The comments below are an edited and abridged synopsis of an article by James Rickards
There has been a litany of bad news recently, including America’s recent humiliation in Afghanistan, China’s aggressive actions against Taiwan and increased tensions with Iran, Russia and North Korea.
It will take the US years, possibly decades, to recover from the debacle of August 2021 and the collapse of American prestige. All of these geopolitical events combine to undermine confidence in US power.
When that happens, a loss of confidence in the US dollar is not far behind.
And, perhaps most importantly of all recent bad news, is a market meltdown and slowing growth in China.
Rickards discusses the greatest Ponzi scheme ever and financial contagions are like biological contagions.