Jim Rickards

Re: Jim Rickards

Postby winston » Wed Apr 06, 2016 5:54 am

Why it’s still important to own physical gold

“There is a lot of social science research that says monkeys do better than economists at predicting because monkeys don’t know what they’re doing; they are 50% right, economists herd and are wrong most of the time.


The Fed has never predicted a recession, we’ve had many


Source: Fox Business News

http://thecrux.com/jim-rickards-on-fox- ... insurance/
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Re: Jim Rickards

Postby winston » Thu Apr 07, 2016 7:23 pm

Gold is the pile of poker chips in the next global crisis

China and Russia are preparing for the next crisis by buying up gold, says author James Rickards

The most interesting case is China. The official gold reserves of China are reported as of July 2015 at 1,658 tons. Yet we know from various reliable sources including mining production and import statistics that their actual gold stock is closer to 4,000 tons.


There are only about 35,000 tons of official gold in the world


This means that China’s acquisition of over 3,000 tons of gold in the past seven years represents approximately 10% of all the official gold in the world; a huge shift in gold reserves in favor of China.


Source: Market Watch

http://www.marketwatch.com/story/gold-i ... eid=yhoof2
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Re: Jim Rickards

Postby winston » Fri Apr 08, 2016 6:12 am

Jim Rickards on $10,000 gold: 'It's coming...'

by Adam Taggart

Source: Peak Prosperity

http://thecrux.com/jim-rickards-is-ther ... bsolutely/
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Re: Jim Rickards

Postby winston » Tue Apr 12, 2016 7:14 am

Japan and the secret ‘Shanghai Accord’

by Jim Rickards

Japan has been suffering an economic depression for almost 30 years, with technical recessions and periodic deflation along the way. Fundamentals are poor, with a debt-to-GDP ratio over 200% and an aging and declining population.

The Japanese government bond market is well into negative interest rate territory. Negative rates appear to be having the opposite effect of what policymakers intended, slowing the economy even more.

In plain English, Japan is a mess.


Based on the Shanghai Accord and the dynamics of currency cross-rates, we expect the strong yen trend to continue for several years. That’s bad news for major Japanese corporations.


Source: Currency Wars Alert

http://thecrux.com/jim-rickards-japan-a ... ai-accord/
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Re: Jim Rickards

Postby winston » Thu Apr 21, 2016 7:44 am

‘A scramble for gold has begun’

by Jim Rickards

The US holds 8,133 tons of gold.

The members of the eurozone and ECB hold 10,788 tons.

China reports holdings of 1,788 tons, but actual holdings are closer to 4,000 tons, based on reliable data from Hong Kong exports and Chinese mining.

Russia has 1,447 tons, and has been acquiring over 200 tons per year.

Mexico, Kazakhstan, and Vietnam, among other nations, have added to their gold reserves recently. (Pity the UK, which sold more than half its gold at rock-bottom prices between 1999 and 2002.)

After decades as net sellers of gold, central banks became net buyers in 2010.


Source: Currency Wars Alert

http://thecrux.com/jim-rickards-a-scram ... has-begun/
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Re: Jim Rickards

Postby winston » Tue May 03, 2016 8:14 am

These 3 upcoming events could rock global markets…

by Jim Rickards

“Shanghai Accord,” a secret plan agreed among central bankers at the G-20 meeting in Shanghai, China, on Feb. 26. One of the main objectives of the Shanghai Accord is a strong Japanese yen.


Source: Currency Wars Alert

http://thecrux.com/jim-rickards-prepare ... arthquake/
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Re: Jim Rickards

Postby winston » Thu May 19, 2016 6:39 am

'Helicopter money is coming'... and that's good for gold

by Jim Rickards

It’s a zero-sum game. All of the reserve currencies in the world add up to 100% of the reserve currencies. If new currencies have a larger share, then the U.S. dollar must have a smaller share.


When Congress wants to spend a lot more money, it produces larger budget deficits. And the Treasury has to cover that deficit by issuing more bonds. The Federal Reserve buys the bonds. And it prints money to buy the bonds. The answer still comes back to money printing.


Source: Currency Wars Alert

http://thecrux.com/jim-rickards-helicop ... n-decided/
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Re: Jim Rickards

Postby winston » Fri Aug 05, 2016 9:21 am

The War on Cash is still being planned in the background

by Jim Rickards

The war on cash has two main thrusts.

The first is to make it difficult to obtain cash in the first place. U.S. banks will report anyone taking more than $3,000 in cash as engaging in a “suspicious activity” using Treasury Form SAR (Suspicious Activity Report).

The second thrust is to eliminate large-denomination banknotes. The U.S. got rid of its $500 note in 1969, and the $100 note has lost 85% of its purchasing power since then. With a little more inflation, the $100 bill will be reduced to chump change.


This May, the European Central Bank announced that they were discontinuing the production of new 500 euro notes (worth about $575 at current exchange rates). Existing 500 euro notes will still be legal tender, but new ones will not be produced.


Source: Rickards’ Gold Speculator

http://thecrux.com/jim-rickards-how-gov ... kill-cash/
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Re: Jim Rickards

Postby winston » Wed Sep 21, 2016 10:21 am

It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Jim Rickards

Postby winston » Tue Nov 08, 2016 8:03 pm

Next Crisis Will Be Worse Than Last One

Central banks won't come to the rescue, emergency plan may involve shutting down banks and exchanges

By Valentin Schmid

The central banks are tapped out. The Fed is leveraged 113 to 1.


The only clean balance sheet left, the only entity that can pull money out of thin air, is the International Monetary Fund (IMF). It’s the central bank of the world.

They can print the world money, the Special Drawing Rights (SDR) currency, to re-liquefy the system.

It will take the IMF some period of time—I would estimate a minimum of three to six months—to issue the SDRs and to get the money out there.


There is not a central bank in the world that wants the gold standard, but they may have no choice. They may have to go to a gold standard to restore confidence.

The other scenario is that somehow this SDR plan works and you get inflation. Then the gold price will go up because of the inflation.


Source: Epoch Times

http://www.theepochtimes.com/n3/2182406 ... -last-one/
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