Tangent Capital’s Jim Rickards was on CNBC’s Fast Money today, discussing gold in the wake of the recent smash to $1320.
Rickards called the smash a transition from weak hands at the COMEX to strong hands in China and Russia (& physical buyers across the world).
Rickards stated that the trend is up from here, although gold is likely to trade sideways for a majority of the year before climbing in Q4.
Rickards informed the CNBC shills that gold does well in periods of either inflation or deflation, and that The Fed will do everything they can. When they can’t win the battle against deflation, they devalue the currency against gold ’cause gold’s the only thing that can’t fight back.
The Currency Wars author states that If the Fed wins we’ll get inflation and gold will go up. If deflation prevails, we’ll wake up one morning and gold will be (revalued to) $4,000/oz.
Rickards’ MUST WATCH thoughts on gold are below: