Jim Rickards

Lawyer, economist, investor.

With a career spanning over four decades, Jim Rickards has established himself as a leading authority on global economics, capital markets, and financial risk.

Throughout his extensive career, Jim has held senior positions at several prominent financial institutions, including Citibank, Long-Term Capital Management (LTCM), and Caxton Associates. Beyond his roles in investment banking, Jim has been an influential advisor to U.S. government agencies on matters of financial risk and asymmetric warfare. He has also served as a facilitator for the first-ever financial war games conducted by the Pentagon, underscoring his expertise in the intersection of finance and national security.

A respected commentator, Jim contributed articles to esteemed publications including The Financial Times, The New York Times, and The Washington Post. He has also appeared on various media platforms such as CNBC, Bloomberg, and NPR. As an author, his bibliography includes the best-selling books Currency Wars (2011), The Death of Money (2014), and The Road To Ruin (2016).

In his recent analyses, Rickards has expressed concerns about the global economy. He has warned of a potential 50% collapse in the U.S. stock market, the decline of the U.S. dollar, and widespread social unrest, attributing these potential crises to political unpredictability and economic instability.

Today, he continues to write and serves as the editor of financial newsletter Strategic Intelligence.

Why did we invite him on?

Jim is one of our favourite guests, and this will make his fifth appearance on the show. He is our go-to voice when it comes to all matters involving the American economy. And this is a particularly exciting time to talk about it. Trump’s antagonistic policies have divided his base. With free marketeers declaring this a disaster for consumers and protectionists calling it a victory for the working class, we find ourselves wondering: who’s right? Is protectionism really the answer to America’s economic woes? If not, why not? Why are Trump and his team so sure it is?

What did we learn?

Some economists claim Trump’s economic model is recipe for recession, but Jim doesn’t agree - in fact, we’re already in one. “The recession is here.”

That switch completely reframes the argument, but Jim puts it in sharp focus for us. He explains what interest rates teach us about the economy’s approaching fate, and what the market is sensing before the authorities are.

”This idea that we’ll stimulate the economy with low rates is nonsense. Low rates bring about depression, recession, and financial panic - that’s when you get lower rates. In a robust, growing economy, rates will be higher.”

So what does Jim think of the controversial tariffs? We recently had Liam Halligan on to discuss Trump’s tariff plan, and he laid out why he thought Trump was doing it and the likelihood of the various possible outcomes they might lead to. If America is already in a recession, aren’t they going to make things worse?