2018 – SDR World Currency Backed with Gold

Sprott Money's picture

 

 


Jim Rickards: 2018 – SDR World Currency Backed with Gold 

Posted with permission and written by Rory Hall, The Daily Coin (CLICK FOR ORIGINAL)

 

 

 

Gold – everlasting, beautiful, money.

This video, from the Financial Times is a perfect example of the miseducation, the conditioning, I’ll even say to go so far as brainwashing about gold that has taken place. A lot of things people think they know about gold are completely wrong. The important things you should know about gold are very much unknown to most people. ~Jim Rickards

For the past 100 plus years the Federal Reserve has conducted a campaign against the virtues of gold. First, in 1933 using the Office of the President, they stole our gold through Executive Order 6102.

After this rather unsuccessful effort the real campaign began. Sometime after World War II the word “gold” was, basically, eliminated from everyday language and conversation. Yes, people in the Western world, still discuss gold when the subject of jewelry is brought up, but people don’t really understand gold and why or how it functions as money. Make no mistake about it, gold is money even today. If gold is not money then explain to me why central banks, around the world, including the United States central bank, the privately owned, Federal Reserve stores physical gold and accounts for it, as an asset, on their accounting ledger? The cost of storing gold is no small expense, especially if you are talking about a storage facility like Fort Knox. To be 100% clear, gold is money, period.

Why is gold money? There are plenty of good reasons why gold is money. One of them is: what else could be money? You’re not going to want something that’s radioactive; you’re not going to want something that dissolves in water; you’re not going to want something that’s impossibly scarce, you want it to be scarce but not too scarce. You don’t want a gas that’ll go up in the sky. ~Jim Rickards

China has been promoting the ownership of Silver and Gold to it’s Citizens since September 2009. Silver is money and has been used as money longer gold. Why would China encourage their citizens to acquire physical silver and gold? What do the Chinese know that the U.S. does not? Well, both are money and the Chinese government understands the U.S. dollar will not be used outside the United States very much longer. Therefore, the citizens of China are being taught, by their government, to protect their wealth from a currency crisis. What has the United States government taught it’s citizens about wealth, savings or a currency crisis? Anyone? Anything?

We’re Being Herded Into Digital Pens to be Slaughtered with Negative Interest Rates ~Jim Rickards'

Let’s listen to former President, George W. Bush, teach the people of the United States how to handle money and the economy –

 

Yes, that’s right, the President is teaching us about the economy and how we should “go shopping more”. Spend, spend, spend. What ever happened to save, save, save? Anyone remember “a penny saved is a penny earned“? We never hear any wisdom about the economy, money or the virtues of saving. You do remember what a virtue is, right?

When I sat down to discuss the economy, gold and global events with Jim Rickards, Agora Financial, we peered behind the curtain to see what China and Russia are doing, individually and collectively.

There is a subject that is so far off the radar by the mainstream media, independent media and, basically any media in the West that Mr. Rickards was somewhat surprised when I ask him about it. The Shanghai Cooperation Organization (SCO) is one of the most important developments in the last fifty years. This plan, which encompasses over 50% of the global population and over 70% of the natural resources on this planet, has been completely overlooked, with few exceptions, for many years.

China and Russia sit at the head of this gigantic organization and the implications for the West are many and far reaching. The monetary infrastructure, that is already in place, has the capacity to make void all Western world banking, financial and economic activity. The strategic alliance the SCO represents has the exact same implications regarding geopolitical situations and war. Look at how Russia developed a plan, executed that plan and was able to cripple “ISIS” in five months. The United States and it’s allies have been unable to accomplish this goal in fifteen years! That’s a force to be reckoned with. What makes you think the monetary infrastructure that China and Russia have in place can’t accomplish the same goal on the “monetary battle ground”? While we continue ignoring the most significant monetary and strategic developments, in our lifetime, we are only fooling ourselves that tomorrow will function the same as today. Tomorrow is already here, we just haven’t awakened to hear the news.

 

Let’s listen in and allow Mr. Rickards to give the details on gold, the SCO and what this means to all of us in the coming years.

 

 

 

Please email with any questions about this article or precious metals HERE

 

 

 

Jim Rickards: 2018 – SDR World Currency Backed with Gold 

Posted with permission and written by Rory Hall, The Daily Coin (CLICK FOR ORIGINAL)

 

 

Rory Hall, Editor-in-Chief of The Daily Coin, has written over 700 articles and produced more than 200 videos about the precious metals market, economic and monetary policies as well as geopolitical events since 1987. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver and Silver Doctors, SGTReport, just to name a few. Rory has contributed daily to SGTReport since 2012. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Visit The Daily Coin website and The Daily Coin YouTube channels to enjoy original and some of the best economic, precious metals, geopolitical and preparedness news from around the world.

