Jim Rickards latest interview with Anglo Far-East Group
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Dear friend and client of Anglo Far-East,
We are pleased to release an exciting audio interview with James G. Rickards, New York Times best selling author, Fund Manager with the West Shore Group, and advisor to the Physical Gold Fund.
September 2014 Interview with Jim Rickards topics:
*Cease fire in Ukraine holding, Putin is getting what he wants
*What is driving the current drop in the gold price, entry points
*Proper portfolio allocation to gold
*Comprehensive review of gold price manipulation, techniques, and proofs
*Motives, Players, Tools
*The end game is in view, what is it
Please enjoy with our compliments.
Sincerely,
Your Anglo Far-East Team
But the point is that he is extremely bullish on gold. He knows the manipulation will fail as it is always. I view him as an insider who is willing to speak out like Ron Paul, PCR, David Stockman, etc. There are very few of them. Most of the others are busy stealing wealth from people. I can sense his sense of urgency and try to rescue the victims. The FED+Treasury wants us to be fearful and get out of gold, which is the only safe haven we can get. In the end, people will be left with debt like those banana republic and the elites own everything.
I bet the investment portfolios of all those people really stink.
This interview dates from Sept 17th.
http://usawatchdog.com/weekly-news-wrap-up-9-26-14/
summarizes the last week.
I wish Rickards would not repeat the LIE that the US has 8,000 tonnes of gold.
May be because he knows it is not a lie. Just saying.
I would say it might be such convoluted and secretive thing even he does not know. If I am the treasury secretary and president, I would not tell anyone.
Lawrence, you are only being a good politician, tell the people what they want to here so you can get re-elected, that is job #1.
Yes, I will not want to appear the economy collapses on my watch
I listened several times in which Jim Rickards talked about US gold. It is quite out of box thinking. He considers whatever gold held in US the US gold, including foreign gold held in US. He feels that when time comes, US government will have no hesitation to confiscate the gold owned by foreign countries. Off course the lease contracts or ownership on gold is gone even someone else owns it. US can be Saudi Arabia of gold. Even I hate to see US so ruthless but international law is pretty much pirate rule anyway. As long as US can defend its borders, he can piss off everyone in the world including some of its citizens. If you look at it from this angle, as long as gold does not leave US, it is US gold. It is not a lie.
My best estimate is that there has been mined, 170,000 tonnes of gold.
Sure vast amounts are in jewelry and private holdings of bullion.
Rickard’s data are not based in reality. He completely ignores gold mined in the last few decades.
Otherwise his comments are valid.
I agree with Mr. Rickards that the individual investor should have at least 10% in gold but no more than 20% in gold. Unfortunately doom-and gloomers and fear-mongers wrongly recommend having most if not all your money in PMs and perhaps miners.
I think percentage should be a personal thing which highly depends on one’s tolerance. If people just treat gold as savings, they will have no problem to have a higher percentage in gold. It is like people used to save 20-40% of their pay in the old days. A lot of Jews still do this till not. The problem is that people treat gold as investment and hope it grows fast and fear it will crash. It is a totally wrong perception. Gold is saving not investment. Since we had gold standard before 1971, saving paper money and gold is same thing. But now it is totally different but people still feel bank account is saving so they throw saving concept out the window and say saving is bad. Why? It depends what you save. I would not treat iPhone as saving, same with fiat currency, both are utilities.
Off course gold stock is a totally defferent animal.
Different allocations are appropriate for different portfolios. A commodities heavy portfolio would obviously get away with less gold while a debt-heavy one should have more.
This is interesting:
http://www.bmgbullion.com/doc_bin/Ibbotson%20Executive%20Summary%20-%20BMG.pdf
I agree Matthew as long as ones portfolio does not have something like 50% or more in PMs and commodities. PMs and commodities should not be the main assets in a good diversified portfolio. Stocks, bonds, maybe Cd’s and money markets should be the core holdings at least equal with PMs and commodities. I am speaking more from the view point of a long-term investor, which most people are or should be, and not as a trader or as someone trying to time the market to, hopefully, increase return which also increases risk.
I will just say that the less knowledge or time an investor has, the more diversified he should be. In other words, most people should be diversified.
“Diversification is protection against ignorance, it makes little sense for those who know what they’re doing.” —Warren Buffett
Matthew,
I agree with your first sentence. As far as what Buffett said I do not completely agree. I diversify not because of ignorance but because of knowledge about risk tolerance and how to minimize risk while increasing returns in ones portfolio and about asset correlation. Buffett said “it makes little sense for those who know what they’re doing”. I would agree somewhat with that but unfortunately some people who do not diversify and think they know what they are doing really do not. When things do not go their way and they lose more money than they thought, they start getting angry and/or worried. It is easy for Buffett to make such a statement since he can afford to lose over half of his money if he is wrong. The vast majority of people can’t. And very few people have such a high level of risk tolerance to be able to handle a 50% lose.
I take it you do a good deal of long-term “market timing” when it comes to your investments. Nothing wrong with that if you spend the time and are knowledgeable, as you correctly stated, as long as you can handle the risk, which you probably can.
Yes, obviously, the right thing for most is diversification. No doubt about that. The funny thing about the topic is that anyone who ever asks if they should or should not be diversified, should be! No ifs ands or buts.
Gold Debate: Schiff, Rule, Auerback and Roche
With the exception of Rick Rule these guys have big mouths, and lackthe great minds to match.Not every day of the week do you here someone using the word saprophyte.
I will give Schiff some credit too.
I agree, Lawrence. He seems to bother a lot of people, but I’m not one of them.
I think he is common sense man. However this world does not play by common sense any more but in loner time his judgement does play out. I never listen to him for my portfolio allocation but like to see his view on the problems we are facing. Then I adjust my own strategy . His crash proof does reveal the ills of us economy .
Off course I like rick rule to be my investment advisor
I have to agree, and have never made a single investment based on Schiff’s views —or Rule’s, for that matter.
DITTO..Matthew…he bugs people because he nails it..haha!
His major problem is his straight-forwardness and lack of communication tactics even he is a strong debater. Anyone with small disagreement with him will be offended and turned away. But he is very sharp. I hope he get his penny from Art Laffer.
Ha ha! You remember that too. Peter: “I’ll bet you a lot more than a penny.”
Peter’s Laffing now!
Plenty of fresh Rickard interviews out there…. He had a new book to promote.
Very true.
Not sure anyone has done any statistics before making this assertion. I saw him a lot before he has any book. He is one of rare species who is accepted by both camps. So various broadcasts like him.
Rickards goes into detail on how and why the manipulation in gold is happening.