James G. Rickards is an American lawyer, economist, and investment banker with 35 years of experience working in capital markets on Wall Street. He is a writer and is a regular commentator on finance. Rickards has been advising clients of an impending financial collapse, of a decline in the dollar and a sharp rise in the price of gold for years. Rickards is the author of The New York Times bestseller Currency Wars, published in 2011. Biography [edit ]
Rickards graduated from Cape May High School in
Cape May, New Jersey in 1969. He graduated from [1 ] The 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 [2 ] Juris Doctor from the University of Pennsylvania Law School and an LL.M in taxation from New York University School of Law. [3 ]
In 1981, Rickards was involved in the
Iran hostage crisis. As general counsel for the [4 ] hedge fund Long-Term Capital Management (LTCM), [5 ] he was the principal negotiator in the 1998 bailout of LTCM [6 ] by the [7 ] Federal Reserve Bank of New York.
Rickards worked on Wall Street for 35 years.
In 2001, he began using his financial expertise to aid the U.S. [8 ] national security community and the U.S. Department of Defense. [9 ]
Rickards is now the senior managing director for
market intelligence at Omnis, Inc., a consulting firm. [7 ] On March 24, 2009, Rickards presented his view at a symposium at Johns Hopkins, that the U.S. dollar is vulnerable to attack from foreign governments through accumulation of gold and establishment of a new [3 ] global currency. The same week, [10 ] Zhou Xiaochuan, governor of the People’s Bank of China, called for a new currency to be introduced and operated by the International Monetary Fund to replace the dollar as the basic unit of international commerce. [10 ]
On September 10, 2009, Rickards testified before the
U.S. House of Representatives about the risks of financial modeling, VaR, and the 2008 financial crisis. [11 ]
On January 29, 2012, on
Bob Brinker's radio program, Rickards stated his belief that the U.S. has been in a depression since 2007. He backed this assertion by pointing out the existence of a major component of previously seen U.S. depressions, the prolonged high rate of unemployment.
Rickards is a Senior Managing Director of Tangent Capital in New York,
and lives in [12 ] Darien, Connecticut, where he is on the Republican Town Committee. [13 ] Publications [edit ]
Rickards' first book,
Currency Wars: The Making of the Next Global Crisis, 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 [14 ] 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. 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) References [edit ] ^ Alumni members Caper 10 Alumni Association. Retrieved May 15, 2011 ^ "Gifts by Alumni and Friends of The Johns Hopkins University" (PDF) Johns Hopkins University. "Scholarships, Fellowships, Awards, and Prizes", p. 572. Retrieved May 15, 2011 ^ a b "James G. Rickards, Senior Managing Director for Market Intelligence" Omnis, Inc. Retrieved May 13, 2011 ^ Short biography of Jim Rickards King World News (April 17, 2011). 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 ^ "LTCM General Counsel: 'The U.S. Stared Near-Catastrophe In The Eye, With LTCM, And Decided To Double Down.'" Zero Hedge (March 4, 2010). Retrieved May 13, 2011 ^ a b "Omnis's Rickards Interview March 24 on Middle East Unrest" Bloomberg News (March 24, 2011). Retrieved May 13, 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 ^ Speaker biography for Rethinking Seminar Series, 2010-2011: "Rethinking the Future International Security Environment" Johns Hopkins University Applied Physics Laboratory. Retrieved May 15, 2011 ^ a b "A sneak attack on the U.S. dollar?" Politico (April 1, 2009). Retrieved May 13, 2011 ^ "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 ^ http://www.tangentcapital.com/team.html ^ Town political committees – Darien, CT League of Women Voters. Retrieved May 15, 2011 ^ Book website Retrieved November 2, 2011 External links [edit ] Lori Ann LaRocco, Interview with Jim Rickards CNBC (January 13, 2011). Retrieved May 14, 2011 Ron Hera, "Interview: Jim Rickards on Inflation and Currency Wars" Financial Sense (February 4, 2011). Retrieved May 14, 2011 Jim Rickards - "Just like the 1930s" YouTube. (March 19, 2011). Retrieved May 14, 2011 "Jim Rickards on Quantitative Easing… Currency War… Inflation… Political Instability" Fiat Collapse blog, with video link to Rickards on Fox News (January 29, 2011). Retrieved May 14, 2011 Currency Wars on Amazon Currency Wars on Barnes and Noble Rickards' Twitter account @JamesGRickards