JAMES RICKARDS - THE ROAD TO RUIN

London Real

Brian Rose

Investing, Business, Technology

4.4 • 1.9K Ratings

🗓️ 1 January 2017

⏱️ 87 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

James Rickards is an American lawyer and a regular commentator on finance. He is the author of The New York Times bestseller Currency Wars: The Making of the Next Global Crisis, published in 2011, The Death of Money: The Coming Collapse of the International Monetary System, published in 2014, and The New Case for Gold, published in 2016.

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Chapters:

00:00 Trailer.

02:20 Brian's thoughts on the episode.

05:28 Brian's Introduction.

06:01 Emergence of Long Term Capital Management (LTCM), the hottest thing out there.

08:37 Insider account of when it all went wrong.

09:30 Myron Scholes, Fischer Black and Robert Merton.

11:17 Notional derivative swaps, a monster completely out of control.

13:02 Who is going to bail out the central banks in the next financial crisis, hypothetically in 2018?

18:53 Magnitude of financial consequences in1998 and 2008 financial crises.

26:59 Social unrest in financial crises.

30:39 How James forecasts terrorism attack, election results and next apocalyptical financial crisis.

41:34 "The Global Elites' Secret Plan for the Next Financial Crisis."

49:00 Break up big banks: get rid of derivatives: re-instate Glass-Steagall.

56:24 What we can do to save our families.

1:01:17 Where Trump election forecasts went wrong and the financial prospect for Trump's policies.

1:08:05 Where James Rickards puts his money.

1:11:40 What James has learnt about an emotional, physical and financial setback.

1:16:51 How James writes and produces consistently great books.

1:20:35 Phone call to the 20 year old James Rickards

1:22:41 Best advice ever received.

1:24:01 Brian's summing up.

FULL SHOW NOTES: https://londonreal.tv/james-rickards-the-road-to-ruin/

Transcript

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0:00.0	Let's talk about the speed with which we are watching this market material.
0:04.0	We're now down 43%.
0:07.0	In 1998, Wall Street got together and bailed out a hedge fund.
0:10.0	In 2008, the Central Banks got together and bailed out Wall Street and all the banks in the world.
0:15.0	In the next crisis, who's going to bail out the Central Banks?
0:20.0	Everything about this was corrupt. The bankers got the profits, not the people.
0:24.0	This is not left versus right or republican versus Democrat. This is the Leeds versus everyday people.
0:29.0	That's what's going on.
0:30.0	Are they trying to wreck the system?
0:33.0	No, but they are wrecking the system.
0:36.0	They're not uneducated.
0:38.0	They're miseducated.
0:39.0	We should be descaling the system. Punch a hole in a vessel. One compartment will fill up, but the vessel won't sink. Break up up into five banks or more. If one of those banks
0:54.7	fails, too bad for them, but the whole system doesn't go down.
0:59.3	Now President Bush declared a state of emergency two weeks after 9-11.
1:05.0	For 16 years, President Bush and President Obama have renewed the state of emergency.
1:12.0	America is one phone call for martial law.
1:14.4	We will not tolerate and will be disobedient.
1:17.8	We can't save the world.
1:19.4	What can we do to save our families?
1:21.6	I recommend putting 10% of your investable assets in physical gold and silver.
1:30.7	Fascism properly understood is not a creature of the right or the left.
	...

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