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Jim Rickards: They're Going To Lock Down The System

When central banks can print no more, money will be trapped
Sunday, November 6, 2016, 1:50 PM

Summary:

Click the play button below to listen to Chris' interview with Jim Rickards (35m:25s). » Read more

Blog

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In A World Of Artificial Liquidity – Cash Is King

And you'd better have some stashed out of the system
Friday, July 3, 2015, 12:19 PM

It's more crucial now than ever for people to consider extracting a portion of cash from their bank accounts. » Read more

Blog

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4 Factors Signaling Volatility Will Return With A Vengeance

Buckle up. It's going to get bumpy.
Wednesday, May 20, 2015, 9:43 AM

No one could have predicted the sheer scope of global monetary policy bolstering the private banking and trading system. Yet, here we were - ensconced in the seventh year of capital markets being buoyed by coordinated government and central bank strategies. It’s Keynesianism for Wall Street.

The unprecedented nature of this international effort has provided an illusion of stability, albeit reliant on artificial stimulus to the private sector in the form of cheap money, tempered currency rates (except the dollar - so far) and multi-trillion dollar bond buying programs. It is the most expensive, blatant aid for major financial players ever conceived and executed. But the facade is fading. Even those sustaining this madness, like the IMF, are issuing warnings about increasing volatility. » Read more

Podcast

JessesCrossroadsCafe.com

Jim Rickards: The Coming Crisis is Bigger Than The Fed

And will arrive within the next 3-5 years
Sunday, April 13, 2014, 4:03 PM

James Rickards, financier and author of the excellent cautionary best-seller Currency Wars, has recently released a follow-on book: The Death of Money: The Coming Collapse of the International Monetary System. In it, Jim details how history provides plenty of precedent for the collapse that has begun amidst the major world currencies.

The historical progression is predictable enough that Jim is comfortable claiming that the next economic crisis we face will be bigger than the ability of the Federal Reserve (and the other world central banks) to contain it. And that such a calamity will happen within the next five years: » Read more

Podcast

Jim Rickards: We're Witnessing One of the Greatest Failed Experiments in Economic History

It all ends in the collapse of the dollar
Saturday, September 21, 2013, 3:50 PM

Jim Rickards, author of the best-seller Currency Wars, sees the world's central banks embroiled in a "race to debase" their currencies in order to restore – at any cost – growth to their weakened economies.

In the midst of the fight, the U.S. Federal Reserve wields oversized power due to the dollar's unique position as the global reserve currency. As a result, actions by the Fed create huge percussive ripples across the battlefield, often influencing events in ways little understood by the players – and especially by the Fed itself.

In Rickards' words, the policymakers at the Fed "think they are dialing a thermostat up and down, but they're actually playing with a nuclear reactor – and they could melt the whole thing down": » Read more

Daily Digest

Image by Leonid Mamchenkov, Flickr Creative Commons

Daily Digest 4/17 - Cyprus Braces For Russian Exodus, Half NYC Workforce On Food Stamps

Wednesday, April 17, 2013, 2:37 PM
  • Ohio’s $500 Billion Oil Dream Fades as Drillers Misjudge: Energy
  • Cyprus braces for Russian cash exodus
  • Italy May Cut $6.6 Billion in Defense Spending This Year
  • Detroit's encroaching blight as seen through Google and Bing maps
  • Smithsonian to close galleries due to budget cuts
  • Three-fold increase in demand for Gold: Jewellers
  • Bailouts push German debt to new record
  • Italy's temporary layoff scheme runs out of cash, sparks protests
  • Almost half of NYC workforce on food stamps
  • Let them eat vegetables: Egypt's wheat farmers hit hard by diesel price hikes
  • South Korea Proposes $15.3 Billion Stimulus Budget
  • EU warns of budget constraints as Cyprus seeks more aid
Daily Digest

Image by david.nikonvscanon, Flickr Creative Commons

Daily Digest 4/16 - Cyberattacks Targeting Smaller Companies, Libya Could Supply Europe with Solar Power

Tuesday, April 16, 2013, 12:24 PM
  • The Next Phase in the Precious Metals Bull Market
  • Everyone Should Be Thrilled By The Gold Crash
  • IMF downgrades global growth forecast again
  • Crocodile Dundee star Paul Hogan’s financial advisor has disappeared with $34-million in Australia’s ‘largest tax evasion scheme:’ reports
  • Cyberattacks, corporate espionage now targeting smaller companies
  • What Does the Recent Fall in the Price of Gold 'Prove?'
  • Never Mind Oil, Libya could Supply Europe with Solar Power
  • Grantham: It's Too Late For The Dodo Bird, But It's Not Too Late To Stem The Environmental Crisis
Daily Digest

Image by Blatant_World, Flickr Creative Commons

Daily Digest 3/27 - Cyprus Banks Stay Shut Until Thursday, Spain Bank Offers Grim Forecast

Wednesday, March 27, 2013, 10:55 AM
  • Cyprus bail-out: savers will be raided to save euro in future crises, says eurozone chief
  • Spain's central bank offers grim economic forecast
  • Mr Yen cautions on Japan's 'unsafe' debt trajectory
  • House To Propose College Tuition Increase
  • California State Treasurer emphasizes shrinking retirement savings
  • Portugal to contract 2.3% in 2013: central bank
  • Bernanke rejects competitive devaluation worries
  • Cyprus bailout: Banks to stay shut until Thursday
  • Recession keeps Italy's banks at risk: IMF
Insider

Cyprus Bank Heist: A True Game-Changer

Near-term risks include domino-like bank runs & capital cont
Monday, March 18, 2013, 12:29 AM

This weekend on 3/16/13, under pressure from IMF bankers and a push from German politicians, a Cyprus bailout deal was approved that would take the bulk of the bailout fund from the private bank accounts of Cyprus bank depositors.  Yes, you read that right; savers were determined to be the logical target to bail out the profligate.

The reaction from depositors, predictably, was intensely negative.  They are furious and shocked.

This is a complete game-changer.  It means that even money in the bank is not safe.  It implies that money in pension and money market accounts is not safe, either.  It means that rule of laws and contracts really don't matter.  Of course, MF Global taught us that.  It finally means that trust is no longer a part of the equation...  » Read more

Insider

The Implications of a German Exit from the Eurozone

What changes to expect
Tuesday, September 25, 2012, 12:45 AM

Executive Summary

  • Why the U.S. and the IMF won't act soon enough to avoid a German exit
  • Why Finland will bolt from the Eurozone the moment Germany does (and how many others may soon follow?)
  • What a German exit (and a new mark) would really mean
  • When will Germany likely announce its departure from the Eurozone?

If you have not yet read Part I, available free to all readers, please click here to read it first.

In Part I, we covered the background to what now appears to be inevitable: Germany has to leave the Eurozone. She, along with the Netherlands and Finland, simply cannot afford to bail out the rest of the Eurozone, so she is standing in the way of a resolution to the crisis. It is therefore only a matter of time before the political classes have to face this reality.

Time is running out, and the longer Germany delays, the worse her position will be. The yields on Spanish and Italian debt will inevitably head towards and through the 7% "point-of-no-return" threshold and beyond, and Germany will get all the blame. Germany will be seen as a thorn in the side of the ECB, restricting its scope for monetary action and obstructing a solution, partly because of the Bundesbank’s stubborn conservatism and partly because Germany’s Constitutional Court frowns on monetising government debt. She will be unfairly condemned by everyone.

Let’s look at some back-of-the-envelope figures... » Read more