This post was published at George Gammon
Having worked closely with U. S. intelligence agencies over the last two decades, James Rickards was once asked to simulate asymmetric economic attacks on the U. S. financial system. He is an expert at escalation scenarios and end games, and in a recent article at The Daily Reckoning he warns that the geopolitical situation on the Korean Peninsula will soon come to a head.
According to Rickards, author of The Road To Ruin: The Global Elites Secret Plan For The Next Financial Crisis, while the world concerns itself with stock bubbles, bitcoin and debt, the most imminent threat we face is military confrontation with North Korea.
And while the rogue state has been an ongoing threat for many years, the first half of 2018 will likely see the trigger that sets the whole powder keg off:
The most important financial or geopolitical issue in the world today is a coming war between the U. S. and North Korea, probably in the next twelve weeks.
This post was published at shtfplan on December 26th, 2017.
The US national debt stands at over $21 trillion and neither political party in Washington D. C. seems inclined to do anything about it. In fact, the GOP tax planwinding its way through the political process will add an estimated $1.5 trillion more to the debt over the next decade. And that doesn’t even account for the increases in spending that Congress will certainly approve over that timespan.
Of course, all of this government debt has serious ramifications. Corporations are also piling on credit. Last month, Mint Capital strategist Bill Blain predicted that ‘the great crash of 2018 is going to start in the deeper, darker depths of the credit market.’
Now consider this. China has an even bigger debt problem than the US, and analysts say it could threaten global financial security.
Jim Rickards recently listed a Chinese debt crisis as one of the possible snowflakes that could set off the next financial avalanche. As if on cue, the mainstream has picked up this narrative. As Business Insider reports it:
China’s ballooning levels of debt and dependency on credit to fuel growth continues to pose a major financial stability threat to the global economy, and could be the catalyst for the next crisis, according to the International Monetary Fund.’
This post was published at Schiffgold on DECEMBER 8, 2017.
Loose monetary policy has dumped billions of dollars of easy money into the world’s financial systems over the last eight years, pumping up a whole slew of bubbles. We are still on the upside of the business cycle, with stock markets hitting record levels it seems like on a daily basis. But if history serves as any kind of indicator, a crisis is on the horizon.
What will precipitate it? That’s the proverbial $64,000 question.
Jim Rickards has compared financial crises to an avalanche. Snow piles up becoming increasingly unstable. Eventually, it reaches the point when all it takes is one more snowflake to set off an avalanche.
In a recent column, Rickards highlights three potential ‘snowflakes’ that could set off the next deluge.
Credit Crisis in China
Earlier this month, Mint Capital strategist Bill Blain predicted that ‘the great crash of 2018 is going to start in the deeper, darker depths of the credit market.’ Hearing this, most Americans will immediately think of debt piling up in the US. But Rickards says China is actually in an even bigger credit bubble. He uses an anecdotal story to illustrate this point.
This post was published at Schiffgold on NOVEMBER 30, 2017.
Stewart Dougherty returns with unique insight into the powerful Deep State forces behind the relentless manipulation of gold and silver. He also presents a searing look at Jim Rickards’ deceptive role as the Deep State’s grifter.
‘There are crooks everywhere you look now. The situation is desperate.’ Final blog entry by Daphne Caruana Galizia, 53, renowned Maltese investigative reporter who specialized in exposing state corruption; posted on 16 October 2017, one day before she and her vehicle were blown to bits by a car bomb in Bidnija, Malta
In 2011, gold pulled a ‘Bitcoin’ before anyone even knew what Bitcoin was: its price went vertical to $1,900 per ounce. Inflation-adjusted, the price was still far below its 1980 all-time high, and from all indications, it was going to keep heading north toward its free market print.
In surging, gold blurted out the Deep State Central Planners’ strategy for dealing with the Great Financial Crisis: the hyperinflation of bond, equities and real estate prices via the hyperinflation of both official and totally clandestine, off-the-books money supply, in order to create the hyperinflation of tax revenues desperately required by the government to forestall its fiscal collapse. Gold’s exposure of the Deep State Central Planners’ secret strategy was absolutely unacceptable to them, and had to be stopped.
This post was published at Investment Research Dynamics on November 7, 2017.
Authored by James Rickards via The Daily Reckoning,
Market crashes often happen not when everyone is worried about them, but when no one is worried about them.
Complacency and overconfidence are good leading indicators of an overvalued market set for a correction or worse. Prominent magazine covers are notorious for declaring a boundless bull market right at the top just before a crash or correction.
October 19 saw the thirtieth anniversary of the greatest one-day percentage stock market crash in U. S. history – a 22% fall on October 19, 1987. In today’s Dow points, a 22% decline would equal a one-day drop of over 5,000 points!
I remember October 19, 1987 well. I was chief credit officer of a major government bond dealer. We didn’t have the internet back then, but we did have trading screens with live quotes. I couldn’t believe what I was watching at first, but by 2:00 in the afternoon we were all glued to our screens.
It was like being a passenger on a plane that was crashing, but you had no way out of the plane. Our firm was fine (bonds rallied as stocks crashed), but we were concerned about counterparties going bankrupt and not being able to pay us on our winning bets in bonds.
What’s troubling is that a lot of commentators said that the kind of crash that took place in 1987 couldn’t happen today and that markets were much safer. It’s true that circuit breakers and market closures could temporarily halt a slide better than we did in 1987. But those devices buy time, they don’t solve the underlying fear and panic that causes market crashes.
This post was published at Zero Hedge on Nov 3, 2017.
Authored by James Rickards via The Daily Reckoning,
I write and speak a lot on gold. In contrast – and this surprises some people – bitcoin is my least favorite topic. I’m made my views known many times.
Still, interviewers love to get into the ‘gold versus bitcoin’ debate. I continually get dragged into discussing bitcoin in interviews on TV, radio and the internet. So I discuss it whether I want to or not.
From my perspective, you might as well discuss gold versus watermelons or bicycles versus bitcoin. In other words, it’s a phony debate. I agree that gold and bitcoin are both forms of money, but they go their own ways.
There’s no natural relationship between the two (what traders call a ‘basis’).
The gold/bitcoin basis trade does not exist. But people love to discuss it, and I guess Goldman Sachs is no different.
This post was published at Zero Hedge on Nov 1, 2017.
Financial guru Jim Rickards weighed in on the Bitcoin vs. gold debate and came down firmly on the side of the yellow metal. In fact, he’s said there really shouldn’t be a debate. Bitcoin and gold are two totally different things.
Rickards responded to a recent note published by Goldman Sachs declaring that Bitcoin is not the new gold in a column published at the Daily Reckoning. He said he doesn’t really like talking about Bitcoin and doesn’t think there is any real comparison between the cryptocurrency and gold.
From my perspective, you might as well discuss gold versus watermelons or bicycles versus bitcoin. In other words, it’s a phony debate. I agree that gold and bitcoin are both forms of money, but they go their own ways. There’s no natural relationship between the two (what traders call a ‘basis’). The gold/bitcoin basis trade does not exist. But people love to discuss it, and I guess Goldman Sachs is no different.’
This post was published at Schiffgold on OCTOBER 31, 2017.