Threat Of Cyber War – “Other Reason To Own Physical Gold” – Rickards…” Gold insurance against “catastrophic event” … “on the horizon”
By: GoldCore
GoldSeek.com
Thursday, 30 July 2015
– “Physical gold is a non-digital asset. You can’t attack it with cyberwarfare” – Rickards
– Greek crisis was necessary step towards fiscal unity in Europe
– “Euro creators want to force common fiscal control – Eurobonds”
– Currency wars between U.S. and China may resume next year
– Rickards emphasises importance of holding physical gold
– Eschews “paper gold” in the form of ETFs, futures or unallocated storage
– Gold insurance against “catastrophic event” … “on the horizon”
Author and monetary expert Jim Rickards says that gold, apart from its qualities as a form of insurance against conventional economic crises, is an essential hedge against cyber warfare.
In an interview with Henry Bonner at SprottGlobal.com, ahead of the Sprott-Stansberry Vancouver Natural Resource Symposium taking place this week, Rickards said this subject would form part of his talk at the conference.
We have frequently covered the risks posed by cyber warfare and cyber terrorism to markets, investments and deposits, and these risks remain, as yet, widely underappreciated in the mainstream media and the wider world.
For example, the Stuxnet virus believed to have been deployed by the U.S. and Israel in cyber war against Iranian nuclear reactors almost caused a major environmental disaster in 2010. Dormant malware – believed to be of Russian origin – was found hidden and awaiting activation in the software that runs the Nasdaq exchange.
Moscow-based Kaspersky Lab showed earlier this year that an international team of hackers gained access to bank’s customer accounts – with the ability to alter account balances without the banks even being aware of their presence.
These examples show the highly vulnerable nature of the interconnected systems upon which people in the west have come to rely.
As Rickards astutely points out,
“Physical gold is a non-digital asset. You can’t attack it with cyber warfare, so I think it has another insurance function for investors there.”
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