• Tag Archives Jim Rickards
  • Rickards Exposes The Elite’s Plan To Freeze The Financial System

    Today’s complacent markets are faced with a number of potentially destabilizing shocks.
    Any one of them could potentially lead to another financial crisis. And the next crisis could see draconian measures by governments that most people are not prepared for today.
    You’ll see what I mean in a moment.

    This post was published at Zero Hedge on Aug 17, 2017.


  • James Rickards Warns “War Is Almost Inevitable”

    All three major stock indexes were deep in the red last week, and volatility spiked for the first time in months as the war clouds gather over the Korean Peninsula.
    Here’s the latest tweet from President Trump:

    This post was published at Zero Hedge on Aug 13, 2017.


  • Incrementum Advisory Board Meeting, Q3 2017

    Global Monetary Architecture
    The quarterly Incrementum Advisory Board meeting was held last week (the full transcript is available for download below). Our regulars Dr. Frank Shostak and Jim Rickards were unable to attend this time, but we were joined by special guest Luke Gromen of research house ‘Forest for the Trees’ (FFTT; readers will find free samples of the FFTT newsletter at the site and in case you want to find the link again later, we have recently added it to our blog roll). Below we add a few remarks on a topic Luke Gromen is paying a great deal of attention to.
    For readers not familiar with FFTT, Luke has a very special ‘big picture’ focus, namely the current global monetary architecture and the ways in which it might change. The US dollar has been the world’s senior currency for many decades, but history suggests that this mantle will eventually be passed on. Accumulation of dollar reserves by foreign central banks has soared since the turn of the millennium, and the most conspicuous increase has taken place in China, which has long surpassed former top reserve holder Japan.

    This post was published at Acting-Man on July 29, 2017.


  • ‘Time To Position In Gold Is Right Now’ says Jim Rickards

    – ‘Time to position in gold is right now’ – James Rickards
    – Fed has hit the ‘pause’ button; No more rate hikes for foreseeable future
    – Fed’s theories ‘bear no relation to reality’ and has ‘blundered by raising rates’
    – Growth is weak, inflation is weak, retail sales and real incomes are weak
    – Tight money, weak economy & stock bubble classic recipe for market crash
    – Reduce allocations to stocks and reallocate to defensive assets such as gold
    – ‘Gold will be the big winner when the Fed suddenly realizes its blunder’
    ***
    James Rickards, geopolitical and monetary analyst and best selling author of ‘Currency Wars’, ‘The Death of Money’ and ‘The New Case for Gold’ wrote yesterday in the Daily Reckoning that the ‘time to position in gold is right now.’
    In an timely piece, Rickards points out how the Federal Reserve is behind the curve, has ‘theories that bear no relation to reality’ and has ‘blundered by raising rates.’ This is happening at a time when the U. S. economy and stock markets are very vulnerable.

    This post was published at Gold Core on July 19, 2017.


  • When It Shows Up in Economic Releases, This Data Will Push Fed to Tighten Fast

    The other day we explored Federal Withholding Tax collections that suggested that the US economy is beginning to overheat. Data on other tax collections in June from the US Daily Treasury Statement also is leaning that way. It takes a month or two for the economic data to catch up with the reality of what is happening in real time.
    The tax collections data has no lag. It tells us what is going on in real time, with no manipulation whatsoever. We merely need to track it to know what’s coming in the lagging economic data reports. That gives us an edge enabling us to stay ahead of the crowd to take advantage of, or protect ourselves from, what’s coming.
    In this case, strong economic data will encourage the Fed to begin its promised course of balance sheet reductions. That will be a real tightening, as opposed to the sham tightening of increasing the interest the Fed pays the bank on the excess reserves at the Fed.
    Jim Rickards refers to this coming balance sheet reduction as Quantitative Tightening. I think that’s an apt monicker. Just as Quantitative Easing, QE, or money printing, pumped money into the markets and drove the asset bubbles that are still raging today (see yesterday’s price data on new home sales), QT will drain money from the markets and starve those bubbles.

    This post was published at Wall Street Examiner on July 10, 2017.


