What do our “Government Officials” know, but are doing everything in their power to keep hidden from the American People?
It’s absolutely terrifying, but the secret is getting out, so I want to introduce you to someone who is telling all. You need to learn the answer to the question, “Who is Jim Rickards?”
In this article, you’ll find out who is Jim Rickards, his credentials, and why every American should listen to him.
Who Is Jim Rickards?
- James Rickards was a high-level “Financial Threat & Asymmetric Warfare Adviser” for both the Pentagon and the CIA.
- In the early 80’s, Jim was a member of a team that helped negotiate and end the Iranian hostage crisis.
- In the late 90’s, it was discovered that the wall street firm Long Term Capital Management nearly caused a total collapse of the financial market. That’s when The Federal Reserve had to turn to Jim Rickards to stop this catastrophe from plunging America into a recession.
- After the 911 attack, Jim was tasked by the CIA to investigate potential insider trading that took place prior to the terrorist attacks.
- Jim Rickards helped developed “Project Prophecy” for the CIA. Project Prophecy is a sophisticated CIA program that tracks key financial and economic metrics. It successfully spots planned attacks on the US whether the attack is military or economic in nature, and this system was able to predict and thwart a terrorist attack in 2006.
- Jim has recently been speaking out and sharing all his disturbing information about the coming economic collapse, and he’s not alone.
In fact, 16 different US Intelligence Agencies have begun quietly issuing warnings and estimating the massive impact of the fall of the US dollar. They have been releasing statements such as these:
– Our reign as the world’s leading superpower becoming annihilated is in a way equivalent to the end of the British empire in the post-world War II period.
– A worldwide economic breakdown and collapse are an end game that would result in a nightmarish scenario of an extended period of global anarchy.
Bottom line: Every American should find out Who is Jim Rickards and heed his warning before it’s too late.
So What Occurs When The Dollar Is The Threat?
In this first Jim Rickards interview clip, he explains what many of us already know…we are in severe debt as a country.
Not only do we have $18 trillion plus in balance sheet debt, but we have another $127 trillion in unfunded liabilities (Medicaid, Medicare, Social Security, Student Loans, Fanny May, Freddie Mac, FHA, etc.)
“There’s No Way To Pay.” – Jim Rickards (JR)
Our massive debt is destroying our economic growth and it’s getting worse faster.
“This is the first signal of a complex financial system about to collapse.” – JR
We Are About To Fall Into A Prolonged 25 Year Great Depression
We are already in a depression and just don’t know it yet. We have modern soup kitchens; they’re called food stamps! About 50 million Americans are on food stamps.” – JR
We have enormous economic distress, but it’s being hidden by our government…for now.
When you calculate the Real Unemployment rate…it’s more like 23% (or maybe worse).
And all these government measures to hide this pain from the American people are systematically destroying the dollar. The Fed and the Treasury are the current largest threats to our national security.
The collapse hasn’t happened yet but these forces are building up, and it’s just about to snap.” – JR
The Fed Doesn’t Know What They Are Doing
“Print all the money you want, however, if people are not borrowing, if they are not spending it, then your economy is collapsing…even with money printing”.
The velocity of money today is plunging, and there is a striking resemblance of this same situation leading up to the Great Depression.
The Fed Is Already Insolvent
Another key indicator of economic failure is a metric called the Misery Index.
The Misery Index is calculated by taking the Unemployment Rate (the real one) and multiplying it by the inflation rate…then plotting it on a graph.
So what was the Misery Index ratio during the Great Depression? 27
We have a higher rate of Misery (unemployment/inflation) than we did back in the depths of the Great Depression.
So a massive number of Americans are suffering to pay their bills and have jumbo loans. The banks are holding these “worthless” loans (pretending they are still valuable) and our Fed is tapped out from the last financial crisis.
Plus, Our Banking System Is In Severe Shape
There are now 60 trillion dollars of debt on the balance sheet of our banking institution.
US banking debt has recently exploded.
Prior to 2013, the ratio of debt to economic growth on the bank balance sheets was a reasonable 2 or 3. Today it’s more like 30.
Let’s Break All This Information Down
I know that’s a hell of a lot of information to take in so let’s break it all down and simplify it a bit.
The numbers and metrics above provided via the Misery Index and Real Unemployment Rate mean that a large portion of the American people are either being subsidized (Government handouts) or are in massive financial debt barely making ends meet (living paycheck to paycheck).
To hide the fact of our current economic failure and “kick the can down the road” the Government has exploded its debts and unfunded liabilities to a point of unsustainability.
