Jim Rickards: Fed Knows Gold Has To Go Higher

Summary: Kitco News recently caught up with best-selling author Jim Rickards to discuss recent news from the Federal Reserve, gold and the international monetary system in general. Rickards explains that he didn’t expect the Fed to taper since economic data has remained weak. Per Fed statements, he says tapering is dependent on stronger jobs, manufacturing and consumer confidence numbers. He also explains how the Fed wants inflation, and by extension higher gold, but wants it to occur in an orderly way. He explains that the economy is a struggle between inflation and deflation, and that the central bank desires inflation because that’s the only way massive debts can be repaid. For investors, he recommends buying gold on its dips (…to below $1300) and holding it. Read more…