Saturday, October 13, 2018

Book Review: 'The New Case for Gold' by James Rickards

Review by Graham H. Seibert

This is an excellent follow-on to "The Death of Money." It deals only with gold. How the gold business is structured, the major players (China, US, Russia, IMF…) and their motivations. Their policy objectives, and the constraints that hem them in.

Very good examinatin of gold price manipulation. How it is done and why. Rickards does not believe that the US has hollowed out its reserves at Ft. Knox. He accepts the government's word that the 8,000 tons are still there… and still there is a problem.

Rickards is conservative in another way. "Black Swan" or "Big Short" type investors would read this, conclude that there is very limited downside and a major upside to gold, and back up the truck. Rickards is content to advise holding 10% of a portfolio in gold. He mentions other precious metals only briefly. Basically, gold is the only one available in sufficient amounts to serve as a universal monetary metal.


Editor's note: This review has been published with the permission of Graham H. Seibert. Like what you read? Subscribe to the SFRB's free daily email notice so you can be up-to-date on our latest articles. Scroll up this page to the sign-up field on your right.