Ep 322: Jim Rickards: Global Economic Collapse Imminent

Wall Street Unplugged - What's Really Moving These Markets

Frank Curzio

Business, News, Commodities, Debt, Investing, Macroeconomics, Gold, Personal, Uranium, Oil, Economics, Business News, Geopolitics, Industry, Crypto, Stocks, Curzio, Trading, Finance, Research, Investments, Tokens, Talk, Crisis

4.5 • 1.1K Ratings

🗓️ 24 June 2015

⏱️ 71 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jim Rickards, best -selling author and editor of the Strategic Intelligence newsletter at Agora Financial, warns of a coming economic depression which could result in a 70% collapse in the S&P 500. He explains why this collapse is imminent. He also says cyber-security is one of the world's "biggest single threats" to national security. He highlights how China and Russia have "cyber-brigades" which are capable of shutting down our stock exchanges at any given moment. Rickards is not your average "doom and gloom" guy. He is an advisor on capital markets to the Director of National Intelligence and the Office of the Secretary of Defense. He was the principal negotiator in the 1998 bailout of Long-Term Capital Management. Rickards believes many investors will get hurt from the upcoming economic catastrophe. During this interview, he provides specific examples of how investors can protect themselves during extreme inflationary (or deflationary) times.

Transcript

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0:00.0	Wall Street Unplugged looks beyond the regular headlines heard on mainstream
0:06.1	financial media to bring you unscripted interviews and breaking commentary direct from Wall Street
0:11.8	right to you on Main Street.
0:14.0	How's it going out there?
0:17.0	It's Wednesday, June 24th.
0:19.0	I'm Frank Curzier, a host of the Wall Street Unplugged Podcast, where I break down the headlines and
0:25.0	tell you what's really moving these markets.
0:30.0	Have a great interview coming up for you in a minute.
0:34.0	To Jim Rickards?
0:38.0	Someone who is a little bearish.
0:40.0	He's predicting a global economic collapse.
0:45.0	A 25 year depression and a pullback of up to 70% in stocks.
0:52.0	And he expects it to happen pretty soon.
0:57.5	Know what you're thinking?
0:58.9	Another crazy prediction,
1:00.1	but Jim's not really that crazy guy with a blog making stupid predictions to sell a book.
1:06.8	He's a lawyer who helped out with the bailout of long-term capital management.
1:12.4	An advisor in the capital market to the director of national intelligence, also the office of the
1:17.6	Secretary of Defense.
1:21.1	Numerous articles on risk management been published by some of the most prestigious institutions in the world.
1:27.0	I'm telling you, when you hear this interview, he has a calm, almost scary and confident presence. Like he
1:36.1	knows an economic crash is definitely going to happen really soon. A little scary
	...

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