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