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Confidence in Fed is fragile; are we doomed for a crisis? Jim Rickards weighs in

Kitco News, Released on 12/12/19

“You can have a fiat money standard if people have confidence. There are a couple of ways to destroy confidence. One, too much debt, and the other one is inflation. Inflation is not much of a problem right now but too much debt is, because it points to inflation as a way out.”

Part 1 (part 2 below)

“With slow growth I think you’ll see one, maybe two rate cuts, that will give the stock market a boost. The other thing is calm down the trade wars, it looks like we’re literally just days away from doing that with the Chinese, so if you get good news on trade wars and the prospect of rate cuts, that’s going to keep the stock markets up, and that’s going to help Trump for re-election.”

Part 2

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, as well as Aftermath: Seven Secrets of Wealth Preservation in the Coming Chaos.

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