Jim Rickards: Western Economies About To Slam Into A BRICS Wall?

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Macro analyst Stephanie Pomboy returns as a guest host on Wealthion to interview currency expert James Rickards about the highly-anticipated announcement of a new commodity-backed trading currency by the BRICS countries (Brazil, Russia, India, China, South Africa + a number of other resource-producing countries)
Collectively, these countries has as much or more land, population, GDP, nuclear weapons and other key strategic resources as America and its Western allies.
What repercussions are most likely to ensue from a new competing currency issued by the BRICs to compete with the US dollar's status as the world reserve currency?
To find out, Stephanie sits down with Jim for an insight-packed hour.
To learn more about Jim's work, go to wealthion.com/rickards
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TIMESTAMPS
0:00 Introduction
1:05 A new competitor to fiat Western currency?
4:15 The definition of BRICS
9:21 Applications for membership
13:49 The importance of a common fiscal policy
18:14 What's the value of the BRICS currency?
23:40 Debt to GDP ratio
29:24 Diversifying out of US Treasurys to gold
33:08 The dollar's global reserve currency status in danger?
38:04 The beginning of the retail investing market in Brazil
42:31 Dawn of the age of digital currencies
49:54 The Fed & recession risk
53:48 How may political trends influence the situation?
59:43 Concluding remarks
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#brics #bricssummit #dollar
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IMPORTANT NOTE: The information and opinions offered in this video by Wealthion or its interview guests are for educational purposes ONLY and should NOT be construed as personal financial advice. We strongly recommend that any potential decisions and actions you may take in your investment portfolio be conducted under the guidance and supervision of a quality professional financial advisor in good standing with the securities industry. When it comes to investing, past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All investments involve risk and may result in partial or total loss.

[@Wealthion]

WORRIED ABOUT THE MARKETS? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Wealthion's endorsed financial advisors at www.wealthion.com

[@bobm3801]

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[@rogerburn5132]

Little Bit to Late BUT HAPPY BIRTHDAY. ADAM ALL THE BEST WISHES. FOR GOOD HEALTH. AND LONG LIFE 👍👍👍🎁🎁♨️♨️♨️

[@patrickmcgoohan115]

​@@bobm3801unfortunately, I see America blocking Bric's in Africa, same game, back opposing political bric sides for power and selling arms to them.

[@meme247trends]

Central Bank of Iraq Governor today wed. 08/16/23 just spell in codes a bunch of Bombs 👀The local currency is covered by the reserve, which is subject to foreign balance protection. Iraq’s gold reserves are 132 tons, and future of the currency reserve is tied with the yellow metal (…) personally I support this vision.We will not print more dinars, unless we get equivalent foreign currency, withdraw the damaged to avoid inflation. It is not possible to float the dinar in Iraq, because we do not have various sources of foreign currency.

[@meme247trends]

1971 ( 1oz. Of Gold $40.00 ). 2023 ( 1oz. Of Gold $1,900.00 ). 12 U.S. Code § 411 - Issuance to reserve banks; nature of obligation; redemption. 💲"Federal reserve notes"💲 to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth➡️ and for no other purpose, are authorized. ⬅️🤔

[@soundmoneyhacks-global]

I am a South African and the way Jim articulated the BRICS block's plans and its challenges was just outstanding. We are indeed looking foward to alternative multipolar world built on mutual respect, unfortunately the West has done the total opposite in the last 100 years through its Big Pharma and Military Industrial complex that has weaponised the current dollar based economic model.

[@grahamt5924]

South Africans are racist, and it's no way to behave. The racisim you see from black politicians in South Africa is beyond disgusting

[@patrickhamilton5829]

When you have SA Politicians chanting «kill the Boer» doesnt really give me hope that the BRICS system will be marked by mutual respect. Unfortunately the majority of politicians are corrupt through and through. The secret behind the strength and success of the western economies has been the protestant values and the rule of law. Those values have been eroding away for decades and the US is «speaking like a dragon» more and more. If the BRICS build their system on biblical values of fair trade and zero tolerance for corruption, they will be successful.

[@soundmoneyhacks-global]

I could not have said it better my Broer.

