Skip to content
Socio-Economics History Blog

Socio-Economics History Blog

  • About

Socio-Economics History Blog

Socio-Economics History Blog

Jim Rickards: $9,000/oz Gold Could Back World Currency!

March 28, 2014 by mosesman

http://www.amazon.com/The-Death-Money-Collapse-International/dp/1591846706/ref=tmm_hrd_title_0

  • Jim Rickards: $9,000/oz Gold Could Back World Currency! 
    by Eddie van der Walt, http://www.fastmarkets.com/ 
    A post-dollar world may emerge with a global currency that could be backed by gold, Currency Wars author Jim Rickards argues in his latest book.
    –
    A further collapse of the global economy and a resulting demise of the US dollar as the reserve currency could trigger a move to the International Monetary Fund’s (IMF) Special Drawing Rights, which may then be backed by gold at $9,000 per ounce, Rickards says.
    –
    “$9,000 per ounce is a good first approximation of the non-deflationary price of gold in a global gold-backed SDR standard,” Rickards writes in his new book, The Death of Money.
    –
    “In Currency Wars I said it was late but not too late to avoid a collapse of confidence in the dollar. But now I believe that, while the catastrophe is not upon us, we may have passed the point of no return,” he tells The Bullion Desk in an exclusive interview.
    –
    “The biggest problem is that policymakers and the central bankers are using the wrong models – their models do not accord with realities,” he says.
    –
    Three mid-term outcomes could lead to a collapse of confidence – hyperinflation, disinflation or social chaos. “One of these has a 100 percent chance of being right but we don’t know ex-ante which one it is,” he says.
    –
    “The most likely outcome is some sort of catastrophic collapse – the Fed wants [benign] inflation but they are not getting it. They have tried everything – QE1, QE2, QE3, Operation Twist, currency wars, forward guidance and nominal GDP targeting – but none of their measures has had the desired effects,” he adds.
    –
    In a post-dollar world, he sees one of three scenarios playing out – the creation of regional currencies, a fiat SDR or a gold-backed SDR. “There is absolutely a plan to expand the role of the SDR as a global reserve currency – that is not a secret, it is stated on the IMF website,” he says.
    –
    “As far as gold is concerned, we know Russia has increased its gold reserves 70 percent in the last four years, and China has increased its gold reserves several hundred percent. Other central banks have stopped selling – many of them are actively acquiring,” Rickards says
    –
    Central banks were net buyers of gold in most of 2013, with developing nations leading the charge. Central banks added a net 37.3 tonnes of gold to their coffers in December, with those of Russia and Turkey accounting for around 90 percent of that figure.
    –
    “And so we see a trend towards some sort of gold standard or at least to use gold as a hedge against paper liabilities,” he adds.
    –
    “[And] if we look at Crimea, it has a new currency – it is called the rouble. And even if the rouble isn’t ready to fulfil the role of a regional currency yet, if Putin continues to reconstruct the Russian empire, it may be able to fulfil that role in the future.” All three of the scenarios may even play out at the same time, he also says. 

end

Post navigation

Previous Post:

Barack ‘Strangelove’ Obama Plays Nuclear War Video Game With World Leaders!

Next Post:

UN Assembly Adopts Resolution Backing Ukraine’s Territorial Integrity!

3 Commments

  1. HYMN says:
    March 28, 2014 at 8:24 pm

    Please tell me when the fed has to face the music for the manipulation of PMs. Then what ? Do they make good on the average guys losses ? How could it be computed ? We lose what we did not make. They really are despicable, I imagine a shortage of gold and silver. Where there is no REAL price, rather whatever you can get for it. Like a house for a monster box and a weapon and ammo for two monster boxes.

  2. Pingback: Jim Rickards: $9,000/oz Gold Could Back World Currency! | Gold For Life - Gold & Silver Investment Strategies
  3. Pingback: Jim Rickards – $9,000/oz Gold Could Back World Currency! | Buysilver.sg

Comments are closed.

Pages

  • About

Recent Posts

  • BOMBSHELL: Government Is Tracking You Through Vaccines!
  • NATO Boots on the Ground in Ukraine?
  • WARNING: Bank Runs Are Coming & World War 3 w/ Gerald Celente
  • John Coleman || CIA Agent’s 1992 Confession Unearthed: ‘WEF Will Kill 4 Billion by 2030’
  • Escobar: Ukraine War Is Desperate Move By US To Preserve Hegemony, & Prevent Multipolar World
  • Physical Silver & Gold Market Is Taking Control | Peter Grandich
  • At Least 1 Billion Dead or Disabled from CV19 Bioweapon – Dr. Betsy Eads
  • Escalation to World War III And The British Establishment
  • John Mearsheimer | THE US CREATES CONFLICT FOR THE WORLD
  • ‘There Will Be Planes’ – Ukraine Says Western Jets Already a Done Deal
  • Breaking: Vacx-COx_VID Prosecutions To Begin In Switzerland & Possibly Thailand
  • Putin Issues Warning to West at Stalingrad Event || “We Are Once Again Threatened with German Leopard Tanks”
  • Former UK Defense Minister: Send NATO Troops to Ukraine to Fight Russians
  • NATO Issues RED ALERT! What Putin And China Are Doing Will Change EVERYTHING | Redacted News
  • Boris Johnson Bombshell Clip. The Public Believed … Putin!
  • Israel/US Joint Military Exercise Sends Strong Warning to Iran 02/03/2023
  • If Russia Defeats NATO, The World Will ABANDON The Dollar
  • GOLD: The IMF Bombshell & What You Need To Know About It || Gold as International Reserves: A Barbarous Relic No More?
  • WW3 Expands to ME With Israeli Attack on Iranian Factory Supplying Weapons to Russia
  • Indian Refineries Ditch US Dollar to Buy Russian Oil Amid Ukraine Sanctions – Report

Archives

  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011

Categories

  • Disaster
  • Economics
  • Endtimes
  • Geo-Politics
  • History
  • Medicine & Health
  • Satire
  • Science & Technology
  • Social Trends
  • Uncategorized

Meta

  • Log in
  • Entries RSS
  • Comments RSS
  • WordPress.org
March 2014
M T W T F S S
« Feb   Apr »
 12
3456789
10111213141516
17181920212223
24252627282930
31  
© 2023 Socio-Economics History Blog | WordPress Theme by Superbthemes