The direction the Federal Reserve is taking today with their monetary policy does not inspire confidence and erodes the value of money, said best-selling author James Rickards.
“You can have a fiat money standard if people have confidence. There are a couple of ways to destroy confidence. One, too much debt, and the other one is inflation. Inflation is not much of a problem right now but too much debt is, because it points to inflation as a way out,” Rickards told Kitco News.