gold standardIn this MUST WATCH Interview, Jim Rickards talks to German investigative journalist Last Schall, and discusses the failure of the Fed, as well as the Fed’s suppression of goldRickards explains to Schall why gold must rise to at least $7,000 – $10,000.
He also discusses China’s gold purchases and that the people with the most gold will have the most say in regard to a new monetary system.

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  1. On some level it makes sense,but the reality is, no one can even be sure how much gold is out there physically. When we find out that a good portion of central bank gold exists as IOUs and we get past that is double triple or whatever counted in unallocated accounts then we may get an idea.
    Rickards has been giving an eerily similar interview for the last few years and this in many ways is no different. On point, but throw it in the pile with the other bullish news. The fact that he is an insider always makes me wonder.

    • Yes, insiders would only use fake stats/numbers and therefor, they can’t be taken without a grain of salt. I do agree with the pie in the sky numbers on gold and silver though, since gold WILL be behind the true currencies of the world going forward. It will need to be valued appropriately to suffice as a backing vehicle.

    • Fair enough, he was an ex-CIA consultant. But before we dump his analysis in the junk pile with all the others, let’s consider one salient point. If the federal reserve is telling us the gods honest truth, and QE is hereby only 75B a month, that would be 900B USD a year. One years supply of gold is currently priced at 9.3B USD. Do you see an imbalance?  Or still convinced it will go down to $1000? I didn’t mention the other currencies depreciation.

    • If you have an account with someone else holding your metals you have exactly zero, nada, zip, nothing because it has all been sold to the chinese.

    • @MaryB
      Even if it has not already been stolen, it WILL be when the SHTF and those holding that gold make their exits from the scene WITH ALL OF THE GOLD that they are supposedly keeping “safe”.

    • @SilverSlicker
      Is it not interesting that annual inflation in the US has averaged 3.2% since 1914 and that, according to the Fed, it is now 1.4%?  Considering that the US Gov’s spending is out of control, debt is MASSIVE, and national production is falling, one would tend to think that the actual rate of inflation in the US today would be ABOVE average and not less than half of the average.  Well, guess what?  IT IS!  ShadowStats shows US annual inflation at about 9% right now… and they do not use all of the cute manipulations to ratchet it down like the Fed does; they simply use the US Gov’s own method for this circa 1980.  If it was true then, and it certainly seemed to be, then why would it not be true today?  Oh, yeah… it was considered obvious that people need to buy FOOD and ENERGY back then.  Today, we are all air-plants that do not need anything like food or energy or even water… and if we did, they would find a much cheaper substitute that shows low inflation!  :-/

  2. At roughly a $100,000,000,000 market for annual gold production, that’s somewhere between diddly and squat when compared to our QE of $1 trillion, Japan’s QE of $1 trillion, EUrozone’s $1 trillion QE or China’s increase in M1 of $1 trillion, unless it was $3 trillion.  But who’s counting?  No one seems to care about gold when the party is at the Fed’s house.
    No wonder most of the world could give a rat’s derriere about gold, except for those gold bugs and people who know it’s value when compered to FIAT.  But when gold barks everyone listens.  Interesting.

    • Great video, very astute presentation. I found it funny that right after pointing out how important it is to hold the physical gold without a counter party risk, he tells you how you can store it in their bank vaults around the globe. What am I missing here. What’s wrong with this picture? One cannot be their own bank when one has to ask someone else 10,000 miles away for some of it, especially if the crap has just hit the fan….
      “Hello and thank you for calling the Swiss Gold Depository…..I am sorry but all of our operators are assisting other customers and we will answer your call in the order it was placed. Please note that if you are calling to access some or all of your precious metals, you are in “Poo Pond” without a paddle……………otherwise, please hold the line for the next available operator…we appreciate your patience”.

  3. ooops My mistake  
    Official Venevuela to foreign currency exchange rate is 11.36 to one.  Unofficial rate is 79 to 1. I was off by 500% 
    My bad. 
    Things are rosy in Venezuela— if you live in Chile

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