Gold’s ‘Money’ Value is $4,000 to $11,000: Market Strategist

JeeYeon Park
CNBC
Friday, Nov 20th, 2009

Federal Reserve officials on Thursday downplayed the consequences of the falling U.S. dollar, pounting to deflation as a lingering threat. The dollar has fallen 7 percent so far this year and likely has become a funding vehicle for bets on higher-yielding currencies in growing emerging markets. So how should investors guard their portfolios? Jim Rickards, senior managing director of market intelligence at Omnis, shared his insights.

“[The Fed is saying] we’re nowhere near the all-time lows, we’re back to where we were 15 to 18 months ago…So they look at that and say we’ve been there before,” Rickards told CNBC.

“My only view is that it’s a much more unstable and dangerous world: In the ’80s, our creditors were Japan, Europe and the [Arab states]—and the three of them were utterly dependent on the U.S. for their national security.”

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