Jim Rickards interview: gold, economy, interest rates & the monetary system

Jon Ward, Physical Gold Fund, Released on 5/20/16 (Recorded on 5/18/16)

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*The West is waking up to Gold
*Gold inflows have exceeded $13 Billion so far in 2016
*Paul Singer, Stanley Druckenmiller, Jeffrey Gundlach, George Soros all recommending gold
*Gold is the best performing asset for both 2016, as well as the last 16 years since 2000
*There has been a change in teh conversation and narrative about gold in the West
*Investors are losing confidence in Central Banks which is fueling the awareness about gold
*As we have discussed previously on The Gold Chronicles, the technical set up for gold to rise has been in place for some time, and was only awaiting a shift in Western sentiment
*PIMCO economist suggesting an official re-pricing of gold to defeat current deflation and reach Fed inflation targets
*Discussion of how open market operations by the Fed to raise the official price of gold would work
*Kenneth Rogoff is recommending developing economy countries to increase their gold reserves to 10% to diversify reserves composition
*Chief Economist BIS indicates the world monetary system is lacking an anchor – why we think this anchor could be gold
*Why a gold linked SDR could make sense as an international monetary system anchor
*Any attempts to re-anchor the monetary system to gold would require a non-deflationary USD gold price of $10,000 per troy ounce
*Feasability of using gold as an international unit of account today – even if all goods were measured in gold, it would likely require some kind of digital token to facilitate transactions
*No expectations of a Fed rate hike in June
*Detailing a scenario under which the gold price could go down significantly, and the probability of such an event
*Commentary on China’s gold reserves

Click Here to Listen to the Interview

Jim Rickards is a lawyer, investment banker and economist with over thirty years’ experience in capital markets. He is currently Senior Managing Director at Tangent Capital Partners LLC. He advises the Department of Defense, the U.S. intelligence community, and major hedge funds on global finance, and served as a facilitator of the first ever financial war games conducted by the Pentagon. A frequent guest on financial news programs, Rickards is also the author of The New York Times bestselling novels Currency Wars: The Making of the Next Global Crisis and The Death of Money. Jim’s latest book, The New Case for Gold, will be released on April 5, 2016 and is currently available for pre-order.

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