Economist claims gold could hit $10k an ounce as cyber-criminals hack into digital wealth
By GCRU Gold News on Wednesday, April 13 2016, 23:32 - Permalink
James Rickards, chief global strategist at West Shore Funds, told Bloomberg Markets that the 21st century cyber age poses risks to digital money and wealth to all investors and savers.
He claims gold will climb to $10,000 an ounce if confidence in currency collapses, which he believes could happen as a result of another financial crisis. The precious metal is currently trading around $1,250 an ounce.
He cites hacking, cyber warfare and terrorism as the biggest threats to digital wealth, which is how most money is now held.