Jim Rickards, author of Currency Wars, appeared on Yahoo! Finance to talk about proposed legislation in Texas that would allow state pensions to invest in physical gold and would also open a sovereign gold depository where Texans could store their gold. He went on to talk about gold’s long-term prospects in the face of an international currency war and fiat money inflation.
“Gold is actually up 20% in yen. This is where the currency wars and the gold situation come together. Gold is always on the move, but the question is which currency. Whichever currency is devaluing the fastest, that’s where gold’s going up. There’s actually a gold frenzy in Japan right now…This will come around, and eventually it will be the dollar’s turn, and then it will go up in dollars again. So gold is on the move.”
Texas Planning to Hoard Gold? (Video)
Jim Rickards, author of Currency Wars, appeared on Yahoo! Finance to talk about proposed legislation in Texas that would allow state pensions to invest in physical gold and would also open a sovereign gold depository where Texans could store their gold. He went on to talk about gold’s long-term prospects in the face of an international currency war and fiat money inflation.
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