Jim Rickards Tells CNBC's Joe Kernen Gold Is Going To $5,000

Ealier today Jim Rickards of Omnis, formerly LTCM's GC, was on CNBC and was subjected to some "probing" questions by Joe Kernen in which the anchor asks Rickards if he is a "conspiracy theorist" for his recent insights into the potential investigation of JP Morgan's market rigging behavior by the DOJ. Rickards replies that he isn't, and follows it up with some gold price target observations based on "8th grade math": the former LTCM man sees gold going up by at least 10 times, and hitting $5,000 rather easily. We wonder if to CNBC there is any uglier word than "conspiracy theory" even when the "theory" is backed 100% by facts. (more)