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.