Jim Rickards: We’re Heading for War with North Korea

Click on the picture for the Bloomberg video interview.

 

Speaking with Bloomberg’s Betty Liu on gold, the geopolitical threat of North Korea and what to expect from the Federal Reserve financial expert Jim Rickards provided what his outlook shows for the months ahead.

The Bloomberg host began by asking Rickards why, with no current inflationary problems seen by most investors, he believed that gold was due for a major boom. The Strategic Intelligence editor started, “The reason in the first half [of the year] about 7.8% against enormous headwinds. The Fed has raised rates in December, March and again in June. [Now] we’re seeing disinflation, a slowing economy, a declining labor force. Everything looks like a recession and yet gold went up almost 8% in that environment. As we go forward, the Fed will always be the last to know.

Jim Rickards is the editor of Strategic Intelligence and is the New York Times best-selling author of The Road to Ruin. Rickards’ worked on Wall Street for decades and has advised the U.S intelligence community on international finance, trade and financial warfare.

“The other factor facing gold is a geopolitical one. We’re heading for war with North Korea. That’s pretty obvious at this point. The market is not quite prepared. The U.S National Security Advisor General, H.R McMaster along with the Secretary of Defense, General Mattis have both given very clear indications on this. They’ve dispatched two carrier task force groups.”

“In April, while at Mar A Lago, President Trump and President Xi met. [While there] President Trump asked for President Xi’s help with North Korea noting that he would lay off calling China a currency manipulator. It seemed as though President Xi indicated he needed time and may have been given 100 days from that meeting to deal with North Korea.”

It is worth noting that following Rickards’ statement on Bloomberg, he was met with skepticism on his bold claim for North Korean conflict. However, only hours after the interview North Korea fired an intercontinental ballistic missile (ICBM). What that means is that the rocket that was tested had a range of at least 3,400 miles. The US then responded with its own show of military force on the Korean peninsula while working jointly with South Korean military forces.

Full article: Jim Rickards: We’re Heading for War with North Korea (The Daily Reckoning)

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