Jim Rickards Death of Money

Jim Rickards interview on the World economy and the death of the current fiat monetary system.

 

We’re in a global depression. There’s a slow down in Japan, China, Europe and the U.S. — the whole world is in a global depression.

There’s enough fights to go around, but in a fight between the ECB (European Central Bank) and Germany, Germany wins. The ECB is only doing $2.5 billion worth of asset buying, while the FED has been doing almost $1 trillion a year.

So the ECB is going through the motions but they’re not doing anything like QE. They’re not buying soveirgn debt.

They’re buying some asset-backed securities, but there aren’t even enough of those to have much of an impact.

The ECB’s Mario Draghi is the best Central Banker in the world.

He understands that Central Banks are essentially impotent. When you’re impotent you have to talk a good game — so Draghi says little and does less.

 The U.S. FED is the opposite. They don’t understand how impotent they.

Interview With Jim Rickards - Inflation, China, Gold - October 10th, 2014

Interview With Jim Rickards - Inflation, China, Gold - October 10th, 2014

an exciting audio interview with James G. Rickards, New York Times best selling author, Fund Manager with the West Shore Group, and advisor to the Physical Gold Fund.

October 2014 Interview with Jim Rickards topics:

*Decline in labor force participation has hit a 4 decade low
*Yellens primary indicator is real wage growth
*Why the overall economy is weak
*Accuracy of Government Statistics
*Update on China
*Hacking and Asymmetric Cyber-Warfare
*The new M.A.D. is mutually assured financial destruction
*Why it makes sense to allocate to hard assets
*Why the next financial collapse will be exponentially larger than the last one
*The End Game, Part II

Ted Butler: Silver Nightmare Will Soon Be Over

Ted Butler breaks down what happened to the silver price recently



Halloween couldn't have been more terrifying for silver investors. The gray metal cracked under $16/oz on Friday, a price not seen for nearly half a decade.

For years now, it's seemed like silver was beaten up so badly its price couldn't go lower. But then it would.

Why has silver been beaten down so badly? (now down 2/3 compared to it's high in late 2011). And will it ever see brighter days again?

This weekend, Chris has a long discussion with silver expert Ted Butler on the real culprit behind the wild price slams that have plagued silver: unfairly concentrated positions within the derivatives market.

JP Morgan, corruption, silver manipulation, banks, commercials, physical delivery, short squeeze

#JPMorgan, #corruption, #silvermanipulation, #banks, #commercials, #physicaldelivery, #shortsqueeze #nakedshorting #bankrun #bullionbankrun

China Launches New World Bank Rival

China Launches New World Bank

China and India are backing a 21 country $100 billion Asian Infrastructure Investment Bank (AIIB) to challenge to the World Bank and Asian Development Bank.

Memorandum of understanding were signed with 21 Asian countries in Beijing Friday. Australia, Indonesia and South Korea were absent following hidden pressure from Washington.

The development bank was proposed a year ago by Chinese President Xi Jinping, and is to offer financing for infrastructure projects in underdeveloped Asian countries.

Headquartered in Beijing, former chairman of the China International Capital Corp investment bank Jim Liqun, is expected to take a leading role.

The bank will initially be capitalized with $50 billion, most of it contributed by China. The country is planning to increase authorized capital to $100 billion. With that amount the AIIB would be two-thirds the size of the $175 billion Asian Development Bank.

India will be the second largest bank shareholder though Kuwait, Qatar, Mongolia, Kazakhstan, Pakistan, Nepal, Oman, and all the countries of the Association of Southeast Asia, except Indonesia are involved.

Australia, Indonesia and South Korea did not participate following US claims of ‘concerns’ about a rival to Western-dominated multilateral lenders.

Japan, China's main rival in Asia, which dominates the Asian Development Bank along with the United States, did not attend but had not been expected to do so.

Indonesia refused to participate claiming it needs time to discuss China’s proposal.

The Australian Financial Review said US Secretary of State John Kerry had personally asked Australian Prime Minister Tony Abbott to “steer clear” from joining AIIB.

"Australia has been under pressure from the US for some time to not become a founding member of the bank and it is understood Mr. Kerry put the case directly to the prime minister when the pair met in Jakarta on Monday following the inauguration of Indonesian President Joko Widodo," the paper said.

South Korea, one of America’s closest allies in Asia, is alse prevaricating. Its finance ministry said it spoke with China to request more time to consider details such as the AIIB's governance and operational principles.

US officials have said they do not want to support an initiative Washington thinks is unlikely to promote good environmental, procurement and human rights standards in the way the World Bank and ADB are required to do.

But Chinese officials are convinced the American opposition is an attempt to contain the global rise of China and its ambition to remain the dominant power in Asia.

“You could think of this as a basketball game in which the US wants to set the duration of the game, the size of the court, the height of the basket and everything else to suit itself,” Wei Jianguo, a former Chinese commerce minister, told the Financial Times.

Matthew Goodman, scholar at the Center for Strategic and International Studies in Washington DC believes the initiatives of a BRICS Bank and AIIB “represent the first serious institutional challenge to the global economic order.”

Chinese Finance Minister Lou Jiwei said the AIIB will set high standards, safeguard policies and improve on bureaucratic, unrealistic and irrelevant policies, according to the Xinhua news agency.

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