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Why Central Bankers Care About Gold

Jim Rickards is worth listening to. Given he is somewhat of an “insider”, we get an inclination as to where things are heading in terms of the global monetary system.

While the Jim Rickards interview starts at 12:27, it is worth listening to the first half of the program where Stacey and Max discuss the “melt up” in ultra expensive artwork by ultra high net worth individuals. More evidence that a select few get first use of the cheap money on offer we’d say.

In the interview Rickards and Keiser discuss:

  • How if the Fed was a hedge fund (which it sort of is) and marked it to market it would be insolvent.
  • How the Fed is getting closer to the point where they won’t be able to pay “dividends” to the US treasury without becoming insolvent. which will make the US budget deficit worse.
  • How you can’t have a recovery when inflation outstrips wage growth
  • How Central Bank announcements are like computer Vapourware – you make an announcement with no substance to it.

Source Gold Survival Guide

 

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