"It Will ALL Collapse..." - Jim Rickards | Gold Silver Price

本站添加: 2026-05-15

[00:00:00]So, I think that again legally it's possible, politically it could it wouldn't surprise me to see the Trump administration do it.

[00:00:10]It's it's just an accounting entry. It would put a lot of money in the Treasury's bank account. Those are all important things. By itself, it doesn't change the fundamentals in the world price of gold, but it could have a psychological effect. Well, I want to unpack a couple of things there.

[00:00:23]Firstly, would they have to market to current market prices or could you value it higher?

[00:00:31]Well, higher is interesting. You could definitely value it lower. You could value it a thousand or two thousand or anywhere in between.

[00:00:38]Could you value it higher? The accountants might object. The thing is if you market to market, what the accountant object to is saying hey, that is the price of gold. Now, you could do it multiple times and this kind of gets to your point. If you did it, let's just say five thousand dollars an ounce today and then a year from now gold is ten thousand dollars an ounce, which is what we've been talking about, what I've been projecting, [music] could you do it again for another five thousand dollars? The answer to that is yes. So, so there's not necessarily a cap, but it's not clear that I'm not sure the accountants would let the Fed market above the market, but if you say could you do it two or three times and follow the market, the answer is yes.

[00:01:18]If this were to happen and you're saying that it would not surprise you if the Trump administration does that, what would be the percentage chance that you would give [music] to this happening under this Trump administration? Oh, probably over 50%. I don't you know, not 90, but you know, 60, 65%. Yeah, I mean they're they're taking it seriously.

[00:01:38]Scott Bessent, our Treasury Secretary is you know, the very seasoned hedge fund trader, used to work for George Soros and other other hedge funds.

[00:01:48]I'm I'm pretty sure J. Powell would not do it, but Kevin Warsh might. Kevin Warsh seems more of a pragmatist. I'm not saying he would be banging the table, but he would certainly go along with it.

[00:01:59]He wouldn't really have much choice but to go along with it because the [music] Treasury does own the gold. The Treasury does have that account and they and it's been done before and it was at the initiative of the Treasury. So, I think if the Treasury made that phone call that Fed would have no choice but to go along.

[00:02:15]And yeah, I would say well over 50%. Most of the world already does this. I mean, we're [music] The United States is the only one saying gold is $42 an ounce. As I say, it's an it's an old it's historic cost accounting if you want to be technical, but most countries when they buy new gold, they put it in their reserves at the price they price they paid or they mark it to market or they do both. So, this is not a shocker to the rest of the world because it's what they already do.

[00:02:42]It's it's sort of common sense. So, in a sense, the US would just be catching up, but but of course, the US is the largest single holder of gold. If you ask me what the what the effect is kind of psychologically, you know, in terms of the popular media, >> [music] >> again, it's just an accounting entry. It does put money in the Treasury's account, but what it does, it [music] sends a signal to the American people and to the world that the US cares about gold.

[00:03:09]>> [music] >> And, you know, years ago, Ben Bernanke was asked in an interview, you know, about gold and you know, what why you know, why if gold's unimportant, why does the US have 8,000 plus metric tons?

[00:03:22]And his answer was he said it's a tradition. He he dismissed it. Now, Bernanke is smarter than that. He knows there's a lot more to it, of course.

[00:03:30]But, he was sort of like blowing off the question. Ah, it's just a tradition.

[00:03:33]It's just sitting around. And a lot of public officials have more or less said the same thing. There are very few people who take gold seriously as a monetary asset in the United States even though the rest of the world does. And that's increasing as the US has weaponized the dollar. I mean, I teach financial warfare at the US Army War College and we talk about all this we talked about the solar time how you can use financial systems, payment rails, and other techniques to fight wars. And kicking Russia out of Swift, which you referred to, freezing the Russian assets, which are in Belgium by the way, they're at a custodian called Euroclear in Belgium but over 200 billion dollars worth of Treasury securities.

[00:04:18]Um they most of this mature by the way, so it's actually sitting sitting cash at this stage.

[00:04:23]But once you freeze that and the US and Europe have been thinking of stealing it. We we freeze stuff all the time.

[00:04:29]That's one thing. It just means you can't get it, but it's still yours.

