• Home
  • |
  • Blog
  • |
  • Is Jim Rickards A Fraud? What You Need To Know

Is Jim Rickards A Fraud? What You Need To Know

August 14, 2022 by Phil

Despite being a mainstay in many business programs on TV, many still ask if Jim Rickards is a fraud.

It is a mystery since he does have a long track record as an economist, investor, lawyer, and editor. He is a well-known brand in financial circles.

But a closer look at how people perceive him gives us a clue on why he has skeptics. Type his name online and you will see colorful descriptions.

Some call him a dollar doomsayer because of his constant predictions of the currency's demise. People also call him a doom and gloom artist, specializing in dire market scenarios.

Others also say that more than an editor and author, he is actually a snake-oil salesman. His recommendations are based on faulty analysis, some say.

There are some other labels: perma-bear, the boy who cried wolf, and doom merchant.

In this article, we will look at relevant commentary about his persona. If you want to read more about his books, newsletters, and teasers, you may read our previous reviews:

Let's begin on our probe.

Doomsayer or Truth-teller?

Gold standard

In a 2014 Forbes article, writer Ralph Benko reviews Rickards' The Death of Money. Although the author presents some arguments, the reviewer was still not convinced of Rickards' thesis.

He does not believe that money was about to end. The writer even quotes another review that he feels encapsulated his sentiments:

Extraordinary claims require extraordinary proof. There is evidence here, but not extraordinary proof.

Even as the reviews have the same tone, Rickards defends his book. According to him, the death of money is not unusual at all. It has already happened three times in the last 100 years.

But that doom and gloom is not the focus of his book. What he wanted to emphasize was the future of money. The author says he is more interested in how the powers-that-be will reform the system.

Benko also critiques Rickards' assertion that the "resistance to the restoration of the classical gold standard" is due to a lack of political will. According to the author:

Gold standards are disfavored by those who do not create wealth but instead seek to extract wealth from others through inflation, inside information, and market manipulation.

But the Forbes reviewer says that this is not the case. For Benko, decision-makers in Capitol Hill are just not that familiar with gold. For him, political will is not the key.

Adopting a classical gold standard policy "merely requires more “demonstrable data and reasonable inference.”

According to him, there is a lot of research suggesting that world economies will benefit from a gold standard. So he agrees with Rickards on that point.

It is in this vein that most commentaries about Rickards is structured. Many say that the newsletter editor is indeed a smart man, even brilliant. But in the same breath, they also disagree with his style, focus, or tone.

In the case of this book and review, the author defends himself against critiques of the negative tone of his predictions.

But honestly, how can you not be frightened by a title like "The Death of Money: The Coming Collapse of the International Monetary System"?

Besides, it's not like the lawyer-investor has not built a reputation and career on being a doomsayer.

Sound but bleak

In a January 2021 Financial Times review of his book, the title goes like this:

A bracing collection of salvos on the ‘new Great Depression’
An enjoyable, if unduly pessimistic, forecast on the post-pandemic economy

Writer John Plender calls his measures on dealing with inflation and deflation "sound" advice. He adds that The New Great Depression has "many genuine insights" and is an "enjoyable book to argue with."

Moreover, Plender admits that a slow growth prediction after the pandemic might have grounds.

However, the writer also admits that Rickards' commentary on the pandemic policies has been "provocative." He says that what the author paints is indeed a bleak picture.

So it does appear that there is a basis for how many characterize Rickards, his books, and his newsletters.

Apocalypse

We also found a 2014 review of an article the editor wrote. Apparently, he predicted that by 2020:

all the gold of the G-20 nations will be confiscated and buried in a former nuclear bunker under a mountain in Switzerland to take it out of the global financial system.

The review said that this was from his newsletter, Strategic Intelligence. It also asked the question:

Has the normally sober and thoughtful Mr. Rickards lost his marbles?

Well, it's past 2020 and this has not happened. So what was the investor thinking? Even the reviewer at the time commented that it was indeed absurd, a "totally unrealistic world gold confiscation scenario."

The Arabian Money review adds that the investor also predicted that by 2024, there will no longer be money, markets, or bonds. You can only survive if you bought gold, land, and fine art.

The reviewer opines that these scenarios are not possible. It's interesting to note that, of course, you will thrive in the apocalypse if you heed his newsletters' recommendations.

So it seems like his assertions have more to do with subscriptions and book sales. Do we think this is the case?

Well, it's hard to tell, really. He has long held such views and we cannot determine what his intentions truly are. Even his worst critics acknowledge his intellect. 

In the end, the article calls his assertions "alarmist nonsense."

Legit or scammer?

From the people

These days, one cannot easily dismiss Reddit boards anymore. Though anyone can just post anything on the platform, it is increasingly becoming an influential community.

A case in point is the r/investing thread. Created in March 2018, it has two million members. Even if not everyone is actively posting, people see what others post.

We found two questions that pertain to Rickards. One asked, "How credible is James Rickards?

One particular comment here pointed out that the editor is a purveyor of "financial doom porn." Though they admit that Rickards seems to have a credible background, it does not help his case that he focuses on crises.

User "dvdmovie1" also adds that the editor has always predicted a crisis for years. It has been the topic of his newsletters and books.

Though these are "compelling and engaging," the commenter says that these are irritating. Using a "financial crisis that's continually just around the corner" is not helpful at all.

Worse, they feel that the tactic victimizes older people. Naturally, since they are concerned about their savings, they will heed Rickards' advice.

Unfortunately, the commenter feels that treating gold "as the one true savior" is wrong. 

Meanwhile, another user minces no words. According to "WilliamNyeTho":

He is very good at speaking, thinks very highly of himself, talks in a way that makes him seem smart, and has a dogshit track record.

The other thread wanted to know if he is a "wise insider or gold peddler?"

A comment there advised readers to read more history. Throughout the years, "Spezza" argues that markets and economies have collapsed. But the system allows it to recover after that. They add:

Economic apocalyptic thinking isn't materially useful. It is just one end of a spectrum, the other being an exponential bull market - which nobody thinks likely either.

Another commenter admits that Rickards's ideas were interesting. However, they ignored his commentary on gold as his peddling was off tangent in his book, Currency Wars.

Admittedly, these are not blockbuster threads. But there is value in them, as many can access these comments. In addition, we do get valuable insights from regular investors who post there.

All about the money?

In our research, a harsh Rickards critique came up from the San Diego Consumers' Action Network blog. It comes with the title: SCAM ALERT: Learning Not to Fear Rickard’s “Day After Plan.”

The 2014 article begins by enumerating a few of the lawyer-editor's supposed claims in The Death of Money. Apparently. there was going to be a "70% stock market crash."

The article also claims that Rickards was warning people about a "$100 trillion meltdown" and an "upcoming catastrophe." We are not aware of these because "our leaders have kept us in the dark about this dangerous situation."

So what's the issue? The article contends that these are merely scare tactics. Further, it asserts that Rickards does not actually want to safeguard your wealth.

The article says that his ultimate goal in being a doomsayer is to get more book and subscription sales. You need to be aware that "Mr. Rickards wants your money," it adds.

The review backs this up with Rickards' prescriptions as proof. You will be safe from the bloodbath only if you invest in "gold, real estate, art, hedge funds, and cash."

However, the article says that these are all complicated investments. Naturally, you need his advice as you proceed. So in order to survive, you of course need to purchase his books and subscribe.

But he’s not selling a policy book. He’s exhorting individuals to substantially change their investment portfolios and plunge their assets into very challenging and risky investment vehicles.

So is the blog calling the book and its author scams? Well, not really.

Is it a scam? Perhaps not, as he is offering information, even though it may be skewed. Is it fraud? Again, probably not, as these people may actually believe their dire warnings.

But the point is clear. For the writer, Rickards's agenda is not the welfare of his readers and subscribers. The editor-author merely is leading people in complicated portfolios so they would need him. 

Defense mode

But what is the deal with the constant warnings of impending doom that do not seem to happen?

