Teuton Resources Corp V.TUO

Rickards ignore the politics get to the heart of the matter

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https://www.youtube.com/watch?v=hM8EcWUb4mI

Russia could retaliate by freezing the entire Western clearance system, warns Jim Richards, New York Times bestselling author. In an exclusive interview with Daniela Cambone, Richards explains that if Western countries seize Russian assets, Russia could sue Euroclear, the largest clearing, settlement, and custody organization in Europe, to recover damages. “You could throw a monkey wrench into the entire global clearance and settlement system by disrupting Euroclear, which is probably second only to DTCC in terms of settlement and clearance.” Additionally, Richards states that we may need to return to the gold standard to restore confidence in the U.S. dollar. “But if you have to go back to a gold standard, $27,000 would have to be the price in order to avoid massive deflation.”

 

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Rickards is always interesting, but he seems to be way off the mark these days.  His book Currency Wars, came out in 2011, but we are still waiting some 14 years later. I will probably be dead by the time his prognostications come true.

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In the video, Jim Rickards said currency wars can take many years to resolve themselves.