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Jim Rickards continues:


“At that point the game really is over.  It will be very transparent that we’re just replacing one kind of paper money with another kind of paper money and that is going to accelerate the rush to gold.  


As soon as people do the math, this is where you start to see these $5,000, $6,000, $7,000 an ounce price targets for gold.  That’s coming sooner than people expect.  Some time in the next couple of years we will see that radical transformation of the international monetary system into gold. 


The thing is right now we are nowhere near bubble territory.  If gold were $10,000 we’d be having a conversation about whether that was a bubble, but at the $1,800, $1,900 level that’s absolutely not the case.  If you are going to ride this long-term trend at the very high levels that we are talking about, you are just going to have to bear this volatility....


Continue reading the Jim Rickards interview below...  




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“My view is when I see the price of gold go down $100 I buy more.  I say, ‘Here is a great buying opportunity.’  I have a substantial percentage of my investment portfolio in gold.  I have other assets as well, I have land, fine art, cash and other things.  It is worth noting that if institutions even went to 5% (of their assets) in gold, the price would go to the moon.  


Even if you apply only .5% to the kinds of trillions of dollars of investable assets that we are talking about, as I say there is nowhere near enough gold at anywhere near these prices to satisfy that kind of demand.  


That’s not a big shift.  That’s not saying they are going to quadruple or quintuple their gold holdings, it just says they are going to maybe double it at most, and that would be an earthquake right there.  And keep in mind that doesn’t even include the central bank buying and the retail buying.”


This segment with JIm Rickards is packed with information on gold and what the central planners are up to in the weeks and months ahead and more.  The outstanding KWN audio interview with Jim Rickards will be available shortly and you can listen to it by CLICKING HERE. 


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 pre-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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