The economist-investor gives a sober response in the video below starting at the 36-minute mark.

In the interview, Rickards seems to distance himself from the more dire predictions. He says that most of the time, people put words in his mouth. 

He even clarifies that he has never once said that "the world is ending, sell everything and buy gold." What he asserts is that it would indeed be a different world when the next crisis happens. 

You do not need to sell everything but would benefit from putting 10% of your portfolio in gold.

So why has the crisis not happened yet? The interviewers asked if it was "just around the corner" or if he was just wrong? Rickards answers that it might only be delayed.

To add texture to his defense, he gives some history nuggets on previous financial crises. Then he pointed out that logically, it means that the next one is indeed about to happen.

He even jokes that he is certain no one would be willing to bet that there will never be a crisis again. For him, the point is to prepare early because it is inevitable. If you don't, you won't be able to protect your wealth.

What he can do based on science, he says, is to "estimate the magnitude." But he admits that knowing the exact day and hour is challenging.

We do see his point. However, we wonder why he does not seem to make an effort to correct such impressions of him as a doomsayer? In fact, all his books and newsletters capitalize on this branding.

Does he want us to believe that everything is the fault of his copywriters or PR people?

Controversial Involvements

Government agencies

His profile makes a lot of claims that point to his being the ultimate insider.

Rickards says that he was an adviser to John Mccain's presidential campaign. Also, he claims to be on a first-name basis with Donald Trump's cabinet.

Moreover, his bio states that he "fraternized with four-star generals and NSA director, Michael Hayden.

Before the 9-11 attacks, Rickards claims that the CIA asked for his help. There were anomalous investing patterns on Wall Street then, so the agency solicited his expertise.

He talks more about it in the video below:

According to him, the CIA reached out because they wanted to know if the markets can predict another 9-11 attacks.

This would be possible if there was suspicious insider trading again. Apparently, the agency saw that two days before the terrorist event.

Since he says he was an expert in the markets, he was among the consultants in Project Prophecy. Its mission was to save lives through the initiative.

While he was working on the project, Rickards says he was also able to learn statistical techniques. He then realized that aside from counter-terrorism, such tools are also useful for other things.

Among them are predictive analytics in geopolitics and capital markets.

Naturally, since this is a high-profile work, Rickards capitalizes on this a lot. He mentions this to boost his profile, along with his involvement with the U.S. Department of Defense and the Pentagon.

Genius hedge fund

John Meriwether founded the hedge fund, Long-Term Capital Management (LTCM). It has a rather interesting history, as covered by Business Insider.

Previously, Meriwether was with Salomon Brothers, serving as vice chairman and head of bond trading.

Back then, LTCM was a huge deal in the industry. Its key leaders included professors, Nobel Prize winners, and finance professionals with doctorate degrees, among other people.

Meriwether founded the company in 1994 with a whopping $1.25 billion initial capital investment.

From the beginning, LTCM was a firm that demanded a lot. It also Asked for a 25 percent asking fee on profits, in addition to its substantial capital.

Moreover, the company requested a two percent charge on assets on an annual basis. Those who wish to invest must also ensure that they retain their capital for a minimum of three years.

LTCM was able to grow to be worth $140 billion in assets in just two years as a result of its aggressive stance.

However, the honeymoon period was short-lived. During 1997 and 1998, the world witnessed devastating crises in Russia and Asia.

By 1998, LTCM's losses on swaps and volatility trades had totaled nearly $3 billion in value.

Because of the exposure of different companies within the firm, if LTCM goes bankrupt, the entire Wall Street financial system will go down with it. This was how significant this issue is.

It was during this period that the Federal Reserve finally intervened to arrange for a bailout to take place.

This is where Rickards came in. His role proved to be consequential as he served as the company's chief negotiator and legal counsel.

There was a lot of wheeling and dealing, for sure. However, in the end, LTCM became successful in securing a $3.635 billion bailout from the Federal Reserve Bank of New York.

Even though Bear Stearns and Crédit Agricole refused to participate in the transaction, others contributed.

Eventually, eleven of the banks agreed to put in $300 million, Lehman $100 million, and two French banks at $125 million each, for a total $3.65 million bailout.

LTCM was able to regain its footing shortly after.

We believe it is important to mention this because this is a watershed moment not only in the financial sector but also in world affairs. 

Due to his prominent role in the ordeal, we admit that this signals that he possesses the gravitas and know-how necessary to negotiate the complicated bailout.

Based on relevant literature, including one written by Addison Wiggin on Forbes, he indeed appears to be competent. However, we want to note that the writer is from Agora, a publisher with which Rickards has links.

It also seems like his knowledge of international affairs, economics, and law came in handy. After all, he does claim that he is an expert in these.

As a potential investor, this could be a promising sign for you. 

Consider what it would be like to follow the financial advice of someone of his caliber. Without a doubt, his previous experience with the LTCM distinguishes him from other newsletter editors.

This is a frequently heard comment. Unfortunately, several so-called experts lack a substantial amount of practical experience. Despite this, they continue to dish out investment commentary with a lot of sass.

So, to be fair to Rickards, this is a significant boost to his overall credibility.

Ultimately, he says he learned a valuable from the situation. The model Wall Street banks and the Federal Reserve use to assess risks is completely inaccurate. It is the reason why such a "genius venture" failed.

Eventually, this guided his strategies and perspectives.

Conclusion - Is he a fraud?

It seems like he has been called all names.

We have already enumerated them in our introduction. But even that is not a complete list. You may head to our previous articles on his credibility and Strategic Intelligence newsletter to see more. 

But until now, he is a sought-after guest and speaker everywhere. People and even other experts still want to hear what he has to say. He often mentions his roles in the CIA, Pentagon, and Department of Defense.

In addition, he has money. For an investor, we think this is a critical point to see if their analysis works for them as well. According to an article on his net worth, he has about $19 million as of January 2022.

Though he has a public persona, he mostly keeps a private life. We know, though, that he has been married for 43 years, he lives in New Hampshire, and is a registered Republican.

When we scanned relevant information about him, we found a lot that justifies some labels. He predicts a lot of things. Included here are the dollar's collapse, gold confiscation, another great depression, and the like.

Those familiar with his work generally agree that he does provide a set of arguments. But not everyone is impressed by his justifications. For most, he needs to give extraordinary evidence for his extraordinary claims.

When confronted about some predictions that did not happen, he defends himself well. According to him, it really is difficult to know the timing of such things.

Moreover, no one argues with him that a financial collapse will happen again. Many seem to agree that it is a part of the market life cycle.

The main point in his books and newsletters, according to him, is to prod people to prepare. It's either you are ready, or it's too late. besides, a lot of the extreme statements attributed to him are wrong.

Or at least that is what he claims.

So there are people who also say that he appears to be smart. But his predictions and investment recommendations are not useful. Many say they will listen to Rickards but not necessarily follow his advice.

In the end, we go back to our main question. Is Jim Rickards a fraud? Based on our discussion, have you arrived at a conclusion? Do tell us your thoughts below.

Phil


A writer and researcher, Phil enjoys exploring topics about finance, investments, and consumer behavior. His two young kids serve as inspiration for his advocacy on education and the youth.

  • He predicted Brexit, Donald Trump’s electoral success and the war in Ukraine albeit, very early on. The Green Bull writer seems to think we are not in a crisis!

    • I predicted Trump’s win 1yr before. Brexit, since I am British, I expected it well before the vote, because Nigel Farar was lying to the public that the money saved leaving the EU would be used to bolster the NHS. He knew it was a lie but the British value the NHS so much that they would have done anything to save & improve it. Last but not least even a blind man can see when a country flexes its muscles financially (SANCTION) & militarily intimidating other nations a resentment grows in the rest of the world & they band together to push back against the bully. America picks fights or starts proxy wars with competitor countries (Evil Empire) or groups (they label Terrorists) to stay relevant and in control both as the Superpower & keep the $ as the international trading currency. Rickards is right when he says America would go into a tailspin if it lost its international currency status.

