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Jim Rickards: The Fed Basically Still Uses LTCM’s Financial Models
TND Interview Spotlight: Jim Rickards w/ Sprott Global |
Hi Jim. You have recently published Currency Wars and now The Death of Money. Are you expecting a global collapse of every currency? And if so, a collapse relative to what?
I expect a collapse in the value of currencies relative to real goods, real assets and real services. This will happen to all currencies, not just the dollar. I don’t expect a word where people lose confidence in the dollar and the euro does really well. On a relative basis, I’ve been bullish on the euro for some time. In the endgame, however, if people lose confidence in the dollar this will be inflationary in all countries around the word and I don’t think that any currency will be able to withstand it. When I say ‘the death of money’ what I really mean is the loss of confidence in the purchasing power of money. That’s very likely to be a global phenomenon not confined to any particular country.
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My new interview @Sprott points out that #Fed & Wall Street models today are same ones that failed at #LTCM in 1998: http://t.co/dSQTEMtdZ7
— Jim Rickards (@JamesGRickards) November 4, 2014
Source: http://thenewsdoctors.com/jim-rickards-the-fed-basically-still-uses-ltcms-financial-models/
