The New Case for Gold
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They say John Maynard Keynes called gold a "barbarous relic."
They say there isnβt enough gold to support finance and commerce.
They say the gold supply canβt increase fast enough to support world growth.
Theyβre wrong.
In this bold manifesto, bestselling author and ecoΒnomic commentator James Rickards steps forward to defend goldβas both an irreplaceable store of wealth and a standard for currency.
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Global political instability and market volatility are on the rise. Gold, always a prudent asset to own, has become the single most important wealth preservaΒtion tool for banks and individuals alike. Rickards draws on historical case studies, monetary theory, and personal experience as an investor to argue that:
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β’ The next financial collapse will be exponentially bigger than the panic of 2008.Β
β’ The time will come, sooner rather than later, when there will be panic buying and only central banks, hedge funds, and other big players will be able to buy any gold at all.
β’ Itβs not too late to prepare ourselves as a nation: thereβs always enough gold for a gold standard if we specify a stable, nondeflationary price.
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Providing clear instructions on how much gold to buy and where to store it, the short, provocative arguΒment in this book will change the way you look at this βbarbarous relicβ forever.
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James RickardsΒ is the Editor ofΒ Strategic IntelligenceΒ a financial newsletter. He isΒ The New York TimesΒ bestselling author ofΒ The New Great DepressionΒ (2020),Β AftermathΒ (2019),Β The Road to RuinΒ (2016),Β TheΒ New Case for GoldΒ (2016),Β The Death of MoneyΒ (2014), andΒ Currency WarsΒ (2011) from Penguin Random House. He is an investment advisor, lawyer, inventor, and economist, and has held senior positions at Citibank, Long-Term Capital Management, and Caxton Associates. In 1998, he was the principal negotiator of the rescue of LTCM sponsored by the Federal Reserve. His clients include institutional investors and government directorates. He is an op-ed contributor to theΒ Financial Times,Β Evening Standard,Β TheΒ Telegraph,Β New York Times, andΒ Washington Post, and has been interviewed by BBC, CNN, NPR, CSPAN, CNBC, Bloomberg, Fox, andΒ The Wall Street Journal.Β Mr. Rickards is a guest lecturer in globalization and finance at The Johns Hopkins University, Georgetown University, Trinity College Dublin, The Kellogg School at Northwestern, the U.S. Army War College and the School of Advanced International Studies. He has presented papers on risk at Singularity University, the Applied Physics Laboratory, and the Los Alamos National Laboratory. He is an advisor on capital markets to the U.S. intelligence community, and the Office of the Secretary of Defense, and is on the Advisory Board of the FDD Center on Economic and Financial Power in Washington DC. Mr. Rickards holds an LL.M. (Taxation) from the NYU School of Law; a J.D. from the University of Pennsylvania Law School; an M.A. in international economics from SAIS, and a B.A. (with honors) from Johns Hopkins. He lives in New Hampshire.
Follow @JamesGRickards.
