6 MINS AGO! Jim Rickards: "We're Seeing Something We've NEVER SEEN BEFORE''

6 MINS AGO! Jim Rickards: "We're Seeing Something We've NEVER SEEN BEFORE''

In this insightful discussion, renowned economist and best-selling author Jim Rickards delves into the complexities and potential consequences of a global loss of confidence in the US dollar.

Rickards explains that if investors, savers, and markets around the world lose faith in the US dollar, there won't be a rush to other fiat currencies like the Euro, Yen, Pound Sterling, or Canadian Dollar. Instead, such a scenario could lead to a severe impairment of the entire global Eurodollar system, potentially forcing a return to some form of gold standard.

Drawing from historical precedents, Rickards outlines the requirements for re-establishing a gold-backed system and calculates that the price of gold would need to be around $27,000 per ounce to support the current US money supply. This estimate reflects the substantial increase in the money supply over the past several years.

In addition, Rickards discusses the potential fallout from the US freezing and potentially seizing Russian assets in response to geopolitical tensions. He highlights the retaliatory measures that Russia could take, including the expropriation of Western assets within its borders, and the broader implications for the global financial system.

Throughout the video, Rickards emphasizes the intricacies and risks associated with current US policies and their potential to disrupt global markets. His analysis provides a deep dive into the interconnectedness of global finance and the delicate balance that underpins economic confidence.

Key Points:

The potential for a global loss of confidence in the US dollar and its implications.
Historical precedents for gold-backed monetary systems and their relevance today.
Calculations showing the required price of gold to support the US money supply.
The geopolitical and economic consequences of US actions against Russian assets.
The potential for retaliatory measures by Russia and their impact on global financial stability.

James G. Rickards (29 September 1951) is an American lawyer, investment banker, media commentator, and author on matters of finance and precious metals.Thanks for Watching Plain Finance Reborn, share this video to your friends if you find it helpful. Subscribe to our channel for daily videos on Investing, Economy, Finance, Stock Market, Building Business, and more.

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