1) Every dollar in new debt adds 3 cents to GDP. It used to be $2.41. It could go negative. The Misery Index is over 35% which is higher than in the Stagflation of the 1970s. 2) Velocity of money is at a low not seen since the Great Depression. 3) The FED and the Treasury are far more dangerous than ISIS 4) The Stock Market Capitalization vs the GDP is higher now than just before the Great Depression. 5) Notional value of CDS is over $700 trillion. 6) The Russians and Chinese are dumping Treasury bonds. Belgium is buying bonds but that is a front for the FED. The US cannot survive higher interest rates. 7) Petrodollar. This is a flash point. 8) Gold is another flashpoint. A gold transportation official told Rickards that he took a shipment into China guarded by the PLA. Rickards said this transaction was never reported in the public record. 9) Shadow Banking system is up 4,067% since 2005. In the U.S. before the crash, it took about 4.3 years of income to buy the typical house. In China, it takes 18 years of income. 10) The IMF has a 10 year plan to replace the dollar as the world's reserve currency. The IMF is the only Central Bank has a clean balance sheet and they can print trillions of dollars in SDRs. And here's a direct quote from the IMF… "The aggressive use of unconventional monetary policies by the Federal Reserve, the U.S. central bank, has increased the supply of dollars and created rifts in the financial system. The dollar status should be in peril."
Poster Comment:
http://jimrickardspredictions.com/hp-trans.php This is the transcript.
http://jimrickardspredictions.com/?gclid=CMjmwt3Gq8MCFZPm7AodNnYAsQ This is the video.
Do not buy euros as he recommends.