Jim Rickards: U.S. could be solvent again with gold at $5,500

Writing today at The Daily Caller, Jim Rickards, senior managing director of market intelligence for the consulting and research firm Omnis Inc. in McLean, Virginia, and former general counsel for the Long-Term Capital Management hedge fund, suggests that solvency could be restored to the U.S. government and strength to the U.S dollar if gold was revalued to the neighborhood of $5,500 per ounce. The alternative, Rickards writes, may be only the hyperinflating away of unpayable U.S. debts.