Jim Rickards: Most Likely Outcome Is Still A Monetary Collapse
Gold Silver Worlds
July 27, 2013
In his latest interview Jim Rickards gives an update on his economic and monetary outlook and compares it with his view two years ago when he was writing his book. In particular, he talks about the scenario that is unfolding currently: a monetary collapse.
In general he recognizes that we are going through a major transition which started in 2007. We are on our way to a new economic and monetary situation. Major transitions are characterized by unstability, or a bubbly environment. That will continue till one of the following scenarios becomes reality:
1.Chaos, or monetary collapse.
2.A basket of currencies acting as a world reserve currency.
3.SDR (special drawing rights) issued by the IMF.
4.A form of a gold standard.
Mr. Rickards still expects a collapse of the dollar as the most likely outcome. That has not changed since he has written his book.
Long term outlook – Monetary collapse