Jim Rickards On Storing Gold: ‘Don’t Put It In The Bank’

American portfolio manager, attorney, economist, and best-selling author James Rickards was recently interviewed by the London-based Tip TV Finance show. Rickards answered questions about a number of topics, including the next financial crisis and how to prepare for it. The editor of the financial newsletter Jim Rickards’ Strategic Intelligence believes physical gold should be part of preparations. He told listeners:

Keep away from the paper contracts. Get physical gold. Put it in a safe place. Don’t put it in the bank. I spent a lot of time in Switzerland. I visited… when I go to Switzerland I don’t spend much time with the banks, I spend it with secure logistics operators, vault operators, refineries- the people that actually handle the physical gold. They see gold coming out of Deutsche Bank, Credit Suisse, UBS, and others, going into Loomis and the private vault operators. That does not change the total supply of gold, but it changes the floating supply. Once you take it out of the banks there’s less available to prop up this paper gold market. The banks will probably be closed, at least temporarily. You won’t be able to get your gold

(Editor’s note: Bold added for emphasis)

“Brexit is a good separation; Scexit could be a reality- James Rickards”
(Gold discussion starts at 10:15)
YouTube Video

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on information found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

Rickards’ latest book…


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