Tuesday, September 21, 2010
Jim Rickards: The Dollar Will Collapse!
See, this is why I say that gold and silver are not investments. They are a means to maintain purchasing power. Gold and silver are precious metals that always maintain their value. During the Dark Ages of plagues and famine, people valued gold. For thousands of years, monarchs and emperors have desired gold. Gold and silver have never increased or decreased in value. These metals maintain their value and that's why people have always collected them.
In the last decade, the price of gold has soared, but what most people fail to realize is that the value of gold hasn't increased, the value of the dollar has decreased. In fact, the only time gold increases in value is when it becomes scarce. It now takes over 1250 dollars to acquire one ounce of gold. Jim Rickards, OMNIS Senior Managing Director, appeared on CNBC to warn the public of the U.S. Dollars inevitable collapse.
"I don't think gold is going up. I think gold is fixed. What we're seeing is the collapse of the dollar."