession and soft landing
4:00 Economic situation
5:47 Fed and political
10:44 Political election
17:42 U.S. dollar/Russian
24:41 BRICS
31:47 Banking crisis
34:22 Bitcoin
36:57 Gold

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