  • I do not claim to be a financial advisor, or having some exclusive insider information. But i have read a lot about world history, including financial crisis and government conspiracy theories. Problem with claiming that governments are hell bent on taking your freedoms and other such claims assumes that it acts as one cohesive Machine with one uniting purpose. Anybody who follows politics can plainly see that our government just isn’t competent enough, and for the most part simply ineffectual. To say that they are capable of coming up with any kind of united policy and keep it a secret from public, and the press is unrealistic. We witness government incompetence every day. Simply put they are just not that good at doing anything in secret, and even within same party political view’s very, so to claim that they are developing some doomsday policy that will end our way of life is just a blatant disregard of historical facts. The only way for our government to drastically affect how we leave our lives is to get us all to agree on specific corse of action, to adapt same ideology, aka fascism or communism. I’ve leaved in this country for over 30 years and before that I leaved in Soviet Union, and in my educated opinion the way this country is governed, the checks and balances that are instilled in our Constitution would make it impossible for any wide spread conspiracy to come to fruition. So please stop panicking, leave your life the best way you can, raze your kids, do your job the best way you can, contribute to well-being of Society in any way you can, enjoy your freedom, you do have it, I know because I’ve leaved half of my life in autocratic state, so I do have a point of reference. US will never become USSR. Yes periodically we go through some kind of financial or political upheaval, but so far we have managed to remain true to our founding philosophy and being a father, I have to believe that my boys will still be leaving in a free and democratic country.

    • Have you not been paying attention the last several years? We don’t have to all agree on a course of action. Look at how a few nut jobs, with the help of the complicit press, has convinced many that girls can become boys and boys can have babies.

  • What a scammer. Although his credentials appear ok and he and the other six email addresses that automatically begin to attack you with the same information, long videos you cannot scroll to to get to the end message and when you finally do, it is to ask you for a. Further paid subscription. No, this is a pure unscrupulous money making high pressure operation for gullible victims.

  • From my quick summation: JR isn’t necessarily “off-base” with his assertions and dire predictions, but they are just too “piercing” for our emotional psyche… and we to actually be falling off the cliff in despair before we can actually be told where the edge is.

  • He recently discussed digital currency. We know this going to come about. Now I don’t know if he is correct about beating the system of growing your wealth outside of the digital currency

  • The tactic of fear-based selling with a deadline is horrible. The $1,995 for the newest I-3 one-year-subscription really comes to $2,178.54 with taxes. Then you have another option to spend it again, same day mind you, for a benevolent life-time-subscription. If you don’t take it, it’s gone. I would LOVE to get in on insider trading and make my stock investment returns of 564%+ in less than 30 days, but I don’t have another mortgage payment to sew. The vast majority of Americans are living paycheck to paycheck. What good is all of his information if we cannot put it to good use?

  • When I look at Jim and how he behaves I see a seller of second-hand autocars. It “hangs around him.”

    Maybe he is good in what he says, but I do not believe him.

    As far as I understand he is mostly interested in himself trying to find new ways of selling his material.

    The biden bucks are a hell and I really believe in a good future for the USA.

  • It’s a con man! He draws you with his doom stories, because he is all-powerful and knows everything, into his web, then you are engulfed. And every time you have to pay extra, pay and pay again. The PUT Option advice he gave literally followed all loss! Also the choice of option strategy is wrong!

  • Please, Friends do your research. Read, and better yet, copy and share Executive Order 14067 with your friends. The author asks you to make a determination. Also, think about Janet Yellen’s comment just yesterday.

  • I watched his hour-long presentation (seemed endless even at 2x speed) of endless repetition and came to this conclusion: HUCKSTER!

