James G. Rickards is an American lawyer, speaker, gold speculator, media commentator, author on matters of finance and a self-proclaimed expert on finance. He is the author of The New York Times bestseller Currency Wars: The Making of the Next Global Crisis, published in 2011, The Death of Money: The Coming Collapse of the International Monetary System, published in 2014, The New Case for Gold, published in 2016, and The Road to Ruin: The Global Elites' Secret Plan for the Next Financial Crisis, also published in 2016. None of Rickards' major predictions thus far have been realized. In 2012, he predicted that the price of gold would reach $5,000 to $7,000 by 2017, however its price remained below $2,000 all through.
Rickards graduated from Lower Cape May Regional High School in Cape May, New Jersey, in 1969. He graduated from Johns Hopkins University in 1973 with a B.A. degree with honors and in 1974, from the Paul H. Nitze School of Advanced International Studies in Washington, D.C. with an M.A. in international economics. He received his Juris Doctor from the University of Pennsylvania Law School and an LL.M in taxation from New York University School of Law.
As general counsel for the hedge fund Long-Term Capital Management (LTCM), Rickards worked on Wall Street for 35 years. Rickards was the senior managing director for market intelligence at Omnis, Inc., a consulting firm. On March 24, 2009, Rickards presented his view at a symposium at Johns Hopkins, that the U.S. dollar was facing imminent hyperinflation and was vulnerable to attack from foreign governments through the accumulation of gold and the establishment of a new global currency.
Predictions and controversies
Rickards routinely presents doomsday prophesies predicting that prices of gold would increase ten to a hundredfold in the near future. In a 2012 interview with Greg Hunter (USA Watch dog), Rickards predicted that gold would rise in price to the “$5,000-$7,000” range in the next three to five years (2015–17). However, gold prices remained below $2,000 all through, right up to 2018. Most websites and people who vouch for Rickards tend to either be owned by him or have the same motivations as him (mostly sellers of precious metals /doomsday prophets).
In March 2017, he and his business colleagues Mike Maloney and Nomi Prins predicted that prices of gold would rise to anything between $10,000 to $50,000 in the near future. Stock newsletter reviews calls his newsletters overpriced at $3,000 per year. Most of Rickards views are popularized by the speculator firm Kitco news, dubious websites such as "the street" and "the crux" and through promotional content on RT.
Rickards' first book, Currency Wars, was published on November 10, 2011, by Portfolio, an imprint of Penguin Group. In it, Rickards argues that currency wars are not just an economic or monetary concern, but a national security concern. He maintains that the United States is facing serious threats to its national security, from clandestine gold purchases by China to the hidden agendas of sovereign wealth funds and that greater than any single threat is the very real danger of the collapse of the dollar itself. Rickards explains that the Federal Reserve is involved in what he calls "the greatest gamble in the history of finance," via a sustained effort to stimulate the economy by printing money on a trillion-dollar scale.
Rickards' second book The Death of Money was released on April 8, 2014 and was a New York Times bestseller. His third book The New Case for Gold was released on April 5, 2016. His fourth book The Road to Ruin: The Global Elites' Secret Plan for the Next Financial Crisis was released on November 15, 2016.
- Selected articles
- James G. Rickards, "A Mountain, Overlooked" The Washington Post (October 2, 2008). Retrieved May 16, 2011
- Charles Duelfer and Jim Rickards, "Financial Time Bombs" The New York Times (December 20, 2008). Retrieved May 16, 2011
- James Rickards, "How markets attacked the Greek piñata" The Financial Times (February 11, 2010). Retrieved May 16, 2011 (registration required)
- "Gold price could smash $10,000 on crashing dollar & other factors – Jim Rickards". RT. 29 January 2018. Retrieved 28 May 2018.
- "Jim Rickards Gold Speculator with Byron King". http://www.stocknewsletterreviews.com/. Stock newsletters. Retrieved 28 May 2018. External link in
- "Gold price chart - last 10 years". https://goldprice.org/. Gold price. Retrieved 28 May 2018. External link in
- Hunter, Greg (23 July 2012). "One-on-One with James Rickards". USA Watchdog. Retrieved 28 May 2018.
- Alumni members Caper 10 Alumni Association. Retrieved May 15, 2011
- "James G. Rickards, Senior Managing Director for Market Intelligence" Archived 2010-01-06 at the Wayback Machine. Omnis, Inc. Retrieved May 13, 2011
- Bei Hu, "China Is in Midst of 'Greatest Bubble in History,' ex-LTCM's Rickards Says" Bloomberg (March 17, 2010). Retrieved May 14, 2011
- Kathryn M. Welling, "Threat Finance: Capital Markets Risk Complex and Supercritical, Says Jim Rickards" (PDF) welling@weeden (February 25, 2010). Retrieved May 13, 2011
- "Omnis's Rickards Interview March 24 on Middle East Unrest" Bloomberg News (March 24, 2011). Retrieved May 13, 2011
- "A sneak attack on the U.S. dollar?" Politico (April 1, 2009).
- "Testimony of James G. Rickards, Senior Managing Director for Market Intelligence, Omnis, Inc., McLean, VA" (PDF) U.S. House Committee on Science, Space and Technology (September 10, 2009). Retrieved May 16, 2011
- "Is $10,000 Gold What Investors Want? - Jim Rickards". www.thestreet.com/. The street. Retrieved 28 May 2018.
- Book website Retrieved November 2, 2011