Tuesday, November 08, 2016

Jim Rickards*: 
The Federal Reserve Is Tapped Out 
& The End Result Is Ice-Nine For Gold
Palisade Radio .. The Federal Reserve and IMF have both wrongly forecast growth & inflation .. The economists who run those organizations are not scientists, but dogmatists & ideologues who let preconceived notions & political preferences hinder their objective analysis. In his new book The Road to Ruin: The Global Elites' Secret Plan for the Next Financial Crisis, Rickards shows some specific examples of how the scientific methods could work .. FED's balance sheets are stretched, and they won't be able to bailout the world. Jim likens this to 'ice-nine', which is a fictional material from Kurt Vonnegut's novel Cat's Cradle. It freezes water, if put in a body of water, it could spread & freeze all water around the world .. Rickards believes the coming financial ice-nine will lock down the system.. freezing bank accounts, & closing banks & stock exchanges among other things. This will buy time while the IMF works out how to print out & distribute the trillions in SDRs to reliquify the world- which may take 3-6 months or longer. Gold will also suffer as exchanges will halt, trading contracts will be terminated, & counterparties will lose out on price appreciation & access to physical gold .. 29 minutes

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