  • A Tale Of Two Gold Markets

    Authored by James Rickards via The Daily Reckoning,
    In the early morning hours of Monday, June 26, gold fell about 1%, from $1,254 per ounce to $1,242 per ounce, in a matter of seconds.
    And that the equivalent of 1.8 million ounces of gold were sold at once. The 1.8 million ounce amount is equivalent to about 59 metric tons of gold. That’s about 2% of the entire gold mining production of the world for a full year. No one sells that amount of physical gold.
    Besides, mining output is almost 100% pre-sold these days, meaning that if you wanted to buy that much gold directly from a mine, you couldn’t do it, because it’s already committed to fulfill existing contracts. Forget about getting gold elsewhere too.

    This post was published at Zero Hedge on Jul 8, 2017.


  • War on Gold, War on Korea, China Collapse and More

    Guest Post from Money Metals Exchange
    Listen to the Podcast Audio: Click Here
    Mike Gleason (Money Metals Exchange): I wanted to ask you about a tweet you sent out earlier this month – and for people who want to follow you there, it’s @JamesGRickards – but in that tweet you wrote:
    Just informed that Scotia Bank branch is now a gold buyer only. Will not sell to retail clients. Get it while you can. War on gold is here.
    Expand on that here, Jim. What did you make of that move and why did you make those comments?
    Jim Rickards: Sure. We have a war on cash. I think that’s pretty well known to the listeners, so we see it everywhere. India just abolished its two most popular forms of cash. They literally woke up one day and they said, I think it was the 2,000 rupee note and the 1,000 rupee note, if I’m not mistaken. I believe those are the right denominations. Not worth a whole lot by our standards, worth like $15 or whatever. But they were, by far the most popular and widely used, widely circulated bank notes in India. And the government just woke up and said they’re all illegal. They’re worthless. Just like that. Now what they said is, ‘Now you can take them down to the bank and you can hand them in, and we’ll give you digital credit in your account – oh by the way, the tax inspector’s going to be there asking you where you got the money.’ So obviously it was designed to flush out people suspected of tax evasion.
    Although, in fact it turned out that there weren’t that many tax cheaters. They were just people who actually preferred money. They preferred cash and they were forced out of the system, forced into this digital system. And there were all kinds of negative repercussions of that. So, there’s a whole country that abolished the most popular forms of cash.
    Sweden is very close to cashless. You go around the United States, you might have some, what we call in Philadelphia ‘walking around money.’ I can look in my wallet and there’s probably some 20s and maybe a couple 50s in there, but when you transact, you get paid digitally. You pay your bills with automatic debits. You transfer money with wire transfers. You use your debit card. You use your credit card, etc. You shop on Amazon, you pay with a debit or credit card, etc. maybe PayPal. And I do that. Everyone does that. I’m no different. I’m not exempt from or outside the system.

    This post was published at Deviant Investor on July 4, 2017.


  • Fake Leadership, Fake News… Even Fake Gold Dealers

    Mike Gleason: I wanted to ask you about a tweet you sent out earlier this month – and for people who want to follow you there, it’s @JamesGRickards – but in that tweet you wrote:
    Just informed that Scotia Bank branch is now a gold buyer only. Will not sell to retail clients. Get it while you can. War on gold is here.
    Expand on that here, Jim. What did you make of that move and why did you make those comments?
    Jim Rickards: Sure. We have a war on cash. I think that’s pretty well known to the listeners, so we see it everywhere. India just abolished its two most popular forms of cash. They literally woke up one day and they said, I think it was the 2,000 rupee note and the 1,000 rupee note, if I’m not mistaken. I believe those are the right denominations. Not worth a whole lot by our standards, worth like $15 or whatever. But they were, by far the most popular and widely used, widely circulated bank notes in India. And the government just woke up and said they’re all illegal. They’re worthless. Just like that. Now what they said is, “Now you can take them down to the bank and you can hand them in, and we’ll give you digital credit in your account – oh by the way, the tax inspector’s going to be there asking you where you got the money.” So obviously it was designed to flush out people suspected of tax evasion.
    Although, in fact it turned out that there weren’t that many tax cheaters. They were just people who actually preferred money. The preferred cash and they were forced out of the system, forced into this digital system. And there were all kinds of negative repercussions of that. So, there’s a whole country that abolished the most popular forms of cash.


