Jim Rickards: For God's Sake Listen! Take Your Money Out of These Banks Now!

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Jim Rickards: For God’s Sake LISTEN! Take Your Money OUT of THESE Banks NOW!

Jim Rickards, a prominent figure in the financial world and author of several books on economics and investing, has strong views on the role of gold and silver as precious metals for wealth preservation. He advocates for the importance of incorporating them into investment portfolios, especially in times of economic uncertainty and potential monetary system instability. 

Here’s a summary of Rickards’ views on precious metals, specifically gold and silver:

• Gold as a safe haven: Rickards considers gold an irreplaceable store of wealth and a potential standard for currency, particularly in times of global political instability and market volatility. He suggests that a portion of one’s investment portfolio should be allocated to physical gold as a hedge against potential financial crises and economic downturns.
• Potential for significant price increases: Rickards has made bold predictions for gold prices, stating that gold could potentially reach $23,000 or even $27,533 per ounce under certain economic conditions. These predictions are based on analyses related to potential scenarios like a return to a gold standard or a loss of confidence in fiat currencies.
• Role of silver: Rickards also advocates for silver, recognizing its dual nature as both a precious metal and an industrial commodity. He suggests that as confidence in central bank money potentially wanes, savers and investors may increasingly turn to physical gold and silver, returning to their historical roles as money. While gold and silver tend to move together, silver may lag behind gold during initial market rallies, but it can catch up and even outperform gold during later stages, particularly in periods of inflation or a weakening US dollar.
• Importance of owning physical gold and silver: Rickards strongly recommends owning physical gold and silver, such as coins and bullion bars, rather than just paper assets. This provides tangible ownership and a sense of security not reliant on financial institutions.
• Risks and storage: Rickards advises against storing physical gold in safe deposit boxes due to concerns about potential government confiscation. He emphasizes the need for secure storage methods.
• Books and resources: Rickards has authored several books where he expands on his views regarding precious metals and economic forecasting. Some of his notable works include “The New Case for Gold,” “The Death of Money,” and “Aftermath: Seven Secrets of Wealth Preservation in the Coming Chaos,” all of which delve into the role of gold in economic and financial systems. 

It’s important to note that while Rickards’ analysis and predictions are compelling, they are also speculative. Investing in precious metals, like any investment, carries risks. Potential investors should conduct thorough research and consider consulting with a qualified financial advisor before making any investment decisions.