Unstoppable Crash Worse than 2008 Coming – James Rickards

Via USA Watchdog

Six-time, best-selling financial author James Rickards says the upcoming book “Sold Out” lays out the case why a huge crash is already a certainty sometime in 2023.  In a nutshell, broken supply chains have already caused big inflation, and the Fed is raising rates to tamp it back down.  On top of the perfect storm of inflation and prolonged supply problems, we have the recent meltdown of the FTX crypto currency exchange.  Rickards says, “It is definitely going to cause sequential collapses in the crypto world, but will it jump the fence into the broader financial world?  My expectation is it will, but it can take six months or more to play out. . . . We probably have an acute global financial crisis coming anyway.  If FTX never existed, I would say we are staring at a worse financial crisis than 2008.  Throw FTX on top of that, and it’s like throwing gasoline on a fire.  It will accelerate the fire.  So, we’re probably going to have problems anyway, but the FTX implosion just makes it worse.”

As far as the dwindling supply chains, Rickards says, “The old supply chain has collapsed.  A new supply chain will emerge, and I talk about that in my book and what it will look like.  Right now, we are in a very messy middle period where things don’t work well.  It’s like a vase.  You knock over a vase, and it breaks into 5,000 pieces.  You can’t put it back together.  You’ve got to go get a new vase.  We broke the vase, and we are shopping for a new one.  We are not there yet.  We are just cleaning up the mess. . . . Russia invades Ukraine.  The Ukrainian plastic conduit factory shuts down, and all of a sudden, the BMW production lines are shut down because they cannot get a part.  Again, this is another example of how this is all falling apart, and it’s not going to be put back together quickly.  There will be a new supply chain, and I call it supply chain 2.0, but we are in that in between time, and it’s going to be just a mess.”

Rickards says the Fed is going to keep raising rates because that is what they keep telling the public.  Rickards says, “They are telling us what they are going to do, and you should believe them.”

Rickards says we do have inflation, and it’s going to be with us for awhile, but we are also going to get deflation too.  Rickards points out, “Why does Warren Buffett and Brookshire Hathaway have $130 billion in cash?  Buffett is one of the greatest investors of all time.  Why isn’t he out there buying stocks?  Again, why does he have $130 billion in cash?  It’s because Buffett sees what I see.  Yes, this thing is going to completely crash.  It’s a really good idea to have cash because you can go shopping in the wreckage and pick up some bargains.  My point is, we don’t have to guess.  Look at the Treasury yield curve.  Look at the euro/dollar futures yield curve.  Look at other metrics, and guess what it looks like?  It looks like 2007.  Everything I am describing, but not quite as extreme by the way, was true in 2007. . . . These euro/dollar futures were behaving then exactly as they are now.  Except now, the inversion is even worse, which means we are in for a worse crisis than 2008.  It’s coming.  Everything I said has nothing to do with FTX.  Throw FTX on top, and as I said, you are throwing gasoline on a fire.”

After the inflation, Rickards says count on big deflation.  He will explain exactly how that happens in the 58-minute interview.

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with six-time, best-selling author James Rickards.  Rickards’ new book “Sold Out” will be coming out in early December.

-----------------------------------------------------
It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal

-----------------------------------------------------
To donate via Stripe, click here.
-----------------------------------------------------
Use promo code ILMF2, and save up to 66% on all MyPillow purchases. (The Burning Platform benefits when you use this promo code.)
Click to visit the TBP Store for Great TBP Merchandise

22
Leave a Reply

avatar
  Subscribe  
Notify of
flash
flash

here weeeee goooo, agaiin…reeeeeeee …sell sell sell.