[@donvn4668]

Corruption and power grabs governments destroyed their own countries. Don’t blame on the West. Look at many countries in Asia following the West model along with democratic government doing so well. That’s the facts.

[@flitslig]

Amen

[@martino8114]

Hello, I’m a retired defense engineer and I stumbled across this video and feel very greatful for it this was a breath of fresh air to me I felt like I was listening to an honest conversation on these subjects for the first time and so well articulated for real life understanding minus the bullshit thank you!!

[@tolyamochin4066]

Американец, честные люди давно покоятся на кладбище. А вот те, что ещё ходят по земле от них можно ожидать какой угодно подлости. И Джим Рикард не исключение. Он ведь адвокат и его работа всегда заключалась во вранье.

[@fubarbrandon1345]

Appreciate Jim's wealth of knowledge and understanding of BRICS. Thanks to Stephanie...she's always a pleasure.

[@LofgrenMark]

BRICS wants to build a new currency. It is also worth noting that gold has historically been used as a store of value and a means of exchange, and some countries still hold significant amounts of gold in their reserves. However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subiect to numerous economic, political, and logistical considerations.

[@monicavazquez280]

Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.

[@melissawehner]

true, A lot of folks downplay the role of a professional until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license professional and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.

[@romiverajr]

@@melissawehner I’ve been down a ton, I’m only holding on so I can recoup, I really need help, who is this professional that guides you?

[@melissawehner]

@@romiverajr I'm been guided by "Susan Bauer Normansell," who is widely recognized for her competence and expertise in the financial market. She has a thorough understanding of portfolio diversification and is regarded as an authority in this field.

[@romiverajr]

@@melissawehner Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.

[@Peter-MH]

Stephanie is a great stand in host! And happy 60th Adam!

[@larry9700]

🤣

[@secretsquirrel6718]

I'm guessing 52(?)

[@alexyoung3126]

BRICS seeks to create a new currency, considering gold's historical role as a store of value and medium of exchange. However, the functionality and acceptance of a gold-backed currency in the current global financial system are uncertain. Creating a new currency requires careful consideration of economic, political, and logistical factors.

[@lawerencemiller9720]

Discussions on BRICS nations' use of gold have drawn attention. While individuals buy gold for its historical significance, inflation protection, and diversification benefits, it carries risks and may not be suitable for all investors. Careful evaluation of goals, risk tolerance, and financial circumstances is crucial.

[@johnlennon232]

I find gold investment reliable and aim to buy more to recover losses. Silver is also a good investment but differs from my collectibles. Clear investment goals and education are crucial. I work with Helene Claire Johnson, a SEC-regulated financial consultant. Starting with modest investments, I accumulated nearly $799k over time.

[@johnlennon232]

Helene Claire Johnson maintains an online presence that can be easily found through a simple search of her name on the internet.

[@lrhomesold]

With a company like AABB gold backed, could be smooth transition , im sure they have thay worked out

[@psl7360]

Don't worry for them. Though the country grouping may not have economic Nobel prize genius like US, I believe they can thrash it out and come out well like China did..

[@williamyejun8508]

Well it's time for the BRICS- New World Order to come up with a default reserve currency or simply go back to gold as the reserve. It will be too chaotic for each country to trade in their respective currencies with the daily change in exchange rates.

[@bobbymainz1160]

All big corps are just a cohort of centralised system working together, and any damage to one can have a dangerous ripple effect on every other one. I learned a long time ago to not trust corporations. Most of my money is in the stock market and my businesses. I keep only what I need to spend in my checking account.

[@jameswood9772]

Iron-ically, these are the conditions in which life-changing money is made by those who remain calm, patient, and take controlled risks. Vola-tility goes both ways. The banks are in a big crisis. The mar-ket looks very shaky. The bigger the red candles, the bigger the green ones. I have made over 280k in the last 4 months by invest-ing through my FA

[@alexyoung3126]

How can I reach this ad-viser of yours? because I'm seeking for a more effective inves-tment approach on my savings

[@jameswood9772]

My financial advisor is Lisa Angelique Abel. I found her on a CNBC interview where she was featured and I reached out to her afterwards. She has long helped me with my portfolio

[@alexyoung3126]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a call.

