Sunday, March 30, 2014
Jim Rickards Says We Don't Need a Central Bank
Friday, March 28, 2014
China and Russia are Buying Gold for the Upcoming Currency War
Russia has increased its gold reserves 70%. China has increased its gold reserves several hundred percent. No one knows the exact number, but clearly two or three or four times what they say they have.
And it was recently disclosed that in 2008 during the financial crisis, Russia called China and suggested coordinating, dumping their stock and bonds and Fannie Mae to make the financial crisis worse. This was actually disclosed by Hank Paulson who was Treasury Secretary at the time, in an interview he gave a couple of days ago actually to the BBC.
So here we have all the evidence of what we talked about. That China buying gold, Russia buying gold. China and Russia coordinating their efforts to the detriment of the United States and the US dollar. This is all documented facts. When we said it in 2009 people laughed at us, but since then it’s all played out.
So I have a lot of things in the new book. I don’t think it will be laughed at. I think people will take it seriously and I would just say, I think it would take the reader forward, taking the story forward, and giving people some glimpse of the shape of things to come.
And it was recently disclosed that in 2008 during the financial crisis, Russia called China and suggested coordinating, dumping their stock and bonds and Fannie Mae to make the financial crisis worse. This was actually disclosed by Hank Paulson who was Treasury Secretary at the time, in an interview he gave a couple of days ago actually to the BBC.
So here we have all the evidence of what we talked about. That China buying gold, Russia buying gold. China and Russia coordinating their efforts to the detriment of the United States and the US dollar. This is all documented facts. When we said it in 2009 people laughed at us, but since then it’s all played out.
So I have a lot of things in the new book. I don’t think it will be laughed at. I think people will take it seriously and I would just say, I think it would take the reader forward, taking the story forward, and giving people some glimpse of the shape of things to come.
- Source, Sprott Money:
Wednesday, March 26, 2014
Minter Talks Trash & Best of with Jim Rickards, Cullen Roche, and James Turk
For our interview today, we invite "Junkyard Planet" author Adam Minter to come on and talk trash. He gives some amazing insight into the ways trash can reveal the health of the economy, comments on shipping costs and the prospect of the alliance of the 3 biggest shipping companies, and explains why he believes that we still aren't seeing a roaring recovery in the global economy yet.
For our Best Of the Week, we bring you the best clips from Cullen Roche, James Turk, and Jim Rickards. And "In the Margins," Edward and Erin bring you some of the most interesting comments we received from social media. Watch to catch up on what's happening with Boom Bust around the web.
- Source, Russia Today:
Monday, March 24, 2014
Monetary Solutions Can't Solve Structural Problems
Erin brings you part two of our interview with economist and author Jim Rickards. He argues that monetary solutions can't solve the structural problems we around the globe. Rickards argues that the only region who has made such adjustments has been Europe. Listen to learn more about how he understands structural problems and what he believes needs to change. After the break, we bring you Erin's interview with Tom Ferguson, a professor of political science at the University of Massachusetts-Boston. He brings you his insight in the huge flow of money in our political campaigns and how that affects politics.
For today's Big Deal, Erin sits down with Edward Harrison to talk about Abenomics' struggles to solve Japan's enduring economic woes. Edward believes that Abenomics is a failure. Tune in to see why.
- Source, Russia Today:
Saturday, March 22, 2014
Thursday, March 20, 2014
Dollar Debasement, Bitcoin and The Zeitgeist Movement
Switzerland's Mediterranean Shipping Company, France's CMA CGM Group, and Denmark's Maersk Line are all coming together to form an operation called the "P3 Alliance." Erin brings you the details.
For our first segment, Erin sits down with economist and author Jim Rickards to talk about money. Rickards argues that confidence is a crucial characteristic for money, and explains why he thinks that the confidence in the dollar is eroding. He warns that our system is unstable, which could make confidence in the dollar disappear quickly. After the break, Erin brings you Peter Joseph, a filmmaker and founder of the Zeitgeist Movement. Joseph also believes that our current system is unsustainable, and he explains how the Zeitgeist Movement's approach can improve the economy and society.
