3 Minute Gold News

PART 2 of a 2 PART INTERVIEW

A synopsis of an interview with Jim Rickards, New York Times bestselling author of The New Case for Gold, The Death of Money, Currency Wars and The Road to Ruin, by Daniela Cambone-Taub at Kitco News.

Jim is the editor of Strategic Intelligence, former general counsel for Long Term Capital Management, and a consultant to the U.S. Intelligence community and U.S. Department of Defense.

by: Elaine Diane Taylor

Topics:

Gold and North Korea
Gold and the US Dollar
$10,000 Per Ounce Coming

Jim Rickards

Interview Link

GOLD AND NORTH KOREA

There’s a fear trade happening in gold but people have a short attention span.

The price of gold spiked up last week when North Korea shot another missile, but then people saw it’s not World War III and no nuclear bombs are going off right now, so the price of gold went back down again.

But North Korea is a serious threat.

Jim believes you can see the war is coming. Kim Jong-un is not deviating from his path to get ICBMs and nuclear weapons and the US will not allow it.

There’s no middle ground.

It would be great if we can have diplomacy and ratchet up sanctions on China but we don’t see that happening.

So gold went up to $1,320 then down to $1,311.

There’s also a little bit of profit taking.

There are hedge funds and leveraged players in gold. They don’t really care if it’s gold or coffee beans; they just see gold as a commodity and want a profit.

But the bigger picture is that gold hit an interim low on December 15, 2016 at about $1,128 US per ounce, and it’s been grinding higher ever since.

It’s up about $200 per ounce since then.

Gold is one of the best performing assets of 2017.

It’s been going up and down, but every time it goes up it goes higher than the time before.

US DOLLAR

Gold is money. The US dollar and the euro and other currencies are all money. When we price gold in US dollars we are just using a cross rate to price one form of money by another form.

So when you see a higher US dollar price for gold it means the US dollar is weaker against gold.

Three things are going on right now with the gold price rising:

1. The Fear Trade we just mentioned regarding North Korea.
2. The supply of physical gold is tight.
3. The US dollar is weaker.

So if you want to know where the US dollar price of gold is going then ask yourself where the dollar is going.

The US dollar is going lower.

It has to because Janet Yellen at the Federal Reserve has tightened into weakness (a weakening economy) and the US is getting disinflation instead of inflation.

She wants inflation so she needs a weaker dollar.

$10,000 US PER OUNCE COMING

Jim believes that gold is going to $10,000 US per ounce. Maybe not tomorrow, but that’s where it’s going.

He spoke with Jim Rogers, one of the greatest commodities traders, who told him that nothing goes to the moon( in this case gold is going to $10,000), without a 50% retracement before it resumes its path upwards.

(Elaine ~ This is the same principle in cycles where you pull a child back on a swing, and when you let go the swing goes forward up further than your pull back. I talked about it in a blog here.)

So when Jim Rogers saw that gold went to $1,900 he thought it was a bubble and would pull back down, which it did.

The spike from $1,300 to $1,900 happened very fast and then it retraced about 50% when it hit $1050 in November 2015.

Now it’s on its way back up and we’re looking at what will be the catalyst.

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

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I’m driving across Canada from west to east solo.

In Moose Jaw, Alberta at the moment watching some filming going on outside the window. Looks like Gary V doing a Vlog with his crew.

Gold is up again today, but take a look at that parabolic straight up then fast drop down. Lots of people, and machines, are watching closely.

Elaine Diane Taylor~

September 1, 2017

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Gold is $1,322.30 U.S. per ounce today.

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Here’s what I’m making:

This pendant has 2 grams of pure nugget and flake gold bullion. Straight from the wild rivers along the Gold Rush Trail in British Columbia, Canada. Unrefined. Encased in boro silicate glass. Hand torched in my studio. Available soon.

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A Terrible Breeze (Nuclear War)

words and music Elaine Diane Taylor

SOCAN/ASCAP

The news comes down, a little blue bird sings, words of war, of fire and furious things. President Trump has announced to North Korea that it will defend the US and its allies. North Korea has continued to work towards creating the technology to hit the continental US with nuclear weapons. It’s a terrible breeze they speak of. We all know wind can blow both ways. Defense sometimes involves offense. A horrible balancing act that we all wish didn’t need to be performed in a storm.

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Preparing for the Fall live boutique album 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

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.

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 wisdom we need. The sayings that were copied are the truths, the gods, of our world. All the empires who followed the gods of the marketplace instead have fallen, and there’s terror and slaughter when the gods of the copybook headings return. The lyrics are by Rudyard Kipling. One of my gurus.

Another Week on Wall Street

words and music Elaine Diane Taylor

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. Naked short selling is like betting that your neighbour’s house will burn down. But in this scenario it happens to burn down. If the bankers win then 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 and 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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3 Minute Gold News – Jim Rickards – Gold to $10,000 – September 1, 2017