Jim Rickards

Jim Rickards: The Biggest Monetary Shock In 52 Years

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– The Biggest Monetary Shock In 52 Years:

I recently revealed that the so-called “BRICS+” countries will announce the creation of a new currency at its annual leaders’ summit conference on August 22–24.

This will be the biggest upheaval in international finance since 1971. It’s taking direct aim at the dollar.

Quite simply, the world is unprepared for this geopolitical shock wave.

It appears likely that the new BRICS+ currency will be linked to a weight of gold. This plays to the strengths of BRICS members Russia and China. These countries are the two largest gold producers in the world, and are ranked sixth and seventh respectively among the 100 nations with gold reserves.

One difficulty in considering the impact of the new BRICS currency on the dollar is that all dollar indexes compare currency to currency. But that’s meaningless since the dollar, euro and sterling could all suffer from a loss of confidence at the same time.

If gold goes from $2,000 to $10,000 per ounce, that is better understood as an 80% devaluation of the dollar: from 0.0005 ounces per dollar to 0.0001 ounces per dollar. That’s a collapse of confidence but you’ll miss it if you’re looking at euros or yen.

Those currencies will all be collapsing at the same time.

The Only Way to Measure the Dollar

The only objective metric for dollar strength is the dollar price of gold by weight since gold is not a central bank currency. This resolves any valuation conundrum as follows:

Read moreJim Rickards: The Biggest Monetary Shock In 52 Years

“Money Is Gold… And Nothing Else”

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– “Money Is Gold… And Nothing Else”:

Authored by James Rickards via The Daily Reckoning,

Following the Panic of 1907, John Pierpont Morgan was called to testify before Congress in 1912 on the subject of Wall Street manipulations and what was then called the “money trust” or banking monopoly of J. P. Morgan & Co.

In the course of his testimony, Morgan made one of the most profound and lasting remarks in the history of finance. In reply to questions from the congressional committee staff attorney, Samuel Untermyer, the following dialogue ensued as recorded in the Congressional Record:

Read more“Money Is Gold… And Nothing Else”

Intelligence Insider Warns Of Imminent War: “Likely In The Next 12 Weeks… The Director Of The CIA Told Me”

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FYI.

– Intelligence Insider Warns Of Imminent War: “Likely In The Next 12 Weeks… The Director Of The CIA Told Me”:

Having worked closely with U.S. intelligence agencies over the last two decades, James Rickards was once asked to simulate asymmetric economic attacks on the U.S. financial system. He is an expert at escalation scenarios and end games, and in a recent article at The Daily Reckoning he warns that the geopolitical situation on the Korean Peninsula will soon come to a head.

According to Rickards, author of The Road To Ruin: The Global Elites Secret Plan For The Next Financial Crisis, while the world concerns itself with stock bubbles, bitcoin and debt, the most imminent threat we face is military confrontation with North Korea.

And while the rogue state has been an ongoing  threat for many years, the first half of 2018 will likely see the trigger that sets the whole powder keg off:

The most important financial or geopolitical issue in the world today is a coming war between the U.S. and North Korea, probably in the next twelve weeks.

How can I be so sure about the timing? The Director of the Central Intelligence Agency told me.

In a private conclave in Washington DC on October 20, 2017, CIA Director Mike Pompeo told a small think tank group (including me) that it would be imprudent to assume it would take North Korea more than ‘five months’ to have a reliable arsenal of nuclear-armed ICBM missiles. These could strike U.S. cities and kill millions of Americans.

Five months from October 20, 2017 is March 20, 2018. That’s an outside date but the war will likely begin before then.

Read moreIntelligence Insider Warns Of Imminent War: “Likely In The Next 12 Weeks… The Director Of The CIA Told Me”

Jim Rickards: “Cracks In The Dollar Are Getting Larger”

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– Cracks In The Dollar Are Getting Larger:

Many readers are familiar with the original petrodollar deal the U.S made with Saudi Arabia.

It was set up by Henry Kissinger and Saudi princes in 1974 to prop up the U.S. dollar. At the time, confidence in the dollar was on shaky ground because President Nixon had ended gold convertibility of dollars in 1971.

Saudi Arabia was receiving dollars for their oil shipments, but they could no longer convert the dollars to gold at a guaranteed price directly with the U.S. Treasury. The Saudis were secretly dumping dollars and buying gold on the London market. This was putting pressure on the bullion banks receiving the dollar.

Confidence in the dollar began to crack. Henry Kissinger and Treasury Secretary William Simon worked out a plan. If the Saudis would price oil in dollars, U.S. banks would hold the dollar deposits for the Saudis.

