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Jim Rickards: Gold price could double overnight in U.S. dollar crisis

Posted on 09 October 2013

Before proceeding, please be advised that the statement in the title is not a forecast nor an expectation. The potential for the gold price to double overnight is real and existing, which is not the same as sure.
In a major US dollar devaluation crisis, which would occur if the US would fail to raise the debt ceiling on Thursday October 17th, there should be a significant impact on the gold price. Jim Rickards wrote about this in his book ‘Currency Wars: The Making of the Next Global Crisis’ in which he “envisages a series of ‘black swan’ events that trigger a loss of confidence in the US dollar precipitating a rush to get out of the greenback.”……………………………………….Full Article: Source


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VRS - who has written 36685 posts on Opalesque Commodities Briefing.


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