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.
Jim Rickards: Brace for a Great Escape from the Dollar and a Flood of Money into Gold and Bitcoin
| 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 |
| Views: | 2329 |
#1: Cynicom To: BTP Holdings (#0)
Cynicom posted on 2020-12-29 17:56:52 Reply Private Reply
#2: Esso To: Cynicom (#1)
Esso posted on 2020-12-29 18:29:16 Reply Private Reply
#3: Pinguinite To: Esso, Cynicom (#2)
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.
Pinguinite posted on 2020-12-29 23:46:02 Reply Private Reply
#4: TommyTheMadArtist To: BTP Holdings (#0)
TommyTheMadArtist posted on 2020-12-30 00:08:47 Reply Private Reply
#5: Lod To: BTP Holdings (#0)
Lod posted on 2020-12-30 01:21:54 Reply Private Reply
#6: Cynicom To: Pinguinite, Esso (#3)
The DOLLAR is a dead man walking.
Erase the debt, the dollar is KING.
Gold? Gold is sold for the worthless, soon dead paper money named above.
Gold, silver and the paper money that buys it, are all a giant Ponzi scheme.
On that final day of reckoning, the farmer with a bag of potatoes FOR BARTER is king.
Cynicom posted on 2020-12-30 01:22:28 Reply Private Reply
#7: Lod To: Cynicom (#6)
Lod posted on 2020-12-30 01:42:27 Reply Private Reply
#8: Cynicom To: Lod (#7)
Very olde sinners do not sleep well.
Cynicom posted on 2020-12-30 07:02:25 Reply Private Reply
#9: BTP Holdings To: TommyTheMadArtist (#4)
In Germany during he Weimar Republic, you needed a wheelbarrow of Deutcsh Marks to buy a loaf of bread.
This inflation was the result of the sanctions imposed on Germany by the Versailles Treaty at the end of WW I. ;)
BTP Holdings posted on 2020-12-30 07:15:23 Reply Private Reply
#10: BTP Holdings To: Lod (#7)
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. ;)
BTP Holdings posted on 2020-12-30 09:07:06 Reply Private Reply
#11: Pinguinite To: Cynicom (#6)
Gold is sold for other things. It could be paper money if someone needs paper money to immediately exchange for, say, a sack of potatoes.
For the last 5000 years, gold and silver has worked as a store of wealth.
You can put gold and silver away and use it at any time in the future. Do that with a sack of potatoes and it'll rot.
But you know all that. Maybe you're just not happy in this holiday break for whatever reason. That's okay.
Pinguinite posted on 2020-12-30 10:42:05 Reply Private Reply