Rickards, whose latest book is called "The New Case for Gold," says the yellow metal is a necessary survival tool to combat the next crash. Rickards, explains,
"Part of the reason for having gold is, the next time, the response is going to be very different. The last time, they printed money to bail out the system. They can't do that again because they never took the money back. The balance sheets are still bloated. . . . All the global central banks are in terrible shape. The central bank balance sheets look like really bad, highly leveraged hedge funds. So, what are they going to do instead? . . . . They are going to flood the zone with trillions of SDR's (Special Drawing Rights currency from the IMF). That's going to be highly inflationary. The other thing that's going to happen is they are going to lock down the system. They are not going to bail out the banks. They are going to close the banks, close the exchanges and suspend redemptions in money market funds. They will reprogram the ATM's so you can only get $300 for gas and groceries. It's going to look like Greece or Cyprus."What is Rickards advice to the man on the street? Rickards says,
"This will be a bigger collapse than ever before. The only rescue will come from the IMF, which will be inflationary, and they will lock you out of the system, which means you won't be able to get your money. So, my advice is to get some gold now. Don't wait for the panic. Don't wait for the price spike because you won't get it when the buying panic kicks in. So, get your gold now, and put it in a safe place. Gold is non-digital. You can't hack it. You can't erase it. You can't freeze it. That will see you through the crisis."On top of that, Rickards says, "The Fed wants inflation . . . . They are not getting it, but they have to have it. What does that mean for policy? That means they are not going to give up . . . . They are going to keep trying until they get inflation, and when that happens, you are going to wish you had your gold."
How much will gold be in the future? Richards calculates, "$10,000 per ounce with 40% backing . . . if you had 100% backing (of the dollar), that number would be $50,000 per ounce. The implied non-deflationary price of gold, depending on your assumptions, is between $10,000 and $50,000 per ounce. If you are going to have a gold standard and you want to avoid the blunder of the 1920's, you are going to have gold at least at $10,000 per ounce and possibly much higher. I explain all this in my book."
Join Greg Hunter as he goes One-on-One with James Richards, the best-selling author of the brand new book called "The New Case for Gold."
(There is much more in the video interview.)
After the Interview:
There is free information about James Rickards' events and books on JamesRickardsProject.com. If you would like to buy a copy of Jim's new book "The New Case for Gold," click here.
This article paints the banking elites (our true rulers) as failing in their attempts to prop up their broken system (the system that keeps us enslaved to debt). Rickards is pushing the theory that the next inevitable crash will (quite by accident!) push us into even more poverty and debt enslavement.
All by accident
Presumably these very same elites control the world's gold supply and storage...quite by accident.
I think the crashes, just like the incessant wars, ARE THE SYSTEM and it looks like Rickards is telling us the big one is coming, i.e. locked-in rule by the bats**t crazy banksters. He's selling fear, that's all.
Some background information...
Rickards is a shill and he's preparing us for the elite's 1000 years of darkness (Escobar states he's a CIA asset)
"Jim Rickards, the author of Currency Wars, economist and CIA asset, has just released a new book, The Big Drop, with a pretty grim message."
[Link]
All wars are bankster wars
[Link]
We don't need the banksters system of usury
[Link]