James Rickards: The Death of Money | McAlvany Commentary

This Week's Interview with James Rickards:
-Collapse not unprecedented, 3X in last 100 years
-Gold required in crises portfolio
-Buffet dumps Dollars for hard assets
Jim Rickards, portfolio manager at West Shore Funds and author of the forthcoming book, Death of Money, explains the dynamic behind the price moves (disclosure: West Shore Funds does invest in gold). "One of the reasons gold did so poorly in 2013 was because 500 tons were taken from [the gold ETF] GLD warehouse by authorized dealers and dumped on the market," he tells us in the video above. Rickards says most of that gold went to China, but China is storing it so it is "not going to see the light of day for 300 years."
James G. Rickards is an American lawyer, economist, and investment banker with 35 years of experience working in capital markets on Wall Street. He is a writer and is a regular commentator on finance. Wikipedia