From Port Phillip Insider (Australia)-
Today, I would like to share parts of an exclusive interview with you.
On Monday, Jim Rickards sat down with our affiliates in the US to discuss the aftermath of Brexit.
Normally, this interview is reserved for a small group of lifetime subscribers of Jim’s work.
After some negotiating, I managed to get access to the interview.
In the lead up to the Brexit vote, Jim argued that this was one of those easy events to pick trades for. The markets were pricing in a ‘Remain’ vote. So topping up your portfolio with gold, silver, cash and treasuries wouldn’t break you financially if the ‘Leave’ vote won.
These are all positions Jim believes investors should have exposure to, anyway.
However, in the event that the Leave vote won — as Jim predicted — gold and silver would soar.
Which they did.
So where to next?
As Brexit unfolded, investors dumped what they could and ran head first into gold and silver. The US dollar and the yen rose, leaving the euro and the pound in their wake. Jim suggests the euro has found a floor for now. However, get ready for the sterling to slowly sink lower.
In fact, the Bank of England may need to cut rates at some point this year.
While some people are calling this a crisis, it’s not. It’s really a market shock.