Stocks, Bonds, Pension Funds “Will Be Wiped Out…” – Rickards

Tuesday, November 22, 2016
By Paul Martin

By: GoldCore
GoldSeek.com
Tuesday, 22 November 2016

David McWilliams interviewed Jim Rickards at Kilkenomics for TV3’s Agenda and the short ten minute interview is a must watch.

Key points covered are

We are already in global currency wars

End of the dollar as the benchmark global reserve currency coming

Higher inflationary – “all the currencies will fall against hard assets”

Massive financial crisis coming – complexity theory, behavioral economics shows this

“Allowing system to get larger and larger and we do not understand risk”

“In 1998, Wall Street bailed out a hedge fund; in 2008, the central banks bailed out Wall Street; in the next financial crisis which could be tomorrow or could be in 2018, who is going to bail out the central banks?”

Best description of financial panic – “everybody wants their money back at same time …”

“Money in the bank is not money – it is an unsecured liability of an occasional insolvent financial institution..”

In a panic, everyone seeks to get their money “which is gold, silver or cash…”

The Rest…HERE

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