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Re: bigworld post# 12389

Sunday, 09/17/2017 2:18:03 PM

Sunday, September 17, 2017 2:18:03 PM

Post# of 19856
Bigworld, >> higher inflation, it’s the only way to keep America from going broke <<


And the way to get inflation instantly is to revalue gold up to $5000, or to $10,000 in several stages.

Rickards says that one of this Federal Reserve related contacts said that this is a distinct possibility after Trump makes his upcoming appointments to the empty Federal Reserve Board seats.

Of the 7 seat Board, 5 seats will be vacant - 3 already are and 2 more will be soon. Vice Chairman Stanley Fischer just announced that he's leaving on October 13, and Yellen's term is up on February 3.

Rickards explains how the system is totally clogged with debt, how it is preventing economic growth, and how this debt (105% of GDP) is increasingly unsustainable and jeopardizes the US dollar's suitability as the world's reserve currency. Numerous countries are starting to abandon using the dollar for trade and as a the 'go to' place to keep their reserves - a very ominous trend that is accelerating.

The Fed would like to inflate the value of the debt away via inflation, but has been completely stymied. So the nuclear option will be to re-price gold to $5000 or $10,000, possibly in stages.

As wild as this sounds, Rickards sees it as likely, and perhaps by early 2018 or even sooner (!) He said he got the info from his Fed contact who is a close friend of the most likely replacement for Yellen.

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