 

 


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ramgold2206's picture

its about gold,, it has always been about gold and it will always be about gold.... bit coin is just another derivative currency, effectively.

 

 

http://ramgold.ilp24.com/18968

dizzyfingers's picture

Blockchains...in 3,2,1...

GoldIsMoney's picture

Whatever money will be, as long as it is controlled by state organizations, we must end in a catastrophy sooner or later.

Von Mises was full right with:

"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.

 

That will not change. And another thing that will not change. The unproductive will strive to be the rulers, you don't have to satisfy customers if you own the force for surpressing anyone else.

fancyfree's picture

Last month Zerohedge suspended my right to log in and respond to their articles; it has taken me three browsers and multiple times to access this comment form.  Jim Rickards is a CIA mouthpiece, and so is Zerohedge. I am Overseer Mandate Trustee of the world's monetary gold reserves in a Trust called the Global Debt Facility, or TVM-LSM-666.    The simple fact is that the Board of Governors of the World Bank and IMF administer the Global Debt Facility, and that I am authorized to speak on behalf of the Board of Governors of the World Bank on matters concerning the Global Debt Facility.  https://s3.amazonaws.com/khudes/Twitter2.8.16.1.pdf .  We are not into collapse, and the Global Currency Reset to replace fractional fiat currencies with gold-filled national currencies and local currencies is going forward.  Gold-backed SDR's ( the One World Order's wet dream) is NOT HAPPENING.  Humanity does not consent.  As simple as that. 

GoldIsMoney's picture

If you say so the price we have to pay for men like you is a few million deaths every 50 - 100 years.

lynnybee's picture

i refuse to listen to Jim Rickards / Mr. CIA.    the fastest slickest talker i've ever heard.   besides, the IMF is bankrupt, so i read.   the IMF has no money, except for what they can extract from populations.  

 

CarpetShag's picture

The IMF can create any amount of SDRs they want in their computer. Rickards claims the Fed cannot expand its balance sheet further and will therefore hand over to the IMF, but has never answered arguments that balance sheets, leverage and asset base are completely irrelevant for any entity that can create infinite amounts of digital money at will.

lakecity55's picture

Russia defeated Daesh because they wanted to whack terrists' ass. The Atlanticists were using them to destabilize Syria, which is on the road to Tehran, which is on the road to destabilize Russia and put Atlanticists back in the drivers' seat.

You bet these CBs and Rockefeller/Rothschilds types want Gold because of its natural properties. But there is not enough to supply the current world population in coinage.

The SCO could engineer a gold-backed instrument mixed with oil, GDP, etc. If they do so, they will take over.

Just some rambling thoughts. But, the SCO could engineer a real money system unlike the debt-based notes issued by the Atlanticist countries.

CarpetShag's picture

Rickards is a slippery character. Notwithstanding the validity of his gold proposals, why would he allow the great unwashed to participate in this supposed secret accord and other "inside information"? He is by his own admission a paid consultant to the CIA and Pentagon, as reflected in his views on 9/11 in his books. And why peddle newsletters like "Strategic Intelligence" , which appears to be staffed by low- level minions, via Agora, an organization I wouldn't touch with a ten-foot pole? And his forecasting record is no better than random. Caveat emptor.

Grandad Grumps's picture

Why gold? They have no need for gold to make the SDR the global currency. They have the power of the police state and the threat of force to make anything they want the currency of the day.

lakecity55's picture

For us Serfs, yes, but between the great banking houses and nations, Au reigns supreme.

Grandad Grumps's picture

The currencies between the great houses and nations are slaves and blood. Gold is a decoration.

falak pema's picture

I don't know about gold backing.
It could be digitalized money. But will it be decentralized or centrally controlled?

We may move to central IMF plays and local blockchain regional rivals as two tier constructs in a hybrid world.

But in the current momentum of global centralization the world will be flooded with IMF printed SDRs under the aegis of a CB consortium around the IMF instrument.

I have been saying this all along.

The second tier of local money around blockchains can respond to the need of consumers not served by the global money chain.

Ckierst1's picture

Instead of a currency backed by gold, I suggest making money from, to include or to package gold - or silver.  I suppose this is too obvious, liberating and free-wheeling.  Byzantium suggests that it works just fine.  I hear minted coins are nice.  These metals are malleable a can thus be made into thin sheets and foils - gold leaf anyone?  Is a gram of gold affordable?

Bemused Observer's picture

Gold can be pounded into micro-thin sheets, and a strip inserted into each bill...just like is done now with those strips they put in our bills. A scanner can 'check' each bill for its presence, although it would be foolish for anyone to try and remove them. You'd need so many bills for that it would be ridiculous.

