Friday, December 30, 2011

US to go to War with Iran, Oil & Gold to Spike

“The Obama administration has pursued diplomacy very vigorously. My view is it has failed. (The other possibility) would be a regime change. I say the war has already begun. There’s a lot of sabotage, there have been assassinations, strange things blowing up, rebellion. So there is enormous pressure being put on the Iranian regime from many directions. All of this is designed to destabilize the regime.

But I think the regime is too entrenched, the Iranian Revolutionary Guard Corp are to ruthless. They actually buy cranes, they hang people not from scaffolds, but from cranes, and they are buying more cranes because they are hanging more people. They’ll do whatever it takes, so I don’t see regime change.

What’s left? Well, what’s left is war and that is, unfortunately, where I see this heading."

- Read the full interview on King World News here:

Thursday, December 22, 2011

The Exchange: Currency Wars

"Rob Cox is joined by James Rickards, author of Currency Wars, and Breakingviews columnist Martin Hutchinson to discuss how a global competition to devalue currencies can be avoided."

Friday, December 16, 2011

The US Treasury Shorts the Dollar

"The Treasury is going short dollars. Think about the significance of that, Eric. The Treasury sponsors the dollar. You take a dollar bill out of your pocket and look at it, the Secretary of the Treasury signs every dollar bill. It’s sponsored and backed up by the Treasury and yet the Treasury is shorting its own currency by taking SDR notes from the IMF. My question is, if the Treasury is shorting the dollar, shouldn’t the rest of us be shorting the dollar too?”

- Read the full article here, at King World News:

Wednesday, December 14, 2011

The British Sterling is the Next Crisis!

Awkward how the British press keeps bashing the euro when the next crisis is the sterling.

- Jim Rickards, Twitter Update

Saturday, November 26, 2011

New Reserve Currency & Roubini Behind the Scenes

"The question is: Is that any more stable than the dollar? In the long run it’s really no more stable, but in the short run it may work to paper over. I mean we papered over the depression in 2010 with dollars. We may paper over the depression in 2011, 2012 with euros. Eventually they are going to try to paper it over with SDR’s, but at the end of the day it’s all just paper.”

- Read the full interview at King World News, here:

Tuesday, November 22, 2011

Who Will Bail Out the Fed & How High for Gold?

The United States now has a system in which the Treasury runs huge deficits and sells bonds to keep from going broke. The Fed prints money to buy those bonds and loses money owning them. Then the Treasury takes IOUs back from the Fed to keep the Fed from going broke. This arrangement resembles two drunks leaning on each other so neither one falls down. Today, with its 50-to-1 leverage and investment in volatile securities, the Fed looks more like a poorly run hedge fund than a central bank...

- Read the full interview at King World News, here:

Saturday, November 19, 2011

Jim Rickards - Gold Pullback Meaningless, It’s Headed Higher

“Here’s the point, whether you end up with $5,000, $7,000, Paul is saying $10,000 and that’s a perfectly respectable estimate, I could (even) see it (gold) at higher levels, $15,000 or $20,000. In other words, the price level that I have given, that is in chapter eleven of the book, is based on today’s data.

Now if you change the data, if you print even more money than we’ve printed so far, you’ll get even higher prices. But the point is Paul’s estimate is right in the middle of the range that I’ve come up with, a perfectly good estimate. We all like our investments to go up, but if you buy gold at $1,700 and it goes to $1,500, buy more because it’s on its way to $2,000, $3,000, $4,000 and higher.

The fundamental story (for gold) is completely intact, in fact it’s getting stronger...."

- Jim Rickards, via a recent King World News Interview, read the full interview here:

Tuesday, November 15, 2011

Jim Rickards - The US Won’t Give Germany its Gold

“Now Italy has come out recently and they have actually been a little more transparent and they say most of their gold is in Italy, in Rome.

But I do know looking at it from a US perspective, as I’ve described in the book Currency Wars, if the US gets into extreme distress, and there’s a collapse in the dollar, I have no doubt that in an emergency basis the US will basically confiscate all the gold in their possession. Then they will convert it to back up a new gold based US dollar as plan B or some way to stop the crisis.

So it’s a political question for Germany as to whether they want their gold back, but sometimes you don’t ask questions if you don’t think you are going to like the answer. It would be interesting if Germany demanded that gold be shipped to Frankfurt or Berlin what the US would say.”

- Jim Rickards via a recent King World News Interview, read the full Interview here:

Wednesday, November 9, 2011

Currency Wars: The Making of the Next Global Crisis - Launches tomorrow!

Jim Rickards new book "Currency Wars: The Making of the Next Global Crisis" launches tomorrow, if you haven't already pre-ordered your copy, make sure you get it asap, should be a fantastic book. I have mine ordered.

