Jim Rickards: 'It's not a recession, it's a depression; let's call it what it is'
In this video we get an update from Jim Rickards on his take of what's going on in the markets. He believes we are in a depression, not a recession. He says that we have not seen anything like this since the great depression of 1929. He talks about why gold is very important to have, and why the US dollar cannot be measured based off other currencies. You need to measure the us dollar based off gold. He also talks how you can best prepare yourself for what's coming next...
Jim Rickards is a lawyer, investment banker and economist with over thirty years' experience in capital markets. He is currently Chief Global Strategist at Meraglim. He advises the Department of Defense, the U.S. intelligence community, and major hedge funds on global finance, and served as a facilitator of the first ever financial war games conducted by the Pentagon. A frequent guest on financial news programs, Rickards is also the author of The New York Times bestselling novels Currency Wars: The Making of the Next Global Crisis