Prepare For Dollar Collapse With 10% To 33% Allocation To Gold – Rickards

Friday, April 11, 2014
By Paul Martin

GoldCore
GoldSeek.com
Friday, 11 April 2014

PREPARE FOR DOLLAR COLLAPSE WITH 10% TO 33% ALLOCATION TO GOLD

James Rickards, author of best selling book, Currency Wars and now The Death of Money: The Coming Collapse of the International Monetary System has done another great interview, this time with Erik Schatzker and Stephanie Ruhle from Bloomberg Television’s “Market Makers.

Topics covered included the risk of a deflationary collapse and depression, the risks of printing and creating too many dollars, the manipulation of gold and the importance of focusing on the long term and not just trying to make money in the short term but rather on preserving wealth.

DEFLATION AND THE RISK OF COLLAPSE
“The system is now larger than 2008 — make the system bigger and you’re going to have a bigger collapse…we are further down the timeline,” Rickards warns.

“Are you going to believe me or the IMF? I have a little better track record.”

“The ultimate thesis is that deflation is the biggest problem in the world.”

“The world wants to deflate but central banks and governments cannot have deflation – it increases the debt-to-GDP ratio, destroys tax collection, creates bad debts and hurts the banks.”

“So central banks will do anything to avoid deflation. The way they do this is to print money. But if you print too much money then you’ll collapse confidence in the U.S. dollar.”

“The U.S. dollar is ultimately backed by confidence, as also said by Paul Volcker.”

“The FEed is insolvent on a mark to market basis. I came to this conclusion himself, but insiders have also told me this privately…they won’t say it publicly.”

“Money is a perpetual non-interest-bearing note issued by an insolvent central bank.
How long can that go on before people walk away from it?”

The Rest…HERE

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