“The 1962 Cuban Missile Crisis came well before the current age of AI, yet computers were in use and technology played a critical role in the form of U-2 spy plane photos that showed Soviet missile installations in Cuba. Protocols… — James Rickards Copy Share
“The Soviets had ... built an early warning radar system with computer linkages using a primitive kind of AI code-named Oko. On September 26, 1983, ... the system malfunctioned and reported 5 incoming ICBMs from the United States. Oko alarms… — James Rickards Copy Share Image
“If an economy has a stagnant labor force operating at a constant level of productivity, it will have constant output but no growth. The main drivers of labor force expansion are demographics and education, while the main drivers of productivity are capital and technology. Without those factor inputs, an economy cannot expand. But when those factor inputs are available in… — James Rickards Copy Share
“The 1962 Cuban Missile Crisis came well before the current age of AI, yet computers were in use and technology played a critical role in the form of U-2 spy plane photos that showed Soviet missile installations in Cuba. Protocols and standard operating procedures were in place, ... Still, it was human judgment as displayed in Khrushchev's letter to Kennedy… — James Rickards Copy Share
“It is one thing when prices drift downward over time due to innovation, scalability or other efficiencies. This might be considered “good” deflation and is familiar to any contemporary consumer who has seen prices of computers or wide-screen TVs fall year after year. It is another matter when prices are forced down by unnecessary monetary contraction, credit constraints, deleveraging, business… — James Rickards Copy Share
“A country running deficits under the gold exchange standard could find itself like a tenant whose landlord does not collect rent payments for a… — James Rickards Copy Share Image
“This ... he largest financial bailout in history ... was not just a bailout of SVB [Silicon Valley Bank]. It was a bailout of… — James Rickards Copy Share Image
Derivatives serve practically no purpose except to enrich bankers through opaque pricing and to deceive investors through off-the-balance-sheet accounting. — James Rickards Copy Share Image
“Printing dollars at home means higher inflation in China, higher food prices in Egypt and stock bubbles in Brazil. Printing money means that U.S. debt is devalued so foreign creditors get paid back in cheaper dollars. The devaluation means higher unemployment in developing economies as their exports become more expensive for Americans. The resulting inflation also means higher prices for… — James Rickards Copy Share
What does reflect reality very well is complexity theory, which comes from physics. I'm the one pioneering the idea of bringing it to capital… — James Rickards Copy Share Image
“On the whole, it is difficult to think of another government agency that has failed more consistently on more of its key missions than… — James Rickards Copy Share Image
“Elite support for so-called free trade is due to the fact that elites share a global perspective at odds with the best interests of… — James Rickards Copy Share Image
“The irony is that when you set out to remove bias you use your own possibly unconscious biases in deciding what's harmful and what… — James Rickards Copy Share Image
“The solutions to this systemic risk overhang are surprisingly straightforward. The immediate tasks would be to break up large banks and ban most derivatives.… — James Rickards Copy Share Image
![“This ... he largest financial bailout in history ... was not just a bailout of SVB [Silicon Valley Bank]. It was a bailout of over fifty thousand SVB depositors with over $170 billion in deposits. It was a bailout of SVB's customers, it's employees, their suppliers, and the entire high-tech…” quote by James Rickards](https://sms4smile.com/quotes/img-quotes/385/james-rickards-25234_around-the-world_this-he-largest-financial-bailout-in-his_360776.jpg)