Tuesday, November 8, 2011

Jim Rickards on Currency Wars

"Jim Rickards discusses his new book "Currency Wars" and gives valuable insight into the current economic conditions. If you have seen my channel, you know that I am a big Jim Rickards fan because he gives analysis that has proven to be not only correct, but is a glimpse into what will be happening in the future. Jim gives a great explanation to the paradox of the rising Euro when it appears the EU is falling apart."

                                                                 Charms and Beads

Thursday, November 3, 2011

Weak USD? No QE3!

Said it before, I'll say it again. Key to QE3 is not U.S. economic data, it's the USD/EUR and USD/CNY cross rates. Weak USD = No #QE3.

Friday, October 21, 2011

Do the opposite of Goldman Sachs!

"Best advice I can give you is to listen carefully to Goldman Sachs then do the opposite."

Monday, October 17, 2011

The Fed is Destroying the Dollar!

“The Fed has been systematically trying to destroy the US dollar. Inflation is like a thief in the night that breaks in while you are asleep. Inflation is very sneaky and people aren’t as aware of it. Sophisticated people are, insiders are and people who see it coming know how to hedge against it, but average Americans don’t and they are victimized by it.”

- Read the full interview on King World News here:

Thursday, October 13, 2011

Russia's Door Still Open? Jim Rickards - Interviewed on BNN

Jim Rickards was recently interviewed on the Canadian Business News Network - BNN. You can view the interview here:

Sunday, October 9, 2011

The News Never Stops!

"Dirty secret of the 24 hour news cycle is that sometimes there's no news. Genius of protest is that it fills the news void 24/7."

- Jim Rickard referring to the "Occupy Wall Street" protest, and various other protest happening worldwide.

Friday, October 7, 2011

Jim Rickards - Who’s the Sucker at the Global Gold Poker Table?

"When asked how those officials from the Middle-Eastern countries view paper money, Rickards responded":

“Well, the way I would put it, Eric, it is a joke, but they are in on the joke. They understand the vulnerability of it. They understand the gaming of it and the way paper money is used to transfer wealth from people who don’t really understand it to those who do and are in a position to manipulate it."

- Jim Rickards, via a recent King World News Interview:

Tuesday, October 4, 2011

Jim Rickards: More or Less Regulation?

"Do I favor more or less regulation? Answer: both. Less regulation for entrepreneurs & more for Wall Street that sucks life from economy"

Saturday, October 1, 2011

Greece Austerity Plans are Hopeless

"Firing workers in Greece costs more severance than keeping them on payroll. So latest "austerity" plan is to fire no one. Totally hopeless."

Wednesday, September 28, 2011

U.S Easy Money is the Problem

"In 2010 it was all about criticizing China. Today it's all about Europe. When will the world see that U.S. easy money is really the problem."

- Jim Rickards

Sunday, September 25, 2011

James G. Rickards talks to James Turk

James G. Rickards ( and James Turk, Director of the GoldMoney Foundation, talk about the European sovereign debt crisis and the European Central Bank buying Italian bonds. They talk about the ECB's role in the crisis and how it is becoming increasingly politicised, in contrast with its predecessor of sorts -- the Bundesbank. They talk about the possible differences between Jean-Claude Trichet and his successor Mario Draghi. James Rickards explains how Europe is developing a common fiscal policy with a common Treasury, in the form of the European Financial Stability Facility (EFSF), which will dictate fiscal policy to many member countries -- such as Greece -- in exchange for rescue funds. Rickards is bullish on the euro, among other reasons because the eurosystem owns 10,000 tonnes of gold.

Rickards and Turk debate whether or not central banks really own the gold they claim to own, and talk about how the current currency war -- with countries competing to see who can devalue their currencies the most -- is a disastrous zero-sum game. They discuss the problems facing countries whose currencies are appreciating rapidly, such as Brazil and Switzerland, and what these countries might do to curb this appreciation.

They comment on the recent debt-ceiling debate and how the compromise reached, despite all the headlines, does not actually include any real cuts, including only cuts in proposed increases. Rickards mentions his four possible scenarios for the future of the international monetary system: SDR, gold, multiple reserve currencies or chaos.

They talk about the potential for hyperinflation as the US government continues to rely on debt, instead of revenue, to finance an increasing portion of its outlays. Jim Rickards sees the potential for both deflation and hyperinflation and explains that it will depend largely on the actions of the Fed, with Bernanke leaning more in the direction of more money printing.

They discuss South Korea's recent acquisition of 25 tonnes of gold, as well as Indian and Chinese buying. Rickards explains that China is trying to bypass the world market by buying directly from miners.
James G. Rickards forthcoming book is: Currency Wars. The making of the next global crisis.

This interview was recorded on August 4 2011 in London.