Title: Jim Rickards: Brace for a Great Escape from the Dollar and a Flood of Money into Gold and Bitcoin Source:
[None] URL Source:https://www.youtube.com/watch?v=QrFEVjZ0m0U&feature=emb_rel_end Published:Dec 21, 2020 Author:Stansberry Research Post Date:2020-12-29 17:43:08 by BTP Holdings Keywords:None Views:2129 Comments:11
Best-selling author Jim Rickards talks about a great escape from the U.S. dollar in 2021 and a massive influx of money that will flow into gold and bitcoin. "People are getting in gold and bitcoin because they want to get out of the dollar," the Currency Wars author tells our Daniela Cambone as part of the Outlook series. Rickards also talks his new book, The Great New Depression, and how the first quarter of 2021 will be marked with a recession.
Seemed on-point to me. Once this covid thing finally ends and monetary velocity picks up, that's when I expect we will see inflation start to kick in. Not before.
Some 40% of all US dollar M1 money supply in existence was created THIS year alone. There has to be a reckoning. If it doesn't happen in 2021, it would only be because the lockdown and shipwrecked continues through 2021.
I don't know if I heard this theory from Rickards before, but it's a view I share, at least. The dollar is in trouble.
When I worked for Illinois State Highways, in winter on snow and ice, they called me in 3 hours early for 18 hour shift. I had to stop to nap a couple of times toward the end of that one.
You just swing your legs across with the plow controls between your legs and nod off. We had hard hat with thermal liner. You know you been asleep when you wake up and the windshield is covered with snow. ;)