By Greg Hunter
Financial expert and best-selling author James Rickards’ latest book [The Death of Money] predicts “the coming collapse of the international monetary system.” One of the sign posts is countries like Russia declaring it will shed the U.S. Dollar as reserve currency in international trade.
On gold manipulation and when it will end, Rickards says, “It will end when the physical shortage gets to the point that someone fails to deliver; which, at that point, there will be a buying panic. There could be a buying panic or what some people call a demand shock. One of the things I said about gold manipulation is if I was the manipulator, I would be embarrassed at this point. The manipulation is obvious. The evidence is coming in from all directions. . . . The manipulation is clear. When will it end? It will end when there is a physical shortage that pops up somewhere, or it will end with a short squeeze.”
Rickards says the collapse will happen, but he is not sure of when it will come. Rickards explains, “It is the thing you won’t see coming that will take the system down. Things happen much more quickly than what investors expect.” Rickards adds, “What will happen in gold is that it will chug along and then all of a sudden–boom. It will be up $100 an ounce, and then the next day it will be up another $200 an ounce. Then everyone will be on TV saying it’s a bubble—boom. It’s up $300 an ounce, and before you know it, it will be up $1,000 per ounce. Then people will say gee, I better get some gold, and they’ll find out they can’t get it because the big guy will get it. You know, like central banks and sovereign wealth funds will be able to get the gold. The typical investor will run down to the coin shop and they will be sold out, and the U.S. Mint will say sorry, we’re not shipping. You’re going to find out you can’t get it because the whole thing is set up for massive shortages in supply.”
Source: USA WatchDog (Whole Article)
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