In his latest interview, silver analyst David Morgan of Silver-Investor.com chimes in on the escalating currency wars, and provides his perspective on the current paper futures market vs. the physical market.
Morgan, who several months ago prominently stated silver would never dip below $30 again, gives his outlook on where to from here after silver has plunged to $22/oz. [Read more...]
David Morgan: Currency Wars, Paper Market & Metals Update
Jim Rickards Explains How Gold Will Reach $7,000/oz at the Sovereign Man event in Chile
For our readers unable to make it to this year’s Sovereign Man convention in Chile last month, the following clip will provide a taste of what was missed. Rickards breaks down his expectations for gold, and outlines the coming scenarios that will propel the metal of kings to $7,000/oz. Rickards states that the current movement towards multiple global reserve currencies will only exacerbate currency wars, and instead of one Central bank behaving badly (The Fed), we will have 5,6, or 7, and that the IMF will soon begin its own QE, by printing SDRs.
The Currency Wars author points out that if global M2 were to be 100% backed by gold, gold would achieve $44,500/oz, but that even merely using M1 and a mere 40% gold backing results in $7,000/oz gold!
Rickards’ clip from Sovereign Man is below:
Jim Rickards: Gold to $4,000 if Deflation Wins
Tangent Capital’s Jim Rickards was on CNBC’s Fast Money today, discussing gold in the wake of the recent smash to $1320.
Rickards called the smash a transition from weak hands at the COMEX to strong hands in China and Russia (& physical buyers across the world).
Rickards stated that the trend is up from here, although gold is likely to trade sideways for a majority of the year before climbing in Q4.
Rickards informed the CNBC shills that gold does well in periods of either inflation or deflation, and that The Fed will do everything they can. When they can’t win the battle against deflation, they devalue the currency against gold ’cause gold’s the only thing that can’t fight back.
The Currency Wars author states that If the Fed wins we’ll get inflation and gold will go up. If deflation prevails, we’ll wake up one morning and gold will be (revalued to) $4,000/oz.
Rickards’ MUST WATCH thoughts on gold are below: [Read more...]
IMF Forces Cyprus to Sell €400 Million Worth of Gold!
A breaking Reuters report has revealed that to what should come as no surprise to SD readers, buried in the Troika’s bailout of Cyprus, is a stipulation that Cyprus hand over 10 tons (€400 million) in gold reserves to the ECB/IMF pirates bureaucrats.
Like every other engineered crisis over the past 10 years, it was all about the gold. [Read more...]
JS Kim: How to Spot Counterfeit Money? Just Look in Your Wallet
The global financial system is crumbling right before our very eyes because criminal bankers have imposed a fraudulent, rubbish fractional reserve banking and monetary system upon us that is the world’s largest criminal cartel of thievery and immorality. Understand that with the world’s currency race to the bottom, if you leave your money in the form of fiat currency, bankers will turn thousands of paper millionaires into paupers in a few years. [Read more...]
Survivor of Mexican Peso Devaluation: Read the Writing on the Wall, Extricate Yourselves From Your US Dollar Positions!
In light of the recent events in Cyprus, where the banks will reportedly remain closed at least through March 26th and the likelihood that Cyprus will exit the Eurozone, re-institute the Cypriot pound and devalue the currency is growing by the minute, we thought it apropos to republish LRS’ first hand account and experiences recognizing, surviving, and even profiting from the devaluation of the Mexican Peso in the late 1970′s.
For those unfamiliar with the account of the 1976 Mexican Peso devaluation (and anyone who has not experienced a currency devaluation first-hand), this is an ABSOLUTE MUST READ as while the Cypriots may be the first, they will undoubtedly not be the last to devalue their currency before the global financial debt crisis is over.
LRS, who successfully saw the Peso devaluation coming and side-stepped loss of wealth by converting his funds into US dollars, states that Americans must:
Read the writing on the wall, and extricate yourselves from your US dollar positions. Physical gold and silver bullion and coins will be the ultimate protection and wealth preservation assets during the coming devaluation of the US dollar.
My experience with the peso devaluation makes it necessary for me to move my investments away from paper into physical gold and silver. It is going to be a very tough time for the US and I anticipate the Mexican devaluation will pale in comparison to our dollar devaluation.
LRS’ full first-hand account of the Mexican Peso devaluation is below:
[Read more...]
Keiser Report With Jim Rickards: Financial Pearl-Harbor
In this episode of the Keiser Report, Max Keiser and Stacy Herbert ask why China fears currency war. They also look at Johnson & Johnson’s big loss on Venezuela’s currency devaluation and what this means in a currency war world where major devaluations can happen at any moment. In the second half of the show, Max Keiser talks to Jim Rickards, author of Currency Wars, about which nations are winning the war. [Read more...]
Jim Rickards: An Economic Pearl Harbor We Never Saw Coming!
China has acquired 2,000 tons of gold, and need to acquire another 2,000 tons. China is converting large amounts of dollar derivatives contracts into physical gold.
