You Don’t Need to Be a Goldbug to Believe in Gold (Video)
Jim Rickards is on a roll this week, with another interview on Bloomberg TV in which he tells some skeptical hosts that the Fed’s policies are a disaster and that the stock market is a bubble. He also stuck by his commitment to long-term gold, insisting that he’s bullish on it because of his fundamental analysis that the US dollar is going to collapse.
Gold correlates to one thing: the dollar… When gold goes up, what it really means is the dollar is down. So for gold to go to $7,000 – which I expect – what that means is that the dollar will lose 80% of its value, which it did in the 1970s… A gold rally is really a dollar collapse, and we should expect a dollar collapse.”
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