[@santptube]

De-dollarization became inevitable once US started using dollar to settle geo politics. For example, Russia had dollar reserves and US froze its accounts. Other countries are worried that US may do the same to it.

[@butmunchass]

Yeah, even US citizens are worried about this but stuff that the BRICS cooks up will usually be even worse. If you're worried about purchasing power have to hold gold or maybe bitcoin.

[@linguistengineer588]

That doesn't make any sense. Who in their right mind is going to transact in a derivative of a currency that is manipulated by a totalitarian communist cult? And the Euro? Yen? Pah!

[@drx1xym154]

@@butmunchass-- Canadian truckers, their bouncy houses and supporters of freedom, also know! Bigger question (or absurd question) - When will Commie Canadia join Commiefornia???

[@Spacenow869]

that goes for eu as well/ They confiscated yachts and soccer teams and who knows what else from russians. Left of west has no fear to use soviet of the past tactics. Nothing new.

[@user-yu8cg7lz2h]

toooo right veryv real threat

[@watermill4854]

Excellent. Cant get enough of Jim and Steph showed how to interview an expert. Highly enjoyable

[@drscopeify]

Except the export @ 17:00 does not think the ECB sets policy for EURO members and yet the ECB does of course set the interest rate which is policy.

[@watermill4854]

@@drscopeify it is well known in Europe that few follows any rules set centrally and get a pass again and again as rules are broken. So effectively there is no control or setting taking place and some examples of cooking the books where needed. Sure interest rates being set centrally

[@drx1xym154]

@@drscopeify -- I would not disagree with Jim's point that the Euro currency has no real coordinated policy - Norway and Italy are not on the same page. Were I see the issue is that the Euro currency is not a success... not really in anyway - though maybe it helped for a time. German economic/manufacturing output has crumbled ... their heavy industry is nearly dead. Why? Because Germany turned off ALL its reactors, even after Nordstream 1 & 2 were detonated. Their energy costs will go sky high, again ... this winter. Hopefully it will be a mild one. France at least is keeping its current reactors operational. Strange times!

[@drscopeify]

@@drx1xym154 Who sets the over night rate??? Obviously it is the ECB so they control policy 10000% otherwise how do banks get liquidity? Can the central bank of Germany open a window? No.

[@drscopeify]

@@watermill4854 That has nothing to do with central bank policy, who issues the over night window in EURO members? Well ECB so that is who rules the show. The king of the hill.

[@kelcohsix]

Thank you for explaining the BRICS’ strategies. Nobody does it better … No one is even close!

[@Khalife21]

I think Alasdair Macleod do it better and even Pepe Escobar but on more geopolitical picture

[@Michael-qy1jz]

Like he says, the Dollar ain't going away>> they will just STEAL all the value from it

[@TheCrackupboom]

Nobody, absolutely nobody does it better than Jim. I like Alasdair but melding all of the geopolitical, economic, psychological variables as Jim does put him in a league of one. Escobar, what???? You must be kidding.

[@Khalife21]

@@TheCrackupboom haha I’m serious is Pepe Escobar very well informed much informed than Jim actually he spoked with the people behind the strategy of the gold currency,token whatever it will be. He is often in Russia he was for the summit with Africa it will be for the big rendez vous of the 22nd

[@marilynnschroeder4436]

I love it when Jim said “Jake Sullivan’s a political hack, Tony Blinken’s a lightweight, Victoria Newland’s a bloodthirsty warmonger”! 😂. The saddest part is, he’s not wrong. And Stephanie, “they’re blinded by hubris”! So true.

[@tolyamochin4066]

Это обычное поведение американских политиков и бизнесменов. Они на расстоянии могут оскорблять и унижать себе подобных. Однако, когда политики, или бизнесмены встречаются лично, то они.ничего пдохого друг другу не говорят. Одним словом, все свои оскорбительные выпады против кого-то, они делают для публики, чтобы народ им всецело доверял.

[@benbo7042]

😅😅😅😅

[@roslyntchakedjian927]

Isn’t that the truth

[@iorewp]

Great interview Stephanie! Thanks for having Jim Rickards on!

