+49 30 6521 24928 (GER / ENG) support@bar9.com

Gold Bug Profile: James Rickards

JP Buntinx
May 14, 2020

As the price per ounce gold has risen in recent years, so have the number of people who expect a bullish continuation of this trend. James Rickards, a well-known lawyer, is very passionate about precious metals, including gold and silver.

Who is James Rickards?

Most people may know the name James Rickards, as he is an American lawyer and media commentator. More often than not, his opinion is asked on matters of finance and precious metals. There are several reasons as to why his opinions are inquired about so often.

Rickards holds an M.A. in international economics, and an LL.M in taxation, among other degrees. With a clear passion for everything pertaining to the financial industry and the different asset classes, it was a matter of time until he started delving deeper into these particular markets.

James Rickards the Author

All of the knowledge gathered over the years has resulted in some intriguing personal developments for James Rickards. Back in 2009, he claimed that the US Dollar would face imminent hyperinflation. Moreover, the greenback was, in his opinion, vulnerable to attack by foreign governments as they continued to accumulate gold. While this doom scenario hasn’t come to pass just yet, the comments made 11 years ago still remain valid today. 

Two years later, Rickards published his first book. Titled “Currency Wars: The making of the Next Global Crisis“, it paints a very interesting, albeit potentially bleak outlook for the current monetary system. In the book, it is mentioned how the US continues to face threats to its national security, including clandestine gold purchases by China and Russia, as well as wealthy sovereign individuals with their own agenda. 

Rickards also believes that the Federal Reserve is playing the greatest gamble in the history of finance. Printing money to fuel economic growth is not a viable long-term approach that anyone can keep exploring. Even today, stimulus packages are introduced left, right, and center, seemingly without considering the long-term effects of this approach.

Over the years, Rickards authored another five books, all of which pertain to finance, gold, and wealth. Especially his “The New Case for Gold“, released in 2016, is a book that is of great importance. Based on these writings alone, it is seemingly a matter of time until the current monetary system collapses completely. 

James Rickards Quotes

Following a storied career – both in terms of being a lawyer and media person, as well as an author of numerous books – there have been a fair few quotes by James Rickards people may want to pay attention to.  

The first one that draws a lot of interest pertains to owning gold:

“When you own gold you’re fighting every central bank in the world. That’s because gold is a currency that competes with government currencies and has a powerful influence on interest rates and the price of government bonds. And that’s why central banks long have tried to suppress the price of gold. Gold is the ticket out of the central banking system, the escape from coercive central bank and government power.”

In those sentences is a lot of valuable information. Gold is a currency that is disliked by central banks, primarily because they struggle to control it in a conceivable manner. Moreover, it is an asset that doesn’t play by the traditional rules either. 

When discussing the topic of central banks further, Rickards stated:

“The problem right now is that central banks have not normalized their balance sheet since 2009. They’re trying, but it’s not even close. If we had another crisis tomorrow, and you had to do QE4 and QE5, how could you do that when you’re already at $4 trillion? They might have to turn to the IMF or SDR or to Gold. Then, if you go back to the gold standard, you have to get the price right. People say there’s not enough gold to support a gold standard. That’s nonsense. There’s always enough gold, it’s just a question of price.”

Especially with the coronavirus pandemic, it will be interesting to see how central banks handle the situation moving forward.  There are plenty of concerns, and very few viable solutions being offered.  

Easily open your Swiss tax free gold vault in under 6 minutes

It’s Free to open a Swiss vaulting account, you can buy and sell gold directly to it instantly.

0 Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Gold Bug Profile: Shayne McGuire

Back in 2008, Shayne McGuire was already expecting big things for gold. This statement came on the heels of the publication of his “Buy Gold Now” book, which hinted at an imminent collapse of traditional finance.

Analyst Outlines how Silver is a Seriously Undervalued Asset Right now

Everything comes down to how things will evolve over the coming months. If the demand will pick up again, and the supply remains very limited, things may begin to shift in a few months from now.

The Many Use Cases for Silver Part II: Engines, Hygiene, Mirrors and Windows, Dental Fillings

Throughout the centuries, silver has found a use in many different segments and industries. Some of these are still viable today, whereas others have been abandoned a while ago.

Gold Bug Profile: Thomas Fischer

Over the years, Fischer began paying closer attention to the precious metals markets. This has been apparent through the press picking up some of his publications.

The Silent Thief: How to Protect Savings from Inflation

How can you protect your savings from inflation? Horror stories of the prices of bread and milk spinning out of control have fixed the concept of inflation firmly in the public imagination. These hark back to the worst cases, like in the Weimar Republic where shoppers...

Best Practices When Using Mobile Payments During the Novel Coronavirus Outbreak

Solutions such as Apple Pay, Google Pay, Samsung Pay, and WeChat Pay are all perfectly usable during these troubling times.

Silver Bug Profile: David Morgan

Morgan prefers educating the masses on how a sound financial system would work. What we have in place as of right now is the exact opposite of a sound system

Why 2020 may be the Year of Silver Instead of Gold

Another contributing factor to the sudden popularity of silver is the gold-silver ratio. Despite this correlation hitting a high in favor of gold earlier this year, the current momentum looks very different.

Silver Bug Profile: Ralph Aldis

Ralph Aldis has also been named twice as a US Metals and Mining “TopGun”. This title is “awarded” by Brendan Wood International every single year. He is also the Best Americas Based Fund manager in 2016, awarded by Mining Journal.

Gold Bug Profile: Ben Davies

Ben Davies is the co-founder and CEO of Hinde Capital. Founding this company came after building up over a dozen years of experience in financial and commodity markets.

Gold Bug Profile: Porter Stansberry

Porter Stansberry has a very rich history. He too got involved in the financial industry at one point, and seemingly never looked back.

Silver Bug Profile: Adam Hamilton

Most mining operations have very mixed – and primarily disappointing – results in Q1. That has not affected the price of silver in a negative manner.

Gold bug Profile: Egon von Greyerz

In fact, von Greyerz was confident that allocating up to 50% of one’s portfolio to gold and silver could pay off handsomely. He certainly got that sentiment right

Which Silver Exchange-Traded Products are There?

The most obvious form of silver exchange-traded products are those that are physically backed by actual silver, as they provide the most security.

Silver Bug Profile: Jeff Clark

Over the past decade and a half, Clark has put the majority of his focus on analyzing the precious metals mining industry. BIG GOLD by Casey Research, a world-renowned publication, has been one of his outlets.

5 Reasons why Investing in Physical Gold is Always Worthwhile

Regardless of buying digital or physical gold, this precious metal is always worthwhile to investors. It is one of the few markets that offers key advantages one will rarely find in other assets.

Can The Wim Hof Method Beat the Corona Virus?

I have been following the Corona Virus or Covid-19 since the start of January when just a few reports started to come out of China. For the last two months, I have watched it escape the Chinese control grid to the point where it has now caused more reported cases...

Silver Bug Profile: Peter Leeds

Similar to his opinion on gold, Leeds is very hopeful when it comes to silver. In fact, he considers it to be the top investment for 2020 and possibly beyond,

Gold Bug Profile: Crispin Odey

Over the years, the name Crispin Odey was often named in association with gold and other precious metals. Particularly during the coronavirus crisis, Odey expected the value of gold to move up again.

Gold Bug Profile: Richard Russell

Back in 1960, Russell was the first to recommend gold stocks as an investment option, an assessment that has certainly put a bigger spotlight on that particular industry.

Translate Blog Post

Article Categories

Blog Stats

  • 82,094 hits

Follow the CEO on Twitter

%d bloggers like this: