Jim and Lori Bakker discuss the current economic state of the world with James Rickards and Michael Snyder.
Well again I go back to gold, but just 10%. I want to be clear about that because people say, “Jim Rickard’s says, ‘Sell everything and buy gold’”. I have never said that, I don’t recommend going all in any asset. Gold for 10%, land, houses, silver, fine art, and there are some fine art funds out there. Have some cash. -James Rickards
First of all, that is true, so-called stock buybacks, where a corporation takes its cash and goes to the market and buys its own stock to get the price up. That has been going on to an unprecedented level. -James Rickards
Well Pastor, if you think zero is bad, how about negative? In a lot of the parts of the world, not yet in the United States, but in Switzerland, Japan, Europe, Sweden, and elsewhere, they have negative interest rates. That means you put your money in the bank, you come back a year later, and there’s less money, they took the money away. -James Rickards