GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Saturday, October 11, 2014

Jim Rickards: China Wants The SDR








Jim has 2 best selling books out in the last few years about the global economy: THE DEATH OF MONEY: THE COMING COLLAPSE OF THE INTERNATIONAL MONETARY SYSTEM and Currency Wars. Both books are must reads and we highly recommend listeners read them! Jim has over 35 years of experience working on Wall St as both a lawyer and an investment banker as well as other positions. His full bio can be found here: http://en.wikipedia.org/wiki/James_G.... During this 25 minute interview, Jason asks Jim about the US Federal Reserve and tapering and also about the European Central Bank (ECB) fighting a currency war because the Euro was too strong relative to the US Dollar and how it was hurting European exporters. Jim thinks the US Dollar is getting too strong and it will hurt the exports of US exporters and that the Federal Reserve doesn't want a strong dollar and wants to import inflation. He says Draghi will not do more than bailout European banks and will not print extra Euros to stimulate the European economy like the Federal Reserve has done in the US. He says the ECB has a much different mandate than the Fed and that the ECB will not completely copy the Fed. Jason and Jim talk about inflation and stagflation and how the US and Europe seem destined down a path towards Japan where Japan is now experiencing stagflation in their economy due to much higher food and energy prices and higher import prices.

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