This incessantly stupid shit cost me a lot of money.

flash
flash

James Rickards sees ‘Currency Wars’ destroying dollar
ByJon Rosen, Special for USA TODAY
December 26, 2011, 6:10 PM

Rickards expects gold to go to $10,000 an ounce as some central banks may have to resort to the gold standard to restore confidence in the markets.
Graham Rapier and Sara Silverstein Dec 1, 2017, 10:29 AM

Jim Rickards: Next Financial Panic Will Be the Biggest of All, with Only One Place to Turn
ANALYSIS | 1/19/2018 5:55:28 PM GMT

Bob P
Bob P

Yup. Every year since the last crash in 2008, everything is guaranteed to crash. Next up is 2023’s turn. None of these idiots know a damn thing. I was stupid enough to believe them the first few years. The entire financial charade will crash some day–that’s just math–and when it does all of these know-nothings, who’ve been wrong every year since 2009, will say, “See? I called it!”

flash
flash

Yet, none of these Deep Shekels pwnd geniuses called the 2008 crash.

He has held senior positions at Citibank, Long-Term Capital Management, and Caxton Associates.[4] As general counsel for the hedge fund Long-Term Capital Management (LTCM),[5] he successfully negotiated the $3.6 billion rescue of the firm via the U.S. Federal Reserve in 1998.[6] Rickards worked on Wall Street for 35 years.[7] Later, Rickards became the senior managing director at Tangent Capital Partners LLC, a merchant bank based in New York City,[8] and also the senior managing director for market intelligence at Omnis, Inc.,[9] a technical, professional and scientific consulting firm in McLean, Va.[3] On March 24, 2009, Rickards presented his view at a symposium at Johns Hopkins University, that the U.S. dollar was facing imminent hyperinflation and was vulnerable to attack from foreign governments through the accumulation of gold and the establishment of a new global currency.[10]

https://en.wikipedia.org/wiki/James_Rickards

Anonymous
Anonymous

In a nutshell, broken supply chains have already caused big inflation

This statement is 100% false. Oil and the purposely engineered supply shortage created inflation. Supply chains have largely been back to normal since early 2021. I work in this industry and we have a shortage of exactly nothing! In fact business is booming like never before.

Anonymous
Anonymous

Price fluctuations based on supply and demand (shortages or gluts) ARE NOT inflation.

Martin
Martin

This statement is 100% false. Excessive Govt. spending on an engineered virus created inflation in the short term. Excessive consumer spending on absurdly large houses created inflation in the long term.

Paleocon
Paleocon

Just more hopium for the let it burn crowd.

The Central Scrutinizer
The Central Scrutinizer

Is it really the “let it burn” crowd? Or have you mistaken them with the “It is written” crowd? Because there’s a YUGE difference between those two crowds. I know. I’ve been in both at various times.

CCRider
CCRider

I’ve been a Rickards fan for quite some time. But recently he’s doing the Agora number where he sends out a constant stream of video come-ons that go on interminably with no way to fast-forward thru the bullshit. When you finally get to the endgame he wants you to send him up to 5 grand to get his investment picks. I know the game. Stockman screwed me 5 years ago with a similar con. I’d rather lose on my own.

Lambone
Lambone

When Rickards came on the scene about the time of the great recession he contributed some fairly good economic analysis for a short time. But then entropy started creeping in and now he’s just another goofball who’s either talking his book or promoting a worthless investment newsletter. He belongs to the same group as those other worthless advisors like Gammon, Armstrong, D Morgan, Mannarino, Slavo, Maloney, Snyder, S. Black, MacLeod, and especially C Martenson. These guys couldn’t forecast their way out of a paper bag.

aka.attrition
aka.attrition

Forecasting … it’s a racket

Anonymous
Anonymous

“The only function of economic forecasting is to make astrology look respectable.” ~ John Kenneth Galbraith

CCRider
CCRider

They bore the shit out of me. We all know mathematically that one day it all crashes (WTF is a quadrillion) but when? It’s all guesswork until one of them stumbles into the truth and proclaims himself to be the new Nostradamus.

flash
flash

Dude, you gotta’ read Michael Snyder…the end is near!

CCRider
CCRider

What a new concept!!! Lordy, Lordy THE END IS NEAR!

Anonymous
Anonymous

1 quadrillion = 0.00156 dingdongdillion, or 1 x 10 to the umpteenth power Gadzookian units

brian
brian

Buy my book and I’ll tell you a story of a crash. The book is all encompassing in details of what to expect. That is until my following book, which is an even greater expose’ on the coming crash and the unmistakable signs.