[@joeysocks5718]

At least seeing Steph will ease the pain of todays market 😉

[@slowridefpv9668]

Understated comment.

[@Sjmirando]

Absolute babe.

[@brucerobtoy2888]

Don't let me catch you staring at my woman.

[@brucerobtoy2888]

Jim and the EU It's about to go under because they don't have that fiscal policy.

[@EBM4545]

I think she looks extra cute today 😅

[@Erinmills98]

What happened to SVB is really scary, and goes to show that no corporation, however big, is immune to collapse. I have always had a deep-seated mistrust for corporations. I have plans to pull out most of my money, but don't know what to do with $350k sitting idly. I'd like to go into the stock market, maybe. Any ideas?

[@IrenaDolinsek]

All big corps are just a cohort of centralised system working together, and any damage to one can have a dangerous ripple effect on every other one. I learned a long time ago to not trust corporations. Most of my money is in the stock market and my businesses. I keep only what I need to spend in my checking account.

[@simonbad]

@@IrenaDolinsek Ironically, these are the conditions in which life-changing money is made by those who remain calm, patient, and take controlled risks. Volatility goes both ways. The banks are in a big crisis. The market looks very shaky. The bigger the red candles, the bigger the green ones. I have made over $280k in the last 4 months by investing through my FA.

[@LarsBergstrom-uh2eu]

@@simonbad Wow. I've heard similar success story from people who work with advisors. How do I get in touch with yours, please?

[@simonbad]

@@LarsBergstrom-uh2eu Absolutely, I agree, and the markets are currently in a frenzy. The greatest time to observe them, learn more about them, and take advantage of opportunities to strike is now. My F.A, "Michelle Christine Parker," who has witnessed hundreds of market cycles over the past three decades, taught me this. She has an intuitive understanding of how things move, why they move, and what will happen next.

[@LarsBergstrom-uh2eu]

@@simonbad Definitely gonna check her out.

[@MarkMark-ji6ts]

Excellent host, I saw Steph holding back from talking while Jim was explaining something. This is essential to allow a stream of thought to be completed. Great interview skills.

[@petermilne1203]

She’s better than Adam, with is often incoherent umhhing and ahhhing, and trying so hard to formulate a simple question. Let’s use Steph more!!!

[@davemangle6448]

And she’s easy on the eye too 😊

[@livinthedream7714]

​@davemangle6448 yes, but grating voice

[@user-md4ix4ox4u]

Jim Rickards is the man he is so calm and down to earth and he explains things so that the average person (me) can understand. I wish i had of started tracking this amd listening to him long ago. I am sure i woukd have made much better financial decisions. But with that thanks jim i appreciate it.

[@rosa-heidemarie]

Thank you, Jim , for that in-depth, carefully researched explanation. And Stephanie, you're a terrific interviewer. One thing I learned from this: Don't challenge the Russians to a game of world chess if you're filled with hubris and can't play chess!

[@DanielJames-yt8sb]

I can teach you how to start earning online a blockchain is like a digital ledger that keeps track of every transaction made with a coin. Also, a private key is like a password that allows you to access your funds. I can explaining how the system works if only you are interested.

[@10MillionHomes]

Stephanie is an excellent guest and host and Rickards is a wealth of knowledge and experience. Love them both!!! Happiest of birthdays Adam!!!🎉🎉🎉

[@inquisitive8903]

First of all many thanks to Adam for bringing these two together. the best interview/discussion i have listened to on the matter.

[@DramaQueen-im8qm]

Best interview I've heard yet about BRICS currency. Well done by both parties.

[@MrPBull]

I agree. Very insightful!

[@bellaadamowicz8380]

So what you say now ? China is broke, totally bancrupt

[@nacetroy]

Best explanation of BRICS I've yet heard. Thanks, everyone would do well to see this.

[@mattanderson6672]

Brilliant interview! I love listening to Jim! Thank you for having him back An hour of wisdom right here!

[@itsalwaysnow4098]

Stephanie and James, This talk has been mesmerizing. Thank you both.

[@beringjoyfarms2830]

Always a good time listening to these two individuals!

[@sudo2998]

Stefanie Pomboy and Jim Rickards - this is going to be good! 🙏

[@doctorsofficecafe]

That was the first thing I thought, too 😊, and haven’t been disappointed!

[@craiglawrance5342]

Wonderful analysis by Jim Rickards. And Steph makes an excellent interviewer. Superb.

[@TheBusinessAdvisorPodcast]

I am a California refugee also. I moved out 3 years ago. I saw what was happening there. I was born in California but now I live in South Carolina. Better life. People live here and enjoy life.

[@madalynward5974]

I listened to this interview yesterday and it was so fabulous I am listening again today. Two of my favorite experts and they did not disappoint.

[@drphilxr]

*"Those that fail to learn from history are doomed to repeat it.”*- Winston Churchill. ...and Mr Rickards is a *fantastic* historian! We are in the calm before the 'Bretton Woods 2' storm.

[@ChrisGenXer]

Love it when you stand n for Adam! Great discussion, always learn a ton here!

[@timantsons616]

That was a great interview! 1 hour went by so fast. Thank you!

[@alansnider1065]

Stephanie, you always do a great job, as guest or as guest host. Jim is a favorite. Thanks to both of you.

[@paulinebowen5170]

Excellent info from Jim. Great job Stephanie. I hope this all come to pass, about time US gets removed from their high horse and thinking they are invincible.

[@lindalawrence5526]

The ds human trafficking petro dollar is failing..

[@bellaadamowicz8380]

You are dreaming , China is bankrupt . Totally broke

[@mackakiwinz4353]

Jim surpassed the word brilliant. Thank you Stephanie for allowing Jim to pass on his extensive knowledge to us mere mortals! Jim thank you for allowing your wisdom to inform us down here in New Zealand where we continue to cut the authoritarian regime infiltrating our country off at the knees.

[@deonopperman2194]

I'm glad to read that you're sorting out the authoritarian regime that has infiltrated New Zealand. I have watched with astonishment these past three years how New Zealand has morphed into a fascist state. Unbelievable. Never ever thought I would see it. I couldn't understand why New Zealanders were allowing it. Why would a nation that produced the All Blacks kowtow to such authoritarianism?

[@kiwitrainguy]

Will have a National Party government from 14th Oct so we will once again be tied to the US purse strings.

[@zubinDRK]

Superb interview, thank you Wealthion for having the ace Rickards on , can't think of a better person to hear this subject from

[@ThinkForYourself8258]

An interview carried out with excellence. Rickards is a concentrated wealth of knowledge.

[@manojpoduval7962]

I have been reading comments on why India is in BRICS and also in Quad. Well the answer is simple. India is taking care of itself economically as well as in respect to it's national security. India learnt from the past that it cannot just blindly trust the West in terms of its security. Moreover it cannot afford to put Russia China and Pakistan totally in a group which it doesn't have influence on and can be a security threat . India is not tucked away safely like Uk Or USA by it's boundaries with a increasingly assertive China. Being in BRICS can help in keeping China in a little check . As Russia will play neutral when it comes to India and China. It's a multipolar World that's shaping up, with countries not trusting any block but rather keep their options open. If you look at the Russian sanctions by USA and NATO, europe.. You will find that it's boomeranged on them with inflation and energy prices going up. I am sure if you ask the ordinary citizens of USA and europe they will say that they are against this politics of involving in the Ukrainian war which is actually a proxy war between USA and Russia making Ukrainians as scapegoat. Ukraine' will be the Afghanistan of the West. As at the end of the war what will be left is a destroyed Ukraine. Like Afghanistan and USA will soon abandon Ukraine as back home their elections are coming out and the politicians have gauged the public mood that the majority of the public of USA are against this funding in the Ukrainian war. Hence you will find that just like what happened to Afghanistan USA will soon drop out of this war. So in the end this war has only created recession in Europe with their energy prices shooting up. Joe Bidens policies have been disastrous starting with the Afghanistan pull out, having a spat with Saudi Arabia's MBS, weaponising the dollar etc. Anyway coming to the point of India,BRICS and quad. India has a very intelligent foreign minister Dr. Jaishankar who is not of the political class but from the bunch of those who became CEO's of google, Microsoft, Adobe etc etc etc and hence he knows what he is doing for the growth and benefit of India in terms of foreign policy. Modi listens to him with respect to the foreign policy of India and not vice versa . The public in India trust Dr. Jaishankar too😊

[@Seneca384]

I have always enjoyed listening to Jim Rikards thanks for this interview.

