• Tag Archives Jim Rickards
  • China Catalyst To Send Gold Over $10,000 Per Ounce?

    Jim Rickards is on record forecasting $10,000 gold.
    But is China about to provide the catalyst to send gold even higher? And by how much?
    Today, we fare forth in the spirit of speculation… follow facts down strange roads… and arrive at a destination stranger still…
    China – the world’s largest oil importer – struck lightning through international markets recently.
    According to the Nikkei Asian Review, China has plans to buy imported oil with yuan instead of dollars.
    Exporters could then exchange that yuan for gold on the Shanghai Gold Exchange.
    Not only would the plan bypass the dollar entirely… it would restore gold’s role in international commerce for the first time since 1971, when Nixon hammered the last nail through Bretton Woods.

    This post was published at Gold Core on September 30, 2017.


  • Jim Rickards Warns “QT1 Will Lead To QE4”

    There are only three members of the Board of Governors who matter: Janet Yellen, Stan Fischer and Lael Brainard. There is only one Regional Reserve Bank President who matters: Bill Dudley of New York. Yellen, Fischer, Brainard and Dudley are the ‘Big Four.’
    They are the only ones worth listening to. They call the shots. The don’t like dots. Everything else is noise.
    ***
    Here’s the model the Big Four actually use:
    1. Raise rates 0.25% every March, June, September and December until rates reach 3.0% in late 2019.
    2. Take a ‘pause’ on rate hikes if one of three pause factors apply: disorderly asset price declines, jobs growth below 75,000 per month, or persistent disinflation.
    3. Put balance sheet normalization on auto-pilot and let it run ‘on background.’ Don’t use it as a policy tool.

    This post was published at Zero Hedge on Sep 21, 2017.


  • Trump Can Mold Federal Reserve in His Image

    President Donald Trump will have the opportunity to mold the Federal Reserve in his own image. But what that will look like remains to be seen.
    As Jim Rickards points out, Trump will appoint a higher percentage of the Fed’s board of governors than any president since Woodrow Wilson chose the original board.
    Seven members make up the Federal Reserve’s board of governors. Of course, regional reserve bank presidents also have some influence. But you find the real decision making power on the board. As of last week, four of the seven Fed board seats are vacant.
    Consider the power this gives the president. Four seats makes up a voting majority.
    Trump will own the Fed. Meaning, whatever the president wants monetary policy to be, he’ll get. In other words, Donald Trump will be able to shape the Fed’s majority. But the tricky part is figuring out how he plans to shape it.’

    This post was published at Schiffgold on SEPTEMBER 13, 2017.


  • Rickards: “There Are Three Things Going On With Gold Right Now”

    Jim Rickards joined Kitco News and Daniela Cambone to discuss the latest news and analysis from gold markets, geopolitics and even bitcoin. The Wall Street veteran took on the bigger picture facing metals investors and what could be just around the corner in a bubbling market.
    ***
    Jim Rickards is the editor of Strategic Intelligence and is the New York Times best-selling author of The Road to Ruin. Rickards’ worked on Wall Street for decades and has advised the U. S intelligence community on international finance, trade and financial warfare.

    This post was published at Zero Hedge on Sep 1, 2017.


  • Gold Reset To $10,000/oz Coming ‘By January 1, 2018’ – Rickards

    – Trump could be planning a radical ‘reboot’ of the U. S. dollar
    – Currency reboot will see leading nations devalue their currencies against gold
    – New gold price would be nearly 8 times higher at $10,000/oz
    – Price based on mass exit of foreign governments and investors from the US Dollar
    – US total debt now over $80 Trillion – $20T national debt and $60T consumer debt
    – Monetary reboot or currency devaluation seen frequently – even modern history
    – Buy gold eagles, silver eagles including monster boxes and gold bars
    – Have a 10% allocation to gold, smaller allocation to silver
    Editor: Mark O’Byrne
    A new monetary standard which will see the dollar ‘reboot’ and gold be revalued to $10,000/oz according to best-selling author and Pentagon insider Jim Rickards.
    A monetary ‘reboot’ is not unprecedented Articles about an imminent return to the gold standard are not exactly infrequent in the gold world and it can be easy to become immune to them and dismiss them without considering the facts and case being made.

    This post was published at Gold Core on August 30, 2017.


  • Weird Things Are Happening With Gold

    Authored by James Rickards via Daily Reckoning blog,
    Last week featured two unusual stories on gold – one strange and the other truly weird. These stories explain why gold is not just money but is the most politicized form of money.
    They show that while politicians publicly disparage gold, they quietly pay close attention to it.
    The first strange gold story involves Germany…
    The Deutsche Bundesbank, the central bank of Germany, announced that it had completed the repatriation of gold to Frankfurt from foreign vaults.
    The German story is the completion of a process that began in 2013. That’s when the Deutsche Bundesbank first requested a return of some of the German gold from vaults in Paris, in London and at the Federal Reserve Bank of New York.

    This post was published at Zero Hedge on Aug 30, 2017.


  • Four Factors that Could Help Sustain a Gold Bull Run

    Gold has entered a bull market.
    This according to an article in CityA. M., a London business daily.
    The authors cite four factors that could help support a sustained gold bull run.
    Global Interest Rates Will Stay Low
    Despite talk of monetary tightening in the US, interest rates worldwide remain low, and in many cases negative. Worldwide, economic growth remains relatively sluggish. Inflation is not hitting the central bankers’ target. In fact, Jim Rickards recently argued that the Fed won’t even continue with its interest rate normalization.
    The Fed will not hike rates again this year. Once the market wakes up to the reality of a prolonged ‘pause’ by the Fed, they will conclude correctly that the Fed is once again attempting to ease by ‘forward guidance.’ This relative ease will keep the dollar on its downward trend and be a boost to the dollar price of gold. The Fed will not hike rates regardless of the strong jobs report. The reason is that strong job growth was ‘mission accomplished’ for the Fed over a year ago. Jobs are not the determining factor in Fed rate decisions today. The determining factor is disinflation.’

    This post was published at Schiffgold on AUGUST 25, 2017.


  • Jim Rickards: Nobody Talks About It, But Our Whole System Is Based on Gold

    Earlier this week, US Treasury Secretary Steven Mnuchin paid a rare official visit to Fort Knox to check out the nation’s gold stash. He made headlines when he quipped about the possibility of the gold not being there. Later, the secretary assured the world the US gold is safe and sound.
    But why exactly does the US hold more than 8,000 tons of gold?
    As we’ve explained, gold is money and there is economic power in owning gold. But nuts and bolts reasons also exist that help explain why the US holds so much gold, and most people aren’t aware of them. Jim Rickards did a good job of explaining it in a recent article on the Daily Reckoning. He argues that the whole American system is still based on gold.
    So who actually owns America’s gold?
    That question is a little more complicated than you might think.
    Physically, the US Treasury owns the gold. But the Federal Reserve also has a claim on it. And at the end of the day, the US military controls it.

    This post was published at Schiffgold on AUGUST 24, 2017.


  • Where Is The United States’ Gold?

    A concocted public relations scheme – an event which resembled the annual Punxsutawney ground-hog viewing tradition – in which the Treasury Secretary emerges from Ft Knox and proclaims, ‘the gold is safe’ does not provide any evidence whatsoever.
    On cue, Jim Rickards followed up with a half-baked apology for the unwillingness of the U. S. Government to force a bona fide audit of the public’s gold being ‘safekept’ in the Fed’s custody.
    Bill ‘Midas’ Murphy asked my opinion on Rickard’s white washing of the topic:
    This is why I don’t read Rickards. I don’t know his deal is anymore. He was a front for the Pentagon’s goal to circulate the idea of the SDR replacing the dollar as the reserve currency. This is because they know the dollar is toast but the dollar is still the larges percentage share of the SDR so it still gives the U. S. control over the world’s reserve currency if it were to be the SDR.
    Now Rickards has pimped himself out to Agora, which really devalued Agora in my opinion. And he’s ripping off the public with his gold letter subscription. Total scam. I’ve had subscribers to my Mining Stock Journal tell me his subscription service is a farce.

    This post was published at Investment Research Dynamics on August 24, 2017.


  • Cyberwar Risk – Was U.S. Navy Victim Of Hacking?

    – U. S. Navy collisions: More than a coincidence?
    – Latest U. S. Navy collision is fourth involving a Seventh Fleet warship this year
    – Have US Navy vessels become victims of hacking asks Rickards
    – Chief of Naval Operations, Adm. John Richardson, has not ruled out cyber intrusion
    – ‘Once is happenstance. Twice is coincidence. The third time it’s enemy action…’ – Ian Fleming
    – Cyber security cause for concern in autonomous vehicles, aeroplanes and now ships
    – Serves as reminder that a connected world can expose and create vulnerabilities
    – Cyber security a major threat to banking and financial industry
    – Investors should hold physical gold as insurance against hacking, cyber attacks
    ***
    The tragic U. S. Navy incident of the USS John McCain earlier in the week has raised several questions about the cause. Many are wondering if it was more than human error given this is not an isolated incident.

    This post was published at Gold Core on August 24, 2017.


  • 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.


  • 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.