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James Rickards – Fed Insolvent, Dollar Will Collapse 90% or More


http://usawatchdog.com/fed-insolvent-… James Rickards, author of the new book, “The Death of Money,” foresees big inflation because the U.S. dollar’s buying power will shrink. Rickards predicts, “Imagine gas at $20 a gallon and bread at $10. That’s what we’re talking about.” So, if big inflation is coming, what about gold? Rickards says, “When I say the price of gold is going to $7,000 or $9,000 per ounce, which I expect it will, what I am really saying is the dollar is going to collapse 80% or 90% or more.” It did in the 1970′s. None of this is unprecedented. It all happened before.”

Rickards says, “When a collapse happens it will happen quickly. You won’t see it coming. There won’t be time to run out and buy gold, and it probably will not even be available at that stage. You need to prepare now.”

Join Greg Hunter as he goes One-on-One with financial expert and Wall Street insider, James Rickards.

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  • john

    You will NEVER ever make a profit owning gold . Here’s why . When gold reaches the whatever thousands of dollars an ounce that means the dollar is worthless or very near to being worthless. Now you own gold, would you sell it for a valueless fiat paper ? The gold you have will only be used as barter for food . Our corrupt government may even say owning gold is illegal or tax it at such a high rate to convert it into a new currency that replaces the deceased dollar.

    • farang

      “john
      4 hours ago
      You will NEVER ever make a profit owning gold . Here’s why . When
      gold reaches the whatever thousands of dollars an ounce that means the
      dollar is worthless or very near to being worthless. Now you own gold,
      would you sell it for a valueless fiat paper ? The gold you have will
      only be used as barter for food .”

      Excuse me, john? Eating while you are not is the *entire point.* Gold is a hedge, a barometer of a currencies’ strength. If a wise man sees weakness currently and upcoming in a currency he uses daily, he buys PMs. Not rocket science.

      You might not see it as “profit”, but my belly will, and I won’t hear your’s grumbling. You were warned.

      • john

        Food is not nor ever will be profit . You missed my point completely . You think hedging against a worthless sheet of paper is profit , don’t you ? I have gold and don’t think about me just worry about your own stomach . I don’t care about yours.

        • john

          Say Faring I noticed that you make stupid comments on every subject you read about . 2,562 to be exact. Your comments come from the mind of a simpleton with no real grasp on reality. Now I expect another obtuse remark from the mindless.

  • duffer

    which is the PERFECT time to introduce an all electronic currency and chip. bada-bing. no fiat paper to print. price controls get enforced…everyone gets sent to a FEMA camp if they don’t sign on. you wait….tick-tock…. plus for added scary enticement, the preying mantis woman who helped build the pyramids will get you!!