[@Marce031979]

What a brilliant mind from this guy

[@deevee4994]

Thanks Steph and Jim this was the most informative and understandable analysis about the subject of BRICS.

[@nickbeatty1969]

wake up call for America, we need to start producing, being more business friendly, not be reliant on other countries for our products.

[@garybennett8880]

This is an excellent team with two of the finest financial authorities in the world. I always enjoy hearing from both of them. I could listen to both of them for many hours. I never miss hearing from both of them independently but together is a stellar opportunity. Adam, Wealthion is the very best assemblage of superior knowledge available today.

[@tcpwiz1]

How will BRICS members audit each others gold reserves? They can't.

[@cameronwalter997]

Brics is a joke and more than one of its members is on the brink of collapse...

[@a13xdunlop]

and how do countries in the West audit each others reserves, they do not lol.

[@svetlanaanokhina7307]

They will figure it out. They are smart 😉

[@tcpwiz1]

@@svetlanaanokhina7307 I am pretty sure Rickards has it figured. But he is in his 70's and doing great without presenting it. He'll wrap it up with gold and other resources and spook talk, and he does a good job. I bet he has a stack.

[@samuelbonsu5863]

Don't doubt the Chinese and Russian.

[@lwang5534]

Excellent interview ❤. Jim always brings in very interesting and valuable insights. Great guest. Thanks!

[@DanKohan]

It's cool to see how this all started as an idea and turned into something powerful. Countries like Russia and China are leading, and even Saudi Arabia might join. This could change how money works in the world! Awesome video!!

[@drx1xym154]

It will change how money works... or break the financials, if the west does not beat them to it!

[@patsonmandaza936]

Its a good thing to have options

[@Unwissender]

What I find interesting is that everybody, including Jim Rickards seems not to remember that Eurozone before we had the Euro already had a trading currency called ECU (European Currency Unit) and still each country had its own curremcy.

[@tolyamochin4066]

Рикард об экю хорошо осведомлён, только это никак не вписывается в его финансовую идеологию. Поэтому он не желает вспоминать об этой европейской валюте.

[@16352huey]

Stephanie rocked this interview! Jim is a national treasure of information and looking at things few people are talking about. Thanks to both and Happy Birthday, Adam!

[@butmunchass]

Jim Rickards reminds me of a quack because I used to always see internet advertisements where he was featured as predicting something crazy and they want you to click on his link and buy his crap.

[@petermilne1203]

Adam, please can you have more frequent birthdays? 😅

[@alta5688]

@@butmunchass And this Quack's prediction that Russia would head a gold-backed BRICS currency turned out to be complete baloney. Rickards makes himself a fool once again.

[@scottwilliamson1606]

Happy Birthday Adam!! Great to have Steph sitting in; great choice!! Super discussion!!

[@dennispoolspaservicetdcigl746]

There is great intelligence in lies, why I read the NY Times & post. Great quote Jim. Loved the interviewer & the interview.

[@AanyaDarika_]

inflation remains well above the Fed’s 2% target. Some of the top commentators in the markets, business and economics have been sounding off on just how bad they think the next downturn might be - and how far stocks may have to fall. I need ideas and advice on what investments to make to set myself up for retirement, my goal is to have a portfolio of at least $850k at the age of 60.

[@henryalexander688]

stocks will continue to rally, stocks are not the economy, I had 250k put aside waiting for the fed to stop raising rates. Now I want to get back into the markets, but the hike will continue and stocks are still climbing

[@xavier_lucas]

The stock market will go down further and goodluck on the fed pausing rate hikes w/ all the hawkishness that has failed to keep up with inflation.

[@Maria_fleur]

The market has been a turmoil since covid, the brief relief rallied for only a year and now the devastating effects of pumping trillions into the economy is here and will be for a while.

