Mint 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. ❑