[00:04:32]Stealing it is different and that is what they're they're talking about. But the rest of the world, you know, China, Saudi Arabia, Taiwan, Japan, India, they're watching this. They're like, "Hey, what if the United States what if I do something the the United States doesn't like? What if the United States doesn't like what I'm doing? Are they going to freeze my Treasury securities?"

[00:04:51]Well, this five, six years ago that might have been unthinkable, but we actually did it in the case of Russia.

[00:04:57]So the answer is we might and if you were that central bank or that finance ministry, you're probably looking at buying more gold because if you have physical gold in your possession, the US can't touch it unless they invade or something extreme like that. So that's one of the reasons they're buying gold is because the US can't freeze it and that that is going to accelerate. So so now we're we're getting into a world, Michelle, where gold is all of a sudden being taken seriously as a monetary asset. You know, I I I have a graduate degree in international economics and I got I received it 1974.

[00:05:33]1974 I was the last class where gold was still taught as a monetary asset. You know, people know Nixon closed the gold window in 1971, but he said it was temporary. He said we're temporary temporarily suspending the redemption of US dollars for gold. They thought they would get back to a gold standard and they tried it. They Washington Smithsonian Accord in December 1971. I talked to two of the people who were at Camp David on August 15th, 1971 when Nixon closed the gold window. I spoke to Paul Volcker and Ken Dam who was the the lawyer and they told me they said, "Yeah, we thought we were going to get back to a gold standard."

[00:06:11]But they never did. But [music] it really took until 1974 until the IMF demonetized gold and no longer required gold deposits to join the IMF and all that. But I studied gold as a monetary asset. Since then [music] yeah, um we have three generations of scholar scholars. If you know anything about gold today you're either self-taught or you went to mining college because they don't teach it academically. Um but all of a sudden I think this thing of reevaluating it by the US is a big deal.

[00:06:41]Even though I've said it's just an accounting entry, it's a big deal psychologically. Because it says, "Hey, wait a second. The US actually cares about gold. Maybe we should get some too."

[00:06:51]Here's the uncomfortable truth.

[00:06:53]This isn't really about gold. It's about trust.

[00:06:57]For decades, [music] the global financial system ran on a simple assumption.

[00:07:02]The US dollar is neutral.

[00:07:04]>> [music] >> Stable, untouchable.

[00:07:07]That's why countries hold trillions in US Treasuries.

[00:07:11]That's why central banks park their reserves in dollars.

[00:07:15]Not because they had to but because they believed in the system.

[00:07:20]But something changed. When the US and its allies froze Russian reserves after the Russian invasion of Ukraine.

[00:07:28]That wasn't just a sanction.

[00:07:31]It was a signal.

[00:07:33]A signal that access to the dollar system is not unconditional.

[00:07:37]That reserves aren't always yours.

[00:07:40]And that the financial system can be used as a weapon.

[00:07:44]And when that realization hits, countries don't panic publicly.

[00:07:49]They adjust quietly. They diversify.

[00:07:52]They reduce exposure.

[00:07:54]And more importantly, they start accumulating assets that can't be frozen.

[00:08:00]That's where gold comes in.

[00:08:02]Not because it's shiny. Not because of inflation hedging narratives.

[00:08:07]But because gold is one of the very few assets with zero counterparty risk.

[00:08:13]If you hold it physically, no one can sanction it, freeze it, or digitally erase it. And that's why central banks from China to the Middle East have been steadily increasing their gold reserves.

[00:08:27]So, when we talk about a potential US gold revaluation, we're not just talking about an accounting trick.

[00:08:34]We're talking about a message.

[00:08:36]Because if the United States, the architect of the modern dollar system, suddenly starts marking gold closer to reality, then it's no longer dismissing gold as a tradition, like Ben Bernanke once implied.

[00:08:52]It's acknowledging something much bigger.

[00:08:55]That gold still matters.

[00:08:57]That gold is still money.

[00:09:00]Whether officially recognized or not.

[00:09:03]And more importantly, that the rules of the system may be changing.

[00:09:08]So, the real story here isn't will gold go to $10,000?

[00:09:14]The real story is, why are the biggest players in the world quietly positioning for a system where gold matters again?

[00:09:22]Because when the foundations of a financial system start shifting, you don't wait for confirmation.

[00:09:29]You prepare.

[00:09:31]And right now, whether people realize it or not, that preparation is already underway.