Monday, June 2, 2014

Rickards interview with Greg Hunter

Here is a link to the recent interview Jim Rickards did with former CNN reporter Greg Hunter who now operates his own alternative media site. In this interview, Rickards delves into timing more than usual. 

Jim Rickards never gives a specific date for his projection of "the collapse of the international monetary system" and "the Death of Money". Instead he makes the point that whenever the "trigger event" comes, it will start things moving very quickly. 

What he is telling people is that since it is not possible to know when the trigger event will happen, it is important to make any preparations ahead of time because once the events start in motion, he thinks they will speed up due to the instability in the global financial system.

Here is how he puts it in this interview:

"Rickards goes on to say, “Right now, we are on the precipice now.  When you are on the precipice, it doesn’t mean you fall off immediately, but you are going to fall off because you can see the forces in play.  What I tell clients and investors is it’s not as if we are going to make some mistakes and some bad things are going to happen.  The mistakes have already been made.  The instability is already in the system.  We’re just waiting for that catalyst that I call the snowflake that starts the avalanche.   You don’t worry about the snowflakes; you worry about the snow and that it’s unstable and it’s just waiting to collapse.  That’s what the system is right now; we are just waiting for a catalyst.  

People ask me all the time, what could it be?  Technically, my answer is it doesn’t matter because it will be something.  It could be a failure to deliver physical gold.  It could be an MF Global financial failure.  It could be a natural disaster.  It could be a lot of things.  The thing investors need to understand is the catalyst doesn’t matter.  It’s coming because the instability is already there.” 

Also in this interview, Rickards goes into a fairly detailed explanation as to why Belguim is suddenly showing up as the 3rd biggest buyer in the world of US bonds. 

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