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
Irregular
lindacampbell
November 19, 2015 1:35 pm

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
November 25, 2015 1:53 pm
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
Irregular
Linda Campbell
November 29, 2015 7:32 pm
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
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Linda Campbell
November 29, 2015 7:32 pm
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
Guest
Tom W
February 21, 2016 9:31 am
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
Irregular
Linda Campbell
March 15, 2016 7:55 pm
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
Member
John Barnes
March 9, 2016 6:03 pm
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
Irregular
March 9, 2016 9:40 pm
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
Guest
George
November 8, 2016 12:09 pm
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
Irregular