Jim Rickards is of the opinion (see HERE) that a global currency reset is coming in the not too distant future in the form of an IMF issue, known as a Special Depository Receipt. It will be backed by 20-40% gold from the reserves of the global central banks which will necessitate revaluing bullion to around $7,000 a troy ounce, or there won’t be enough of it to do the job. The unknown factor is the timeline: does this happen this year – or in five years?
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That governments will want – and will NEED – much, much higher gold and silver prices in the future is counter intuitive, given that they have done everything within their power to throttle back and to keep a lid on bullion prices. Let me explain why. Words: 1300
They (the Fed) really want to trash the dollar. Contrary to what a lot of people think, the Fed wants gold to go higher. They just want it to go up in a controlled way, they don’t want to see a super-spike. We may get a super-spike anyway just because of panic buying