The collapse of the international monetary system that I see coming will happen fast — possibly overnight.
First, we’ll see a run on banks…
Similar to what we saw in Argentina in 2001 or Greece last year, things can get ugly VERY fast.
However, running to an ATM and grabbing paper currency will be the least of your worries.
We’ll also see a monstrous run on gold…
Your local dealer will be sold out or back-ordered.
The Mint will stop taking orders.
Meanwhile… the gold price will likely go ballistic.
It could go up more than $100 an ounce per day, more than $1,000 per ounce per week.
That is what a buying panic looks like. You want gold, but you may not be able to get it or afford it.
The reason is simple. Once paper currencies fail, the only thing left to replace them is gold. That’s exactly why I believe gold will soon reach $10,000 per ounce.
This is no surprise to you if you read my book The New Case for Gold.
But here’s what was NOT in my book...
The “super spike” that I see coming in gold will happen so fast it has the potential to be a 100-year event… or more.
That’s why I just developed a new thesis for gold.
Sure, I think everyone should hold physical gold. But with what I see shaping up in today’s gold market — and the pending monetary collapse — there’s an even BIGGER opportunity here. Look, I understand if…
You’re worried about a paper currency collapse…
You’re worried about the fallout of new “negative” interest rates…
You’ve ever thought about buying gold for safety…
That’s why you simply MUST read my new announcement on gold.
From Wikipedia, the free encyclopedia
James G. Rickards is an American lawyer. He is a regular commentator on finance, and is the author of The New York Times bestseller Currency Wars: The Making of the Next Global Crisis, published in 2011, The Death of Money: The Coming Collapse of the International Monetary System, published in 2014, and The New Case for Gold, published in 2016.
Rickards graduated from Lower Cape May Regional High School in Cape May, New Jersey, in 1969. He graduated from The Johns Hopkins University in 1973 with a B.A. degree with honors and in 1974, from the Paul H. Nitze School of Advanced International Studies in Washington, D.C. with an M.A. in international economics. He received his Juris Doctor from the University of Pennsylvania Law School and an LL.M in taxation from New York University School of Law.
As general counsel for the hedge fund Long-Term Capital Management (LTCM), he was the principal negotiator in the 1998 bailout of LTCM by the Federal Reserve Bank of New York.
Rickards worked on Wall Street for 35 years. Rickards was the senior managing director for market intelligence at Omnis, Inc., a consulting firm. On March 24, 2009, Rickards presented his view at a symposium at Johns Hopkins, that the U.S. dollar was facing imminent hyperinflation and was vulnerable to attack from foreign governments through the accumulation of gold and the establishment of a new global currency.
On September 10, 2009, Rickards testified before the U.S. House of Representatives about the risks of financial modeling, VaR, and the 2008 financial crisis.
Rickards' first book, Currency Wars, was published on November 10, 2011, by Portfolio, an imprint of Penguin Group. In it, Rickards argues that currency wars are not just an economic or monetary concern, but a national security concern. He maintains that the United States is facing serious threats to its national security, from clandestine gold purchases by China to the hidden agendas of sovereign wealth funds and that greater than any single threat is the very real danger of the collapse of the dollar itself. Rickards explains that the Federal Reserve is involved in what he calls "the greatest gamble in the history of finance," via a sustained effort to stimulate the economy by printing money on a trillion-dollar scale.
Rickard's second book, The Death of Money, was released on April 8, 2014 and was a New York Time Best Seller. His third book The New Case for Gold was released on April 5, 2016.
- Selected articles
- James G. Rickards, "A Mountain, Overlooked" The Washington Post (October 2, 2008). Retrieved May 16, 2011
- Charles Duelfer and Jim Rickards, "Financial Time Bombs" The New York Times (December 20, 2008). Retrieved May 16, 2011
- James Rickards, "How markets attacked the Greek piñata" The Financial Times (February 11, 2010). Retrieved May 16, 2011 (registration required)