Daily Reckoning Australia, Released on 3/31/20
As is often the case, Jim Rickards has been one step ahead of mainstream analysts through the entire COVID-19 crisis. He predicted it would be global catastrophe in early February, well before markets caught the fever. So what does Jim see happening next? The answer is unsettling: A complete monetary system shutdown. Starting in the US. Then spreading outwards. At the end of such a scenario, the entire global financial system shuts down, and any Federal Reserve intervention may no longer be effective. It’s worth pointing out that this is a scenario Jim has highlighted for several years as the bookend of this historic bull market. The difference now is, it appears to be in motion.
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.