Rickards Says Its A Depression, Not a Recession

[Reub]

Fascinating interview with Jim Rickards, who predicts $7000/oz. gold among other things:

http://www.youtube.com/watch?v=-r0uXX4g ... e=youtu.be

He begins at 12 minute mark.

[smurff]

Interesting how he talks about being in an inflation and a deflation at the same time.

[Reub]

It sounds like he's saying that we are in a deflationary spiral and the Fed is trying its best to inject inflation as a counterweight. In either scenario, he says, gold is the winner.

[Ad Orientem]

That was a very interesting interview. Thanks for posting. And I concur that his view seems to be that we are in a deflationary depression which the Fed is determined to break with massive money printing. Long term gold (and silver?) would be a huge winner in such a scenario.

I am sooo glad Im in the PP.

[RuralEngineer]

All I know is the economic climate is some flavor of crap that I don't care to taste anymore.

[Reub]

Part two of the interview now available:

http://rt.com/shows/keiser-report/episo ... eiser-731/

Rickards starts at the 14 minute mark.

[Ad Orientem]

Interesting. Rickards seems to be towing Keiser's line that long term the world is going to end up back on some kind of gold standard.