Hurry while supplies last and if you buy it today you’ll save an extra 15% discount on the accompanying booklet, offered only to book purchasers. It reveals long established secrets of gaining wealth incredibly fast. Order today, don’t miss this exciting one time offer.

bidenTouchesKids
bidenTouchesKids

It’s a really good idea to have cash because you can go shopping in the wreckage and pick up some bargains

If things get that bad, something tells me ammo will become the currency of choice. People won’t be picking up “bargains”, they’ll be grabbing food, water and what they need to survive.

jana
jana

What is going to happen in America is KARMA (karma literlay means MIRROR) the worst will be natural disasters, never before seen.
It is a very good idea to do unto others what you would like done to you, because it does, it is KARMA.
You should be grateful because if you pay this way, you may not have to pay in Hell for your past sins.
Everyone will experience what the peaceful, nations of the middle east went through, when you waged wars on them. Wars they did not want and were not even prepared for.
Wars you should have waged on the antichrist people who HATE them, to defend them against the antichrist people. Instead you sided with the devil.
You committed unforgivable sins for the antichrist people, who want your souls.
Nations that were once joyful and wealthy and there was no poverty.
Like Lybia which was heavenly, lost EVERYTHING.
No food no water, no toilets no gas nor jobs and their family members even babies and children lost parents, so the NWO, illuminati people could take them and drink their blood and worse.
Maimed and broken by war which is Hell, and hundreds of millions of innocent civilians died, they were unlawfully and unjustly imprisoned tortured, raped and had everything they owned stolen from them.
They chose to run and were turned away and drowned.
The same will happen to Americans when they try to flee, they will not be welcome anywhere and turned away.
Those wars were a big baby and virgin blood sacrifice a satanic ritual to consecrate the entire middle east to Lucifer. To Moloch Mammon=the Bankers, who own the new contemporary Sodom and Gomorrah, the former Holy Land. What you did is unforgivable, but maybe if you do your penance before the earth is totally destroyed, your Hell will be less and not for eternity.
You will all pay before the final day, of the arrival of the black sun.
http://www.royaldevice.com/messaggiAnguera2005.htm
http://www.royaldevice.com/lettere23.htm
Before the war, and the black sun, america will experience what they did, that was unforgivable sin and that they were and are very PROUD to do.
Lucifer always counts on PRIDE, it is always the easiest and most reliavbe means to destroy sand take souls from the lost sheep of God.
You don’t like the truth do you.
It is Pride and all his other LIES, that you love, and value, more than God or your souls.
You should confess your sins, and beg for mercy and return to God.
Only such prayers can save you now.
I have so much prayed for america, but your sins before and since the wars, toward one another are too dark and evil to continue.
So evil that the illuminati/WEF believe they can take over and run the entire world, as second kingdom of Hell. [16] And he shall make all, both little and great, rich and poor, freemen and bondmen, to have a character in their right hand, or on their foreheads. [17] And that no man might buy or sell, but he that hath the character, or the name of the beast, or the number of his name. [18] Here is wisdom. He that hath understanding, let him count the number of the beast. For it is the number of a man: and the number of him is six hundred sixty-six. That is what the antichrist people are planning on doing to you for all that you did for them. Just like you believed their VaXXX would cure you, you will believe this Mark will give you back your precious MONEY/Mammon, they will also fool you again, and they will laugh at you as you suffer and enjoy your pain, for the mark will make you SUFFER far more than the VaXXX.
Worse you will spend eternity in Hell and never know God or his love again for doing so.
You LOVE Money and not God or one another. If you truly loved one another as you loved yourselves and loved God, you would have NOTHING to FEAR. You would this world would be heavenly for all and no money would ever be needed. You would live the way you did before Moloch Mammon the fallen angels of Hell arrived with their satanic religion+the money system/banking.

BL
BL

Got gold, land, food??

falconflight
falconflight

Boating accident, yes, yes.

Discover more from The Burning Platform

Subscribe now to keep reading and get access to the full archive.

Continue reading