“Kicking the problem upstairs”

September 29, 2009

James Rickards of Omnis shares many deep thoughts in this interview on CNBC.

Among other things he argues that IMF Special Drawing Rights will replace the dollar as the world’s reserve currency in an attempt to solve Triffin’s dilemma.

He also says the Fed should raise rates (I thought I was the only one!).

Another tidbit: For his “conservative clients” he recommends a portfolio of 10% gold and 90% cash.

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