Gold - 10k/oz target

soirish

Jim Rickards, the editor of Strategic Intelligence and the author of Currency Wars breaks down his $10,000/oz price target for gold, saying that some central banks may have to resort to the gold standard to restore confidence in the markets. Rickards says that $10,000 is the perfect pricing in order to to avoid a disaster scenario.

dxhound2005

I never heard of Jim Rickards so I looked him up on the internet. His bibliography suggests that he is a bit of a doom and gloom merchant.

Currency Wars: The Making of the Next Global Crisis, published in 2011, The Death of Money: The Coming Collapse of the International Monetary System, published in 2014, The New Case for Gold, published in 2016, and The Road to Ruin: The Global Elites' Secret Plan for the Next Financial Crisis,

Owryan

dxhound2005 wrote: »

I never heard of Jim Rickards so I looked him up on the internet. His bibliography suggests that he is a bit of a doom and gloom merchant.

Currency Wars: The Making of the Next Global Crisis, published in 2011, The Death of Money: The Coming Collapse of the International Monetary System, published in 2014, The New Case for Gold, published in 2016, and The Road to Ruin: The Global Elites' Secret Plan for the Next Financial Crisis,

So that's who "realitykeeper" has been reading :D

soirish

The lad is a financial advisor for the CIA with 35 years experience on Wall Street. His last book is brilliant.

The book provide interesting facts which we don’t see in the massive media avalanche around us everyday, the author collected pieces and evidences for next coming financial collapse which will let to what he called an “ice-nine” scenario in which the so called “elite” will freeze the entire financial system worldwide and proceed on extreme inflation to cleanup sovereign debts around the world.
I found very essential his explanation of Bayes and complexity theories to forecast financial crisis, SDR as the new IMF money, which may replace all currencies after collapse.
Interesting critics to famous economics schools classical, Austrian, Keynesian and monetarist then Historical with good material regarding gold importance to hold in individual wealth as a protection against inflation and collapse. He gave following time frame for next crash:
- Capture the banking system, 2009–10
- Redistribute gold to China, 2009–16
- Redenominate the SDR, 2015–16
- Print and distribute SDRs, 2017–18
- Destroy debt by inflation, 2018–25
And advised individual to have following Robust all-weather portfolio:
- Coins and Bars of gold and silver, 10%;
- Cash, 30%
- Real estate, 20% (income producing or agricultural)
- Fine art fund, 5% (museum quality only)
- Angel and early venture capital, 10%
- Hedge funds, 5%
- Bonds, 10%
- Stocks, 10% (natural resource, mining, energy, utilities, tech only)

drunkmonkey

I do see the price of 1oz of gold passing the value of a bitcoin but i'm not sure when or in what pattern. I see a fews ways this can happen though,
1# Crypto collapses and people run for cover and that's gold.
2# banking catches up with crypto and moves into some form of blockchain transactions but needs an underlying asset to backup the chain. Gold will be that asset. (Or some gold merchants beat them to it but it will cause a word wide demand).
3# stock market correction.
4# World War

I'm not sure the markets are in a bubble or crypto is in a bubble but if either of them are or you think there may be a correction coming in the next 5/10 years then gold is the safe bet. It nearly always needs a catalyst though aka 2008.

BrokenArrows

ya sure gold will get to 10k eventually but its going to be through natural inflation and not because of some world event.

Wanderer78

apologies for bringing up an old thread, but where would one purchase physical gold and what secure places could it be stored?

drunkmonkey

Wanderer78 wrote: »

apologies for bringing up an old thread, but where would one purchase physical gold and what secure places could it be stored?

I'm not sure where is best but I was thinking of buying shares in this company a while ago, you can buy gold , you get a gold credit card to spend your gold, and an app for buying and selling gold, they have a crypto currency offering as well. https://www.goldmoney.com

Wanderer78

drunkmonkey wrote: »

I'm not sure where is best but I was thinking of buying shares in this company a while ago, you can buy gold , you get a gold credit card to spend your gold, and an app for buying and selling gold, they have a crypto currency offering as well. https://www.goldmoney.com

just came across this crowd, could be interesting:

https://www.goldcore.com/ie/

drunkmonkey

Wanderer78 wrote: »

just came across this crowd, could be interesting:

https://www.goldcore.com/ie/

What the royal mint is doing is interesting http://rmg.royalmint.com
I think they way we invest, hold and spend gold is about to go through a revolution.
Gold money lets you buy a McDonald's with your gold : )

Arthur Daley

Rickards was down in Kilkenomics a year ago delivering this message. So far it's hard to see many of his predictions have been borne out. He was recently on youtube a lot warning of a bit of a dollar collapse in Q4. Again can't say I've seen this, and now the fed has raised rates again.

His arguement is not without it's valid points but at the minute valuations are quite stable compared to the extreme disruption he has suggested in his books.

Wanderer78

Arthur Daley wrote:

Rickards was down in Kilkenomics a year ago delivering this message. So far it's hard to see many of his predictions have been borne out. He was recently on youtube a lot warning of a bit of a dollar collapse in Q4. Again can't say I've seen this, and now the fed has raised rates again.

Was also at it, been following him since, interesting but perhaps a little extreme at times, and possibly edging into conspiratorial at times