Thursday, July 14, 2016

The Gold Chronicles with Jim Rickards


Interview Talking Points:

*The West is waking up to Gold

*Gold inflows have exceeded $13 Billion so far in 2016

*Paul Singer, Stanley Druckenmiller, Jeffrey Gundlach, George Soros all recommending gold

*Gold is the best performing asset for both 2016, as well as the last 16 years since 2000

*There has been a change in the conversation and narrative about gold in the West

*Investors are losing confidence in Central Banks which is fueling the awareness about gold

*As we have discussed previously on The Gold Chronicles, the technical set up for gold to rise has been in place for some time, and was only awaiting a shift in Western sentiment

*PIMCO economist suggesting an official re-pricing of gold to defeat current deflation and reach Fed inflation targets

*Discussion of how open market operations by the Fed to raise the official price of gold would work

*Kenneth Rogoff is recommending developing economy countries to increase their gold reserves to 10% to diversify reserves composition

*Chief Economist BIS indicates the world monetary system is lacking an anchor - why we think this anchor could be gold