    This post was published at GoldSeek on 3 July 2017.


  • 5 Things We’ve Learned Since China Entered the World Money Basket

    Beginning in October of last year, China’s renminbi was added to the International Monetary Fund’s currency basket known as the Special Drawing Rights, or SDR.
    The IMF, founded after Bretton Woods, established the SDR to be its own international reserve asset – what many have identified as world money.
    Prior to Chinese inclusion, the elite currency basket was calculated with the U. S dollar, Euro, Japanese yen and British pound sterling. While China joining the SDR may have been largely status-driven at the time, the yuan and the Chinese economy have become open to heightened concern.
    Significant worries over debt, wasted investments and threats of sweeping deflation left macroeconomists seeing a Chinese financial crisis on the horizon. Financial commentators ranging from hedge fund manager Kyle Bass to economist Jim Rickards highlight that the Chinese economy is on a dangerous course.
    So what does that mean for China and its inclusion with the SDR’s world money basket?
    Here’s five things we’ve learned from the Chinese entrance into world money:
    1. October 2017 is Crucial
    This October, the 19th National Congress of the Communist Party of China will be held. Thousands of lawmakers will gather in Beijing for the Congress. The Chinese Communist Party (CCP) does hold ultimate power, but certain influencers are beginning to rise.

    This post was published at Wall Street Examiner on June 26, 2017.


  • Jim Rickards Exclusive: Dollar May Become ‘Local Currency of the U.S.’ Only

    Mike Gleason: It is my great privilege to be joined now by James Rickards. Mr. Rickards is editor of Strategic Intelligence, a monthly newsletter, and Director of the James Rickards Project, an inquiry into the complex dynamics of geopolitics and global capital. He’s also the author of several bestselling books including The Death of Money, Currency Wars, The New Case for Gold, and now his latest book The Road to Ruin.
    In addition to his achievements as a writer and author, Jim is also a portfolio manager, lawyer and renowned economic commentator having been interviewed by CNBC, the BBC, Bloomberg, Fox News and CNN just to name a few. And we’re also happy to have him back on the Money Metals Podcast.
    Jim, thanks for coming on with us again today. We really appreciate your time. How are you?
    Choose From 10-100oz Pure Silver Trusted Bullion Dealer – Buy Now! silvergoldbull.com Jim Rickards: I’m fine, Mike. Thanks. Great to be with you. Thanks for having me.
    Mike Gleason: Absolutely. Well first off, Jim, last week, the fed increased the fed funds rate by another quarter of a point as most of us expected, but during that meeting, we also heard Janet Yellen say she wants to normalize the Fed’s balance sheet, which means the Fed could be dumping about $50 billion in financial assets into the marketplace each month. Now you’ve been a longtime and outspoken critic of the fed and their policies over the years. So, what are your thoughts here, Jim? Do you believe they will actually follow through on this idea of selling off more than $4 trillion in bonds and other assets on the Fed’s books? And if so, what do you think the market reaction would be including the gold market?
    Jim Rickards: Well, I do think they’re going to follow through. Of course, it’s important to understand the mechanics of the Fed. They’re actually not going to sell any bonds. But they are going to reduce their balance sheet by probably two to two and a half trillion. So just to go through the history and the math and the actual mechanics there, so prior to the financial crisis of 2008, the Fed’s balance sheet was about $800 billion. As a result of QE1, QE2, QE3, and everything else the fed has done in the meantime, they got that balance sheet up to $4.5 trillion. By the way, if the Fed were a hedge fund, they’d be leveraged 115 to one. They look a really bad hedge fund. But that’s how much the Fed is leveraged, they have about 40 billion of equity, versus 4.5 trillion of assets. Mostly U. S. government securities of various kinds. So, they’re leveraged well over 100 to one.

    This post was published at GoldSilverWorlds on June 23, 2017.


