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:
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