Jim Rickards: Stablecoins pose a danger to the bond market, and gold prices may reach 10,000 USD

Economist Jim Rickards stated that gold prices may reach $10,000 faster than most analysts expect. He referred to this as "fifth-grade math": the price of gold only needs to rise 11% from $9,000 to $10,000, which is much smaller than the increase from $3,000 to $4,000. He pointed out that the ongoing purchases of gold by central banks provide a bottom support for gold prices, and the strengthening of the dollar and the decline in gold prices do not represent the implications that supporters of "currency devaluation theory" believe. Rickards expects gold prices to reach $10,000 by mid-2027.

In the comparison between Bitcoin and gold, Rickards remains skeptical and explores whether Bitcoin is a safe-haven asset or a risk asset in the next crisis. He also referred to stablecoins as "the most dangerous thing in the world," believing they pose a threat to the bond market. Additionally, he discussed the 1998 bailout of Long-Term Capital Management (LTCM), yen carry trades and the leverage risks of private credit, AI risks, as well as the Federal Reserve's interest rate hike in September and its subsequent effects.