Jim Rickards always makes a good case and is fun to listen to. In this interview, he makes some extremely important points about deflation resulting from demographics, debt and technology. But this immovable deflation directly conflicts with central banks and their policies so there will be an inflationary policy.
I doubt the end game has arrived but, nevertheless, it is important to be prepared for it! The long and slow grind will most likely continue. Consequently, having cash-flow, no debt, food storage, gold, bitcoin and good reading materials.
What do you think? How are you preparing for this uncertain future? Have the monetary mandarins and central banks created an unavoidable mess or will humanity figure out a way through it without too much destruction? Think there will be a complete war on gold by politicians and central banks?
Some great quotes from the interview:
Two tectonic plates; there’s the natural tectonic plate—deflation—and then…the policy plate of inflation—which is money printing, currency wars, QE, operation twist, negative interest rates, and zero interest rates…These [tectonic] forces are not only coming together, but they’re getting more powerful and they’re going to snap…When? No one knows... [But] the effect will be dramatic.
That tectonic “snap” will have a devastating impact on peoples’ confidence in fiat currencies. Confidence will be lost very quickly. And like a coiled spring, You will have your inflation—all at once. ...
I was down in Washington, DC and visited the Pentagon. We were doing a closed door war game [with] maybe 20 people around the table…government officials, CIA, military, think tank people and bankers, etc.
I was talking about SDRs… [And] a very senior official in the US Treasury…sitting one person away from me (there was somebody in between us), and he said, “Don’t you…