Jim Rickards on how to invest during the new great depression

Paul Buitink talks to best-selling author Jim Rickards about his new book 'The New Great Depression'. Jim explains the difference between recessions and depressions. He says the US could be considered in a depression since 2008 in terms of depressed growth.

Follow Jim on Twitter at @JamesGRickards
Follow Paul on Twitter at @paulbuitink.

They talk about unemployment and the Labor Force Participation Rate which is declining. Real unemployment is more around 12-15%

Decline of New York is discussed and how lockdowns are not effective but do destroy economies.

Money velocity can be increased by raising inflation expectations by devaluing dollar against gold.

Jim's price target for gold is $14,000 in 2025. Jim still thinks crypto is nonsense and it’s just gambling. He also criticizes Tether and calls it the biggest Ponzi in the whole world. Jim explains how Bitcoin is different and worse than gold and the dollar system in his view. Elon Musk he calls the P.T. Barnum of this age.

Jim expects a big new SDR issue later this year between 500 and 2000 billion.

[Pollmak]

He has some good points, and any good investor will listen to all advise from many sources to make a decision that is best for them.

[sdelony]

To bad they don’t have gold in Fort Knox

[johnr]

I agree with Rickards, but he gives advise in terms of a "generational" time span. If you are looking for a shorter term investment, you can go broke while you are waiting.

[zdenekmarek]

Recently i made huge profits on my investment since i started trading with mrs hanna gomez, her trading strategies are top notch coupled with the little commission she charges on her trade

[PRU]

I used to follow Jim Rickards, now I think he always making his forecasts based on the worst apocalypse scenario that normally doesn’t happen.

[peteryeng]

Paul you did a great interview. I think push back is essential. Dismissing a push back with do whatever you want is not an answer.

[noyb]

if depression is just reduced growth, then depressions are completely normal and expected. required really. nothing grows forever.

[tycobrahe]

Did he say that Feds (arbitrarily) should set the price of gold (to $5000)?! That is NOT the way to “change expectations”. Besides, why would the Feds commit harakiri?

[terrkamp]

Not sure why he blocked you on twitter. You might think the bitcoin element. But I think you northern Europeans are a bit more direct/blunt than what Jim is used to. He is used to you just sitting back and listening to what he has to say. No dissenting views.

He shouldn't have been offended. His bad.

[nodnostrebor]

Fed Chair Paul Volker taught us all the best way to increase the velocity of money. It takes time. But, if interest rates are allowed to float higher to the market appetite, over time, people will work to put money in the bank to receive interest on their savings. At a certain point, when savings are high enough, and interest rates are also high enough, suddenly consumers feel secure enough to spend some of their accumulated interest. This alone will increase the velocity of money in a productive manner. Savers are the bedrock of a good economy. Savers need to be rewarded so there are more savers. Take a look around. Savers are being strangled. Don't expect savers to contribute ANYTHING to the velocity of money under these conditions.

[magda]

IF YOU READ THE BOOK YOU SHOULD UNDERSTAND THAT THERES NO SUCH THING AS G"GOING BACK TO NORMAL"

[JESS-CH]

This aged like Milk.🥛

Used to love Jim, but now I see he's just trying to sell books.

All that fear porn didn't help me one bit in life.

[miles.alexander]

Have never seen Rickards so happy. This man loves negativity lol but I really appreciate his cold hard takes

[RWAfuture]

Today it's not about return ON capital. Today it is about return OF capital

[schrodingerscat]

BTC, ADA, ETH, corn, rhodium, Tesla
those were the knock-out trades of the past couple of years

[mohammadalis.]

My Asset Allocation 30% Gold, 30% Silver 30% Crypto and 10% Cash.. I am gold bug and Crypto guy too.. Diversification is important.

[maniad]

We have the same familiar faces talking about things that would and should happen under free market economies. That’s why what he says is correct. Reality proves him wrong because we do not have a free market. It’s a managed and manipulated market and the only ppl who know how to preserve wealth are central bankers with a thumb on the scale.

[nancyrossel]

Amazing international network of experts, wow

[Moonam]

Thank you.
Just would have loved to hear his thoughts on the Great Reset, Klaus Schwab, the 4th industrial revolution and “build back better”
Maybe next time? ;-)

[granden]

Did I miss the part were Jim said how to invest or was the title just clickbait?