The famous economist James RICKARD'S gives his opinion about the current trade war and the "Axis of Gold" which includes Russia, China, Iran and Turkey.
As you probably know by now, President Trump backed out of the nuclear deal with Iran and is re-imposing harsh sanctions.
Trump announced that he’s canceling the much-anticipated nuclear summit with North Korean leader Kim Jong Un because of Kim’s recent belligerent comments.
What does that mean, aside from the added geopolitical risk to markets?
As you’re about to see, you can now expect what I call the “Axis of Gold” to get even stronger. And it has potential to accelerate the demise of the dollar-based international system.
The Axis of Gold includes Russia, China, Iran and Turkey. I would also include North Korea in that list, although as a junior member...
Source: dailyreckoning.com