US will go to war with Iran, Oil and Gold will spike: Jim Rickards
04 January 2012
Jim Rickards, author of the hugely successful Currency Wars, believes that Crude Oil and Gold will spike in the near term due to a US-Iran war.
“I say the war has already begun. There’s a lot of sabotage, there have been assassinations, strange things blowing up, rebellion. So there is enormous pressure being put on the Iranian regime from many directions”, Rickards said in a King World News interview.
“Of course we all know what would happen to the price of oil. It would be up at $200 a barrel or higher. So, let’s hope it (war) doesn’t happen, but that’s one we could see happening in 2012, maybe even by the summer”, he said while adding that Gold may move to $3000/oz – $5000/oz range in 2012.
Bridgewater, the biggest hedge fund in the world, is also positioned long gold in 2012. The Fund manages about $125 billion in assets.