Gold at $40,000 An Ounce?
Jim Rikards recently suggested in an interview with King World News that if China were to simply continue to unload dollars and replace them with gold until their gold reserves-to-GDP ratio were in parity with that of the US, they would need to unload about $2 trillion in paper liabilities. Such a move would require that the price of gold would need to rise to around $40,000/ounce.

Listen here for the full interview.

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Jim Rickards: Senior Managing Director for Market Intelligence at Omnis, Inc. - Jim has been a direct participant in many of the most significant financial events over the past 30 years including the 1981 release of hostages from Iran and was also the principal negotiator for the government sponsored bailout of LTCM. His clients include private investment funds, investment banks and government directorates in national security and defense. He is an advisor to the Committee on Foreign Investment in the United States and Support Group of the Director of National Intelligence and recently testified before Congress on the causes of the financial crisis. Follow Jim Rickards on Twitter at twitter.com/JamesGRickards