“The U.S. is the Saudi Arabia of Gold”

13 Responses to “The U.S. is the Saudi Arabia of Gold”

1. Mike/Liverpool | October 16, 2010 at 3:09 pm |

   TOB
   When?

2. Iain L/pool | October 16, 2010 at 3:37 pm |

   Hmmm. So they reckon they are Gold super power. How does he know the USA actually has all this Gold. When did they audit Fort Knox ? He seems to suggest America is in the strongest position. Heads they win, tails we lose. Fiat or Gold, they dont care, its just an experiment !!!!

3. ROVSKI | October 16, 2010 at 3:40 pm |

   Who would trust a US backed gold note with their history of fraud. Countries would only allow a transfer a real goods with the tranfer of real gold. So it would have to trade its real gold for commodities and goods, it would spend its gold quickly with its dependence on oil imports. All the gold would end up at the commodities nations as they swapped their oil/coal/uranium for gold. With the gold standard you can only spend your money once. There would be no need to recycle the petro gold as they do the petro dollar and wealth would leave the states again unless it had something to trade back. That is the beauty of a gold standard it keeps the flow of goods between countries in balance. I am sure the German wouldn’t be happy about sending BMWs and Mercedes and factory equipment to America to get back the gold America failed to give back after the Germans leased it to them. American would need the German factory equipment to become a manufacturing nation again. Europe wouldnt want the Monasto products masquerading as food. Once it spent its gold what would the US trade back? Fantastic insight from Jim Rickards as always but who would trust a note or digital representative for gold if they stole gold from the countries silly enough to trust their gold holding in America? IMHO. Please comment in any obvious flaws in my logic.

4. ROVSKI | October 16, 2010 at 3:46 pm |

   Countries with trade surpluses would eventually own all the gold. Americas standard of living would drop to what it can actually produce and trade. That wouldn’t make them a winner for long…..

5. ROVSKI | October 16, 2010 at 4:12 pm |

   Jim Richards says America could be a gold superpower by not paying its debts with anything real and taking other peoples gold. So if it cheated and stole it would be the money superpower again, so same game new currency. What Jim suggests the US does/ could do is repugnant on so many levels, he describes it so clinically.
   Why not leverage its nuclear arsenal and get protection money, pay me a % of what you make, mine or grow or we nuke you, would be more transparent and honest.

6. gr8mikey | October 16, 2010 at 4:13 pm |

   Rickards seems awfully sure that the U.S. gov still has 8000 tons of gold. LOL boy is he in for a big surprise. Tell us Jim why hasn’t there been a proper audit of the nations gold since the Eisenhower administration. If Ron Paul doesn’t get his gold audit, that will tell you all you need to know.

7. Poote | October 16, 2010 at 4:23 pm |

   How much Au does the US have?
   Who can ever know.
   The criminals in charge are never going to allow an honest open audit .
   The People are watching dancing with the stars.

8. maxkeiser | October 16, 2010 at 4:25 pm |

   Mike/Liverspot

   I can imagine you in a room with a naked and willing Julia Roberts and you complaining that she’s got a mole on her back.

   Are you insane?

9. ROVSKI | October 16, 2010 at 4:26 pm |

   I’m sure China would not agree to not being paid back for their loans. They dont need to buy anything in the US, they could simply swap their debts for all the American factories in China, Boeing, Ford,Rebook,Nike,Intel etc etc. America has already transferred its wealth creating assets to China already. Check mate. Hahahahahahahahahahahahahahahahahahahahaha.
   USA next Saudi Arabia of gold my arse.

10. David | October 16, 2010 at 4:26 pm |

    Gold will swiftly go down if they do sell, 8000 coupled with more than 6000 tonnes of surplus unsold above ground at the moment, well where will the demand come from? Also predictions of 1000′s of tonnes of surplus in the coming year.

11. ThunderPreacher | October 16, 2010 at 6:55 pm |

    I didn’t know you can run trucks, cars, airplanes and what not on gold. Interesting. I do understand the short term interest for gold but now I think I understand the long term interest. You can actually do something else than molding it in shapes and store or show it!

12. Tom | October 16, 2010 at 7:06 pm |

    @ROVSKI

    We steal the gold, give it back for stuff, kick their ass and take it back…..lather …rinse…repeat

13. Marc Authier | October 16, 2010 at 10:06 pm |

    Meanwhile the European, these godamn fuckin assholes, were furiously selling their gold. Europe deserves to be denutted.