No need to mint actual coins, which wouldn't work because we don't have that much gold.

That would be a 'gold currency' that combines 'backing' with an actual physical presence, and would be do-able in our much larger world economy. The gold would also be recoverable when the bills were retired from circulation.

A gold currency doesn't require large amounts of gold, it just requires that the bills be uniform in the amounts contained in each. Gold has such malleability that this is very possible.

Also, consider this...as a currency with actual value, we wouldn't need to keep expanding the money supply, so eventually we might not need as many bills as we have now. Without that phony 'inflation', prices would remain stable, with a whiff of deflation, as would be more normal in an expanding economy. We'd have less 'money', but we'd all be wealthier.

Ckierst1's picture

Perhaps, but gold and silver coins look good, feel good, have real authority as good money and are readily verifiable for authenticity.  They ARE the real gold standard!  Gold and silver are readily subdivided.  There is no reason why smaller amounts can't be bedded in plastics and remain recognizable.  I wonder if they can be encrypted for optical scanning, as well, to query the coins, perhaps for provenance and authenticity - REAL smart hard money assets.  Is this useful?

Theonewhoknows's picture
Theonewhoknows (not verified) Apr 5, 2016 7:29 AM

In addition to this topic it is interesting to look at China's gold reserves and situation around it http://independenttrader.org/why-china-hides-their-gold-reserves.html

moman's picture

Bitcoin = biggest trap of all.

Global Observer's picture

There will be a 100% gold-backed world reserve currency, but it won't be the IMF's SDR. It will be a currency issued by the  New Development Bank (the BRICS Bank).

Stroke's picture

Bullshit article......What makes Jim so sure SDRs will be gold backed?

What if a country has no gold?

What if a country is rich in resources, but no gold?

What if a country is rich in skilled manpower but no gold?

What if a country has no debt, and no gold?

When does this countries "gold backed" SDR hand over it's gold in a debt crisis?

Another buy gold ar

Stroke's picture

Bullshit article......What makes Jim so sure SDRs will be gold backed?

What if a country has no gold?

What if a country is rich in resources, but no gold?

What if a country is rich in skilled manpower but no gold?

What if a country has no debt, and no gold?

When does this countries "gold backed" SDR hand over it's gold in a debt crisis?

Another buy gold article...bullshit

FinalEvent's picture

Bitcoin is gold on steroids. Period.

Gold is just a barbarian pet rock.

See any steam engines mounted in teslas?

jarana's picture

BTC is a decentralized 3rd-party-free notarization protocol easily implementable on standard-use Turing machines, very useful in free societies.

Gold is money, very useful in free societies.

Stop throwing bullshit out of your mouth.

northern vigor's picture

I watched a video two days ago of new steam engines being commercially produced. Small coiled engines with rotary pistons...instant steam pressure burning any type of liquid fuel, waste oil, or old cooking oil The engines had a closed system to catch the condensation steam and recycle the water. They are so efficient, they make Tesla's electric cars obsolete. 

 

My point?...As soon as you invest in some great technology like electric cars or bitcoin, someone else comes up with something better. You don't want to be the only guy on the street with a Tesla or Bitcoin when the grid shuts down, or it becomes obsolete. 

RogerMud's picture

sorry, they are apples and oranges (gold vs bitcoin). both useful in different ways.

gmak's picture

The whole point of having an asset-backed fiat is to avoid the "steroids". That's what creates the problem, when you can produce it out of thin air.  Don't you think that at some point, bitcoin will become an empty shell forgery of itself, once the elites have control? 

I continue to be astonished that someone would rather have something that can be forged and produced at will, rather than having something that is the result of production.

 

To create inflation in bitcoin, take 1 helium-cooled supercomputer that has seconds idle here and there and.... 

TVP's picture

Sounds like someone needs to catch up a bit....https://bitcoin.org/en/faq#how-are-bitcoins-created

Cryptocurrency cannot be conjured out of thin air - it cannot be created by fiat.  A finite amount of bitcoins exist.

 

Diet Coke and Floozies's picture

Depends on what is recharging the Tesla...

Global Observer's picture

 

Gold is just a barbarian pet rock.

Gold is a metal, not rock.

Bitcoin is gold on steroids.

It is and precisely why no government needs it nor will accept it.

Pinto Currency's picture

 

Two points

1) The SDR is not 'backed by gold'.

It is a bucket of manure plus some gold (money).

Only gold and silver are money.

2) What we see here is not a plan to avert catastrophe but for the IMF to consolidate power the next time there is a catastrophe.

And the Obama admin's Jack Lew is signing the warrant for instant hyperinflation.

 

Remember Kyle Bass and Geithner's comment "We'll just kill the dollar":

https://www.youtube.com/watch?v=_F7bM63ZfWQ