Jim Rickards Reveals What He Does Differently in Exclusive Interview With Keith McCullough

James Rickards, best-selling author of Currency Wars, spoke with Hedgeye CEO Keith McCullough about how he finds the truth, the continuation of the currency wars, what the Fed gets wrong and much more in this exclusive interview.
Jim’s first appearance on Hedgeye TV in May 2014 was met with wide acclaim, and he did not disappoint in his return to Stamford for Hedgeye’s first ever,live “Market Marathon”held in January. After 45 minutes of raw & unfiltered commentary on markets and the people that move them, Rickards and McCullough turned it over to the viewers, offering an extended viewer Q&A session powered by user-submitted questions.
01:26 Currency Wars can go on for 5, 10, 15 years
4:38 No one at the Treasury understands international monetary systems
5:25 Leading indicator of extreme volatility?Low volatility
6:45 What is that Jim Rickards knows…that you don’t?
8:20 What is Base Bayes’ Theorem
10:57 Analyzing insider trading on 9/11 using Base Bayes’ Theorem
13:12 Rickards: I am expecting no interest rate increase in 2015
14:55 Why Rickards can make a better call then Janet Yellen (she’s using equilibrium models)
15:40 Fed Insider: QE is Murky
17:01 Bayesian vs Frequentist
19:45 Economists are wrong 70%, The Fed’s forecast have has been wrong 100% in the last 5 years
21:00 Economists would rather be wrong in consensus than be right out of consensus
24:00 It is very difficult to change a paradigm
24:57 Rickards’ wake-up call
27:37 Complexity Theory and BaseBayes’ Theorem have not penetrated economic thinking
31:44 Rickards: Stocks are not right for everyone
35:25 The U.S. 10 Year Treasury Notesyear yield could go to 70 basis points
37:09 Larry Summers: We are going to have to have negative interest rates
39:33 How does the U.S. Presidential Election debate react?
46:29 Q&A Session

[@dairemerkezi368]

I enjoy listening this so much , I can't believe it's free ! Thank you very much for posting it on you tube.

[@2001lextalionis]

Rickards is a source just like any other. It was great that Hedgeye put this discussion on youtube

[@123Goldhunter11]

Great interview. Rickards is right on. No one knows whether we go into deflation or inflation so you have to be prepared for either. Of course you can go directional if you have a crystal ball.

[@CaribSurfKing1]

Jim has been right in everything in the last 5 years other than inflation and Gold

[@francisd2386]

We got it the first time. Sorry if you took investment advice from him, I didn't so I can listen to what's he's saying and not feel like I need to talk over.

[@CaribSurfKing1]

Francis Ducharme Getting USD completely wrong for so long, is a big mistake for an 'expert'

[@thanosisback2754]

I am in the Eurozone and I am extremely happy with my Gold investments. I bought Gold at 750 Euro and now it is 1100 Euro, can you explain this please?

[@CaribSurfKing1]

Alexandre Milandro Your currency is depreciating. Unfortunately, its the opposite for the USD, if you read Jim's books, he said the opposite would happen. Timing is hard, but 5 years+????

[@RicPhlare]

CaribSurfKing1 All paper currencies will depreciate against the metals over time. Name one that hasn't since 1971.

[@Silvertestrun]

Ty

[@pjdelucala]

James Rickards knows that are economy is not sound and a contraction is inevitable. In my opinion, his views are rock solid. Timing is out of his hands. I have very good information that a financial contraction will occur in the fall of 2016.

[@speedlearner]

At the beginning of the Currancy Wars book, James Rickards discusses an automobile dealership. The name of that dealership is the Wolfe Motor company. Why doesn't he mention this in the book? Why didn't he discuss why that business closed its doors?

[@tomprovan6817]

Very interesting and thought provoking. If this information seems like it changes rapidly read "Intermarket Analysis" John Murphy, We have gone though an expansive cycle with China and usd down oil up to just the opposite. Watching the charts myself I make my own decisions, tks for the video.

[@graysonmike]

i'm confused, at about 36:30 he says real yields are high. but when i go to the gov'ts website and look at real treasury yields they look low to me: 10 year is about 0.40. factor in john william's stated inflation being much higher than the gov'ts numbers, i think real yields are way negative.

[@patrickt873]

Fantastic interview. Its ahead of Its time and look where we are today

[@CaribSurfKing1]

If you read Currency Wars in 2011 and bought Gold based on what you read. You are massively underwater. If you tweet Jim why he got the USD, inflation and Gold so wrong, he blocks you and based in this interview, calls you a troll What gives?

[@thanosisback2754]

I am in the Eurozone and I am extremely happy with my Gold investments. I bought Gold at 750 Euro and now it is worth 1100 Euro, can you explain this please?

[@CaribSurfKing1]

Alexandre Milandro Your currency is depreciating. Unfortunately, its the opposite for the USD, if you read Jim's books, he said the opposite would happen. Timing is hard, but 5 years+????

[@Yates__]

Investing is a game of the tortoise and the hare, CaribSurfKing1 , slow and steady wins the race. Stop looking for the get rich quick scheme and be patient. Warren Buffet didn't become Warren Buffet overnight. Comments like yours make me laugh. A whole five years+!!! If you want to get rich quick then go to Vegas. Buy limited edition gold & silver coins and avoid the bars and you will be up, not down on your gold and silver purchases, regardless of a falling spot price.

