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Gold revaluation is easiest way to avert deflation, Rickards tells Hedgeye

Section: Daily Dispatches

5p ET Sunday, April 26, 2020

Dear Friend of GATA and Gold:

Averting deflation as the United States falls into a virus quarantine-induced economic depression is the urgent objective of the U.S. government and Federal Reserve, financial newsletter editor and author James G. Rickards tells Hedgeye Risk Management CEO Keith McCullough in a fascinating interview posted on YouTube three weeks ago.

Rickards contends that the simplest and most effective way of accomplishing that objective would be the substantial upward revaluation of gold by the U.S. government, similar to what was done by President Franklin D. Roosevelt in 1933 -- after, of course, the government ordered the public's monetary gold to be confiscated.

... Dispatch continues below ...


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Rickards imagines the U.S. government's revaluation of gold to be a matter of daily market making, buying and selling gold at a fixed price.

But upon reaching the end of the interview, viewers might wonder: What's the point? For while the former chief executive of Anglogold, Bobby Godsell, said the company aspired to "a good gold price in a good world," Rickards concludes the interview by saying that his vision of the future is portrayed in the dystopian 2016 novel "The Mandibles -- A Family, 2029-2047" by Lionel Shriver, which, Wikipedia suggests --

-- makes life under virus quarantine seem like paradise.

Rickards' interview with McCullough is an hour long and can be viewed at YouTube here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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