Central Banks May Have to Resort to The Gold Standard to Restore Confidence

By Graham Rapier and Sara Silverstein Jim Rickards has seen first hand the bailout of hedge funds and has testified before congress about the 2008 financial crisis. He says another recession could hit before the Federal Reserve is done unwinding the processes put in places to save us from the crisis a decade ago. Rickards expects gold to go to $10,000 an ounce as some central banks may have to resort to the gold standard to restore confidence in the markets. Jim Rickards, the author of "Currency Wars," "The Death of Money," and "The New Case for Gold," and most recently "The Road to Ruin," is no stranger to financial meltdowns. As general counsel for the hedge fund Long-Term Capital Management (LTCM), he had a front row seat as dozens of Wall Street institutions worked to bailout the firm with a $3.6 billion recapitalization. Instead of using traditional macroeconomic models, Rickards prefers to borrow one from phy...

from GoldBroker.com https://www.goldbroker.com/news/central-banks-may-have-resort-gold-standard-restore-confidence-1239