  • Why Is the Fed So Desperate to Raise Rates? Jim Rickards Explains (Video)

    The June Federal Reserve rate hike wasn’t a surprise. Most analysts expected Yellen and company to boost rates by 0.25 points. The only thing that was a little surprising was the hawkish tone the central bankers took at the most recent Federal Open Market Committee meeting. The Fed is hinting it will continue to push forward with interest rate normalization and begin to shrink its balance sheet. This raises an important question.
    Why?
    As we have pointed out, the data simply doesn’t support the hawkish stance taken by the Fed. Even some mainstream analysts have made this observation. So what gives? Why is the Federal Reserve so desperate to hike rates?


    This post was published at Schiffgold on JUNE 23, 2017.


  • James Rickards: Gold Will Start Heading Higher On ‘Dwindling’ Supply

    James Rickards via Daily Reckoning
    Gold was down after the Fed’s hike, but I expect it to start heading higher again. Too many powerful forces are driving it behind the scenes. Dwindling physical supply is a major one.
    ***
    On a recent visit to Switzerland, I was informed that secure logistics operators could not build new vaults fast enough and were taking over nuclear-bomb proof mountain bunkers from the Swiss Army to handle the demand for private storage.

    This post was published at Gold Core on June 19, 2017.


  • Is China manipulating the gold market?

    Hedge fund, PhD statistician claims gold market is ‘the most blatant case of manipulation’ PhD: ‘Statistically impossible unless there’s manipulation occurring’ Gold serves as political chips on the world’s financial stage. Price is being suppressed until China gets the gold that they need Gold will go higher when all central banks ‘confront the next global liquidity crisis’ ‘When that happens, physical gold may not be available at all.’ Jim Rickards: The Golden Conspiracy
    Is there gold price manipulation going on? Absolutely. There’s no question about it. That’s not just an opinion.
    There is statistical evidence piling up to make the case, in addition to anecdotal evidence and forensic evidence. The evidence is very clear, in fact.
    These are the opening lines of Jim Rickards’ piece ‘The Golden Conspiracy’, an op-ed that may surprise even the most seasoned followers of gold markets.
    Gold and silver price manipulation is not a new topic to regular readers. For years the idea that precious metals markets are subject to more than just free market forces has been dismissed by the mainstream. Many have referred to gold and silver manipulation as topic fodder for the conspiracy and deep web forums. This is despite evidence to the contrary.

    This post was published at Gold Core on May 31, 2017.


  • The Golden Conspiracy

    Authored by Jim Rickards via The Daily Reckoning blog,
    Is there gold price manipulation going on? Absolutely. There’s no question about it. That’s not just an opinion.
    There is statistical evidence piling up to make the case, in addition to anecdotal evidence and forensic evidence. The evidence is very clear, in fact.
    I’ve spoken to members of Congress. I’ve spoken to people in the intelligence community, in the defense community, very senior people at the IMF. I don’t believe in making strong claims without strong evidence, and the evidence is all there.
    spoke to a PhD statistician who works for one of the biggest hedge funds in the world. I can’t mention the fund’s name but it’s a household name. You’ve probably heard of it. He looked at COMEX (the primary market for gold) opening prices and COMEX closing prices for a 10-year period. He was dumbfounded.
    He said it was is the most blatant case of manipulation he’d ever seen. He said if you went into the aftermarket, bought after the close and sold before the opening every day, you would make risk-free profits.
    He said statistically that’s impossible unless there’s manipulation occurring.

    This post was published at Zero Hedge on May 27, 2017.


  • Jim Rickards: The Golden Conspiracy

    Is there gold price manipulation going on? Absolutely. There’s no question about it. That’s not just an opinion.
    There is statistical evidence piling up to make the case, in addition to anecdotal evidence and forensic evidence. The evidence is very clear, in fact.
    I’ve spoken to members of Congress. I’ve spoken to people in the intelligence community, in the defense community, very senior people at the IMF. I don’t believe in making strong claims without strong evidence, and the evidence is all there.
    I spoke to a PhD statistician who works for one of the biggest hedge funds in the world. I can’t mention the fund’s name but it’s a household name. You’ve probably heard of it. He looked at COMEX (the primary market for gold) opening prices and COMEX closing prices for a 10-year period. He was dumbfounded.
    He said it was is the most blatant case of manipulation he’d ever seen. He said if you went into the aftermarket, bought after the close and sold before the opening every day, you would make risk-free profits. He said statistically that’s impossible unless there’s manipulation occurring.

