3 Minute Gold News
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 CNBC.
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:
North Korea
China
Jim Rickards
NORTH KOREA
An oil embargo will not be effective.
North Korea has already beaten the world to the punch. They’ve been building up their strategic oil reserves and have almost a year’s worth of oil held in reserve.
Also, China has cheated a lot on sanctions in the past.
The thing that would be effective would be for the US to exclude the Bank of China, ICBC and some of the Chinese banks from the US dollar payment system, and shut down their US operations.
They’re facilitating North Korean finance, and that would be a kind of sanction that would actually bite.
But China wouldn’t necessarily put pressure on North Korea if the US did that. They could just put other sanctions on the US, and you would have an escalating trade and financial war between China and the United States without solving the problem with North Korea.
North Korea is in a state called “break out”.
Usually when countries are cheating on nuclear proliferation and development programs, such as Iran, they do it in baby steps.
They get called out, so they back off and wait a year or two, then they break their promises and resume.
North Korea has put all that aside and they’re in break out.
Kim is going for it and not hiding anything.
He’s hoping that the US is bluffing, and that North Korea will be able to get a serviceable ICBM with a hydrogen bomb that can destroy Los Angeles before the US does anything.
The US has maybe six months to act. And the US will act.
CHINA
China would look after their own interest.
They would be concerned about a US ground invasion if the US got anywhere near the Yalu River, as we saw in 1951. (The Yalu River divides North Korea and China).
They would also be concerned that the US was trying to reunify the Korean Peninsula on US terms.
The way the US would deal with China would be to say that the US will act strategically — they will use tactical means to destroy the regime but will not get anywhere near the Yalu River.
The US will have special operations. They’ll use cyber operations. The first thing that will happen is that the place will go dark. The US will shut down the North Korean power grid and shut down the Command and Control. They’ll use cyber operations and psychological operations before the heavy bombers will go in, making North Korea unable to even order their artillery to fire. But, of course, North Korea will fire.
That’s close to the DMZ (the strip of land that is a demilitarized zone between North and South Korea that divides the Korean peninsula). The US will tell China that after it has removed the North Korean regime it will talk to China about reunifying the Korean peninsula on mutually beneficial terms.
That will be good enough for China.
Jim Rickards can be found on Twitter and at James Rickards Project.
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Arrived in Ottawa. Beautiful city. Time for sleep.
Elaine Diane Taylor~
September 5, 2017
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Gold is $1,337.20 U.S. per ounce today.
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Here’s what I’m making:
This pendant has 2 grams of nugget and flake raw pure gold. 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
2017 Elaine Art & Media. All rights reserved.
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. It’s 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
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.
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
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. 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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Elaine Diane Taylor 