{"id":336,"date":"2010-07-21T11:37:52","date_gmt":"2010-07-21T18:37:52","guid":{"rendered":"http:\/\/goldcoinsrare.com\/?p=336"},"modified":"2010-07-21T11:37:52","modified_gmt":"2010-07-21T18:37:52","slug":"interview-with-jim-rickards-on-itm-trading-website","status":"publish","type":"post","link":"https:\/\/www.itmtrading.com\/blog\/interview-with-jim-rickards-on-itm-trading-website\/","title":{"rendered":"Interview with Jim Rickards on ITM Trading Website"},"content":{"rendered":"

In this 11 minute interview with Jim Rickards, Senior Managing Director for Market Intelligence at Omnis, Inc. and President of ITM Trading Inc a precious metals dealer in Arizona, Mr. Rickards reveals how he comes up with his prediction of gold pricing<\/a> reaching as high $11,000 per ounce.<\/p>\n

Mr. Rickards answers the first question by saying that he prefers a strong dollar<\/a> with gold backing but to him it is clear that the government is going in the opposite direction by cheapening the value of the dollar through money printing.\u00c2\u00a0 Therefore it makes sense to look for alternatives to the dollar, but when you begin to look around for an alternative nothing looks good except for gold.\u00c2\u00a0 Would you want Euros or other fiat currencies<\/a>?\u00c2\u00a0 With everything that is going on in the world economic picture I think not.\u00c2\u00a0<\/p>\n

When you look at supply and demand fundamentals on gold and then look at gold from the perspective of macroeconomic view, gold becomes the only real option, thus Mr. Rickards believes at one point gold will become the only acceptable form of money.<\/p>\n

When people say to Mr. Rickards that there isn\u00e2\u20ac\u2122t enough gold in US to back the dollar, he simply states that it is not a function of supply, but at what price.\u00c2\u00a0 If gold was set at $1,200 per ounce that would create deflation, so you have to come up with a price that creates balance.<\/p>\n

Mr. Rickards says that he believes gold will go to $3,000 to $7,000 per ounce using his calculations.\u00c2\u00a0 He says \u00e2\u20ac\u0153it is a simple 8th grade math equation\u00e2\u20ac\u009d using the amount of gold in the US hoard and the amount of money in the system and you can come up with the price.\u00c2\u00a0 He did note that the current range represents today\u00e2\u20ac\u2122s money supply, further stimulus (money printing) will increase the gold price range.\u00c2\u00a0 The reason for the range is this: it depends on which money supply figure that you use (M0, M1, M3).\u00c2\u00a0 Mr. Rickards says that if you include the global gold and money supplies that the figure can get as high as $11,000 per ounce.<\/p>\n

Jim Rickards is a very well respected economist\/analyst who appears on CNBC on a regular basis.\u00c2\u00a0 I highly recommend that you watch this interview at www.itmtrading.com<\/a>, you will find it in the right-hand navigation panel.<\/p>\n","protected":false},"excerpt":{"rendered":"

In this 11 minute interview with Jim Rickards, Senior Managing Director for Market Intelligence at Omnis, Inc. and President of ITM […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1207],"tags":[1421,69,73,89],"class_list":["post-336","post","type-post","status-publish","format-standard","hentry","category-blog","tag-gold-prices","tag-gold-standard","tag-gold-values","tag-itm-trading"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/336","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/comments?post=336"}],"version-history":[{"count":1,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/336\/revisions"}],"predecessor-version":[{"id":10823,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/336\/revisions\/10823"}],"wp:attachment":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media?parent=336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/categories?post=336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/tags?post=336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}