In our Big Deal today, Edward Harrison and Erin sit down to discuss the "true" identity of Satoshi Nakamoto. It turns out that the real name of Satoshi Nakamoto is...Satoshi Nakamoto. A new story looks into the life of a Japanese-American man in California whose life details seem to match up with the man behind Bitcoin. Edward brings you more.
- Source, Russia Today:
Friday, March 14, 2014
Gold Purchased by the Chinese Will Not be Seen Again for 300 Years
There is a total supply of gold in the world. But to corner a market or squeeze a market, you don’t need to buy all the gold, you just need to buy the floating supply. Think of all the gold in the world, it’s about 170,000 tons. Think of a little sliver on top of it that is the floating supply available for trading.
Gold that’s in the Comex or JPMorgan or GLD vaults is available for trading. Gold purchased by the Chinese will not see the light of day again for the next 300 years, and is not available for trading. So with the gold going from West to East, and from GLD to China, the total amount of gold is unchanged, but the floating supply is declining rapidly.
This means that the paper gold that sits on top of the floating supply is becoming more and more unstable and vulnerable to a short squeeze, because there is not enough physical gold to support it. So that’s likely to collapse at one point and lead to a short squeeze and heavy buying.
Gold that’s in the Comex or JPMorgan or GLD vaults is available for trading. Gold purchased by the Chinese will not see the light of day again for the next 300 years, and is not available for trading. So with the gold going from West to East, and from GLD to China, the total amount of gold is unchanged, but the floating supply is declining rapidly.
This means that the paper gold that sits on top of the floating supply is becoming more and more unstable and vulnerable to a short squeeze, because there is not enough physical gold to support it. So that’s likely to collapse at one point and lead to a short squeeze and heavy buying.
- Jim Rickards via:
Wednesday, March 12, 2014
China is Buying Thousands of Tons of Gold Secretly
One of the big movements right now is gold moving from places like UBS, Credit Suisse, and Deutsche Bank to private storage such as G4S, ViaMAT, and Brink’s. That doesn’t increase the supply of gold at all. But what it does do is it decreases the floating supply available for trading.
If I have my gold at UBS, UBS typically has the right of rehypothecation. But if I take my gold and move it over to ViaMAT, it’s just sitting there and it’s not being traded or rehypothecated.
So, if I move gold from UBS to ViaMAT, there’s no more or less gold in the world. I’m still the owner, and it’s the same amount of gold. But from a market perspective, the floating supply has decreased.
The biggest player in that is China. China is buying thousands of tons of gold secretly through deception and using military intelligence assets, covert operations, etcetera.
If I have my gold at UBS, UBS typically has the right of rehypothecation. But if I take my gold and move it over to ViaMAT, it’s just sitting there and it’s not being traded or rehypothecated.
So, if I move gold from UBS to ViaMAT, there’s no more or less gold in the world. I’m still the owner, and it’s the same amount of gold. But from a market perspective, the floating supply has decreased.
The biggest player in that is China. China is buying thousands of tons of gold secretly through deception and using military intelligence assets, covert operations, etcetera.
- Jim Rickards via epoch times:
Monday, March 10, 2014
Will Gold Rally in 2014?
There is a total supply of gold in the world. But to corner a market or squeeze a market, you don’t need to buy all the gold, you just need to buy the floating supply. Think of all the gold in the world, it’s about 170,000 tons. Think of a little sliver on top of it that is the floating supply available for trading.
Gold that’s in the Comex or JPMorgan or GLD vaults is available for trading. Gold purchased by the Chinese will not see the light of day again for the next 300 years, and is not available for trading. So with the gold going from West to East, and from GLD to China, the total amount of gold is unchanged, but the floating supply is declining rapidly.
This means that the paper gold that sits on top of the floating supply is becoming more and more unstable and vulnerable to a short squeeze, because there is not enough physical gold to support it. So that’s likely to collapse at one point and lead to a short squeeze and heavy buying.
