Just a quick note of thanks to the National Center for Policy Analysis (NCPA) for linking to the review of the recent Jim Rickards Speech in Dallas. The NCPA did a great job of recording a video of the speech which we also posted here. Many times when Jim speaks like this, only the live audience gets to hear it. In this case, they have provided an excellent free video well worth the time to watch. Jim covered his complexity theory in the speech and then got some excellent questions. It's all on the video. The questions allowed him to cover the topic more in depth.
This speech also inspired a followup blog article here that asks the question: Can the 1% Overpower a Complex System? You can read that here. I think this will be an interesting question to follow over time.
If Jim Rickard's forecast of another big financial crisis does unfold in the coming months and years, it will set the table for the major monetary system changes this blog is devoted to covering. We are talking about major historic change, not just the usual tweaking to the system.
This is why I recommend that everyone watch this speech to understand how all this could some day impact us. It's not just an academic debate with no real world impact.
It will either happen or it won't and we will follow it here until we find out the answer.
Added note: The NCPA did a excellent job hosting the speech and it was a pleasure to meet them. They have a new financial crisis initiative. It's goal is to increase public awareness of the issue to understand what caused the last financial crisis and hopefully avert a new one. Worthwhile goals for sure.