Jim Rickards latest book "THE NEW CASE FOR GOLD"

There are a lot of links to stories that China will issue a gold backed yuan on April 19th. I think they are confusing the new Yuan backed Gold Exchange.

There may be truth to the stories but l have not yet found a reliable source, just lots of alternative news site stories.

If it is true and some analysts are saying it is true, then things could get very interesting very fast.

Apparently the Chinese have also declined to accept dollars in exchange for the new gold backed Yuan. That would be cataclysmic and the $64,000 USD gold price quoted by Reuters may become real.

There are a few scenarios where this could all be true, but until a real news site picks up the story I'll keep to my own timetables.

I'll watch April 18th carefully though!


https://politicalvelcraft.org/2016/02/01/shanghai-shock-april-19-2016-yuan-based-gold-standard/

And ANZ is involved with China in this venture btw.
 
JulieW said:
Edit to above:

Bloomberg, not Reuters.
http://www.goldcore.com/us/gold-blog/gold-at-64000-bloombergs-china-gold-price/
Click to expand...

This Bloomberg article explains much which will prove to be true.
But, being dated 5 June 2015, it is an early warning.

When gold reserves in China, Russia etc are audited in a believable way - simple maths will reveal to the
world the gold reserves controlled by the US government. That is how the US reserve currency status will die.
A rush out of $US assets will then happen. In that way, gold and most physical assets will be valued much more highly in $US.
With the reserve currency gone - a major revaluation of all currencies will happen in relation to gold and physical assets.
 
gold was 35 went to 800,

now from 1200 go to 10000, not a big deal
 
alor said:
gold was 35 went to 800,

now from 1200 go to 10000, not a big deal
Click to expand...

After being suppressed for almost 40 years gold was freed right during a period of high inflation and went from 35 to 800/850. Not exactly the economic climate we are in today. And who is to say gold isn't headed back below 1000? What would make gold go to 10000 today would be catastrophic economic events. I would call that a big deal.
 
dccpa said:
alor said:
gold was 35 went to 800,

now from 1200 go to 10000, not a big deal
Click to expand...

After being suppressed for almost 40 years gold was freed right during a period of high inflation and went from 35 to 800/850. Not exactly the economic climate we are in today. And who is to say gold isn't headed back below 1000? What would make gold go to 10000 today would be catastrophic economic events. I would call that a big deal.
Click to expand...

Agreed. There would have to be a major happening for Gold to shoot up that high. Info wars, Rickards.....not for me.
 
PitBullion said:
dccpa said:
alor said:
gold was 35 went to 800,

now from 1200 go to 10000, not a big deal
Click to expand...

After being suppressed for almost 40 years gold was freed right during a period of high inflation and went from 35 to 800/850. Not exactly the economic climate we are in today. And who is to say gold isn't headed back below 1000? What would make gold go to 10000 today would be catastrophic economic events. I would call that a big deal.
Click to expand...

Agreed. There would have to be a major happening for Gold to shoot up that high. Info wars, Rickards.....not for me.
Click to expand...
Just because you don't want a global financial crisis doesn't mean there wont be a global financial crisis. And it may not be an overnight event, it may develop over a couple of years.
 
JulieW said:
...Rickards wealth preservation strategy is currently in hard assets. His portfolio advice of 10-20% gold, is in my view pretty much baseline for anyone who's been observing the current shenanigans - e.g Deutsche Bank, the latest FDIC letter from Dimon on JPMorgan Chase's failure to present a credible plan for winding itself down if the bank failed. etc, etc.
(see jsmineset.com for an unnerving commentary).
Click to expand...
An interesting point (repeated in the interview in the first post) is that gold is unique in attracting highlevel, widespread criticism and a demeaning of individuals that hold gold, something you dont see this with other metals, while in parallel many countries (with some notable exceptions) are growing their stockpiles of gold.
 
SilverPete said:
JulieW said:
...Rickards wealth preservation strategy is currently in hard assets. His portfolio advice of 10-20% gold, is in my view pretty much baseline for anyone who's been observing the current shenanigans - e.g Deutsche Bank, the latest FDIC letter from Dimon on JPMorgan Chase's failure to present a credible plan for winding itself down if the bank failed. etc, etc.
(see jsmineset.com for an unnerving commentary).
Click to expand...
An interesting point (repeated in the interview in the first post) is that gold is unique in attracting highlevel, widespread criticism and a demeaning of individuals that hold gold, something you dont see this with other metals, while in parallel many countries (with some notable exceptions) are growing their stockpiles of gold.
Click to expand...

I love these 10% ers. So what do you do with the other 90% ? Cash in the bank ? Stocks -property ? Seriously where do they get 10%. So if the world falls apart and gold goes up say 10x and everything goes to hell you break even lol. That is a plan I call BS. My motto is buy as much as makes you feel comfortable. That may be 10% or 50% or 100% - it all depends. Also it depends on how much you have. If your total wealth in $200M that would be different to someone who has $10k.
 
Ronnie 666 said:
SilverPete said:
JulieW said:
...Rickards wealth preservation strategy is currently in hard assets. His portfolio advice of 10-20% gold, is in my view pretty much baseline for anyone who's been observing the current shenanigans - e.g Deutsche Bank, the latest FDIC letter from Dimon on JPMorgan Chase's failure to present a credible plan for winding itself down if the bank failed. etc, etc.
(see jsmineset.com for an unnerving commentary).
Click to expand...
An interesting point (repeated in the interview in the first post) is that gold is unique in attracting highlevel, widespread criticism and a demeaning of individuals that hold gold, something you dont see this with other metals, while in parallel many countries (with some notable exceptions) are growing their stockpiles of gold.
Click to expand...

I love these 10% ers. So what do you do with the other 90% ? Cash in the bank ? Stocks -property ? Seriously where do they get 10%. So if the world falls apart and gold goes up say 10x and everything goes to hell you break even lol. That is a plan I call BS. My motto is buy as much as makes you feel comfortable. That may be 10% or 50% or 100% - it all depends. Also it depends on how much you have. If your total wealth in $200M that would be different to someone who has $10k.
Click to expand...
Yes, it would depend on your risk appetite, outlook and personal wealth at a particular point in time. Not all of us can afford both property and a sizeable amount of gold (for example), but I would say at least try to have some physical holding of precious metals, and if you cant afford gold then even silver is better than nothing (and better than investments that can evaporate to nothing.) An ounce of gold or a kilo of silver will still be an ounce of gold or a kilo or silver in a decade's time.
 
since we all are at different places, so the impact from ground zero would be greatly different.
 
Ronnie 666 said:
SilverPete said:
JulieW said:
...Rickards wealth preservation strategy is currently in hard assets. His portfolio advice of 10-20% gold, is in my view pretty much baseline for anyone who's been observing the current shenanigans - e.g Deutsche Bank, the latest FDIC letter from Dimon on JPMorgan Chase's failure to present a credible plan for winding itself down if the bank failed. etc, etc.
(see jsmineset.com for an unnerving commentary).
Click to expand...
An interesting point (repeated in the interview in the first post) is that gold is unique in attracting highlevel, widespread criticism and a demeaning of individuals that hold gold, something you dont see this with other metals, while in parallel many countries (with some notable exceptions) are growing their stockpiles of gold.
Click to expand...

I love these 10% ers. So what do you do with the other 90% ? Cash in the bank ? Stocks -property ? Seriously where do they get 10%. So if the world falls apart and gold goes up say 10x and everything goes to hell you break even lol. That is a plan I call BS. My motto is buy as much as makes you feel comfortable. That may be 10% or 50% or 100% - it all depends. Also it depends on how much you have. If your total wealth in $200M that would be different to someone who has $10k.
Click to expand...

Rickards' constant advice is that Gold is insurance. Not a speculative play.

Eternal bear Marc Faber says the way to go is 25% each of equities, PMs , fixed income securities and cash, and real estate, since they rise and fall in opposition so you sell out of one into another at highs and lows to maintain your figures. So gold doubles and RE falls, sell gold, buy real estate until you hit your 25% balance again etc.

It often seems that gold and silver bug views are 100% in PMs and then sell it all to buy RE and stocks when PMs go to the moon.

Overall I wish I'd found Marc Faber 30 years ago.
 
I really dislike teasers!
Can anyone here help me out by telling me what he is alluding to in the quote below?

"And on Page 166, I show you my "mystical" gold-buying formula. Don't buy any gold until you see it."
 
Aurora et luna said:
I really dislike teasers!
Can anyone here help me out by telling me what he is alluding to in the quote below?

"And on Page 166, I show you my "mystical" gold-buying formula. Don't buy any gold until you see it."
Click to expand...

Buy low, sell high? :p
 
JulieW said:
Interested to know a real answer to that one too.
Click to expand...
I am just guessing!
I think he is talking about his one shoe fits all ratio of 10% of your assets in gold.
His logic doesn't make sense! If as he claims one day there will be acute gold shortages and the possibility of gold spiking upwards of $100 a day or $1000 a week, why would anyone want to stick to a 10% ratio?
If I believe his overly optimistic $US10,000 target, which I don't, then every spare dollar I have would be invested in physical gold.
 
Aurora et luna said:
I really dislike teasers!
Can anyone here help me out by telling me what he is alluding to in the quote below?

"And on Page 166, I show you my "mystical" gold-buying formula. Don't buy any gold until you see it."
Click to expand...

Aurora et luna said:
JulieW said:
Interested to know a real answer to that one too.
Click to expand...
I am just guessing!
I think he is talking about his one shoe fits all ratio of 10% of your assets in gold.
His logic doesn't make sense! If as he claims one day there will be acute gold shortages and the possibility of gold spiking upwards of $100 a day or $1000 a week, why would anyone want to stick to a 10% ratio?
If I believe his overly optimistic $US10,000 target, which I don't, then every spare dollar I have would be invested in physical gold.
Click to expand...

He was being sarcastic by calling it "mystical". His advice is:

* Don't use leverage (borrowed money or futures contracts) to buy gold due to the volatility when measured against USD.

* For investable assets, have a 10 to 20 percent allocation of gold.

* DO NOT go 100% gold. He says he doesn't believe in having everything tied up in one asset class.

* The 10% to 20% allocation applies to investable assets, the liquid component of your portfolio. The excludes you home and whatever capital is tied up in making a living... these are not your investable asset pool.

* He recommends to stay focused on the long term and not to get too distracted with the daily ups and downs in the spot price. He says it is the dollar that is the asset under threat, not gold.
 
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