by Bob Moriarty
One of the people I genuinely enjoy listening to at investment conferences is James Rickards, bestselling author of The Death of Money and Currency Wars. Well, he’s out with a new book to be released in another three weeks titled, The New Case for Gold.
I’ve read his first two books and by and large I agree with his conclusions. He believes that gold will be a major part of a new international replacement for the Bretton Woods agreement. On that we agree. But he believes a gold linked version of the SDR, the Special Drawing Rights will be the future foundation of money.
I think he’s wrong, what we need is for all countries to accept a gram based gold currency unit instead of gold being tied to anything. The financial problems of the world today are caused by fake money and the solution is not another fiat currency that no one understands but real money that you can touch and feel and hold. Gold fills the bill, SDRs do not.