Excellent video on gold, Euro, US economy [View All]

This video interview is long (41 minutes), but it contains an immense amount of information on currency valuations, debt, inflation, monetary policy and gold prices.

(I don't agree with all his policy prescriptions, but a lot of his analysis of what is going on is spot on).


"Rickards and Turk debate whether or not central banks really own the gold they claim to own, and talk about how the current currency war – with countries competing to see who can devalue their currencies the most – is a disastrous zero-sum game. They discuss the problems facing countries whose currencies are appreciating rapidly, such as Brazil and Switzerland, and what these countries might do to curb this appreciation.

They comment on the recent debt-ceiling debate and how the compromise reached, despite all the headlines, does not actually include any real cuts, including only cuts in proposed increases. Rickards mentions his four possible scenarios for the future of the international monetary system: SDR, gold, multiple reserve currencies or chaos.

They talk about the potential for hyperinflation as the US government continues to rely on debt, instead of revenue, to finance an increasing portion of its outlays. Jim Rickards sees the potential for both deflation and hyperinflation and explains that it will depend largely on the actions of the Fed, with Bernanke leaning more in the direction of more money printing."

http://www.goldmoney.com/video/rickards-turk-interview.html