Jim Rickards: "There Will Be A War On Gold"
Following a recent keynote presentation at the Sprott Natural Resource Symposium, James G. Rickards, best-selling author and advisor to the U.S. Department of Defense and Intelligence Communities, was kind enough to share a few comments with the Sprott’s Thoughts publication.
It was a fascinating conversation, as Jim noted the world’s monetary structures resemble, “Two tectonic plates; there’s the natural tectonic plate—deflation—and then…the policy plate of inflation—which is money printing, currency wars, QE, operation twist, negative interest rates, and zero interest rates…”
“These [tectonic] forces are not only coming together,” he explained, “[But] they’re getting more powerful and they’re going to snap…When? No one knows… [But] the effect will be dramatic.”
That tectonic “snap”, Jim described, will have devastating impact on peoples’ confidence in fiat currencies. “Confidence will be lost very quickly,” he said. And like a coiled spring, “You will have your inflation—all at once.”
Even more chilling, was a recent conversation Jim had with banking & government officials, while at the Pentagon.
“I was down in Washington, DC,” he explained, “[And visited] the Pentagon. We were doing a closed door war game [with] maybe 20 people around the table…government officials, CIA, military, think tank people and bankers, etc.
“I was talking about SDRs… [And] a very senior official in the US Treasury…sitting one person away from me (there was somebody in between us), he said, “Don’t you…”