Tensions are rising between the US & China, and China is secretly stockpiling massive amounts of gold…
As the currency wars were heating up, China wasn’t just stockpiling gold futures contracts. They also had their hedge funds take positions in a block of highly leveraged derivatives. Out of the blue China orders these hedge funds to sell these secret holdings-all at the same time. In 1 single day they dump the equivalent of the entire GDP of Canada, India, or Russia on Wall St.
An economic Pearl Harbor we never saw coming… [Read more...]
Jim Rickards: No Way Fed Will Stop Easing
James G. Rickards, author of “Currency Wars: The Making of the Next Global Crisis” sat down w/ Kitco News’ Daniela Cambone to discuss his work and the evolving “currency wars”. Rickards discusses the national security risk posed by clandestine gold purchases by China, hidden agendas of sovereign wealth funds, and how the escalating currency crisis threatens to throw the world into WWIII!
Rickards full interview is below:
[Read more...]
Currency Wars: Bye Bye Petrodollar – Buy, Buy Gold
Competitive currency devaluations are in effect a continuation of currency debasement. Debasement is simply the devaluing of one’s currency or money. In ancient and medieval history it used to be done through the clipping of gold and silver coins.
Today it is done through excessive money creation through the printing of, and indeed the electronic creations of billions and billions of dollars, pounds, euros and other fiat currencies. Indeed, today central bankers are creating billions and billions of electronic money simply by pressing a few buttons on a computer.
Currency wars are set to deepen as most industrial nations in the western world are close to insolvent and look on the verge of recessions – potentially deep ones.
The U.S. will never be able to pay its debts back and so it will attempt to inflate them away through currency devaluation. This poses risks to the global reserve currency status of the dollar – especially as the world moves to a multi polar world where India, Russia, Brazil and China exert their increasing economic and political power.
[Read more...]
The Economic Impact of a War Between Japan & China
Image: AP Photo/Kin Cheung
A major conflict between the region’s two largest economies would not only impose a harsh dilemma on U.S. diplomats, but also have a significant impact on the entire global economy. It is in every nation’s best interest that the Chinese and Japanese settle their territorial dispute over the Senkaku Islands peacefully.
Full MUST WATCH 5 minute war-game scenario & economic impact analysis of a war between Japan & China is below: [Read more...]
Globalization in Reverse: The Ultimate Domino Collapse
Guest Post By Bill H.
The G-20 met this past week and issued statements warning against “currency wars”. But what is it that they are really saying? In reality they are warning against trade wars because we know what these ultimately lead to…real wars. But what is the alternative for countries like Japan? They have levered their economy to the hilt at the behest of U.S. and IMF rocket science economists and their market share has shrunk.
If they don’t knock the legs out from under their currency they will watch deflation set in further and bury their economy and financial system. [Read more...]
Jim Rickards: Currency War 3 Has Just Begun
Jim Rickards, author of “Currency Wars”, speaks with Jim Puplava on Financial Sense Newshour to discuss the new age of global financial warfare and its potential outcome on savers and investors around the world. Rickards states that we are experiencing the start of traditional war games using financial warfare only, and that the global currency wars will continue to escalate as Currency War 3 has just begun.
Rickards’ interview is below: [Read more...]
Jim Grant: The Monetary Revolution is Devouring It’s Children!
The biggest critic of the Fed this side of Ron Paul was on CNBC today discussing global Central Bank currency devaluation.
Grant states that Western Central bankers are attempting to out print the Bernank himself:
Central Banks the world over are going from ease to hyper-ease, and people we thought were extremely radical in their monetary predilections like Bernanke are about to be out-flanked by others still more radical! So the monetary revolution is devouring it’s children!
Grant states that the Fed is at war on the price mechanism: The Fed will not acknowledge that it is suppressing prices, that what it is doing is a species of price controls. Interest rates are prices, and the Fed is manipulating them at the level, & they’re manipulating them on the yield curve!
Regarding the future of QE, Grant states that: The Fed’s hand will be forced by circumstances. The Fed seems to think that it is in control of events, when in fact events will be in control of the Fed.
Jim Grant’s full MUST WATCH interview is below: [Read more...]
Jim Willie: Only a Gold & Silver Standard Can Cure the World of Financial Metastatic Cancer
By Jim Willie, GoldenJackass.com
The Competing Currency War has reached a new elevated fever pitch, with the major central banks delivering powerful damage to each other while defending themselves. The unintended consequences have been a predictable unfolding of events to the sound money gold crowd, with years of warning and even a label given to the conflict.
It comes as an unwelcome surprise to the mainstream sheeple crowd, still entangled in the paper wealth corner. The process continues, the pathogenesis relentless as paper securities erode in value.
The world is slowly coming to the realization that only a Gold Standard can cure the world of its financial cancer from metastasized paper insecurities. The contact of Silver will cleanse the hand that has held paper since 1971, when the era of modern chronic unsolvable financial crisis was born. That is, unsolvable without a primary role for Gold itself, the despised stable metal. Gold is the ultimate currency.
So the Jackass call is that 2013 will see the US Dollar finally isolated and put in a position for rejection. [Read more...]
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