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Wealthion’s Best Of 2024: Jim Rickards
Dec 25, 2024
Jim Rickards, a renowned expert on geopolitics and finance, delves into the escalating Russia-Ukraine conflict, revealing heavy casualties and the struggles of Ukrainian forces. He critiques Western military support and discusses the unexpected economic ramifications of U.S. sanctions. The conversation shifts to a declining confidence in U.S. Treasury securities and the potential rise of gold as a safer asset. They also navigate the turbulent political landscape as Trump faces legal woes ahead of the 2024 election.
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Quick takeaways
- The deteriorating military situation in Ukraine highlights severe operational challenges, with significant troop losses and a collapse in morale amid Russian advances.
- U.S. sanctions on Russia appear ineffective, as indicators suggest a strengthening Russian economy, while the U.S. struggles with high debt levels affecting financial resilience.
Deep dives
The Collapse of Ukrainian Military Forces
The situation in Ukraine has drastically deteriorated, with reports indicating a staggering loss of around 500,000 Ukrainian soldiers. The military is described as being in a state of collapse, facing issues such as retreating forces, mutinies, and desertions. As Ukrainian troops face overwhelming pressure from Russian military advancements, many younger men are hiding or leaving the country to avoid being conscripted. The gravity of the situation is further exemplified by the inability of Western-provided military equipment to turn the tide of battle, leading to an increasingly desperate scenario for Ukraine.
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