James Rickards, author of the new best-selling book called "The Death of Money," says the financial collapse will happen, but he is not sure of when it will come. Rickards explains, "It is the thing you won't see coming that will take the system down. Things happen much more quickly than what investors expect." Rickards adds, "What will happen in gold is that it will chug along and then all of a sudden--boom. It will be up a $100 an ounce, and then the next day it will be up another $200 an ounce. Then everyone will be on TV saying it's a bubble—boom. It's up $300 an ounce and, before you know it, it will be up $100 per ounce. Then people will say gee, I better get some gold, and they'll find out they can't get it because the big guy will get it. You know, like central banks and sovereign wealth funds will be able to get the gold. The typical investor will run down to the coin shop and they will be sold out, and the U.S. Mint will say sorry we're not shipping. You're going to find out you can't get it because the whole thing is set up for massive shortages in supply."
James G. Rickards, Senior Managing Director of Tangent Capital and author of the New York Times best seller Currency Wars, was kind enough to share comment.
James regularly consults with institutional fund managers, governments, and banking leaders worldwide, and participated in the Pentagon’s first ever, financial war games. As described in Currency Wars,
James’ indicates that when the financial wars intensify, “Russia and China [may] acquire massive amounts of gold and then ultimately announce a new gold backed currency,” requiring their trade to be conducted in the new currency as a way to marginalize the dollar.
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