Jim Rickards: 'This Is The Biggest Bailout In History'

The Julia La Roche Show, Released on 3/16/23

Best-selling author Jim Rickards returns to the podcast for the third time to share his views on the collapse of Silicon Valley Bank and why the intervention - especially the Federal Reserve's new emergency lending program, the Bank Term Funding Program - is the biggest bailout in history.

0:00 Intro1:00 Reaction to SVB, Signature Bank failures1:54 The mistake Silicon Valley Bank made4:12 Bond Math 1014:45 The Fed is between a rock and a hard place4:52 Huge unrealized losses on the bond portfolio at SVB6:35 There already was leakage9:33 Friday's press release from the FDIC12:50 Global ripple effects of SVB failure14:50 Other banks had similar problems17:08 Biggest bailout in history23:00 Executive stock sales24:11 There would likely have been lines at banks25:00 The biggest crybabies were the billionaires26:15 The banking system is effectively nationalized32:00 This was risk management 10139:46 The Volcker mistake40:50 Inflation42:30 You'll see the Fed expanding the balance sheet43:30 Name your poison44:10 25bps at the next Fed meeting is the most likely scenario44:55 This is the no drama Fed45:45 ECB46:10 It's a global economy47:00 Panics have two stages47:30 Credit Suisse52:10 A road to ruin54:35 Each bailout was bigger than the one before55:30 A front based on confidence58:30 Deteriorating trust in institutions1:07:27 Gold

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 and The Death of Money. His latest book is Sold Out: How Broken Supply Chains, Surging Inflation, and Political Instability Will Sink the Global Economy.

bailout, banking crisis, economic collapse, financial crisis, global economy, gold, silicon valley bank

Jim Rickards: 'This Is The Biggest Bailout In History' added by Herman James on 03/15/2023View all posts by Herman James ?+'