Jim Rickards Says Brace Yourself for the New Great Depression; Strong Hands Watching Gold
- Stansberry Research
In a liquidity crisis, everybody sells everything, explains best-selling Currency Wars author Jim Rickards. “But if you’re losing money in stocks, people sell gold to make the margin calls,” he says on why we may see dips in the gold price. “So, gold does go down, but strong hands are watching and they come in and buy.” Rickards is forecasting a major bullish forecast for gold. With prices closer to $15,000 an ounce, the yellow metal is currently trading around $1,900 an ounce. The author also speaks of the coming new great depression, which he says has risks of an increase in urban riots. “Everything that is happening now I forecasted,” says Rickards.