Read moreJim Rickards: “Cracks In The Dollar Are Getting Larger”

Jim Rickards: The “Golden Solution” To America’s Debt Crisis

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– The Golden Solution To America’s Debt Crisis:

Right now, the United States is officially $20 trillion in debt. Over half of that $20 trillion was added over the past decade.

And it looks like annual deficits will be at the trillion dollar level sooner than later when projected spending is factored in.

Basically, the United States is going broke.

I don’t say that to be hyperbolic. I’m not looking to scare people or attract attention to myself. It’s just an honest assessment, based on the numbers.

Now, a $20 trillion debt would be fine if we had a $50 trillion economy.

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“Dear President Trump: America Is In For A Rude Awakening In January”

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Continue to prepare for the (planned) greatest financial/economic collapse in world history.

– “Dear President Trump: America Is In For A Rude Awakening In January”:

Dear President Trump,

Over the last couple of years I’ve been all over TV… from Fox News to CNBC, CNN and Bloomberg. I’ve been telling our fellow Americans that the financial global elite was planning to issue their own globalist currency called special drawing rights, or SDRs.

And that those elites would use this new currency to replace the U.S. dollar as the global reserve currency.

I’ve even written about this extensively in my best-selling booksThe Road to Ruin and The New Case for Gold.

I’m sure some people in the mainstream media thought I was out of line — but the United Nations and the International Monetary Fund (IMF) have both confirmed this plan to replace the U.S. dollar is real. I’ve made this warning many times, but it seems to be falling on deaf ears. That’s why I’m writing directly to you.

Here’s the proof that the U.S. dollar is under attack, right in front of our eyes:

Read more“Dear President Trump: America Is In For A Rude Awakening In January”

James Rickards: Gold $10,000 to $50,000 per Ounce (Video)

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H/t reader squodgy:

“I think this man is a Fed spokesman, and thus a Rothschild puppet.

He is programming us for the reset with technical bullshit.

He clearly implies the aim of all this uncertainty is to facilitate a modified relaunch of the status quo after default, and the default will not affect the owners, because they don’t lose anything. They never do.”

FYI.

https://www.youtube.com/watch?v=R7enXdJAuHA#t=44

Apr 5, 2016

Description:

Financial Expert James Rickards says, “The Fed wants inflation . . . . They are not getting it, but they have to have it. What does that mean for policy? That means they are not going to give up . . . . They are going to keep trying until they get inflation, and when that happens, you are going to wish you had your gold.”

How much will gold be in the future? Rickards calculates, “$10,000 per ounce with 40% backing . . . if you had 100% backing (of the dollar), that number would be $50,000 per ounce. The implied non-deflationary price of gold, depending on your assumptions, is between $10,000 and $50,000 per ounce. If you are going to have a gold standard and you want to avoid the blunder of the 1920’s, you are going to have gold at least at $10,000 per ounce and possibly much higher. I explain all this in my book.”

Join Greg Hunter as he goes One-on-One with James Rickards, the best-selling author of the brand new book called “The New Case for Gold.”

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CIA Insider Warns: ’25-Year Great Depression Is About To Strike America’

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– CIA Insider Warns: “25-Year Great Depression is About to Strike America” (Money Morning):

You will want to remember this date April 12, 2015.

According to one of the top minds in the U.S. Intelligence Community, that is when the United States will enter the darkest economic period in our nation’s history.

A 25-year Great Depression.

And alarmingly, he and his colleagues believe the evidence they’ve uncovered proves this outcome is impossible to avoid.

In an exclusive interview with Money Morning, Jim Rickards, the CIA’s Financial Threat and Asymmetric Warfare Advisor, has stepped forward to warn the American people that time is running out to prepare for this $100 trillion meltdown.

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Jim Rickards: ‘World In Indefinite Depression’

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Related info:

– Top Financial Experts Say World War 3 Is Coming … Unless We Stop It

– Jim Rickards: ‘It Could Be A Failure To Deliver Physical Gold,’ ‘Physical Gold Is Disappearing, There’s A Mountain of Paper Gold . . . So A Failure to Deliver Could Cause Panic Buying of Gold.’

– Jim Rickards & The Euro Gold Standard: ‘Sorry, You (Banksters) Played, You Lost’ (Video)

– James G. Rickards of Omnis Inc.: Get Your Gold Out Of The Banking System

– ‘World in indefinite depression’ (RT, Sep 19, 2014):

We are in global depression which started in 2007 and is going to continue indefinitely, Jim Rickards, economist and author of “Currency Wars: The Making of the Next Global Crisis,” told RT.

China’s central bank is injecting a combined 500 billion Yuan into the country’s top banks – a move signaling the deep concerns of an economic slowdown in China. A downturn in China`s economy, as investment is scaled back in Chinese real estate, has prompted economists to forecast further financial defaults and slowing economic growth in the second half of the year. Will this monetary easing fix China’s short-term problem and put it back on the path to prosperity in the long-term? Erin from “Boom Bust” asked economist, Jim Rickards, in her show.

Read moreJim Rickards: ‘World In Indefinite Depression’

Top Financial Experts Say World War 3 Is Coming … Unless We Stop It

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Related info:

– The Shocking Reason Putin Isn’t Worried About The $50 Billion Yukos Ruling:

“There is a war coming in Europe,” he said. “Do you really think this matters?”

– Top Financial Experts Say World War 3 Is Coming … Unless We Stop It (Washington’s Blog, July 30, 2014):

Nouriel Roubini, Kyle Bass, Hugo Salinas Price, Charles Nenner, James Dines, Jim Rogers, David Stockman, Marc Faber, Jim Rickards, Paul Craig Roberts, Martin Armstrong, Larry Edelson, Gerald Celente and Others Warn of Wider War

Paul Craig Roberts – former Assistant Secretary of the Treasury under President Reagan, former editor of the Wall Street Journal, listed by Who’s Who in America as one of the 1,000 most influential political thinkers in the world, PhD economist – wrote an article yesterday about the build up of hostilities between the U.S. and Russia titled, simply: “War Is Coming”.  In the article, Roberts notes:

Read moreTop Financial Experts Say World War 3 Is Coming … Unless We Stop It

Jim Rickards: ‘It Could Be A Failure To Deliver Physical Gold,’ ‘Physical Gold Is Disappearing, There’s A Mountain of Paper Gold . . . So A Failure to Deliver Could Cause Panic Buying of Gold.’

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– Jim Rickards: “It Could Be A Failure To Deliver Physical Gold,” “Physical Gold Is Disappearing, There’s A Mountain of Paper Gold. . . . So A Failure to Deliver Could Cause Panic Buying of Gold.” (InvestmentWatch, May 23, 2014):

And what might be the first snowflake to move? 

“It could be a failure to deliver physical gold,” Rickards suggested. “Physical gold is disappearing, there’s a mountain of paper gold. . . . So a failure to deliver could cause panic buying of gold.”

http://www.moneynews.com/StreetTalk/James-Rickards-Dennis-Kneale-Financial-Crisis-Economy/2014/05/20/id/572264/?ns_mail_uid=33506595&ns_mail_job=1570212_05222014&promo_code=crvzhkqc

Currency Wars Are Trade Wars

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– Currency Wars Are Trade Wars (Azizonomics, Feb 16, 2013):

Paul Krugman is all for currency wars, but not trade wars:

First of all, what people think they know about past currency wars isn’t actually true. Everyone uses some combination phrase like “protectionism and competitive devaluation” to describe the supposed vicious circle of the 1930s, but as Barry Eichengreen has pointed out many times, these really don’t go together. If country A and country B engage in a tit-for-tat of tariffs, the end result is restricted trade; if they each try to push their currency down, the end result is at worst to leave everyone back where they started.

And in reality the stuff that’s now being called “currency wars” is almost surely a net plus for the world economy. In the 1930s this was because countries threw off their golden fetters — they left the gold standard and this freed them to pursue expansionary monetary policies. Today that’s not the issue; but what Japan, the US, and the UK are doing is in fact trying to pursue expansionary monetary policy, with currency depreciation as a byproduct.

There is a serious intellectual error here, typical of much of the recent discussion of this issue. A currency war is by definition a low-level form of a trade war because currencies are internationally traded commodities. The intent (and there is much circumstantial evidence to suggest that Japan at least is acting with mercantilist intent, but that is another story for another day) is not relevant — currency depreciation is currency depreciation and still has the same effects on creditors and trade partners, whatever the claimed intent.

Read moreCurrency Wars Are Trade Wars

Currency War ? Trade War ? Hot War

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– Currency Wars Often Lead to Trade Wars … Which In Turn Can Devolve Into Hot Wars (ZeroHedge, Feb 8, 2013):

Currency War ? Trade War ? Hot War?

According to numerous high-level insiders, the global currency war is accelerating:

Read moreCurrency War ? Trade War ? Hot War