Coin Update Blog: The New Case for Gold and the Gold Standard

james-rickards-new-case-for-gold-bookMint News Blog’s sister site, Coin Update, has posted the following article by Louis Golino. The introduction appears below; click here to read the full article.

The New Case for Gold and the Gold Standard

If you follow precious metals, you are probably familiar with James Rickards, best-selling author of books such as The Death of Money and Currency Wars, an advisor to the defense and intelligence communities on international economics and financial threats, and a well-known expert on monetary policy and bullish proponent of gold. He has been working for 35 years as an attorney and investment banker.

Rickards has now condensed his key views on gold into a short, easy-to-read volume, The New Case for Gold (Portfolio, 2016), which has several main purposes:

  • to explain that gold is real money, the role gold plays in the international monetary system, and why it is both possible and desirable to fashion monetary standards based on gold as long as it is done right;
  • to make the case for why you should have some gold in your portfolio (he recommends 10%) and how to obtain it;
  • and to explain that, based on his models, the world financial system will before long experience a far greater crisis than the one in 2008. In the aftermath of that collapse, the countries that have the most gold (which are the United States, China, Russia, and Germany) will be those that shape the rules of the new, post-crisis monetary system, in which gold will play a major role.

Click here to read the rest of “The New Case for the Gold Standard,” by Louis Golino.  ❑

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  1. KEITHSTER says

    Would be nice but not enough to go around so they say !!Well Good Luck With That?:>”>”>”>”>

  2. Ryan says

    @ keithster

    Not enough to go around??? You have a currency based on gold not everyone just pays with gold coins.

  3. Mike the Greek says

    More likely what will happen is we’ll go cashless like Sweden. No ink or cotton paper there. Only fat profits for the banksters, and mass manipulation of the monetary system. Increased transfer of wealth from the have-nots to the haves. It’s a death spiral and it ends badly unless we do something about it.

    Like, a gold standard, fer instance…

  4. KEITHSTER says

    Seems to me we’ve been there & done that didn’t work before doubt it would work now. Maybe we need a good copper standard ? Ya copper at $100 oz. can you dig it? Yes you can! Thanks Data Dave hope your right but is their game of late to speed sales up. But your the man with the data so will go with your thought on that one . Good Luck To All “> “>

  5. Throckmorton says

    Just read a forecast of $875/oz for gold within a year. Hope it’s true……what a buying opportunity!

  6. Larry says

    @ Keithster, it did work before, but governments do not like to live within their means. So they get rid of the gold standard which allows them to print as much Monopoly money as they want.
    I thought the fiat system would collapse in the 70’s. It almost did. It seems to be a able to go on forever.
    While many try to hoodwink folks with all kinds of voodoo economics, what it has always boiled down to me is that a Federal Reserve note is a note. It is not money. A note is a promise to pay. If you take a note to the issuer, you should be able to get back something of value, in this case real money. Back in the old days you could take a Federal Reserve Note to a bank and get real silver or gold. Now all you can get is another Federal Reserve Note. Hoodwinked again!

  7. Louis Golino, Author says

    This article obviously did not present my view per se, but rather that of Jim Rickards. The main thing about gold standards is they have had different degrees of success depending on the period in which they were used and they way they were crafted.
    The one that existed from 1870 until WWI is widely regarded as very successful because inflation remained low and trade expanded across borders.
    And while I do not expect the U.S. to try to implement a new one, China is amassing gold and that is believed to be so that it can use the gold to back its currency as the world’s reserve currency at some point.

  8. Mike the Greek says

    Gold standard, copper standard, pickle standard…our currency isn’t “money” because it has no inherent value. Trading “air” eventually catches up with you and from my (limited) research I’ve discovered that every single country that has relied upon fiat currency has had financial collapse…apparently it’s only a matter of time.

    However, what they didn’t have “back then” was digital funny money, and negative interest rates…not sure how that changes things.

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