Gold that’s in the Comex or JPMorgan or GLD vaults is available for trading. Gold purchased by the Chinese will not see the light of day again for the next 300 years, and is not available for trading. So with the gold going from West to East, and from GLD to China, the total amount of gold is unchanged, but the floating supply is declining rapidly.
This means that the paper gold that sits on top of the floating supply is becoming more and more unstable and vulnerable to a short squeeze, because there is not enough physical gold to support it. So that’s likely to collapse at one point and lead to a short squeeze and heavy buying.
- Source, etf daily news:
Saturday, March 8, 2014
Where is Physical Gold Going
You can’t loot the warehouse twice. Once you take all the gold out, you can’t take it out again. JPMorgan’s vault is low, Comex’s vault is low, the GLD’s vault is low.
One of the big movements right now is gold moving from places like UBS, Credit Suisse, and Deutsche Bank to private storage such as G4S, ViaMAT, and Brink’s. That doesn’t increase the supply of gold at all. But what it does do is it decreases the floating supply available for trading.
If I have my gold at UBS, UBS typically has the right of rehypothecation. But if I take my gold and move it over to ViaMAT, it’s just sitting there and it’s not being traded or rehypothecated.
So, if I move gold from UBS to ViaMAT, there’s no more or less gold in the world. I’m still the owner, and it’s the same amount of gold. But from a market perspective, the floating supply has decreased.
The biggest player in that is China. China is buying thousands of tons of gold secretly through deception and using military intelligence assets, covert operations, etc.
One of the big movements right now is gold moving from places like UBS, Credit Suisse, and Deutsche Bank to private storage such as G4S, ViaMAT, and Brink’s. That doesn’t increase the supply of gold at all. But what it does do is it decreases the floating supply available for trading.
If I have my gold at UBS, UBS typically has the right of rehypothecation. But if I take my gold and move it over to ViaMAT, it’s just sitting there and it’s not being traded or rehypothecated.
So, if I move gold from UBS to ViaMAT, there’s no more or less gold in the world. I’m still the owner, and it’s the same amount of gold. But from a market perspective, the floating supply has decreased.
The biggest player in that is China. China is buying thousands of tons of gold secretly through deception and using military intelligence assets, covert operations, etc.
- Source Etf Daily News:
Thursday, March 6, 2014
There is Always Enough Gold in the World, It's a Matter of What Price
To restore confidence you have two means: You either flood the world with liquidity from the International Monetary Fund in the form of Special Drawing Rights [SDRs, a form of money issued by the IMF], or we return to a gold standard.
The flooding of the market with SDRs would be highly inflationary, so that by itself would drive gold to a higher level. If they go back to a gold standard they will have to take a non-deflationary price.
People say there is not enough gold in the world. The answer is there is always enough gold in the world. It’s just a question of the price. Now, at $1,300 an ounce, there is not enough gold to support world trade and finance. But at $10,000 per ounce, there is enough gold. It’s not about gold, it’s about the price.
If you go back to a gold standard you have to avoid the blunder that England made in 1925, by going back to the gold standard at the wrong price, which proved to be highly deflationary, and contributed to the Great Depression.
I’ve done the math on that and the non-deflationary price for a gold standard today is about $9,000 per ounce.
The flooding of the market with SDRs would be highly inflationary, so that by itself would drive gold to a higher level. If they go back to a gold standard they will have to take a non-deflationary price.
People say there is not enough gold in the world. The answer is there is always enough gold in the world. It’s just a question of the price. Now, at $1,300 an ounce, there is not enough gold to support world trade and finance. But at $10,000 per ounce, there is enough gold. It’s not about gold, it’s about the price.
If you go back to a gold standard you have to avoid the blunder that England made in 1925, by going back to the gold standard at the wrong price, which proved to be highly deflationary, and contributed to the Great Depression.
I’ve done the math on that and the non-deflationary price for a gold standard today is about $9,000 per ounce.
