Gold and Silver Will Protect From Coming Financial Crash â Rickards

Gold and silver coins will protect from the coming financial crash â James Rickards, author of The Road to RuinÂ told Sean O’Rourke in a must listen to RTE Radio interview this week.

Rickards is theÂ best selling author on finance and money and advises the US intelligence community on international economics and financial threats.

His advice to people with savings or investments to protect from the coming crash? Buy gold and silver coins.

âFor savers and investors at any level, modest orÂ wealthier â put 10% of your invest-able assets in physical gold or silver, for smaller amounts, silver might do very well.âÂ Â

âIt’s the future of moneyâ¦ Here is why . First of all it is non-digital. Everyone thinks they have money; what they have are electrons in banksâ¦â You can have confiscation, negative interest rates, bank closures.Â

If you have physical gold you are outside of the digital system â that money cannot be frozen by the government. It cannot be hacked by Vladimir Putinâ¦â

âEven if you have â¬10,000 (euros), out a thousand euros buy one ounce of gold put it in a safe place. If the banks are shut you will have a valuable asset. Or buy 50 ounces of silver â thats also about â¬1,000. 50 ounces of silver coins, one ounce coins in a safe place.

You will have something of value, even if the system collapses or not. â

Other key points made in interview:

âFinancial Crashes are like earthquakes: we know that they are coming, but we know not the day or the hour. The next one is close and is likely to be severe, even epochal.âÂ

âIn 1998, Wall Street bailed out the hedge funds. In 2008, the central banks bailed out Wall Street. In 2018 â if not sooner â who’s going to bail out the central banks?â

Financial crises are cyclical and the next one is close. Not only that, but global elites have a secret plan for the next financial crisis.

It was decided at the G20 meeting in Australia in 2014 that there would be no more bail-outs. Instead, there would be bail-ins: when a bank is in distress, the rescue money comes from the stakeholders including depositors and savers.

âSo depositors’ money is at risk, bondholders can take haircuts, stockholders can see their stock go to zero. That’s the new template.â

And this new template means that when the next crisis comes, the whole financial system will be shut down while the rescue is organised. People won’t be able to get their money from banks, they won’t be able to sell their shares. This is pretty scary stuff.

Rickards predicted that Donald Trump would be president and he says that Trump is using the Ronald Reagan playbook to try to boost the US economy, but it won’t work because the world is too different today from the way it was in the 1980s.

âReagan had a lot of tailwinds: inflation had to come down, interest rates had to come down. He had fiscal space to run up the debt. Trump has headwinds.â

There’s a war going on between national leaders and the heads of major corporations, according to Rickards, and corporation tax will play a major part in the struggle.

âIn a financial panic, everyone wants their money backâ¦ People say, oh I’ve money in stocks, money in bonds. No you don’t, you have stocks and bonds, but that’s not money. You have to sell them to get your money.â

Rickards’ distressing vision has happened before, he says. In 1933, President Roosevelt closed every bank in America. It’s also happened recently in Cyprus, Greece and in India today.

âIt’s the future of moneyâ¦ It’s non-digital. Everyone thinks they have money; what they have are electrons in banksâ¦â

Listen to Rickards Interview Here

Gold and Silver Bullion â News andÂ Commentary

Gold rises from 10-month lows, heads for fourth consecutive weekly drop (LiveMint.com)

Fed may face unnerving shake-up under Trump administration (Reuters.com)

US Construction Spending up 0.5 Percent in October (GO.com)

Asian Shares Drop as Trump Effect Fades (WSJ.com)

China gold premiums hold near 3-year high (Reuters.com)