More headlines from GATA 2011:
*Jim Rickards: the 4 horsemen of dollar apocalypse: Multiple Reserve currencies, SDRs, Gold or chaos. I’m not predicting which one.
*Jim Rickards: SDR is the Euro on steroids. A locked basket of currencies managed by IMF. fiat money, unbacked. Lagarde already testing….
*Rickards: IMF issued billions of SDRs in 2009. They are testing the system to be behind the next bailout. This is the power elite’s solution
*Rickards: Using global money supply gold price: $16,000 to $44,000 (depending on metric and % backing) if there is a new gold standard
*Rickards: and of course the other possible scenario is chaos. Emergency powers. Martial law. FDR’s gold seizure all over again.
*Rickards: in such a situation the US would confiscate European gold (60% of European gold is in NY).
*Rickards: gold has not been taught for 30 years, almost 2 generations of financial advisers ignorant of gold. you need to educate yourself.
*Eric Sprott: major funds know nothing about gold, silver market. Very difficult to bring institutions into gold and silver.
Sprott: Institutional fund investment in gold is close to 0.75% of funds. If we take away this room, it’s only 0.5%

*Alasdair Macleod: Britain became the most powerful nation on earth after adopting gold standard. Boom-bust cycles are caused by artificial credit.
*Macleod: when the dollar goes down the tubes it will take down all the world’s paper money system.
*Macleod: Hyperinflation is on the way. Fed is mimicking Reichsbank 1922 actions. BoE similarly.
*Macleod: priced in sound money assets and goods will continue to deflate. It is only in fiat money that they are rising.
*Macleod shows chart of GDP deflacted by True Money Supply. In real terms the GDP has contracted by over 12%, which is how it feels.
*Macleod: dollar price of gold is going exponential. visible confirmation of coming hyperinflation.

  1. Sounds about right. Throughout history Precious Metals always takes an account of all the deficit and if that happens this time as it seems it could, it would need to break 15-16K at minimum for that to take place.

  2. Eric Christean says:

    Never happen. The next currency will be no currency. It is a cashless system based on theory and numbers. Everyone on the face of the earth will have an opportunity to accept or reject. Your allegiance will be evident by the accepting a computer chip in your right hand or in your forehead. If we do not accept this system we cannot buy, sell or trade. More or less be a fugitive or outlaw. The time is almost here. Who will be able to stand?

  3. Jeff MacMillin says:

    I haven't read the article…. I'm supposed to be on holidays, sucks that my Gold and Silver are across the country and more and more bad news happens… but….

    I was discussing this last night. We see what is happening, and we know our financial history… some way better than others. The countries have came together before to fix bad debts after the wars and created new valuations and rules. The system is really messed up again, and if the countries come together and try to cover all of the paper and back it by gold?

    It could mean astronomical numbers…. and what better thing to back money with anyways? All the naysayers claim gold is useless and a relic with no real value or usage… so lets return to gold backed money and we'll see how useless it is 🙂

  4. Ashutosh Singh says:

    Either of the 2 will happen: Deflation accompanied by total collapse or Hyperinflation leading to total collapse. Existing system will change no matter what !!!

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