The Phaserl


“Global Bubble” … “Ends Very Badly” and Hyperinflation Risk – Rickards

from Gold Core:

Topics covered included the risk of the global bubble bursting, his admiration of the ECB’s Draghi, how Europe is moving in the right direction, the coming of a true Eurobond, how the “day of reckoning” is coming for China and the U.S. and the risk of financial warfare, deflation, hyperinflation and market collapse.

Interviewer (Francine Lacqua): Jim, you also have this new book out, right, saying “The Death of Money” and this basically argues that if a number of things come together, we could have financial warfare, deflation, hyperinflation, market collapse. And yet the markets are merrily going along. Are we in a fictitious world?

Jim Rickards: I actually had breakfast with some of the leading private equity investors and CEOs this morning and, you know, privately they’ll say, look, the bank covenants are gone, cost of funds is very close to zero, they’ve got more leverage than they’ve ever had, the U.S. inner stock exchange has greater leverage than they’ve ever had, so it looks good but this is a bubble being supported by zero interest rates, high leverage.

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