EP. 93 The Gold Chronicles: May 2020 podcast with Jim Rickards and Alex Stanczyk

Jim Rickards and Alex Stanczyk, The Gold Chronicles May 2020


Topics Include:

*New Book under development on the Pandemic and Depression

*Why Scientists without expert knowledge of the economy may not be the best source for determining economic policy

*Why discernment of the various views of scientists with opposing views on how to deal with Coronavirus is important

*Unemployment Claims have exceeded 38m in the US

*There has never been a time when the stock market does not accurately reflect what is happening in the real economy

*S&P 500 is a cap weighted index where a few major companies dominate the index. Major companies which are doing well do not reflect the stock market as a whole or the rest of the economy

*Algorithms that decide the majority of trading in markets today were written before the Pandemic

*Deflation, Inflation, Hyperinflation

*The psychology of inflation and what leads to increase of velocity of money – quantity theory of money versus phase transitions in psychology

*In a deflationary environment where the Fed has printed close to $10T but still cant get inflation leaves one tool left in the toolkit.. raising the price of gold

*Raising the price of gold would require open market operations in gold – Fed printing money to buy gold or to sell gold in order to maintain a specific price range measured in USD

*Raising the price of gold as a tool to get inflation in the USD during prolonged and massive deflation is not a theory, it has been used in the past

*Expectations of continuing deflation in the short to mid term, but inflation must be created, the trick for the Fed is making sure it sticks the landing

*Scenarios for gold price and inflation numbers if the Fed overshoots and ends up with higher inflation than it wants

*Censorship and deplatforming of people from major media platforms such as YouTube and Twitter

*The polarization of views of people around the world in terms of freedom vs authoritarian approaches to governance, and where it is leading

*The “inner fascist” – #NeoFascistGene

*Essential versus Nonessential Businesses and Occupations

*United States Code: Law enforcement officers, judges, public officials violating Constitutional rights under color of law versus emergency powers granted during threats to national security

*Reparations for China such as seizing/cancelling UST’s or delisting Chinese company stocks on US exchanges

*Will reparations move the US and China closer to kinetic warfare


Books by Jim Rickards:

Currency Wars

The Death of Money

Road to Ruin

The New Case For Gold



You can follow Alex Stanczyk on Twitter @alexstanczyk

You can follow Jim Rickards on Twitter @JamesGRickards

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