  • My quick answer: Jim Rickards is not a fraud, but we need to use our critical mind and not take everything he writes at face value. I have purchased at least 3 of his printed books over several years. I registered for his services (but stopped the subscription for going on indefinitely). I indeed love how his books are documented and the engaging style he uses. Many of his advices are in my opinion valid, but many are not. I particularly disagree with his unwavering support for legacy dirty and dangerous energy, and his very superficial analysis and conclusions when it comes to clean energy and what he calls the “Green New Scam”. I agree with him that major crises are looming, and that precious metals, diamonds, land and art may protect us from hyperinflation. But then he also advises investing in energy stocks of companies which have not always done well and which are risky. I also am very concerned about his support of Edge Funds and other companies which ethics are questionable. Do not even take my opinion as absolute truth, do your own research. I personally believe in very little of what I see on the news, a little more of what I read, especially if people took the time to write a book. There is no such a thing as scammers, liars or frauds, only people who at times may scam us, lie to us and act (at times) in fraudulent ways. The bible shows a good example of people who did wrong and then followed a more enlightened path. Unless this is your job, do not judge people, only observe and comment on what they do or say!

  • I listened to several of his analysis and thought he might be on to something. Subscribed to a couple of 500/yr services… tracked his “investment research” and put some money in… 100+% return in 60 days! ….. on paper …. Got the pitch for lifetime all access Rickards stuff… paid the extra money and now I’m part of his “inner circle” …. Of suckers. Over the next 60 days I put $10k into his recommendations, spread evenly over all. Lost all but $1k. So here I sit having lost $15,000.00 in just over 3 months to his “insights” and having to endure an onslaught of never ending sales pitches from Paradigm Press….. and a lifetime of his recommendations and analysis….. don’t waste your money. I don’t see him as a fraud or charlatan, but it’s certainly not worth paying anything for his investment “research”. I am going to put together an analysis of the trades that he recommended and how I executed them (exactly as per his instructions) to show others that my losses were a direct result of his advice. I knew the risk of loss and took it anyway. Lesson learned.

    • Sorry to hear about your losses, but you have helped me in deciding not to buy his subscriptions, thanks for your comment.

    • I wish I had found this site before I started using his recommendations. I lost a lot more then you about ten times more. I have emailed them a few times and questioned their advice on some of their trade suggestions but they never reply. So you are right I would have been better off taking a hand full of money each day and lighting it on fire.

  • Yes I believe that Jim Rickards is a fraud! He always comes out of the woodwork when we have a Democratic elect President. Does anybody remember when he spoke about the dollar is collapsing right before our very eyes when Obama was in office? Fear mongering garbage! It didn’t happen!

  • Fraud isn’t the right word. He’s a promoter. But as far as I can tell he’s basically promoting owning gold. But his big bugaboo is CBDCs which I share his fear of. However, gold will offer no protection there.

    He’s also an alarmist. He’s all the time talking about a very important, very time critical matter than you have to sit through 30 minutes of verbiage to discover, when he could put it all in a single paragraph.

    I signed up for his $49 service. I agree with much of what he says, but it’s not been very helpful since I agreed beforehand.

  • Jim Rickards may indeed have a point about CBDC’s and abilities of governments and those in authority to manipulate people. But he uses fear to manipulate others to buy into his ideal solutions. I can give you a better book that has never been proven wrong. That book predicts one world governance, new world order. And 2000 plus years of accuracy. Those who want the truth, pick up a copy of the biggest best seller, highest ever printed in history. King James vers.of Holy Bible. Any nostradomus wanna be can know predictions of future will unfold before your eyes. Geo HW Bush quoted ” be ready for a new world order.” Nothing that Mr Rickards or anybody else says can eclipse the words of Truth in God’s Word! No other book written has fulfilled every prophecy.

  • He is a die hard republican politician and capitalist and cannot substantiate a single theory he predicts……

  • The death of money is taking shape; it`s called Central Bank Digital Currency (CBDC) It can not be stop. We all will go to sleep, wake up and here All moneys need to be turned in for a digital card. All moneys in the bank cannot be accessed without the card. It`s one step away from (MOTB) Mark of the Beast Rev 13:16-17.

    • Thank you rick. also letting you know the four horsemen have returned already. the immortals are starting to be re-awaken, and again people are still too blind to see this taking place until the end of days in 48 years unless proper change takes place and I don’t mean things like China running the international bank of settlement, hacking Ukrainian computers that came from China to help this war with Russia, this is all a Chinese dictator power move. no wonder his own sister tried to kill him.

