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Gold and Silver Will Protect From Coming Financial Crash – Rickards

 -- Published: Friday, 2 December 2016 | Print  | Disqus 

Gold and silver coins will protect from the coming financial crash – James Rickards, author of The Road to Ruin told Sean O’Rourke in a must listen to RTE Radio interview this week.


Rickards is the best selling author on finance and money and advises the US intelligence community on international economics and financial threats.

His advice to people with savings or investments to protect from the coming crash? Buy gold and silver coins.

“For savers and investors at any level, modest or wealthier – put 10% of your invest-able assets in physical gold or silver, for smaller amounts, silver might do very well.”

“It’s the future of money… Here is why . First of all it is non-digital. Everyone thinks they have money; what they have are electrons in banks…” You can have confiscation, negative interest rates, bank closures.

If you have physical gold you are outside of the digital system – that money cannot be frozen by the government. It cannot be hacked by Vladimir Putin…”

“Even if you have €10,000 (euros), out a thousand euros buy one ounce of gold put it in a safe place. If the banks are shut you will have a valuable asset. Or buy 50 ounces of silver – thats also about €1,000. 50 ounces of silver coins, one ounce coins in a safe place.

You will have something of value, even if the system collapses or not. “

Other key points made in interview:

“Financial Crashes are like earthquakes: we know that they are coming, but we know not the day or the hour. The next one is close and is likely to be severe, even epochal.”

“In 1998, Wall Street bailed out the hedge funds. In 2008, the central banks bailed out Wall Street. In 2018 – if not sooner – who’s going to bail out the central banks?”

Financial crises are cyclical and the next one is close. Not only that, but global elites have a secret plan for the next financial crisis.

It was decided at the G20 meeting in Australia in 2014 that there would be no more bail-outs. Instead, there would be bail-ins: when a bank is in distress, the rescue money comes from the stakeholders including depositors and savers.

“So depositors’ money is at risk, bondholders can take haircuts, stockholders can see their stock go to zero. That’s the new template.”

And this new template means that when the next crisis comes, the whole financial system will be shut down while the rescue is organised. People won’t be able to get their money from banks, they won’t be able to sell their shares. This is pretty scary stuff.

Rickards predicted that Donald Trump would be president and he says that Trump is using the Ronald Reagan playbook to try to boost the US economy, but it won’t work because the world is too different today from the way it was in the 1980s.

“Reagan had a lot of tailwinds: inflation had to come down, interest rates had to come down. He had fiscal space to run up the debt. Trump has headwinds.”

There’s a war going on between national leaders and the heads of major corporations, according to Rickards, and corporation tax will play a major part in the struggle.

“In a financial panic, everyone wants their money back… People say, oh I’ve money in stocks, money in bonds. No you don’t, you have stocks and bonds, but that’s not money. You have to sell them to get your money.”

Rickards’ distressing vision has happened before, he says. In 1933, President Roosevelt closed every bank in America. It’s also happened recently in Cyprus, Greece and in India today.

“It’s the future of money… It’s non-digital. Everyone thinks they have money; what they have are electrons in banks…”

Listen to Rickards Interview Here

Gold and Silver Bullion – News and Commentary

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US Construction Spending up 0.5 Percent in October (

Asian Shares Drop as Trump Effect Fades (

China gold premiums hold near 3-year high (

Doublelines Gundlach likes bonds, gold (

10-year Treasury yield hits fresh 17-month high (

$4.1 billion pulled from U.S.-based taxable mutual bond funds during week: Lipper (

Diana Choyleva: the unravelling of globalisation (

Can the Trump rally last? (

Gold Prices (LBMA AM)

02 Dec: USD 1,171.65, GBP 929.00 & EUR 1,100.88 per ounce
01 Dec: USD 1,168.75, GBP 930.09 & EUR 1,099.68 per ounce
30 Nov: USD 1,187.40, GBP 952.06 & EUR 1,115.44 per ounce
29 Nov: USD 1,187.30, GBP 952.45 & EUR 1,119.98 per ounce
28 Nov: USD 1,189.10, GBP 956.51 & EUR 1,117.99 per ounce
25 Nov: USD 1,187.50, GBP 953.30 & EUR 1,121.83 per ounce
24 Nov: USD 1,187.25, GBP 953.60 & EUR 1,125.04 per ounce

Silver Prices (LBMA)

02 Dec: USD 16.35, GBP 12.95 & EUR 15.36 per ounce
01 Dec: USD 16.30, GBP 12.91 & EUR 15.35 per ounce
30 Nov: USD 16.67, GBP 13.39 & EUR 15.66 per ounce
29 Nov: USD 16.54, GBP 13.26 & EUR 15.61 per ounce
28 Nov: USD 16.68, GBP 13.45 & EUR 15.73 per ounce
25 Nov: USD 16.47, GBP 13.21 & EUR 15.55 per ounce
24 Nov: USD 16.31, GBP 13.09 & EUR 15.43 per ounce


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