written by reader Thought on Jim Rickards anyone?

By marstin97, November 19, 2015

I have read quite a bit from Jim Rickards, including ”The Death of Money: the collapse of the International monetary system”. I try not to react to certain things, it gets confusing when I read certain things that seem, at least on the surface, to make sense. In Jim Rickards book he does have some very dire predictions based on certain shenanigans in the global financial system which have not really been addressed since the collapse in 2008, including $17 TRILLION of high-risk derivatives out there thanks to the still To Big To Fail Banks. Also, as we see, the geopolitical forces in the world are a mess. And the Federal Reserve keeps playing with economic indicators. That said, is a prediction of a 70% collapse of the stock market due to these ”dark” forces a real possibility or just hype? I have learned enough through various readings to be fairly confused. The sense by Jim Rickards and some others is that the financial day of reckoning is not too far down that road. I don’t want to become Chicken Little, but some of what he says makes sense. Any more well-informed thoughts out there? Thanks!

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lindacampbell
lindacampbell
4 years ago

Hi marstin97,
I can’t directly answer your question about a 70% collapse in the stock market & other Rickards scenarios in Death of Money because I haven’t read that book and won’t. I did read Currency Wars and was temporarily concerned and signed up for his stock market advice. When I saw his portfolio was down a couple hundred percent, I called back the same day and cancelled. It appears he’s not practicing what he’s preaching very well.

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dukeoneil
4 years ago
Reply to  lindacampbell

Martin & Linda,
Thanks for the question…and answer. Martin I feel very similar to you and Linda can you elaborate on what portfolio you’re talking about? Thanks!
A great Thanksgiving to all…
Duke

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Linda Campbell
Linda Campbell
4 years ago
Reply to  dukeoneil

Hi Duke,

The Rikards Portfolio was entitled “The Currency Wars Alert” and it used his IMPACT
system which was to give us “peace of mind” since we’d “make big gains from the
global currency wars.” When I added up his results to date, they did not offer me any peace of mind!
Why do you ask, Duke?
Have you seen other portfolios of his?

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Linda Campbell
Linda Campbell
4 years ago
Reply to  dukeoneil

Hi Duke,

The Rikards Portfolio was entitled “The Currency Wars Alert” and it used his IMPACT
system which was to give us “peace of mind” since we’d “make big gains from the
global currency wars.”
Why do you ask, Duke?
Have you seen other portfolios of his?

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Tom W
Tom W
4 years ago
Reply to  lindacampbell

Um, how can an investment be ‘down a couple hundred percent’? So his portfolio lost everything? And then lost everything again?

Linda Campbell
Linda Campbell
4 years ago
Reply to  Tom W

Tom,
THANK YOU for catching my error. Yegads! I wanted to say his portfolio was down a
couple dozen percent – like 24-25% which troubled me. A plain old S&P500 Index fund with fees and all at that time was performing much better. Thanks again.

John Barnes
John Barnes
4 years ago
Reply to  lindacampbell

The portfolio is up 25%. If you look at individual suggestions they can have heavy losses but these are options. They go exponential when you are right.

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SoGiAm
4 years ago
Reply to  John Barnes

Re: Options – They GO exponential in a BAD way when you are NOT korekt, as well!

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George
George
3 years ago
Reply to  SoGiAm

SoGiAm,
Yes, you are correct.
But, why did you choose to spell “correct” as “korekt” when the incorrect spelling only save one letter ?

SoGiAm
3 years ago
Reply to  George

To increase awareness and perhaps make it more memorable, George.

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Harry Koetser
3 years ago
Reply to  lindacampbell

Linda,

don’t you mean ‘practising’, not ‘practicing’?

guatdodger
4 years ago

Have any of you had any experience with “Jim Rickards’ Intelligence Triggers”?

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investor101
4 years ago

I am not impressed either, and if I see another email about his Kissinger Cross method I think I will start throwing up and never quit. It looks to me like Agora is going to do nothing but flood our inboxes with all this stuff. I wonder when is enough with them!

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marlyyxx
marlyyxx
4 years ago

Is Agora just milking their subscriber list with yet another exclusive advisory program: Kissinger Cross? Why didn’t Government apply it to forcast all the recent terror attacks?
Stockgumshoe just saved me from yet to another program.

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ZAMat
ZAMat
4 years ago

You all know this, but I remind you anyway: Jim Rickards has put this idea on the internet in the hope of selling it to the large sea of mugs out there, because he cannot make money with it in the markets. It looks like a misapplication of Bayesian statistics. Lord knows how he determines his probabilities, but I can guarantee you that the chances that he determines them correctly from whatever data he has are very small. Hence: no money! And an incorrect market call nearly all the time. It’s easy to find good examples of where the the system may have worked, but he could have done this on any number of stocks and their charts in hindsight, hence the examples you see are probably genuine (depending on how he had to manipulate his probabilities to get the desired “Kissinger Crosses”), but they are not genuine money-making trades. He almost certainly never had the correct probabilities before the “buy” cross, hence he could never have made the trades.

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Mindroling
Mindroling
4 years ago

Why would anyone want anything to do with Henry Kissinger? His name alone should drive you away!

Harry Koetser
3 years ago
Reply to  Mindroling

What is really depressing is the generally abysmal level of spelling and grammar. Truly, literacy has been the really great loser. We can’t put it all down to Theodore Roosevelt with his ‘Nuspell’ of 1922. The real culprits are laziness and texting. Plus really crap teachers and universities that should know better.

Desmond
Desmond
4 years ago

Jim Rickard is really advertising without much thought, h