Name: Finance Guru James Rickards Wants You to Invest in Gold
Uploaded: 2016-04-07
Duration: 2 min 31 s
Description: It’s a hedge against the dollar.

So you mention that Putin has this team of [ UNKNOWN ] over there. so with the release of these Panama papers that came out. It gives them even more incentive to say, maybe wipe out some financial assets. That's right man, apparently the Panama papers [ UNKNOWN ] to the off shore vehicles and the phony names and all of that. And I have been Involved in hedgefund over decades. Now, I've just set up my share of came corporations for totally legal. How legally? It's all legal. And they're very irreparable law firms and whatnot. But I'm very familiar with offshore structures, etc, etc. Some of that is through the legal paper chase. But behind it, yes. There are real assets, money is being moved around. By the way, the U. S. sees all of it, if it's in dollars, we control federal. You can't move dollars Through the wire system without it going through a channel that the Treasury Department and the Fed control. So that's a little bit risky. But the one thing you can't trace is physical vaults. So if you've got it in a vault, there's a nice vault in Dubai. There are other vaults around the world. A big one out at JFK. All the gold in the world, or most of it, is in Relatively small number of places, but physical gold doesn't have to go through the wire system, can't be traced, can't be hacked, so it has some advantages stuff for the bad guys. Of course, I recommend it for the good guys though. That is a new argument, that in this world everyone is worried about cyber- security. Right. You can't hack gold. We weren't talking about that in the 90s even in the early 21st century. We weren't talking about hacking gold but the fact is you can hack it. So that's speaks the argument that an an investor you should be owning physical gold as opposed to paper, ETFs or gold funded. ETFs, gold funds, lendably market association contracts, comax features. They were all paper goaled. Emphasize the word paper. Paper goal is an oxymoron. It's really all paper. The point is, when you most want your goal, when you most want your price exposure, all those contracts are gonna be terminated. Cuz when you call up JP Morgan and say, I wanna buy $ 1 million worth of gold. They'll say, fine, send me the million. Here's your contract. You sign it and send it in. What you get is called un- allocated gold. That means they had one ton of gold, they sell it a hundred times over. No one has physical title to specific gold. Right. So now, a hundred people show up at once and say give me my gold. First guy might get his gold, the other 99, there's a forced [ INAUDIBLE ] clause, early termination clause. I'm enough of a geek I write the contracts. You're gonna get terminated. You're gonna get a check For the close of business yesterday, they're not gonna steal your money. But what you want is today it's gone up $ 200, tomorrow $ 300. When you most want your gold, your contract is gonna be terminated and so you're not gonna get the protection you want. The only way to do that is with physical gold. [ BLANK_AUDIO ]