Jim Rickards: Gold Remains a Stronghold Against Crypto Replacing the US Dollar
Economist Jim Rickards argues that the U.S. Treasury should buy gold to bolster confidence in the dollar and prevent its decline amidst rising debt levels.
In a recent interview, he emphasized that acquiring gold would signal the Treasury’s commitment to maintaining the dollar’s value, even as central banks move away from dollar reserves. While Rickards acknowledges this would likely raise gold prices, he believes the benefits outweigh the downsides.
He warns that as traditional currencies weaken, alternatives like cryptocurrency will gain traction, highlighting the adaptability of human finance. Rickards predicts gold could soar past $27,000 by 2026 due to increasing demand from central banks.
Clever Robot News Desk 9th October 2024
