It’s happening very slowly.
The US didn’t do it.
The Democratic Party DID it.
Sorry, this guy has been wrong for all the years I have read his articles.
At least silver is $100 per oz, oh wait it is not, and has been going down since like 1980
Because there was no inflation before the Russian troops rolled across the Ukrainian border on February 24th.
They are called ‘gold nuts’ for a reason.
Millions will suffer financially from the recklessness of Biden and his Democrats, but we will survive.
Gold is money good, and it’s the only form of money the whole world can agree on.”
An interesting observation from Armstrong economics.
Jim Rickards is a failed hedge fund manager turned newsletter writer. I’d like to see his cumulative performance numbers, averaged out by year, both at his fund and his newsletter.
The problem with his thesis is that he posits that the dollar’s reserve currency status is the reason for the size of US economy. In reality, the size of the US economy is the reason for dollar’s reserve currency status. In many ways, the strength of the dollar is a brake on the US’s economic performance.
A strong dollar is great for American consumers. The problem is that it’s also a drag on the performance of American exporters. Everything they sell abroad is more expensive than it could be, to their foreign customers. US exporters are happy to see the dollar’s value fall relative to foreign currencies.
The reason the dollar stays stubbornly strong? Names like Microsoft, Amazon, Google, Boeing, Pfizer, Caterpillar, GE, Bank of America, and so on. Large US corporations at the top of their game that are among the best at what they do globally, peddle their goods and services abroad and receive large sums of foreign currency profits that they repatriate to the US by selling that currency and buying US dollars.
When foreign company products and services replace the American names listed above, that will be the time the US economy starts to stumble. Until then, the caterwauling about reserve currency status is just a carnival barker’s way of peddling his wares to a bunch of people he considers rubes. What I’d like to see is where Rickards’s money is actually invested - the wares he plays up or a mix of index and bond funds. Truth in advertising almost requires it.
““The US Destroyed Trust” Jim Rickards Says “The World Is Turning To Gold””
i know i have ... i take my little sack of gold dust and a digital grain scale with me everywhere i go shopping ... sometimes the stores won’t take my gold so i turn to the more acceptable bitcoin, dogecoin, or ethereum ... cash is so yesterday ...
Been reading this for 20 years. Although I like the metals, one must be ready to see their investment in them underwater or flat for a lot of years. While your money is in the metals, your money is pretty much dead.
Answer me this: In the midst of the financial crisis 2008/9, gold first hit $1800. Nobody could have imagined the massive moves Bernanke pulled to “save the US/world economy”, but the point is, that fully unrestrained money creation saved the day.
From that point until today, money creation has run virtually unabated; yet gold is only up about 5% and 2-3 months ago was only up to the mid 1800’s. Now we are raising interest rates and the USD has been pretty strong; which is bad for gold. But if the raw creation of money allegedly impacts the price of gold (POG) then gold should already be at $5K.
Again, I have read Rickards and Dave Morgan and Mike Maloney and Ted Butler and a dozen more for 20 years. Their arguments make perfect sense. But reality appears to have just as strong ar argument.
Sounds like the evil plan is on the move. As usual, we will sit back and watch while we can.
Putin would like the world to turn to commodity certificates.