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00:00:00 – 00:28:58
The video covers various economic aspects, starting with discussions on the global recession, impacts of lockdowns due to COVID-19, and concerns about supply-side inflation. The speaker predicts gold prices rising significantly, potentially reaching $15,000 due to money printing and global food shortages. The video also touches on the war in Ukraine, highlighting its implications on global food trade. There are warnings about countries hoarding resources leading to mass starvation. Strategies like investing in gold mining companies and portfolio diversification are advised amid inflation concerns. The discussion concludes with insights on making money in the gold mining industry and using gold as a financial hedge in times of economic uncertainty.
00:00:00
In this segment of the video, the host introduces Jim Ricketts, highlighting his diverse background in law, investment banking, and government roles during crises. Jim discusses the global economy’s current state, noting the U.S. is in a recession despite the Treasury Secretary’s views. He explains the definition of a recession and mentions the National Bureau of Economic Research as the unofficial arbiter. Jim criticizes Janet Yellen’s performance at the Federal Reserve and provides insights on the market performance and inflation’s impact on consumers.
00:03:00
In this segment of the video, it is explained that the United States officially experienced a recession, as indicated by two consecutive quarters of declining gross domestic product (GDP). This was confirmed by government data from the Commerce Department. The speaker notes that the National Bureau of Economic Research typically declares recessions after they have ended, sometimes waiting up to nine months or longer to make such announcements. The possibility of an official recession declaration by this organization is mentioned, with a suggestion that it might be delayed until after the upcoming elections. The speaker confidently identifies the U.S. recession based on the GDP decline. The discussion then shifts to China, where growth was reported at four tenths of one percent in the second quarter, significantly lower than their historical growth rates and potentially indicating a recession, considering the likelihood of underreported figures by the Chinese government.
00:06:00
In this segment of the video, the speaker discusses the impact of lockdown policies in China due to COVID-19. Around 50 million people have been locked down, leading to a severe impact on the economy. The speaker argues that herd immunity, where enough people get infected to halt the virus’s spread, is the solution. They criticize lockdowns, citing evidence that they do not work effectively. The speaker also highlights a historic decoupling between the Chinese and US economies, with implications for a global recession. The EU and Japan are also mentioned as experiencing economic challenges, with Germany likely in recession.
00:09:00
In this segment of the video, the speaker discusses the global economy and the potential for a recession. They mention that major economies like the US, China, Japan, and Germany are facing or near recession, which could worsen due to tightening monetary policies. The speaker notes unique challenges in today’s situation, such as supply-side inflation. They express concern about a global recession getting worse before improving, especially with rising interest rates and persistent inflation. The discussion also touches on the role of central bankers and their lack of real-world experience. Additionally, there is a brief mention of gold prices and the possibility of gold hitting $5,000 to $10,000, with a suggestion that the bottom for gold prices may have been reached recently.
00:12:00
In this segment of the video, the speaker discusses the price of gold, predicting it to potentially reach $15,000 per ounce due to factors such as money printing. They mention that while an intermediate target could be $5,000, reaching $3,000 would be a significant milestone before hitting $5,000. The speaker also addresses the global food shortage and supply chain disruptions, emphasizing the seriousness of the situation and potential mass starvation concerns. The mainstream media’s changing narrative from optimism to a more pessimistic view is highlighted, indicating a shift in perceptions about the current economic challenges.
00:15:00
In this segment of the video, the speaker discusses the context around the war in Ukraine, pointing out that while Russia did invade, they had previously warned about their actions. The speaker mentions that the U.S either ignored the warnings or possibly wanted the war. They highlight the importance of Russia and Ukraine in global food exports, particularly in wheat, barley, sunflower seeds, and other agricultural products. The speaker emphasizes the significance of these countries in global food trade, with some nations relying heavily on imports from Russia and Ukraine for their food supply.
00:18:00
In this segment of the video, the speaker discusses how countries like Russia, Ukraine, Indonesia, and India are hoarding their resources due to factors like war and global issues. The speaker warns that these hoarding practices could lead to mass starvation worldwide. They emphasize the importance of seeking alternative sources of information beyond mainstream media to understand the situation accurately. The speaker suggests investing in gold mining companies or primary producers as a strategy to protect wealth amidst global food shortages but advises thorough research before making investment decisions.
00:21:00
In this part of the video, the speaker discusses the current strong inflation and how it is impacting everyday costs like gas and groceries. They explain the difference between supply-driven and demand-driven inflation, with the current inflation being mainly from the supply side. The FED’s ability to control inflation is limited to raising interest rates to dampen demand, which could lead to severe recession. The speaker emphasizes that the FED cannot resolve supply chain issues directly.
00:24:00
In this segment of the video, the speaker discusses how to structure a portfolio in a world with potential inflation, disinflation, or deflation. They recommend diversification, including having a slice of gold and cash in the portfolio. They suggest considering investments in energy, agriculture, natural resources, real estate, and government bonds. The speaker also mentions the importance of assessing individual gold mining companies based on factors like management, geology, engineering, and cost of capital for potential investment.
00:27:00
In this segment of the video, the speaker discusses ways to make money in gold mining, such as through an increase in the price of gold, discovering more gold reserves than expected, or a company takeover. Emphasis is placed on the importance of being selective and focusing on strong management in gold investments. The discussion also touches on the benefits of gold as a financial hedge in times of inflation or deflation, and the potential opportunities in investing in gold mining companies. The speaker expresses readiness to help viewers find quality gold explorers to enhance their investment returns.