[@benalfredo]

Stay in the mrkt and sell only if you need those funds. I got laid off and it has been difficult getting another source of income, glad I was investing when I did and of course with guidannce from a wealth-manager don’t listen to naysayers. I am making bank and the penalties for drawing from 401k to reinvest are nothing compared to the amount of wealth I now possess with my family

[@benalfredo]

I have saved myself from all the hassle that the chaotic market causes. These days the best way to come into the market space is seeking guidance, due to side hustles i can’t handle my portfolio so i just work with LOREN LENA WALKER, a FA i came across via a recommendation from one of these KZbin retirement coaches. It’s been smooth since then. Cliche as it may I have made a mark up of 70% in profits investing 350k under her. It helps not to be worried about your portfolio every minute of the day.

[@mattjenkins682]

Fantastic interview. The greatest point, imo is: 'Stop thinking like an American' Thats what all of us Americans need to do. Stop thinking of it as America the planet and start thinking of it as America the country.

[@svetlanaanokhina7307]

😂

[@robjohnson7878]

I remember when Russia was kicked out of swift and Tucker immediately said that was a huge mistake by the Biden administration.

[@dragoss2736]

An EXTRAORDINARY interview !!! Mr. Jim Rickards gives EXCEPTIONAL explanations. Thanks a lot !!!

[@goldensgreensandblues3858]

Thank you Jim and Steph for breaking down BRICS and looking at cause and effect from multiple view points.

[@TheCrackupboom]

Jim, you are getting better with age. When I look at the decade plus you have been teaching the general public, you are really getting better. Thanks.

[@barbaraatkinson2204]

Great to hear from Steph and Jim ,happy birthday Adam

[@deonopperman2194]

A most excellent, informative conversation. Thanks.

[@audiophileman7047]

Jim Rickards has a good head on his shoulders and has a wealth of knowledge on currencies and macroeconomics. I hope that you will have him on again in the future. Thank you! 👍👍👍

[@jonEmontana]

Good stuff Jim. Thanks for stepping in Stephanie

[@trailguy]

I think I’d watch a Pomboy vid even if the sound was broken

[@chris2lehmann]

BRILLIANT information as usual. Especially so for this episode.

[@tbot7725]

Stephanie is easy on the eyes and Jim easy on the ears.

[@Umar1975ful]

Nothing is better than hearing info from someone who is well informed. Thank you Mr. Rickards for the education,it was quite intriguing!

[@twags9859]

Truly fantastic chat! Thank you both

[@trevortaryck3652]

Excellant Jim - pure class mate👊

[@billyv1206]

The way she says bye at the end is like, I'll do whatever the hell you want me too

[@jeffgoodman3108]

Damn John, I can always count on you for Real Talk

[@MattMatusiak]

Rickards has been saying this for at least 20 years. Some day he will be right.

[@thomashuang8401]

Just like nick gerli has been calling for a housing crash since he was born

[@drscopeify]

​@@thomashuang8401 lol I actually like Nick I think that people will eventually want to cash out on record high home values but maybe the low rates they are locked in to will hold them back? I guess time will tell.

[@kp3509]

The clock strikes 12 twice a day. If you keep calling it, you will eventually look like a genius when the clock strikes 12.

[@trevordowney6425]

Great job Steph!

[@nlpchannel]

these countries have their challenges too...collaborating between them, remains to be seen, we always look through our "westernized eyes" and attribute our perspectives to them. Lets see...

[@realitybitesw4900]

What a great and insightful interview. At least there are still some smart people in the US.

[@RavenRaven-se6lr]

The only message that is important for all world leaders is “ save the Planet “ it’s all we have least we end up like a interstellar movie! Thanks mr Richards

[@jonEmontana]

Happy Birthday Adam

[@snowyowl6892]

This lady is open-hearted imo

[@ellau5850]

Stephanie is the best, beautiful, articulate, knowledgeable, just a wonderful person😊

[@pd8505]

FANTASTIC INTERVIEW 😎

[@dillonsawyer9377]

Jim very well explained and that's why I buy all your books!!❤

[@enriquegonzalezortegariver4181]

Stephanie excellent conversation with Jim, you really are the Oprah of Economics and Finance interviews! Awesome!

[@jakepetersimes3722]

When Jim talks people should listen, keep calling it as it is, by the way very bright smile Steph

[@F_C...]

Have been waiting weeks for steph to appear on wealthion again except not how I expected. Here's to hoping we get an episode where steph interviews herself.

[@garywhite4104]

I am perplexed: if a BRIC is not redeemable for some amount of Gold how can he say it’s value is pegged to Gold?

[@kevinwoolley7960]

Yeah, it's still fiat, what does this accomplish?

[@SirSaavedra]

there is a flaw there

[@garywhite4104]

@@kevinwoolley7960 thank u

[@sunseaker1]

Brilliant interview. A real eye opener for those of us who lack education in the field of international finance.

[@henrypadilla7571]

Great conversation! Thanks.

[@Mimi19291]

Jim is one of a kind, an independent thinker, the world lacks people like him and Steph did a very good job interviewing him. Can’t have enough of hearing this man and reading his books.

[@espartano171]

AMAZING INTERVIEW. Never thought I would see someone so well versed in finance and economics as Stephanie Pomboy interviewing another finance and economics magnate like Jim Rickards. So much learned in so little time when to masters of the same trade come together to exchange thoughts, ideas, points of view and personal findings!! Congratulations, Wealthion!!

[@davidfield4432]

Really enjoyed this interview. 👌👍

[@talks2elk]

Very informative. Thank you both.

[@userOOO1]

Help me out here, please. Jim makes the point several times that the new BRICS currency would be different from the old US standard (under Bretton Woods) because it's defined as a WEIGHT of gold, NOT a PRICE. When we pegged gold at $35/oz., how is that not just 1/35th of an ounce per currency unit? Jim is smart enough to understand 4th grade division. What is he saying here?

[@Madame702]

Jim Rickards is a joke. He has an "American Liberal World View" that all these hyper violent, hyper raciest countries are going suddenly put their difference aside and hold hands together just for you because your the "chosen one". LOL 😂 "F**k No!" Their going do what they always do White Russian will continue to enslave white people. The Han Chinese will continue to rip out the organs people they don't like and sell them for profit on the Black Market. The Indian Fascist will continue killing and murdering Muslims in India. That what going to continue you happen and your BRICS currency be damn!!!!

[@theosolomon8319]

Very good advice, truth, real time knowledge. Thank you!

[@tolyamochin4066]

Джейм Рикардс может насоветовать чего угодно, он же за последствия своих советов не несёт никакой отвественности.

[@ryanborder189]

Love Steph, Love Jim!

[@jeffersonblackmon]

🎉🎉Happy Birthday Adam 🎉🎉 Excellent interview Stephanie and Jim. Thank you.

[@mythaitours]

Outstanding interview! 🙏

[@ThePellegrinCompanyInc]

This interview was so good and really had a ton of great information

[@victorious263]

This is an excellent way of explaining the geopolitical situation in the world today and why a lot of countries are are pivoting away from the west because of American hegemony.

[@rd9102]

The BRICS group can do what they want HOWEVER if there is no Gold window open to trade their "currency" for that Gold...then it's not Gold backed. If they do open a window, it will just take some time to figure out the arbitrage trade to get a hold of it. To be honest it's hard to conceive of a way for the BRICS to not get raided if they do open a Gold window and they will be in the same place that Nixon was at in 1971.

[@forestlin8684]

Jim missed to point out, the BRICS has the largest agriculture & industrial producing capacity as well,they basically just have everything basic to stay in survival by ditching $ and even the whole western world,and it could happen as more and more global south has realized they have to escape from the US$ hegemony if they really want a bigger chance to develop

[@patrickalaggio7620]

EXCELLENT interview. Thank you for the clarity.

[@johngaveglia1892]

Happy birthday Adam Thanks for so much important information and your contribution to our education.

[@Lexman00]

Dear Lord... a currency "referenced" in gold, AND taking themselves out of the exchange rate. If the US starts buying gold too, the dollar deteriorates, and if the US government has to print more money to make up the difference for lack of treasury demand, the dollar deteriorates too. They have the US government in checkmate... This is it, now more than ever people must stack physical gold and silver.

[@donaldparry5157]

Or arable land with a water source!