The Gold Chronicles: October 7, 2015 Interview with Jim Rickards

Jim Rickards, The Gold Chronicles October 2015:

*History of IMF, one of the big 3 Bretton Woods institutions
*The IMF has evolved into its most powerful role ever
*IMF is a functioning world Central Bank
*The Fed has in effect been operating in a 2 year tightening cycle
*China’s reserves are being consumed at a rate of $100B per month stabilizing the currency
*The Fed may easy by mid 2016. Available tools include: Forward guidance, Negative Interest Rates Policy (NIRP), Direct easing (Helicopter money), QE4
*Emerging markets debt crisis, $9.5 Trillion on emerging markets corporate debt denominated in USD
*IMF is warning about declining liquidity in the bond markets and is encouraging governments to take precautionary measures
*IMF: Bond market liquidity could dis-appear instantaneously
*Physical Gold in non-bank storage is one way to protect against what governments might do under conditions of seizing bond markets
*The IMF has a little less than 3000 tons of gold
*IMF gold assets are the third largest holding in the world according to the WGC
*19 Members of the Eurozone combined hold 19,000 tons
*IMF gold was contributed by members joining when it was originally formed
*IMF has not created SDR’s and purchased gold with it
*Gold price required to support world liquidity in this sense would have to be higher than $10,000 per troy oz
*What tools can investors use when it comes to gold in light of potential problems with liquidity

 

 

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