This episode is the first of a two part interview that Preston and Stig have with New York Times’ best-selling author Jim Rickards. The original plan was to discuss Jim’s new book, The New Case for Gold, which is currently leading three individual Amazon best-selling categories. However, as you will quickly learn, this is only the starting point for the lively conversation with one of the country’s most respected financial experts.
Jim’s first book, Currency Wars, was one of the first books to cover the emerging currency conflict that has occurred since the last economic financial crisis in 2008. In his book, he projected that by 2015-2016 the United States would be deeply involved in a race to devalue fiat currencies with other competing global economies. Jim’s new book on Gold is a continuation on the ideas presented in Currency Wars and the Death of Money only this time he demonstrates to the reader why now is the right time to add Gold to your portfolio.
In this episode, you’ll learn:
- How Jim Rickards felt when we was the principal negotiator for Long Term Capital Management that collapsed in 1998 and lost $4 Billion dollars
- Why the current banking situation is worse today than in 2008
- Why China is the biggest buyer of gold in the world, and why it’s a hedge against US inflation.
- Why you may want to hold 10% gold in your portfolio
- If billionaire Kyle Bass made a mistake by shorting the Chinese Currency
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BOOKS AND RESOURCES
Jim Rickards’ book: The New Case for Gold – Read reviews of this book
Jim Rickards’ website
Jim Rickards’ Twitter account
Jim Rickards’ book: Currency Wars – Read reviews of this book
Roger Lowenstein’s book: When Genius Failed – Read reviews of this book
Nassim Taleb’s book: The Black Swan – Read reviews of this book