The Julia La Roche Show, Released on 4/1/25 (Recorded on 3/31/25)

Jim Rickards returns to The Julia La Roche Show to discuss “Magnonomics” – the multi-faceted economic strategy of the Trump administration. Rickards explains the three-legged stool of Trump’s economic policy: Bessent’s 3-3-3 Plan, Navarro’s tariff strategy, and Miran’s “Mar-a-Lago Accord.” He warns of a potential “time bomb” in the financial system if Treasury Bills are swapped for 100-year bonds, discusses why central banks are racing to buy gold, and explains why the current gold rally is “just getting started.” Rickards also shares his market outlook, predicting continued market decline and potential recession before long-term economic gains can be realized.

00:00 – Introduction and overview of key events for the week
01:04 – Big picture economic outlook: Introduction to “Magnonomics”
03:01 – Tariffs and auto industry impacts
04:49 – Front-loading demand ahead of tariff implementation
06:50 – Bessent’s Three Arrows Plan (333 Plan) explained
08:57 – National debt sustainability and historical context
11:05 – Oil production and foreign policy leverage
13:17 – How tariffs actually work: Debunking the “inflation” myth
15:27 – Restoring U.S. manufacturing and high-paying jobs
16:50 – The Mar-a-Lago Accord: History and current plans
19:57 – The “traffic light system” for trade partners
21:40 – The Petrodollar Accord history and relevance
24:02 – Can Miran achieve what Baker did with currency management?
26:19 – Century bonds and potential Treasury bill swaps
28:27 – Gold certificate revaluation as a Treasury funding tool
30:07 – Monetizing federal land assets and natural resources
31:27 – Why the U.S. won’t go bankrupt: Understanding debt dynamics
33:26 – The global dollar shortage explained
35:34 – The “time bomb” in the Mar-a-Lago Accord: Treasury bills as collateral
38:45 – Treasury issuance strategy and liquidity needs
40:13 – Intentional dollar weakening: Pros and cons
44:02 – Evaluation of Trump’s economic policies
45:54 – What’s driving gold’s price movement
48:49 – Why central banks are buying gold: Protection against asset seizure
51:13 – Supply/demand dynamics and the “everything hedge”
54:15 – Market outlook and potential recession ahead
58:05 – The Fed’s response to market decline: No “Powell Put”
59:57 – Jim’s latest book and where to follow his work

Jim Rickards is a lawyer, investment banker and economist with over thirty years’ experience in capital markets. He is currently Chief Global Strategist at Meraglim. He advises the Department of Defense, the U.S. intelligence community, and major hedge funds on global finance, and served as a facilitator of the first ever financial war games conducted by the Pentagon. A frequent guest on financial news programs, Rickards is also the author of The New York Times bestselling novels Currency Wars: The Making of the Next Global Crisis and The Death of Money. His latest book is MoneyGPT: AI and the Threat to the Global Economy.

  economy, gold, tariffs, Trump