James Rickards Interview

[Serpo]

James Rickards Interview on Why Central Banks are Obsessed with Gold & Why QE3 is Imminent






http://www.youtube.com/watch?v=Tl9axPXtN5E&feature=player_embedded

http://www.youtube.com/watch?v=Tl9axPXtN5E&feature=player_embedded
http://www.youtube.com/watch?v=IsLEFEiP7RU&feature=player_embedded

http://www.youtube.com/watch?v=IsLEFEiP7RU&feature=player_embedded

[beefsteak]

NICE FIND, Serpo! Thanks. He's more believeable than wily JES but several exponents.


beefsteak

[gunDriller]

Rickards is one of my favorite interview subjects.

he has the experience of a "Deep Insider" - helped negotiate the release of the US hostages held by Iran, meaning that he had inside knowledge of the pre-release negotiations known as "October Surprise". (1979-1980)

Rickards also helped negotiate the bail-out of LTCM in 1998. they had a naked short gold position of about 400 tons.

my guess is, he started his career with the CIA. you don't get those kind of work opportunities from the Classified section of the newspaper.


then he turns around and describes with great honesty and common sense the current state of US economy & finances.

most guys with Rickards' experience are like Jeff Christian, "See No Evil Hear No Evil".

that makes Rickards a rare combination, an "honest insider". usually that is an oxymoron, but not in his case.

[beefsteak]

Well, I just listened to both those, and found them lacking. Either Rickards is the king of waffle-speak in this one or else the interviewer was too much a neophyte to really utilize the 30min window he had with him.

No one is as dumb as that interviewer. My 5 year old great-grandson would have done better.

The male interviewer's hero worship was palpable, and his pandering to the "I bought several and think it's terrif..." when setting up the softball book promo quid pro quo...that was pathetic. Rickards was iterating and had just finished with a flourish, touting all the languages his Currency Wars book was being translated into currently, and this hick from Kokomo was blathering about a copy for his FIL. Geeze.

Rickards MUST have circled the lobs and X'd out the meatier Q's in the pre-interview question submission routine that passes for "journalism" in 2012.

I've heard more interesting interviews of red, cubed Jello, frankly.

blech.


beefsteak

[mamboni]

Rickards is a pressure relief valve for the coming collapse. He will never come out and tell you the unvarnished cold hard truth:

1. There will not be an ordinary transfer of reserve status from the dollar to the yuan: it will be jarring and painful for America.

2. This 10% or 20% gold investment advice for diversification is old hat and milchtoast conventional thinking. I lost thousands of dollars dragging my feet by not being 100% gold [and silver] in 2005. Now I am 100%. We are headed for a dollar collapse, a currency collapse and a reset. The only assets that have a historic track record for coming through these once in a century or once in a millenium types of economic watersheds are physical gold and silver. Everything else is highly volatile, subject to numerous variables and impossible to predict, including equites, land and commodities (except monetary metals gold and silver).

3. The FED never stopped monetizing and is presently buying 80% of Treasury debt issuance. Rickards doesn't acknowledge this, ever. This is the tell: he is a limited hangout information dispenser. I would wager that in private conversations with his monied clients that is far more aggressive about investing in gold.

4. Rickards keeps talking up the mythical 8,000 tons of US gold bullion. It reminds me of Obama's birth certificate: everyone in the MSM insists it exists but no has seen it or can show it to us. You'd be best served assuming as such about US gold: it's long gone, leased out over the last 25 years to prop up the US dollar. If Fort Knox has any gold, it's paper receipts for leased gold bullion. Legally, they can list that on the books as gold. In reality that gold is never coming back, and certainly not at today's absurdly suppressed prices. Given the crumbling confidence in the dollar on world markets, and the desperate measures taken by the US to protect the dollar (i.e. invasions of Iraq, Libya, and now economic war waged on Iran), you can be sure that of we had the 8,000 tons, the US would be showing it to us in vivid and captivating detail.

The only guys who are going to tell you the undiluted truth about the economic hard times coming and how to prepare are outsiders like Bob Chapman, Jim Willie, Richard Daughty and Jim Sinclair, to name a few. Gold, silver and the mining shares are where you want to be, 100%.

[gunDriller]

Rickards is a pressure relief valve for the coming collapse. He will never come out and tell you the unvarnished cold hard truth:

true. "Limited hang-out" - i think is the term.

but Rickards is good at explaining stuff, sometimes. e.g. "SDR's" - the IMF's new one-world currency. that was from an interview about a year back.


in one interview, Rickards changed into this wierd "Iran Scary Muslims" mode.

[beefsteak]

Gunny,
as I recall, Sinclair discussed the SDRs, and put them out to pasture as anything meaningful...or maybe it was ZeroHedge. LOL


beefsteak

[gunDriller]

Gunny,
as I recall, Sinclair discussed the SDRs, and put them out to pasture as anything meaningful...or maybe it was ZeroHedge. LOL

beefsteak

there was one interview on King World News where

found this on Rense. not my favorite media source, but hopefully he is quoting Sinclair verbatim.

http://www.rense.com/general89/sinc.htm

"Dear Comrades In Golden Arms,

1. Bretton Woods was folded.

2. The floating exchange rate system is about to be folded.

3. By default or design we are going to a one-world currency and a one-world central bank of central banks.

4. For Portugal, Ireland, Italy, Greece or Spain to break off from the euro would be an expansion of the floating exchange rate system under present conditions.

5. There are presently 3 major currencies. That is the US dollar, the euro and gold.

6. The SDR was an attempt to form a single reserve currency that never took flight.

7. The SDR is an accounting unit made up of an index of currencies much like the USDX."


it would be interesting to hear Sinclair & Rickards do a roundtable on world currencies on KWN or Financial Sense of Chris Martenson or somewhere.

it's often odd to hear people talk about world reserve currencies when they don't mention gold or talk it down. since neither Sinclair nor Richards are anti-gold they could probably shed some light on "how it would work". for example, what it would take to make the US accept such a move.

since China is stockpiling gold faster than the US, i would think there might be a comparative advantage (for the US) in doing the move sooner rather than later. between domestic production & importing, i think China is adding about 800 tons per year to their reserves. the longer this goes on, the more negotiating power China has in promoting a gold backed world reserve currency - e.g. the Yuan/ Remnimbi.