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
Aftermath