“A gold standard is the ideal monetary system for those who create wealth through ingenuity, entrepreneurship, and hard work. Gold standards are disfavored by those who do not create wealth but instead seek to extract wealth from others through inflation, inside information, and market manipulation.” – Jim
The man who predicted the worst economic crisis in US history is showing us how to survive the next one; and yes, gold is mandatory.
Jim Rickards, a leading economist, lawyer and author, who successfully predicted the current pandemic back in 2018 in his book Aftermath, is now proving gold will hit $8,000+ in the near future, and likely skyrocket past it.
“Lockdowns may not be effective against the virus, but they are very good at destroying economies.
Businesses will not only lock down; they will also go bankrupt or close for good. Job losses will not be temporary; they will be permanent.”
At the writing of this article, 60% of businesses that closed due to the pandemic, will close permanently according to CNBC.
Furthermore, Rickards explains,
“Let’s say I go out to dinner and I tip the waitress. The waitress takes a taxi home, and she tips the taxi driver. The taxi driver takes the tip money and puts gas in his car. In that example, my $1 tip had a velocity of three: the waitress tip, the taxi tip and the gasoline. So, my $1 produces a velocity of three. My $1 produces $3 of goods and services. That’s velocity, but what if I stay home, don’t go out and don’t spend any money?”
“In that case, my money has a velocity of zero. $7 trillion times zero is zero. If you don’t have velocity, you don’t have an economy. The $7 trillion is the base money supply, and that could be $8 trillion or $9 trillion . . . and that by itself does not produce inflation. What you need is turnover, and we are not getting that.”
Rickards new book titled The New Great Depression is predicting rough times ahead for the U.S. economy, but not every asset class will lose, and some will win big. Rickards says,
“In August of 2020, gold hit a new all-time high. Silver is not at an all-time high, but it has performed very well. Actually, if you break down asset classes with silver, gold, stocks, bonds, oil, etc., the number one performing asset class was silver, and the number two was gold. Silver was up about 47%, and gold was up about 25% give or take. Gold and silver outperformed stocks and all of the other asset classes, but they are going to go a lot higher and they have to…
Gold is going to $15,000 per ounce, and by the way, that is my forecast. . . . Silver will be three figures ($100 or more per ounce.)
Rickards also reminds us the central banks being net buyers of gold and will continue to be. He says everybody should have gold and silver in their portfolios, emphasizing he does not sell any precious metals.
His warnings are for hard working Americans. His astounding prediction from his book “Aftermath” on pages 285-295 talk to a coming pandemic before the year 2022.
This book was published in 2019 (Rickards also did public interviews on his coming book throughout 2018) and before the end of the publication year, he was spot on the money.
Rickards is also pointing to the imminent roll out of the elite plan titled, The Great Reset. Obama’s former Chief of Staff and former mayor of Chicago, Rahm Emanuel, once said,
“Never let a good crisis go to waste. It’s an opportunity to do the things you once thought were impossible.”
Rest assured they are not going to let this “good crisis” go to waste.
“The elites always have a plan, multiple plans on multiple fronts. They write the plans and put them on a shelf and they wait for a crisis. And in times of criss they take these plans off the shelf, roll them out and say ‘here’s the answer.’ They use the fear and the uncertainty in the general population as a platform for pushing an otherwise generally unpopular plan in the guise of a solution.”
This next financial crisis will be bigger than 2008:
We’re heading for a depression the likes of which we’ve never seen before: all this money printing to retard the effects of CV19 is NOT going to produce inflation—just the opposite
The progressives don’t always get their plans but when they do they never take them back as we saw in the USA with the Patriot Act after 9/11 – now ushering in, The Great Reset
Civil unrest is just getting started, “In case you thought Antifa were Anti-Trump, they’re not. They’re Anti-You.”
The U.S. economy will probably tip into recession in the first quarter of 2021. This will mark the first “double-dip” recession since the 1980-81 period when a new recession began just one year after the prior recession ended.”