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Rickards Says Its A Depression, Not a Recession
Posted: Sat May 25, 2013 1:12 pm
by 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.
Re: Rickards Says Its A Depression, Not a Recession
Posted: Sat May 25, 2013 11:03 pm
by smurff
Interesting how he talks about being in an inflation and a deflation at the same time.
Re: Rickards Says Its A Depression, Not a Recession
Posted: Sat May 25, 2013 11:08 pm
by 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.
Re: Rickards Says Its A Depression, Not a Recession
Posted: Sun May 26, 2013 12:06 am
by 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.
Re: Rickards Says Its A Depression, Not a Recession
Posted: Sun May 26, 2013 2:29 am
by RuralEngineer
All I know is the economic climate is some flavor of crap that I don't care to taste anymore.
Re: Rickards Says Its A Depression, Not a Recession
Posted: Sun May 26, 2013 3:05 pm
by Reub
Part two of the interview now available:
http://rt.com/shows/keiser-report/episo ... eiser-731/
Rickards starts at the 14 minute mark.
Re: Rickards Says Its A Depression, Not a Recession
Posted: Sun May 26, 2013 4:53 pm
by 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.