- Source, Jim Rickards via epoch times:
Tuesday, March 4, 2014
My Target for Gold is $7000 to $9000 per Ounce
Gold has a number of vectors. It is technically set up for a massive rally. Let me separate the fundamentals from the technicals.
Fundamentally my target price for gold is in the range of $7,000 to $9,000 per ounce. That’s not something that will happen straight away, but it’s not a 10-year forecast either. It’s a three- to five-year forecast, for the price to rise by about five to six times.
Fundamentally my target price for gold is in the range of $7,000 to $9,000 per ounce. That’s not something that will happen straight away, but it’s not a 10-year forecast either. It’s a three- to five-year forecast, for the price to rise by about five to six times.
- Jim Rickards via epoch times:
Sunday, March 2, 2014
The International Monetary System has Already Collapsed Three Times Within the Last 100 Years
It’s both a prequel and a sequel to “Currency Wars,” my first book. It’s a prequel in a sense that “Currency Wars” opened with two chapters that describe a financial war game that took place in a top-secret weapons laboratory in 2009.
That was the first time the Pentagon had ever done a war game where the only weapons could be financial instruments—stocks, bonds, derivatives, currencies.
How did I get involved in it? I start out talking about earlier involvement in national security matters and that led up to the war game. That part is the prequel.
The sequel is that in “Currency Wars” I also had a lot of history. There were five chapters of history and I thought that was very important.
If you are going to talk about gold with the reader, a lot of times if you jump right into gold, people think you are sort of a nut. I find if you tell the story through history people can see gold in a context, and when you talk about it, it doesn’t seem quite so strange.
In my new book, “The Death of Money,” there is no reason to repeat the history—that’s all in “Currency Wars”—so it’s more forward leaning, and talks more about the future of the international monetary system, a coming collapse.
And not just a collapse, because a lot of people are running around talking doom and gloom, the end of the dollar and all that. I might even agree with that, but I don’t think it has a lot of content.
What I try to do is provide a more in-depth analysis describing what will come next, what the future international monetary system will look like.
I point out that the international monetary system has already collapsed three times within the last 100 years—1914, 1939, and 1971—and that another collapse would not be at all unusual. But it’s not the end of the world. It’s just that the major powers sit down and reform the system. I talk about what that reformation will look like.
So that’s the sequel or the continuation of the story looking over the horizon. Some stuff that is before “Currency Wars” and some stuff that is after. And other content on the contemporary situation in Europe and China, so I hope people enjoy it.
That was the first time the Pentagon had ever done a war game where the only weapons could be financial instruments—stocks, bonds, derivatives, currencies.
How did I get involved in it? I start out talking about earlier involvement in national security matters and that led up to the war game. That part is the prequel.
The sequel is that in “Currency Wars” I also had a lot of history. There were five chapters of history and I thought that was very important.
If you are going to talk about gold with the reader, a lot of times if you jump right into gold, people think you are sort of a nut. I find if you tell the story through history people can see gold in a context, and when you talk about it, it doesn’t seem quite so strange.
In my new book, “The Death of Money,” there is no reason to repeat the history—that’s all in “Currency Wars”—so it’s more forward leaning, and talks more about the future of the international monetary system, a coming collapse.
And not just a collapse, because a lot of people are running around talking doom and gloom, the end of the dollar and all that. I might even agree with that, but I don’t think it has a lot of content.
What I try to do is provide a more in-depth analysis describing what will come next, what the future international monetary system will look like.
I point out that the international monetary system has already collapsed three times within the last 100 years—1914, 1939, and 1971—and that another collapse would not be at all unusual. But it’s not the end of the world. It’s just that the major powers sit down and reform the system. I talk about what that reformation will look like.
So that’s the sequel or the continuation of the story looking over the horizon. Some stuff that is before “Currency Wars” and some stuff that is after. And other content on the contemporary situation in Europe and China, so I hope people enjoy it.
- Source, Jim Rickards via:
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