Jim Rickards Interview on King World News - click here to listen.
- Financial Warfare - protectionism, excess savings, managing exchange rates.
- Beijing consensus: neo-mercantilism can lead to outright financial warfare
- Bernanke worried about deflation more than anything else
- Money printing in US and Euro is inflationary and balances China deflationary forces
- Gold does well in both inflation and deflation - well suited to times of uncertainty
- Pullback in gold due to liquidation to raise cash in current crunch
- Gold sellers are daytraders, speculators, but buyers look like strong hands
- His Price target on gold to $2,000 short term and $5,000 intermediate term
- Merkel ban on naked short selling was absolutely right - stand up to Wall Street
- The way CDS are being used they are not part of a free market, but a rigged game
- Greece, Spain, and Italy are important NATO allies - we are allowing our own US investment banks to assault them financially (economic hitmen)
- Speculation is fine, but it must be transparent, well funded, and regulated
- No money down, shadow CDS market is completely destructive
- Who are the Bullion Banks serving? Who are the longs and the shorts?
- JamesGRickards is posting on twitter.com
There is a very important thought buried in the observation that Chinese deflationary forces and slack demand are deflationary, but being countered by money printing which is inflationary. That is a prescription for stagflation.
I thought he was rather easy on the Chinese who are egregiously manipulating their currency exchange rate to their advantage vis-à-vis the developed industrial nations of Europe and North America.
