Jim Rickards- Gold Standard is Plan B and Revalue Gold at $5000+ (Dollar is Collapsing) Jim Rickards- Gold Standard is Plan B and Revalue Gold at $5000+ (Dollar is Collapsing) The New Paradigm of Money - Q&A 1v2. Gold Derivatives, Gold Lending, Official Management Of The Gold Price And The Current State of the Gold Market by Frank Veneroso. Fifth International Gold Symposium Lima, Peru May 17th, 2002 Part 1 Gold Lending And Official Management Of The Gold Price Let's begin with an explanation of gold banking and gold derivatives. It is a simple, simple idea. Now, this bullion banker is net short gold when he conducts this operation. So, basically, in doing this operation the bullion banker has a hedged position on the gold price and he takes a small margin---like a half of one percent---from this intermediation.
Now we have a conservative set of gold lending numbers and we have a more aggressive set of such numbers. Now why do we think this? I started out on this crazy voyage with a statement that was made by a man from the Bank of England---Mr. But he didn't give us any absolute numbers. I thought this was intriguing and I did some analysis. I found out something very interesting. Then a bullion banker friend of mine said, "Frank, that's only the half of it---those fourteen (14) principal market makers in the City of London. " Jim Rickards Discusses $4,000 - $11,000 Gold. Fed Downplaying Weak Dollar Federal Reserve officials downplayed the consequences of the falling dollar, underscoring that deflation is still a threat. Jim Rickards, of Market Intelligence; Mike Jackson, of AutoNation; and Larry Lindsey, of the Lindsey Group, share their insight. “[The Fed is saying] we’re nowhere near the all-time lows, we’re back to where we were 15 to 18 months ago…So they look at that and say we’ve been there before,” Rickards told CNBC.
“My only view is that it’s a much more unstable and dangerous world: In the '80s, our creditors were Japan, Europe and the [Arab states]—and the three of them were utterly dependent on the U.S. for their national security.” China is now the U.S.' main creditor and they don’t depend on America for national security, said Rickards. Rickards cautioned investors to stay out of the currency trade, as Fed Chairman Ben Bernanke is selling the U.S. dollar and China is selling its yuan. “Very few people think of gold as money. JPMorgan Chase. Geld für die Zukunft / Bernard Lietaer - edition-zeitnah.de.