A Global Liquidity Crisis with Massive Food Shortages Is Coming Warns Jim Rickards

In part one of Jim Rickards’ discussion with our Daniela Cambone, the NYT best-selling author said “the coexistence of economic sanctions and kinetic warfare is nothing new.” The rising tensions between the United States and Russia did not brew overnight, Rickards continues. Ukraine should be a “buffer state and should be neutral,” Rickards says, emphasizing that economic sanctions not only punish Russian citizens, but also punish American citizens. Rickards implies that there will be massive food shortages as Russia occupies Ukraine, saying, “the impact is already here, and it’s going to get a lot worse.” The Chinese yuan and Russian ruble will not replace the dollar as the world reserve currency, he concludes.