Jim Rickards, director of market intelligence for McLean, Virginia-based consulting firm Omnis, was allowed onto CNBC again today to make gold-friendly comments. You may recall his blunt statement on CNBC back in September: "When you own gold, you're fighting every central bank in the world":
Today Rickards remarked that the United States and China are devaluing their currencies against each other in a game of chicken, that gold should easily reach $2,000 per ounce next year just as a matter of supply and demand, and that if gold should start being considered money again, it would have to rise to between $4,000 and $11,000 to support the big increase in the world's money supply.
You can watch Rickards' comments at the CNBC archive here:
Most global banks are still unsafe, warns S&P Standard & Poor's has given warning that nearly all of the world's big banks lack sufficient capital to cover trading and investment exposure, risking further downgrades over the next 18 months unless they move swiftly to beef up their defences.
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This reminded me when Joshua Bell played in Washington DC subway, no takers either.
http://www.youtube.com/watch?v=hnOPu0_YWhw
People are too busy and too skeptical.
Jim Rickards, director of market intelligence for McLean, Virginia-based consulting firm Omnis, was allowed onto CNBC again today to make gold-friendly comments. You may recall his blunt statement on CNBC back in September: "When you own gold, you're fighting every central bank in the world":
http://www.gata.org/node/7835
Today Rickards remarked that the United States and China are devaluing their currencies against each other in a game of chicken, that gold should easily reach $2,000 per ounce next year just as a matter of supply and demand, and that if gold should start being considered money again, it would have to rise to between $4,000 and $11,000 to support the big increase in the world's money supply.
You can watch Rickards' comments at the CNBC archive here:
http://www.cnbc.com/id/15840232?video=1336090735&play=1
Got gold?
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/6638922/Most-global-banks-are-still-unsafe-warns-SandP.html
Most global banks are still unsafe, warns S&P
Standard & Poor's has given warning that nearly all of the world's big banks lack sufficient capital to cover trading and investment exposure, risking further downgrades over the next 18 months unless they move swiftly to beef up their defences.
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