The Wiggin Sessions: Jim Rickards - Inflation, Interest Rates, and China-Russia Relations

Jim Rickards - Inflation, Interest Rates, and China-Russia Relations

Mar 6, 2023

The release of the Fed minutes from their most recent meeting was expected to be a major talking point.

But a series of game-changing events occurred within 48 hours of their release.

First, a blockbuster unemployment report was released, showing 550,000 jobs created, more than double the expected number, and retail sales also came in higher than expected.

With inflation seemingly out of control, the Fed will probably continue raising interest rates, which spells trouble for the stock market and the economy as a whole.

And there's more - there's the growing relationship between Russia and China to consider.

With all the potential consequences on the horizon, there's no shortage of topics to delve into with Jim Rickards on this episode of "The Wiggin Sessions."

Jim Rickards is a well-known American economist, lawyer, and author of best-selling books such as The Death of Money and his latest release, "Sold Out: How Broken Supply Chains, Surging Inflation, and Political Instability Will Sink the Global Economy." Jim is a frequent guest on various news networks and editor of the financial newsletter Strategic Intelligence.

Join us as we talk about the Federal Reserve's inability to control inflation and the outlook for the markets in the wake of the hawkish Fed's consecutive rate hikes, plus how even small amounts of inflation erode the value of the US dollar.

Listen in as the conversation gets political as we discuss the cozying up of China to Russia, with Jim providing a memorable analogy of a three-person poker game. Jim shares his predictions on the 2024 election and the potential impact of a central bank digital currency, or as he calls it, "Biden bucks," and the effect it could have on personal privacy and finances.

Key Takeaways

The folly of the Fed's 2% target and the consequences on the economy

Jim shares what he sees as a tough road ahead for stocks

The difference between demand-pull and cost-push inflation and the limit of the Fed to address supply-side inflation

Why financial sanctions don't work against large economies like Russia

The missed opportunity by the US to ally with Russia to counter China's rise

The blunder of escalating support for Ukraine, the US media's biased, and the potential impact on the 2024 election cycle

Jim shares the possible threat of the China-Russia alliance on the US dollar.

The danger of CBDCs (central bank, digital currency, or "Biden bucks") when used as targeted control and surveillance

The Wiggin Sessions

Jim Rickards - Inflation, Interest Rates, and China-Russia Relations

Jim Rickards - Inflation, Interest Rates, and China-Russia Relations

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