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Jim Rickards continues:


“He just sort of did it out of the blue.  Roubini is probably the world’s most famous economist...so he’s got a big public persona.  Why is he picking on me?  But what struck me about that is he put this challenge out there and I said, ‘Well, he obviously hasn’t read the book.’  In the book I say exactly that, I say that yes, the gold standard of the 1920s did help to cause the Great Depression.


So for Roubini to say that just tells me that he didn’t read the book.  So I couldn’t let that go.  I responded and then he comes back and he resorts to name calling.  He was condemning the book that he thought I wrote.  He wasn’t condemning the book that I actually wrote. 


He very clearly did not read the book and this is really inexcusable.  It’s very poor scholarship.  I mean, Roubini went to Harvard, I didn’t go there so I am not sure what their pedagogical technique is.  But where I went to school you were taught that you never cited any work without reading it.  If you were going to put an article or book or something as part of your argument, pro or con, you had to read it before you could cite it....


Continue reading the Jim Rickards interview below...




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“That was just good scholarship and here Roubini goes off on ‘Currency Wars’ and very clearly had not read it.  So it was just sloppy, ignorant in some ways and anyway we got into this big twitter war and it got a lot of attention.  But I just felt at the heart of it was the fact that he was criticizing a book he had never read.”


When asked about how the world will transition to SDR’s, Rickards responded, “...You’ll see big companies like Caterpillar and others that have global operations start to issue bonds in SDR’s.  They’ll be underwritten by Goldman Sachs and others and you will see Goldman Sachs, Morgan Stanley and Credit Suisse and others start to make markets in SDR bonds.  You will start to see a repo market so you can leverage it up.


This will all happen little by little, but the blueprint has already been laid.  You know we’ve done a lot of interviews on King World News, Eric.  Let’s plan one for a year from now and mark my words, a year from now the SDR market will have taken significant strides toward becoming a market with a full range of maturities of investable assets and basically the new reserve currency of the world.


The question is:  Is that any more stable than the dollar?  In the long run it’s really no more stable, but in the short run it may work to paper over.  I mean we papered over the depression in 2010 with dollars.  We may paper over the depression in 2011, 2012 with euros.  Eventually they are going to try to paper it over with SDR’s, but at the end of the day it’s all just paper.”


In this interview Rickards discusses Roubini, gold, China, what the central planners are up to and much more. The KWN audio interview with Jim Rickards will be available shortly and you can listen to it by CLICKING HERE. 


Jim Rickards’ new book Currency Wars: The Making of the Next Global Crisis has just officially launched and has made the New York Times Best Seller list for the second week in a row!  Make sure to order your copy today! 


James Rickards is a Senior Managing Director of

Tangent Capital in New York and the author of

“Currency Wars: The Making of the Next Global Crisis”

Penguin/Portfolio Nov., 2011, to order CLICK HERE.


© 2011 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


Eric King

KingWorldNews.com

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