Greg Hunter of USAWatchdog interviewed Jim Rickards, author of Currency Wars and The Death of Money. Rickards spoke at length about gold price manipulation and the inevitable collapse of the US dollar as the world’s reserve currency. Hunter had one big question for Rickards – when will the collapse occur and the price of gold skyrocket? Rickards thinks it could happen within the next two years and that whatever triggers it will be completely unexpected. One thing Rickards is sure about: gold will be hard to acquire by the time people realize the dollar is worthless.
“You got shortage of physical supply, demand coming from China, demand coming from India, etc. This is a recipe for… either a short squeeze, or somebody somewhere not being able to deliver [gold]. Once that becomes apparent, then you could see this scramble to buy gold… That’s what will take down manipulation… Once the market prevails over the manipulators, then watch out.”
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Perhaps when it starts climbing again, the appetite for physical gold will drastically increase – creating shortages here and there.
But the bottom is still not in yet… it might be around the production cost levels.