James Rickards: "Put on your crash helmets for a wild ride in the coming year."

"China, the U.S. and Japan will all fall into recession in the coming months. The EU is already in recession. A rare global recession will be the result in 2024."

"My overall forecast is that 2024 will be more tumultuous and shocking than 2023. That may seem hard to credit."

There will be many predictions for what 2024 holds but they seem quieter than usual. James Rickards isn't known for whispers so here are extracts from his reckoning.

1. It’s a cliche to write that the next presidential election will be the most important in our lifetimes. Yet in 2024 that cliche will actually be true. [Biden's] most likely replacements are Gavin Newsom, J.B. Pritzker, Gretchen Whitmer and Jennifer Granholm... Third-party candidates will divide the Democratic vote... Trump will be the [Republican] nominee. [He's] facing over 90 felony charges in four separate indictments in two state courts and two federal courts. A criminal conviction (likely in my view) will further solidify Trump’s base... Trump will win back the presidency."

2. China, the U.S. and Japan will all fall into recession in the coming months. The EU is already in recession. A rare global recession will be the result in 2024.

3. Russia is winning the war decisively. The West and Ukraine have shown no willingness to negotiate and there’s no reason for the Russians to negotiate because they’re winning... Russia will not de-escalate because they’re winning. Biden will not de-escalate because he’s senile, is surrounded by warmongers and has no reverse gear.

4. If the escalation scenarios play out [with Israel and Gaza and the Middle East], even in part, expect oil prices to go to $150 per barrel or higher. That will put the U.S. and Western Europe in a recession worse than 2008 and the earlier oil shock of 1974.

5. More acute banking crisis is coming after the quiet period that has prevailed since June. This new crisis will be focused on about 20 banks with $200–900 billion in assets — the so-called midsized regional banks that are not too big to fail. Crises of this sort can feed on themselves and cause losses that go far beyond the particular banks that may be most vulnerable. A new global financial crisis could be the result. It will be a bad year for stocks, a good year for Treasury securities and a down year for commodities, except for energy and gold. The winners will be Treasuries, gold, oil and King Dollar.

Put on your crash helmets for a wild ride in the coming year."

WHAT JAMES RICKARDS SAID 5 YEARS AGO ABOUT RUSSIA, CHINA, IRAN AND TURKEY STOCKING GOLD TO ESCAPE THE DOLLAR & SANCTIONS