Two unusual stories are unfolding for gold — one strange and the other truly weird, this according to bestselling author Jim Rickards. “These stories explain why gold is not just money but is the most politicized form of money,” Rickards, the author of Currency Wars said on Wednesday. “They show that while politicians publicly disparage gold, they quietly pay close attention to it,” Rickards said. The first strange gold story involves Germany and its repatriation of its gold from New York and Paris, Rickards explained how this move was much more political than anything. The second weird event for Rickards is Treasury Secretary, Steve Mnuchin’s visit to Fort Knox. After Mnuchin tweeted that all $200 billion dollars worth of gold is still there, Rickards said a few red flags went up for him. “Mnuchin is only the third Treasury secretary in history ever to visit Fort Knox and this was the first official visit from Washington, D.C., since 1974. The U.S. government likes to ignore gold and not draw attention to it. So why an impromptu visit by Mnuchin.”
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24 Comments
This is fools' gold. Listen to the price not hogwash talk.
Fuck gold…buy bitcoin and read your tax laws in your country. Plain and simple
Get rid of the background noise & people walking around
2017-09-10 8:30:02.93 GMT +7
The best interview I've seen with Jim Rickards in a long time. A lot of times it seems as though he gets stuck on his prepared talking points. Maybe those times he was selling a book or something I can't remember. Anyway this was good, thanks.
What has happened to this rumor about the disappearance of Gold during the Clinton era?
And how long would 350billion last us? Answer: not long
Jim's remark about that 'small nationalistic German party' that will somehow have to form a coalition with Angela Merkel, is complete bullshit.
This party (the FDP is the only party that would very loosely fit that description) didn't even make the 5% minimum threshold in the last major German elections.
So Mr Richards really expects us to believe that Angela Merkel could already foresee a coalition with an extremely small, almost marginal, political party in 2013?
Prove to me that Germany got ANY gold back. It is also possible that after three years Germany finally gave up and admits they'll never get their gold back. And so, the politically correct (as in "dishonest and corrupt") thing to do is say "we got it all back" as a way to say "we don't want to talk about this any more".
Property tax = communism
And where did they get the gold to give back to Germany since it was not there bars that they put in fact. They got it from Libya and Ukraine
Lol… what about bitcoin and cryptos. If you think gold is having its day I just doubled up in cryptos withi a few months… time to buy gold and cryptos.
The Fed and the government are desperate. They will continue to fraud and leech the system, screw the people until there's no blood left.
I've never owned gold but now I suddenly want an ounce just on the off chance it might increase in value seven and a half times. Heck, even if they went by the current Dollar to Gold Ratio http://www.usdebtclock.org/ that's still more than a four and three quarter's increase and would make an excellent return on sale.
I Love Kitco but could this interview be held in a private room or somewhere quite without that blonde, in the pink dress and that scarf or shawl or whatever it is she has wrapped around her, in the background always moving around and getting up and walking around, etc. She's annoying and a distraction.
This guy is so bullish on Gold that he states Gold will be $10,000 by January but recommends only allocating 5% to ones portfolio?? And you call him an expert??? ROFL!
its funny – I normally class mainstream media as toss, but Kitco News just doesnt seem like "the rest" – I enjoy watching Kitco News vids – they are informative and professional, and its about time the lame-stream media was shown how it should be done !!! well done Kitco News – keep up the good work !!! 🙂
Marcos gold is coming back to the Philippines too…
Weirdness to say the least Daniela 😉 Always nice to hear Jim's perspectives. 🙂
Great explanation on how revaluing gold can help with budget. Thank you. For what it's worth, I don't believe the Ft Knox gold fairytale. FedGov has to rob from Libya et al or buy from primary producers
Paper gold is a criminal farce, when the music stops most wont have a chair.
Leasing gold what a frigging joke…
Buy LItecoin and Bitcoin guys! dont b left out… gold n silver are collecting dust….
This guy has such historical knowledge about the intricacies of the market, really enjoy listening to him.
OK… Jim Richards says that the "could" reset the price of gold to $1,300 a ounce to match the M-1 money supply, but then said the price would go to $10,000 a ounce. If the true price is $10,000, why wouldn't the government set the price to $10,000 and not the suggested $1,300 which is close to the current paper price?
Thanks for having Mr. Richards on the show.