Jim Rickards was interviewed by Dutch financial news station RTL Z about the coming financial crisis. Like Peter Schiff, Rickards sees gold playing a huge role in the future of international currencies.
“What was too big to fail in 2008 is even bigger today. Which means that the next crisis will not just be bigger, but exponentially bigger. And the difference this time… is that it will be bigger than the Fed… That will lead to a collapse of confidence in the dollar and the replacement by something else… It could be gold. In either case, people will run to gold because it’s the one thing you can’t print. It’s the one thing that’s not digital. It’s not bitcoin. It’s actually real. So the implied price of gold in that world will be $7,000 an ounce or perhaps higher.”
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