Jim Rickards: “There Will Be A War On Gold”

in #money6 years ago

Jim Rickards always makes a good case and is fun to listen to. In this interview, he makes some extremely important points about deflation resulting from demographics, debt and technology. But this immovable deflation directly conflicts with central banks and their policies so there will be an inflationary policy.

I doubt the end game has arrived but, nevertheless, it is important to be prepared for it! The long and slow grind will most likely continue. Consequently, having cash-flow, no debt, food storage, gold, bitcoin and good reading materials.

What do you think? How are you preparing for this uncertain future? Have the monetary mandarins and central banks created an unavoidable mess or will humanity figure out a way through it without too much destruction? Think there will be a complete war on gold by politicians and central banks?

Some great quotes from the interview:

Two tectonic plates; there’s the natural tectonic plate—deflation—and then…the policy plate of inflation—which is money printing, currency wars, QE, operation twist, negative interest rates, and zero interest rates…

These [tectonic] forces are not only coming together, but they’re getting more powerful and they’re going to snap…When? No one knows... [But] the effect will be dramatic.

That tectonic “snap” will have a ​devastating impact on peoples’ confidence in fiat currencies. Confidence will be lost very quickly. And like a coiled spring, You will have your inflation—all at once. ...

I was down in Washington, DC and visited the Pentagon. We were doing a closed door war game [with] maybe 20 people around the table…government officials, CIA, military, think tank people and bankers, etc.

I was talking about SDRs… [And] a very senior official in the US Treasury…sitting one person away from me (there was somebody in between us), and he said, “Don’t you…

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too many highly intelligent people, are talking about a key date to look in to. I is on October 02,2016.

This is a great article. Gold triggered a new Bullish Buy Alert on 18th Dec 2015 at $1,046 and has been going up since. It is way undervalued. We have a target of $27,000oz by 2021. That is no typo..!! Was happy to share this on Twitter at stephenpkendal. Stephen.

another great post @Trace !

Jim Rickards always makes a good case and is fun to listen to

/agree ! btw ! Would have loved to have been at the "Sprott Resource Symposium", were you there? If so what did you "take away" ?
As to your question:

"What do you think? How are you preparing for this uncertain future?

Gaining personal knowledge (truth Info) and setting and acting upon realistic goals for asset protection is what I believe to be most important for the rich or POOR !

Whole system is falling apart . If they are preparing such scenario , that is clearly a confession . They can't back up printing of money any more . Money has no value .

There IS a war on gold... ;)

Yet another good one @tracemayer!

Mr. Rickards has a deep insight on how the world monetary situation is evolving, and it is very revealing to listen to his commentaries.
Nevertheless, he is a bit nearsighted when it comes to Bitcoin and Crypto-currencies. I wonder if he will ever get it ....
Of course, he might think that Bitcoin could be competing with gold, so he could have decided to ignore cryptos altogether.

@tracemayer yes definitely preparing for an uncertain future... having cash-flow, no debt, food storage, gold, bitcoin and good reading materials is sage advice. I have all but am trying to improve my cash flows, any ideas that you recommend?

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