In his latest interview, Greg Hunter brings on Jim Rickards, 6 time best selling author and lawyer who was deeply involved as an advisor at the FED when the Great Financial Crisis struck in 2008 and also worked at the CIA for ten years. Rickards is an expert on the monetary system. His books are a testament to his knowledge including, 'Currency Wars: The making of the nexy global crisis', 'The Death of Money: The coming collapse of the international monetary system' and 'The New Case For Gold'.
Rickards is out with a new book titled, 'Sold Out' which will be released on December 6 and pre-orders can be put in on Amazon. The book is discussed in the interview and he explains the old supply chain system in detail and why it is collapsing. As an example, BMW in Germany had to shut down a line because they couldn't get the parts needed from their supplier... in Ukraine. Issues like this are forcing companies to look for alternatives.
Rickards states that while we experienced some store shelves going empty in the last couple of years, what's coming will be far worse and to get prepared as soon as possible. In the interview, they discuss the FTX scandal, suggesting it is akin to throwing fuel into a fire as well as the FED terminal rate which some have suggested is 5% and others say 7%. The truth is, even FED Chair Jerome Powell doesn't know for sure what the terminal rate may be. Rickards suggests that because of this, to expect rates to go higher into the new year and to stay higher for a longer period of time before the FED funds rate comes down again.
A quick explanation of the term 'terminal rate': Rates are going up to cool inflation but how high does it have to go before we finally see inflation cool. When that rate point is reached, it is called the terminal rate. Since no one knows how high the rate must go to cool inflation, the terminal rate is anyone's guess.
Rickards also discusses Cost Push / Pull and Demand Push / Pull and their inherent differences as it is related to what he calls the new 'Supply Chain 2.0'. He also discusses Crypto and the extreme importance of diversification of wealth which he says is a combination of real estate (farm), stocks of companies that actually produce something such as a mining company, Cash on hand and gold and silver (see my OwnX link below).
Much more is discussed in the near hour long interview. Link is below.
Greg Hunter was banned (CENSORED) by Youtube earlier this year and has since moved to Rumble and now posts all his videos there. Join Rumble and subscribe to his channel and never miss any of his great interviews. Some big names include Peter Schiff, Clif High, John Williams, Gerald Celente, Dr. Peter McCullough and recently Martin Armstrong, Bix Weir and Michael Snyder.
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