Jim Rickards Hits Back at Peak Inflation Criticism; Talks Bitcoin Erasing Money (Part 2/2)

Stansberry Research, Released on 3/29/22

For Part 1 of this interview, CLICK HERE

In part two of Jim Rickards' discussion with our Daniela Cambone, the NYT best-selling author said, "inflation can go a lot higher," because the Fed cannot do anything about supply shortages ranging from food to oil. Real wages are, "negative, they're going down," and with rising inflation, people will not spend money elsewhere which can slow the economy further, he asserts. If the Fed continues down its projected path of rate hikes, "then they will cause a recession, it will absolutely happen," Rickards predicts. He paints a grim picture of the coming digital dollar that can be seen as a, "totalitarian mechanism," comparing the new technology to a full surveillance state which is already being played out in China. "Bitcoin is part of a larger digital environment that has erased the concept of money," Rickards concludes, saying we are in a current state of "moneyness," due to the definition of money being unknown.

Jim Rickards is a lawyer, investment banker and economist with over thirty years' experience in capital markets. He is currently Chief Global Strategist at Meraglim. He advises the Department of Defense, the U.S. intelligence community, and major hedge funds on global finance, and served as a facilitator of the first ever financial war games conducted by the Pentagon. A frequent guest on financial news programs, Rickards is also the author of The New York Times bestselling novels Currency Wars: The Making of the Next Global Crisis and The Death of Money. His latest book is The New Great Depression: Winners and Losers in a Post-Pandemic World.

bitcoin, economy, Fed, inflation, markets

Jim Rickards Hits Back at Peak Inflation Criticism; Talks Bitcoin Erasing Money (Part 2/2) added by Herman James on 03/28/2022View all posts by Herman James ?+'