Jim Rickards continues:

“The Obama administration has pursued diplomacy very vigorously.  My view is it has failed.  (The other possibility) would be a regime change.  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.  All of this is designed to destabilize the regime.

But I think the regime is too entrenched, the Iranian Revolutionary Guard Corp are too ruthless.  They actually buy cranes, they hang people not from scaffolds, but from cranes, and they are buying more cranes because they are hanging more people.  They’ll do whatever it takes, so I don’t see regime change.

What’s left?  Well, what’s left is war and that is, unfortunately, where I see this heading.  There is a lot of maneuvering going on already.  The Iranians have a submarine fleet that’s kind of interesting because they run on battery power, so they are extremely quiet and hard to detect.  They could take out one or two US vessels.

They also practice these swarm techniques.  They have these speed boats, like in Miami Vice, that type of boat that can go 50, 60 knots.  (They are) much faster than any naval vessel.  They load them up with explosives, they put suicide crews on them.... 

Continue reading the Jim Rickards interview below...


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“If you send out one or two, you (the US) would swat them like flies.  But if you send out fifty of them, even with these kind of laser guided gatling guns they have on some of the vessels, you can’t take all of them out.  So the chance that one of them sinks one of our vessels is not insignificant.

They (Iran) could close the Straits of Hormuz.  The (US) Navy would come in and clear it, but that’s not like moving traffic cones on a highway construction site.  That would probably take weeks because there are mines and minesweeping is a very tedious and dangerous thing that takes a long period of time.

So it could get much messier, much uglier and much more deadly than I think a lot of people realize.  Of course we all know what would happen to the price of oil.  It would be up at $200 a barrel of 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.”

When asked about the call, from Egon von Greyerz, for gold to move into the $3,000 to $5,000 range in 2012, Rickards responded, “Well, it’s certainly possible, I would not rule it out.  I definitely see it in that range, so I agree completely with Egon that’s where it is heading.

Timing is always tricky.  I have the direction and the magnitude right, but I see it as 2013, then going into 2014, I can definitely see it (gold) getting to that level.  2012 might be a stretch, but it could happen.  Look, I would absolutely not rule it out, but it’s probably more in the next two years, rather than in the next year.”

This is a very important interview with one of the top individuals in the world of national security.  Rickards also had more to say about central planners actions and how it will impact the price of gold.  The KWN Jim Rickards interview is available now 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

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© 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.

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