James G. Rickards is an American lawyer, economist, investment banker, speaker, media commentator, and author on matters of finance and precious metals. He is the author of Currency Wars: The Making of the Next Global Crisis (2011) and six other books. He lives in New Hampshire, USA.
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 Bachelor of Arts 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 Master of Laws in taxation from New York University School of Law.
He has held senior positions at Citibank, Long-Term Capital Management, and Caxton Associates. As general counsel for the hedge fund Long-Term Capital Management (LTCM), he successfully negotiated the US$3.6 billion rescue of the firm via the US Federal Reserve in 1998. Rickards worked on Wall Street for 35 years. Later, Rickards became the senior managing director at Tangent Capital Partners LLC, a merchant bank based in New York City, and also the senior managing director for market intelligence at Omnis, Inc., a technical, professional and scientific consulting firm in McLean, VA. On March 24, 2009, Rickards presented his view at a symposium at Johns Hopkins University, 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.
He has also advised the U.S. Department of Defense, the U.S. intelligence community, and major hedge funds on global financial issues, and has served as a facilitator of the first ever financial war games conducted by The Pentagon. He also guest-lectures at The Kellogg School at Northwestern University and the School of Advanced International Studies at Johns Hopkins University. He is on the Advisory Board of the Center on Sanctions & Illicit Finance in Washington DC.
Rickards's first book, Currency Wars: The Making of the Next Global Crisis, was published in 2011. In it, he argued that currency wars are not just an economic or monetary concern but a national security concern. He maintained that the United States faced 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 was the very real danger of the collapse of the dollar itself. Rickards charged that the Federal Reserve was involved in what he called "the greatest gamble in the history of finance." The Fed's easing of financial conditions through lowering long-term interest rates was, he wrote, "essentially a program of printing money to spur growth."
Rickards subsequently authored another six books:
- The Death of Money: The Coming Collapse of the International Monetary System (2014)
- The Big Drop: How To Grow Your Wealth During the Coming Collapse (2015)
- The New Case for Gold (2016)
- The Road to Ruin: The Global Elites' Secret Plan for the Next Financial Crisis (2016)
- Aftermath: Seven Secrets of Wealth Preservation in the Coming Chaos (2019)
- The New Great Depression: Winners and Losers in a Post-Pandemic World (Jan 2021)
Rickard's second book The Death of Money was released on April 8, 2014 and was a New York Times Best Seller. 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.
In The Road to Ruin, Rickards propagates the idea which was first articulated by the Indian economist Arvind Kumar in the Indian newspaper Daily News and Analysis and which rang the alarm bells that the combination of negative interest rates and cashless currency was a design to destroy the savings of people. The book also promulgates the conspiracy theory that "global elites" are using the "hobby horse" of climate change to advance a "new world order" that includes a global currency.
He is an Op-Ed contributor to The Financial Times, Evening Standard, New York Times, and Washington Post. He is the Editor of Strategic Intelligence, a financial newsletter, and Director of The James Rickards Project, an inquiry into the complex dynamics of geopolitics and global capital.
- 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". stocknewsletterreviews.com. Stock newsletters. 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
- "About James Rickards". Amazon.com.
- Bei Hu, "China Is in Midst of 'Greatest Bubble in History,' ex-LTCM's Rickards Says" Bloomberg (March 17, 2010). Retrieved May 14, 2011
- "About James Rickards". The Daily Reckoning Australia, Author Bio. Missing or empty
- Kathryn M. Welling, "Threat Finance: Capital Markets Risk Complex and Supercritical, Says Jim Rickards" Archived 2012-01-31 at the Wayback Machine (PDF) welling@weeden (February 25, 2010). Retrieved May 13, 2011
- "James Rickards". The Globalist. Retrieved 2 December 2020.
- "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
- Kumar, Arvind (February 5, 2014). "Banking transaction tax is a dangerous idea". DNA India.
Media related to Jim Rickards at Wikimedia Commons