Currency Wars and $7000 Gold

-Outcomes: Conflict, chaos or a gold standard?
-2008 crisis risks magnified
-Danger: Fed gets more than bargained for

- Source, McAlvany:

http://mcalvanyweeklycommentary.com/

FED Forecasts Consistently Wrong

"Fed’s expectation of tapering is based on their forecast. But, their forecasts have been consistently wrong. Don’t expect growth or tapering."

- James Rickards via his twitter feed:

https://twitter.com/JamesGRickards

Gold Banks Scare Little Guy

"Gold banks scare little guy to sell GLD, redeem for physical, sell physical to Asia at a premium. Nice work if you can get it."

- Via Jim Rickards Twitter Feed:

https://twitter.com/JamesGRickards

The Great Bitcoin Debate

Ribbit Capital's Micky Malka and Tangent Capital Partners Jim Rickards debate the pros and cons of bitcoin from the Bloomberg Link Next Big Thing Summit in Half Moon Bay, CA.

- Source, Bloomberg TV:

http://www.bloomberg.com/video/bear-and-bull-the-great-bitcoin-debate-yOOpf~n4TQqRl~K_I~Tg6A.html

Nouriel Roubini Doesn't Understand Gold

Following some heated Twitter debates w/ Nouriel Roubini, James Rickards, author of "Currency Wars: The Making of the Next Global Crisis" spoke w/ Kitco News' Daniela Cambone to counter Nouriel Roubini's prediction that gold will drop to $1,000 by 2015. Aside from his rebuttal of Roubini's call, Rickards discusses his open Twitter exchanges w/ Roubini which the two have recently become known for, and sheds some light on the nature and origin of their debate. Furthermore, Rickards examines Roubini's six-prong analysis, which is the premise of Roubini's call for $1000 gold and further significant price drops; Rickards explains why he believes market fundamentals may prove otherwise.

- Source, Kitco News:

http://www.kitco.com/news/video/

Economic Shifts, Financial Shocks and Currency Wars

"When one increases the scale of a complex system the risk of collapse rises even faster. This is not speculation, it is sound theoretical science. Unless society takes immediate steps to reduce the scale of today’s complex capital markets by breaking up banks and banning derivatives it faces a catastrophic collapse on a par with the Bronze Age or Ancient Rome.

Unknown to most observers is that the financial dangers of 2008 have not gone away, in fact, the situation is worse. The biggest banks are even bigger with a larger share of total bank assets. The taxpayers bailed out the system in 2008 and got nothing in return except the prospect of having to do it again. If the system is riskier and more dangerous than it was in 2008, where will the next collapse begin? What domino will cause the other dominoes to fall? A survey of the big three currency areas – Europe, China and the United States – provides a foundation for understanding why real risks remain and a new catastrophe is looming."

- James Rickards via IISS confernce, read the full presentation here:

http://www.iiss.org/en/events/events-s-calendar/james-rickards-7a6e

1 Pound .999 Copper Bullion Bar: (Long Style) @ Great Price

I May Never See Another Rate Hike

“Bernanke’s not a trader, so he doesn't think like a trader, he has no exit plan. There’s a good possibility I may never see another rate hike in my lifetime”

- Jim Rickards, author of Currency Wars.

Pre-1964 US Junk Silver $10 Face Value

We Are in a Depression

“We don’t have to worry about a recession — we are in a depression,” says James Rickards.

“If you take the classic definition of a sustained, long-term downturn with economic growth below trend, then we are in the midst of a depression,” says the senior managing director of Tangent Capital and author of “Currency Wars.”

- Source, NYPost:

http://www.nypost.com/p/news/business/fed_up_with_ben_vzuSPEjRIZYd96jbfwa8aJ

The Wealth of Millions Could Be Decimated

James Rickards, a top adviser for the Pentagon and CIA, is sounding the alarm that America is on the brink of a global “financial war.”

“Rival nations and terrorist organizations are developing capabilities in unconventional warfare,” Rickards commented in a Newsmax interview. “Things like cyber warfare, biological or chemical warfare, and now, financial weapons of mass destruction.”

And this “financial war” is a battle America isn't prepared to win.

Rickards believes that as this conflict escalates, it will “cause oil to sky rocket above $190 a barrel, gold to surge to $3,000 an ounce, and, in its aftermath, it could completely decimate the wealth of millions.”

- Source, MoneyNews.com:

http://www.moneynews.com/MKTNews/Currency-Wars-James-Rickards/2013/01/25/id/473012

Forty Six Million Americans Survive on Food Stamps

"The Fed has released details grudgingly and some disclosures were forced by the Dodd-Frank legislation. Gradually the bailouts have been revealed as if a veil were slowly being drawn to display a densely formed mosaic. The bailouts have enriched stockholders, bondholders and CEO’s while unemployment remains at depression levels and forty-six million Americans survive on food stamps."

- Jim Rickards

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The Yen Has Lost 40% of It's Value

“Each country is degrading its currency in the hopes of spurring growth,” Rickards says. “Look at Japan. The yen has lost 40 percent of its value against the dollar in a very short period of time.”

- Source, NyPost:

http://www.nypost.com/p/news/business/fed_up_with_ben_vzuSPEjRIZYd96jbfwa8aJ

The FED's Goals

"The Fed’s goals are to maintain nominal interest rates in the range of zero to 2% while seeking inflation in the range of 4%. The result will be negative real rates that encourage borrowing and an inflation scare that stimulates spending. The combination of lending and spending should increase velocity which, when combined with the already ample money supply, should expand nominal GDP in such a way as to ease the real burden of government debt and reduce the government debt-to-GDP ratio. This policy of slow, gradual inflation and negative real interest rates pursued over a ten to fifteen year period is considered an effective way to erase the burden of government debt without hyperinflation or default."

- Excerpt from Jim Rickards submitted testimony as a witness in the Senate Banking Committee’s Subcommittee

Long-Term Food Supply - WiseFoodStorage.com