James Rickards, author of the new best-selling book called "The Death of Money," says the financial collapse will happen, but he is not sure of when it will come. Rickards explains, "It is the thing you won't see coming that will take the system down. Things happen much more quickly than what investors expect." Rickards adds, "What will happen in gold is that it will chug along and then all of a sudden--boom. It will be up a $100 an ounce, and then the next day it will be up another $200 an ounce. Then everyone will be on TV saying it's a bubble�boom. It's up $300 an ounce and, before you know it, it will be up $1,000 per ounce. Then people will say gee, I better get some gold, and they'll find out they can't get it because the big guy will get it. You know, like central banks and sovereign wealth funds will be able to get the gold. The typical investor will run down to the coin shop and they will be sold out, and the U.S. Mint will say sorry we're not shipping. You're going to find out you can't get it because the whole thing is set up for massive shortages in supply."
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James Rickards, author of the new book, "The Death of Money," foresees big inflation because the U.S. dollar's buying power will shrink. Rickards predicts, "Imagine gas at $20 a gallon and bread at $10. That's what we're talking about." So, if big inflation is coming, what about gold? Rickards says, "When I say the price of gold is going to $7,000 or $9,000 per ounce, which I expect it will, what I am really saying is the dollar is going to collapse 80% or 90% or more." It did in the 1970's. None of this is unprecedented. It all happened before."
Rickards says, "When a collapse happens it will happen quickly. You won't see it coming. There won't be time to run out and buy gold, and it probably will not even be available at that stage. You need to prepare now."
- Source, USA Watchdog:
http://usawatchdog.com/fed-insolvent-dollar-will-collapse-90-or-more-james-rickards/
Investment banker and Wall Street insider James Rickards says the Libor rate rigging scandal "is the greatest fraud and greatest potential liability in history." He thinks rate rigging banks could be on the hook for "$2.5 trillion," and "The potential damages could destroy the banking system."
- Source:
http://usawatchdog.com/