  • Latest video on currency wars…. blah, blah, blah. Cut 90% of the BS and get to the point. And stop creating videos that can’t be rewound or speeded up.
    Waste of time. Cancelled my subscription. Mail box is so much cleaner now.

  • I have been following Jim Rickards since about 2015 and have a couple of his books. In conclusion I don’t think he is a fraud, but have shifted from holding him up as the great expert or hanging off his advice and predictions as if they are 100% reliable. I sit somewhere in the middle and my views on him are of someone who is highly intelligent yet see failures in many of his prediction.
    I have also subscribed to one of his services and have lost some respect for him. I have ended up being bombarded with numerous e-mails that try and get you to subscribe for more subscriptions. These don’t make him a fraud and these subscriptions may even end up with great returns on investments. However, if you end up by watching all of the promo videos you could well spend hours a week watching the sales pitches and forking out more money in subscriptions. The videos really annoy me; they start off by saying “just watch for a few short minutes”, when they end up running for an hour or more, repeat the same lines and themes over and over in order to make their point, and hype you up into subscribing to more their ”Unique services’ ( always with limited spots of course!) They are just over hyped sales pitches and because of that, I have lost a certain amount of respect for the man. Even in the build up to the recent BRICS summit, several E-Mails were put out by Jim and his colleagues with a call to take urgent action before August the 22nd, when the BRICS summit and potential announcement of a BRICS currency would be announced. There was a general sentiment of ‘hurry, take action before August 22nd, or it could be too late!’ Yes there was the big news of another 6 nations joining the BRICS nations, but it’s not like Armageddon broke post August 22nd.
    I still agree with him that there will be a great collapse at some point, it may be next year, it maybe 30 years away. Many of his thoughts on diversifying a % of your portfolio into gold etc are probably sound. The world is so loaded up with debt and the global banking systems has forgotten about the lessons of 2008; that it has to burst at some point.
    I will still tune in and listen to some of what Jim’s commentary but wouldn’t hold on to everything he says, as if he is the world’s greatest financial advisor.

  • Richards is a narcissistic money grabber hiding behind a Paradyme Publishing company with no guarantees, and constant renewal unless YOU CALL THEM TO CANCEL. Since April 2023 at $3000 a yr for SITUATION REPORT, all options have been loses while he hypes associate new letters with 500%returns before you can finish your speculation!
    Better odds in Las Vegas which has a “few perks” to make you feel better about your loses!
    AVOID, AVOID, AVOID!!!

  • I can’t hedge this. Rickards is the worst kind of fraud. But he does have a keen knack of playing both ends of an argument, making him a double fraud.

    For example, he claims that Biden is horrible for killing the doomsday deal (could he be a front here with the main purpose to get reader to vote for Trump), but he’ll make you a mint by showing you how to profit from Biden’s breaking the doomsday deal. Bingo. He “loves” Biden for making his investment advice valuable . . . again (as his same advice surfaces every time there is a Democrat president).

    As for his ideas, almost all are fake. Too many to critique him at length without my blowing a fuse in the process. Any sensible reader of his sales spiel would only laugh and flee, leaving only the gullible to take the bait who wouldn’t listen to me, anyway.

    I must add that he also saddens me, as I am a Penn Law grad, too; as well as a Wharton grad. So now, even without touching his investing advice, I myself have to deal with a double fraud from each of my alma maters (U-know-who is the Wharton grad who claims to have been top of his class, but won’t disclose his Wharton grades).

  • If this guy was at all concerned for anybody as a CIA guy he would know that there are a lot of people that need to physically have things in their hands like physical bills or coins in order to make full sense to be able to get tasks done. The minute that there is no such thing as physical money is the minute there will more than likely be one hell of an upbringing because that just killed a lot of people and/or put them into poverty. I can guarantee you that those people would not be the only ones upset about that either.

  • {"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}
    >