James Rickards: Financial Collapse and Massive Shortages In Gold Coming

Greg Hunter: Financial expert and best-selling author James Rickards’ latest book predicts “the coming collapse of the international monetary system.”  One of the sign posts is countries like Russia declaring it will shed the U.S. Dollar as reserve currency in international trade.  Rickards explains, “Putin said he envisions a Eurasian economic zone involving Eastern Europe, central Asia and Russia.  The Russian Ruble is nowhere near ready to be a global reserve currency, but it could be a regional reserve currency.”

Rickards’ latest best-selling book, “The Death of Money,” was released in April.  Even Rickards is surprised at how fast the economic situation is unfolding.  Rickards says, “If you ask me what has happened since you finished writing the book that comes as a surprise, I would say a lot of the things I talk about in my book are happening faster than I would have expected.  Things that I thought would happen in the 2015 or 2016 time frame seems to be happening now in some ways.  If anything, the tempo of events is faster than expected.  Therefore, some of these catastrophic outcomes may come sooner than I wrote about.”

Rickards goes on to say, “Right now, we are on the precipice now.  When you are on the precipice, it doesn’t mean you fall off immediately, but you are going to fall off because you can see the forces in play.  What I tell clients and investors is it’s not as if we are going to make some mistakes and some bad things are going to happen.  The mistakes have already been made.  The instability is already in the system.  We’re just waiting for that catalyst that I call the snowflake that starts the avalanche.   You don’t worry about the snowflakes; you worry about the snow and that it’s unstable and it’s just waiting to collapse.  That’s what the system is right now; we are just waiting for a catalyst.  People ask me all the time, what could it be?  Technically, my answer is it doesn’t matter because it will be something.  It could be a failure to deliver physical gold.  It could be an MF Global financial failure.  It could be a natural disaster.  It could be a lot of things.  The thing investors need to understand is the catalyst doesn’t matter.  It’s coming because the instability is already there.”
read more @ http://etfdailynews.com/2014/05/27/james-rickards-financial-collapse-and-massive-shortages-in-gold-coming/



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