The Gold Chronicles: May 18th, 2016 Interview with Jim Rickards

Jim Rickards, The Gold Chronicles may 18th, 2016

*The West is waking up to Gold
*Gold inflows have exceeded $13 Billion so far in 2016
*Paul Singer, Stanley Druckenmiller, Jeffrey Gundlach, George Soros all recommending gold
*Gold is the best performing asset for both 2016, as well as the last 16 years since 2000
*There has been a change in teh conversation and narrative about gold in the West
*Investors are losing confidence in Central Banks which is fueling the awareness about gold
*As we have discussed previously on The Gold Chronicles, the technical set up for gold to rise has been in place for some time, and was only awaiting a shift in Western sentiment
*PIMCO economist suggesting an official re-pricing of gold to defeat current deflation and reach Fed inflation targets
*Discussion of how open market operations by the Fed to raise the official price of gold would work
*Kenneth Rogoff is recommending developing economy countries to increase their gold reserves to 10% to diversify reserves composition
*Chief Economist BIS indicates the world monetary system is lacking an anchor – why we think this anchor could be gold
*Why a gold linked SDR could make sense as an international monetary system anchor
*Any attempts to re-anchor the monetary system to gold would require a non-deflationary USD gold price of $10,000 per troy ounce
*Feasability of using gold as an international unit of account today – even if all goods were measured in gold, it would likely require some kind of digital token to facilitate transactions
*No expectations of a Fed rate hike in June
*Detailing a scenario under which the gold price could go down significantly, and the probability of such an event
*Commentary on China’s gold reserves



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