Jim Rickards: If gold is money again, it goes to between $4,000 and $11,000

Section:

4:15p ET Thursday, November 19, 2009

Dear Friend of GATA and Gold:

Jim Rickards, director of market intelligence for McLean, Virginia-based consulting firm Omnis, was allowed onto CNBC again today to make gold-friendly comments. You may recall his blunt statement on CNBC back in September: "When you own gold, you're fighting every central bank in the world":

http://www.gata.org/node/7835

Today Rickards remarked that the United States and China are devaluing their currencies against each other in a game of chicken, that gold should easily reach $2,000 per ounce next year just as a matter of supply and demand, and that if gold should start being considered money again, it would have to rise to between $4,000 and $11,000 to support the big increase in the world's money supply.

You can watch Rickards' comments at the CNBC archive here:

http://www.cnbc.com/id/15840232?video=1336090735&play=1

Just please don't tell CNBC that this is all GATA-type stuff.

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

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