The Author on Armageddon

Author and wealth advisor James Rickards, in his new book “The Death of Money,” tells us to brace for a financial meltown even worse than the one we just barely survived in 2008-09–and he insists it will come within five years or less.

Rickards sees any number of threats that could be the trigger for the Mother of all Meltdowns: a terrorist hedge fund, a China meltdown, Iran nuke attack, a government default here or overseas, an outbreak of hyperinflation, take your pick.

As I’ve said before, the thing about all these would-be next-Nouriel-Roubinis is that they aren’t wrong–they’re just early. Yes there will be another meltdown, but many doomsayers have held this fear for years after stocks bottomed in March 2009. And they have missed out on a lot of wealth creation. Plus even when the meltdown comes, I firmly believe we avoid total, global collapse, because at some point we need the system to work and we come together to ensure it can rebuild.

The question is what to do with your money in the meantime. Rickards says think up to 20% gold, and buy fine art, undeveloped land and other hard assets that will go up in value if–or in his case, when–hyperinflation erupts. His half-hour interview with me, for the website Newsmax, is here. Click and figure out whether James Rickards is right.

Scroll to Top