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: