"There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved."
- Ludwig von Mises

Thursday, November 11, 2010

Jim Rickards on the G20 Showdown

If there is one analyst that I tend to agree with the most, it is Jim Rickards.  He was on CNBC today commenting on the G20.  He comments on Geithner's "strong dollar" policy, the ongoing currency war, the lack of global growth - or at least the misguided goal of redistributing that growth through currency devaluation, and the lack of G20 coverage on the sovereign debt crisis and the price of gold.

His opinion on the future of the dollar varies by the policies that are being implemented.  He is not optimistic though, judging by current policies.  He also makes a case for $5,000 to $7,000 an ounce gold.

No comments: