3 Min. Gold News – Jim Rickards – December 17, 2015

3 Minute Gold News

A Quick Read for Busy People

A synopsis of an interview with Jim RickardsNew York Times bestselling author of The Death of Money and Currency Wars, by Charles Payne at Fox Business.

Jim is the Chief Global Strategist for West Shore Funds, former general counsel for Long Term Capital Management, and a consultant to the US Intelligence community and the US Department of Defense.

Topics:

 

Federal Reserve Raised Interest Rates 25 Basis Points

 

Rickards - Brisbane

Jim Rickards

Interview Link

 

The Fed raised interest rates today for the first time in nearly a decade.

We’ll look back at this as one of the great blunders in Fed history.

If you look at the tape, when Janet Yellen used the word “confident” her eyes shifted, which is kind of a tell that she doesn’t really believe it.

They’re raising interest rates into weakness. It’s as simple as that. We’re heading into a recession and you don’t raise rates into a recession.

The time to raise rates was in 2010 – 2011, but two wrongs don’t make a right. Their failure to raise rates then is not a reason to raise rates now. It’s a double mistake.

With the next financial panic, which we should expect in the next couple of years because they happen every seven years or so, where is the dry powder to deal with that crisis?

Some are saying that the Fed only raised 25 basis points. It’s not about the 25 basis points, it’s about expectations.

If this punctures asset bubbles then look out below. How do you pop a bubble slowly? You don’t. It pops all at once.

 

Jim Rickards can be found on Twitter and at James Rickards Project.

 

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Gold is $1,067.20 U.S. per ounce today.

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Not Much of a Holiday
words and music Elaine Diane Taylor
© 2015 Intelligentsia Media, Inc. All rights reserved.
SOCAN/ASCAP
Single available on iTunes

About the Greek bank holiday and long lines to get a few euros for the day. Debt deals behind closed doors. The media telling us what opinions to have. China building islands in the South China Sea and claiming all the waves. More dealing to come. More standing in line for those who owe. Who’s next? There’s a long line of nations in debt and this is far from done.

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AlbumCover.PreparingfortheFall

 

Preparing for the Fall album is available on iTunes — featuring Wag the Dog, Black Swan Dive,  American Pie and Gods of the Copybook Headings.

 

 

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Coins and Crowns
words and music Elaine Diane Taylor
© Intelligentsia Media Inc. All rights reserved.
SOCAN/ASCAP
from the album Coins and Crowns available on iTunes

Single featured in Episode 1 of Mike Maloney’s documentary series Hidden Secrets of Money.

When a nation leaves a gold standard or sound money and borrows to go to war hunger goes up, hope goes down, anger goes up, then it all goes down.


The Gods of the Copybook Headings
words by Rudyard Kipling and music by Elaine Diane Taylor
©2014 Intelligentsia Media Inc.
SOCAN/ASCAP
from the album Preparing for the Fall available on iTunes

The copybooks of the early 1900s gave us all the words of wisdom we need. All the empires who followed the gods of the marketplace instead of the copybooks have fallen, and there’s terror and slaughter when the gods of the copybook headings return. The words are Rudyard Kipling’s. One of my gurus.

Another Week on Wall Street
words and music Elaine Diane Taylor
© 2013 Intelligentsia Media Inc. All rights reserved.
SOCAN/ASCAP
from the album Coins and Crowns available on iTunes

See the bankers wave their Wall Street wands and conjure piles of paper green. They’re making bets that the market will lose. Naked short selling is like betting that your neighbour’s house will burn down, and then it happens to burn down. If they win we lose the whole world as we know it. I wrote this in 2009, with a lyric “A little grease (Greece) is floating out to sea and little pigs (Portugal, Italy, Greece and Spain) are bobbing up and down, they’ll send a storm then we’ll see, when the tide goes out who’s naked on the beach“, and it’s coming on now. The world is changing as we know it.

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Nothing on this site is intended as individual investment advice. We’re all watching which way the wind is blowing.

 

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