Jim Rickards talks about next financial crisis and gold

It’s only a matter of time before the next financial crisis descends – and it’s destined to be far more destructive than any before.

So says Jim Rickards, a New York Times bestselling author, adviser to the US Department of Defence and the US intelligence community.

Central banks still have debt in the trillions of dollars from the last crisis and simply won’t have the ammunition to cope with the next one, he says.

In this latest episode of the Big Money Questions, Jim tells presenter Rachel Rickard Straus why he believes the next crisis is looming, what it will look like and what can be done to mitigate it.

He also explains how individuals can prepare their investments – including buying physical gold, which he believes could hit $10,000 an ounce, up from around $1,170 today.