Best-selling financial author James Rickards is not seeing a recession anytime soon. In fact, he is not forecasting a recession until after the 2020 Presidential Election. What does that mean for the chances of a second Trump Presidency? Rickards says, “If you put recession odds at 35%, and that is probably high, then the inverse of 65% is his probability of winning. . . . Every month that goes by, the odds of a recession by next summer go down. So, the odds of Trump winning go up. . . . I don’t want to debate the economics of the Fed and what they are doing, but the Fed is doing what it needs to do to avoid a recession, and that improves Trump’s odds. Right now, I have Trump as the winner.”
After the 2020 Presidential Election, Rickards is much less optimistic and so are the wealthy elite. Rickards says, “The rich are building bunkers. Entrepreneurs are actually buying abandoned missile siloes with armed guards and steel doors. . . . Here’s another interesting thing, hedge fund billionaires may trade stocks, bonds and currencies all day long, but when you ask them where do you have your own money, every one of them that I have spoken to have gold, physical gold. . . . They all have gold. They don’t trade it, but they have it.”
Rickards covers a lot of ground in this in-depth interview that is more than one hour in length. Rickards talks about the new gold (and silver) bull market, what everybody, especially the small investors, needs to buy now, and talks about a gold price that is exponentially higher than today’s price. Rickards discusses the world’s massive debt, probability of big defaults and huge inflation all coming in the “Aftermath” of the coming crisis. Rickards also tells people what they can do to protect themselves.”