‘Deflation is a Central Bank’s Worst Nightmare’

‘Deflation is a Central Bank’s Worst Nightmare’

‘Shae!’

A voice boomed as I walked up the stairs at the Ivy Ballroom in Sydney. Last night, ABC Bullion held a gold conference there, and Jim Rickards was a key speaker. ABC Bullion kindly offered me a ticket to attend.

The voice calling my name was Jim’s.

He had the unfortunate experience of getting caught up in Sydney’s peak hour traffic.

Not long after, we sat next to each other and the conference kicked off.

The focus for the conference? Gold, of course!

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Specifically, the future of mining in New South Wales, along with Jim’s macro analysis on where and why gold is going higher.

According to Jim, there are five key reasons for gold prices to head higher.

In last night’s speech, he focused on how the role of real rates versus nominal rates is driving gold.

While Jim is well-known for suggesting gold could go to US$10,000 per ounce, he actually made a strong case that that’s a conservative price. Gold may in fact move much, much higher than that.

He added that gold will head higher as a direct result of central banks’ actions. He told the crowd, ‘Deflation is a central bank’s worst nightmare.’

Here, Jim explains how central banking policies have failed, and why even the money managers don’t know what they’re doing anymore.

Until next time,

Shae Russell Signature

Shae Russell,
Editor, The Daily Reckoning Australia