“Deflation is a bigger problem than inflation, and everybody hates inflation, but you need inflation…“
Five time. best-selling financial author James Rickards new book titled “The New Great Depression” is predicting rough times for the U.S. economy, but not every asset will be a loser. Rickards says, “In August of 2020, gold hit a new all-time high. Silver is not at an all-time high, but it has performed very well. Actually, if you break down asset classes with silver, gold, stocks, bonds, oil, etc., the number one performing asset class was silver, and the number two was gold. Silver was up about 47%, and gold was up about 25% give or take. Gold and silver outperformed stocks and all of the other asset classes, but they are going to go a lot higher and they have to. . . . Gold is going to $15,000 per ounce, and by the way, that is my forecast. . . . Silver will be three figures (or at least $100 per ounce.) Deflation is a bigger problem than inflation, and everybody hates inflation, but you need inflation . . . . What you have to do is inflate the debt away. The debt is $22 trillion . . . we will devalue the dollar by 50%, and that is what you have to do.”
Rickards says this will be a process that will take almost two decades, and the U.S. will need 4% inflation to do it. This is why Rickards thinks gold and silver will go much higher in the coming years. Rickards also says the central banks are net buyers of gold and will continue to be. He says everybody should have gold and silver in their portfolios and points out he does not sell any precious metals. Rickards also gives advice on surviving “The New Great Depression” in his latest book.
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with five time, best-selling author James Rickards.
All links can be found on USAWatchdog.com: usawatchdog.com/new-great-dep…