Thursday, July 14, 2016

The Gold Chronicles with Jim Rickards

Interview Talking Points:

*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 the 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

Monday, July 11, 2016

Jim Rickards Reveals Alarming Evidence of Gold Supply Tightness Chinese Hoarding

Jim Rickards, author of the book The New Case for Gold reports on some alarming evidence of a gold supply shortage developing across the world and the increasingly dangerous folly of central bankers.

- Source

Saturday, July 2, 2016

Jim Rickards - 2018 SDR World Currency Backed with Gold

Leading the way, says Rickards, will be the International Monetary Fund. “The task of re-liquefying the world will fall to the IMF because the IMF will have the only clean balance sheet left among official institutions. The IMF will rise to the occasion with a towering issuance of SDRs, and this monetary operation will effectively end the dollar’s role as the leading reserve currency.”
Ah… the SDR. That’s shorthand for “special drawing rights.”

The name is cryptic. The mechanism will prove far more inscrutable than the Fed’s alphabet-soup bailout programs in 2008. But the objective will be the same… to print money in the interest of keeping a rotten system functioning.

Boiled down to its essence, the SDR is a kind of super money printed by the IMF and then circulated among central banks and governments. Indeed, the IMF has issued SDRs three times since their creation more than 40 years ago. Each time was linked to a crisis of confidence in the U.S. dollar