[@graysonmike]

lol ya, i got smoked buying gold juniors... waaaaa time to pick up the pieces!

[@CaribSurfKing1]

Wayne Carter I have never been that invested in metals etc... I am just trying to call out the BS. Why has Rickard's been so wrong for 5 years about USD inflation. You should read CW's and listen to him from 2011-2013. How can an expert be so wrong! He started changing his tune after 2013 and wising up to deflation, but wow, was he wrong for a number of years!

[@mrNashmann]

keith hey bud give this guy some of your hair please

[@1000tptptp]

Jim sounds like he uses inductive or probability reasoning?

[@justmythoughts2786]

This guy been wrong year after year

[@t88taco88]

Keith really doesn't like ZeroHedge

[@Jonstyle69]

讚!

[@kylemcgrath84]

Keith lay off the Coke* maybe try some coffee :)

[@TheEmptySki]

I wonder why Rickards goes back to Charlemagne to demonstrate the German investment in Europe. The Red House Meeting (1944) and the first Bilderberg conference (1954) were specifically oriented toward moving German investments abroad in such a way that they come to dominate Europe.

[@Alex-vl7qz]

Étienne de La Boétie Rickards is a con man who is working for the biggest copyediting scam shop in the world, Agora Financial. If you read Currency Wars in 2011 and bought Gold based on what you read you got killed. He makes all his money selling ridiculous books to the gold doomsday crowd. Only a moron would listen to this con man. Rickards the con man exposed by the world's leading investment forecaster and authority on con men >>>>>> www.avaresearch.com/articles/1746/Exposed---Jim-Rickards-Part-1.html Ask yourself why you have not heard of Mike Stathis and his virtually 100% perfect track record since 2006. Instead you only hear of Jewish con men like Rickards and Schiff and others who get everything wrong. This is why you cannot and have not done well in the investment game. Keep being a sheep listening to the criminal media which promotes contrarian indicators. You will stay broke.

[@Alex-vl7qz]

Étienne de La Boétie I made several million dollars since 2009 buddy. I dont listen to con men in the media. I only listen to Mike Stathis, the world's top investment mind. Stathis advised readers of one of his books to buy NFLX when it was around $30 a few years ago. I just sold my position a few days ago. Check the price. Close to $700. That is just one of my winners. The reason most people never do well in the investment world is because they make the mistake of listening to the media and its con men whether its Cramer of Schiff, Faber or Rickards...all Jews I might add.

[@TheEmptySki]

I'm sure you have. I mean, I know if I had millions of dollars I'd callously troll youtube videos of people I disagree with. That's totally rational. You definitely know how to maximize life.

[@Alex-vl7qz]

Étienne de La Boétie If that's the best you have, I can see why you listen to and are fooled by these con men. The stock pick I was turned onto is in his 2008 book. And he has nailed every single market selloff top and bottom since having first predicted Dow 6500 2 years before it happened. Keep crying sour grapes while you keep losing money listening to con men and idiots who are salesmen calling themselves analysts. lol I wise man would look into what I claim instead of pushing it away. But then again none of you fools bothered to look into what these con men claimed which is why you find yourself losing your ass. get ready because Stathis says gold is headed to $400 by 2025, its fair value and will stay there for a long time. Better get with the program before its too late kid.

[@TheEmptySki]

Mike Maloney is a Con Man I did look at that trainwreck of a website, brah. It looks like it was developed by someone with not millions of dollars. Why did you respond to me at all? Did you read my comment? You think I'm fawning over Rickards? You are Stathis, aren't you?

[@frankzakzak]

Where is Rickards actual track record of ever having made money ? Rickards has been wrong on the Euro and dollar. He has not actually made any correct calls yet for a long time. It is obvious the Euro will collapse eventually and a shift to the dollar as safe haven (grin). The stock market will take a huge correction and real estate go up. Paintings will drop because Europe is passing a law all collectibles have to have 20 years backup from past owners, coins, paintings, all collectibles. Buying raw land is a very bad idea, ask any broker why. Armstrong will be wrong about the stock market after Oct 1, 2015 and wrong on real estate. His bond prediction may come true, although my cycles show Aug. 14, 2015 as top. SDR's won't work because the dollar is a major part of the calculation. Rickards is now charging $1500 a year for currency trades. This by backtesting, with no real track record. These guys never have a real track record. Schiff lost 50% of his clients money one year according to Max Kaiser.

[@MsHerculean]

lmao oh really now

[@BushRaven]

Frankly, I think Money is the worlds problem today, and will be the downfall of modern society. It allows people like this Jim, to control and take advantage of people for their own gain. Do a wiki on this guy, he is smart, well schooled and able to lie about government positions. Surprised he has not been arrested. Be smart with your life, avoid the dream of "getting rich". "Rich" is a loving family, trusted friends, and understanding the "Bigger Picture".

[@Alex-vl7qz]

c

[@marconi314]

So here's my riddle for you all: In 0:02 of the video (the very start) you see two cartoon figures. One is supposed to be James Rickards. The other, if you look at his hands, is making a symbol VERY much like the popular illuminati hand gesture. Relevant or not?