    This post was published at Daily Reckoning


  • Jim Rickards: Don’t Watch the Circus in D.C., the Real News Is Gold

    Over the last few weeks, the media has fixated on whether or not firing FBI director James Comey and allegations of Russian collusion will turn into Donald Trump’s Watergate. But in a recent column, economic analyst Jim Rickards said that really isn’t the most significant thing that’s happened.
    While everyone is focused on the Washington circus this week, they’re missing what could be the real news – gold.’
    On May 10, the media scarcely noticed when gold launched a decisive turnaround from its most recent dip. But that’s not the big news. We find it in a pattern that’s been establishing itself since the end of last year. As Rickards notes, since mid-December, we’ve seen the price of gold hit higher highs and higher lows.
    Every retreat finds a footing higher than the one before and each new high reaches new, higher ground.’
    Starting with the interim low of $1,128 on Dec. 15, we can see the pattern establishing itself. Since then, gold has hit the following highs before retreating,

    This post was published at Schiffgold on MAY 23, 2017.


  • James Rickards: Gold’s ‘Decisive Turn Around’ – ‘Next Stop Is $1,300 Or Higher’

    James Rickards via Daily Reckoning
    But the most important development this week may be the one you never heard about on the news or the internet.
    On May 10, gold launched a decisive turnaround from its most recent decline.
    This kept intact the pattern I’ve been writing about for weeks of ‘higher highs, and higher lows’ as every retreat finds a footing higher than the one before and each new high reaches new, higher ground.

    This post was published at Gold Core on May 22, 2017.


  • Rickards: Trump Will Not Be Impeached

    Above the initials R. B. we are dealt with as follows:
    ‘You lying scumbags! You won’t get away with it. Real Americans are behind Trump and can see the truth. One day we will find you! Personally!’
    (Perhaps it’s time to move?)
    ‘Go [fornicate] yourself,’ thunders another reader, demanding of us the anatomically impossible – and thumbing a nose at our Presbyterian standard.
    A third consigns our poor soul to a signally abject fate: ‘Go to hell!’
    We reckoned yesterday about the possible impeachment of President Trump.
    We apparently gave some readers the impression we’re down on all fours with it… that we somehow have it in for Mr. Trump.
    Yet we plead innocent on every count. And we go to the gallows under protest.
    We have no heat against Trump.

    This post was published at Wall Street Examiner by Brian Maher ‘ May 18, 2017.


  • Cyber Wars Could Crash Markets and Threat To Humanity – Rickards and Buffett

    Cyber wars are a bigger threat to humanity than nuclear weapons, the world’s richest and most famous investor Warren Buffett, presciently warned a few days ago.
    ‘I do think that’s the number one problem with mankind,’ Warren Buffett warned during Berkshire Hathaway’s annual shareholder meeting on May 6th.
    ‘I’m very pessimistic on weapons of mass destruction generally although I don’t think that nuclear probably is quite as likely as either primarily biological and maybe cyber,’ Buffett said during Berkshire Hathaway’s annual shareholders’ meeting. Unlike most of Buffett’s pronouncements, this clear and very strong warning was not reported widely.
    ‘I don’t know that much about cyber, but I do think that’s the number one problem with mankind’ said Buffett as reported by Business Insider UK.
    Last year, Buffett told CNBC – cyber, nuclear, biological and chemical attacks – posed a major threat to the economic well-being of Berkshire shareholders.
    Echoing Buffett’s cyber concerns, today one of the world’s leading experts on currency wars, financial warfare, cyber terrorism and cyber war, James Rickards has again warned that cyber attacks may have already compromised the U. S. national security and could turn a ‘bad day on Wall Street into a full blown crash’.

    This post was published at Gold Core on May 16, 2017.