At the same time, the American people who are not getting government handouts but barely scraping by are finding banks willing to lend them money (money they won’t be able to pay back).
Why are the banks lending? Because the Fed is creating money out of thin air and shoving it at the banks.
The banks have so much money being pumped into them by the Fed, the banks are forced to loan these dollars to try to make a return on their money, but in reality, they have lowered their credit standards (again) and are subsidizing broke Americans (who have no intention of paying them back).
We are currently teetering on the edge. All that’s needed now is a catalyst for the entire system to become an unstoppable chain of economic collapse.
There are five likely catalysts:
Catalyst Number 1 – Foreign Debt Dumping
Foreign ownership of US Government Debt. If the Fed is issuing debt to pump liquidity into our financial system…who’s buying the debt?
It used to be China and Russia, but they’ve been dumping their US Debt recently. Now, there seems to be a mystery buyer…
If the Feds tapped out (leveraged 77 to 1) and foreigners are dumping their US Government debt who’s left to keep buying?
When there is no one left to fund our debt, interest rates go up, which in turn will begin the stock market crash.
It’s the start of a death spiral.
Catalyst Number 2 – The Dollar No Longer Being The World Reserve Currency
Saudi Arabia, Russia, and China are getting ready to move away from using the dollar as the world reserve currency.
“It’s time to change the entire international financial system that considers the dollar the key reserve currency…the world has changed.” – Andrei Kostin (President and Chairman VTB Bank Of Russia)
“The dollar is evil…we will sell rubles to consumers of our oil and gas, and later we will exchange rubles for gold…if they don’t like this – let them freeze to death.” –
Russian Parliament Declaration
The dollar is out in the cold…it’s just a matter of time.
When the dollar is no longer the world reserve currency, foreign governments who currently have to hold dollars to buy oil and gas will no longer have an incentive to hold onto dollars.
They will begin dumping the dollars on the open market, and the dollar will spiral into free fall causing our economy to collapse.
Catalyst Number 3 – A Switch To Gold
Many claim the dollar is truly the best of the worst and that there are no other real alternatives to replace the dollar as the world reserve currency.
It may be true that the dollar is the best of the worst of the available government currencies, but there is an alternative to the dollar…Gold.
Countries all across the world (especially China) are secretly building up their gold reserves in preparation for the fall of the dollar as the world reserve currency.
“This is a dagger aimed at the heart of the dollar.” -JR
Catalyst Number 4 – China’s Economies Bubble Bursts Causing A Chain Reaction
China has a “Shadow Banking System“.
The Chinese banks are buying mortgages on worthless new construction assets.
For example, the US new construction as a % of economic growth was around 16% right before the Great Recession. China’s new construction growth is currently 50% of their economic growth.
They are building ghost cities…
“This is fundamentally a Ponzi Scheme.” – Xiao Gang (Chairman, Bank of China)
Catalyst Number 4 – IMF To The Rescue
As we already discussed, the dollar is already being dumped by foreign countries, and it’s starting to decline in value when compared to other currencies.
Right now the Federal Reserve is extremely leveraged (debt/assets) at 77 to 1 and has reached its limit to extend itself any further.
Since the IMF (International Monetary Fund) is only leveraged at 3 to 1, they are the only remaining entity left in the world to try and prop up the economies of the world in the coming crisis.
So when the world economies begin collapsing…The Federal Reserve is already tapped out, and the dollar will no longer be the world reserve currency.
This time the IMF will step in and start printing “Special Drawing Right” or World Money.
The new World Money will replace the dollar as the world reserve currency.
The IMF might keep the world economies from total collapse, but the US dollar will collapse in order to do so.
Also…its important to understand who runs the IMF. Kings, communists, dictators, un-elected, unaccountable foreign politicians…and they will rise up overnight to become our new world power.
Now That You Know Who Is Jim Rickards and What’s About to Happen…
- What are you going to do about it?
- What can we do to protect ourselves and our family?
As Prepared Survivalists, we need to take two actions today.
ACTION #1 – Now that you know who is Jim Rickards you should grab your free version of Jim’s latest book (The Big Drop) where he provides detailed financial advice to attempt to side-step as much of this damage to your savings as possible.
This is a summary of all the advice and topics he posts with AgoraFinancial.
In this FREE 263 page, a never-before-published book “The Big Drop“, Jim will show you the exact steps he’s using to protect his own wealth and how you can do the same.
ACTION #2 – However, we are talking about an economic collapse that might make all financial assets worthless. Financial assets don’t mean much when we fall back into a Barter Economy.
What matters in a Barter Economy:
1 – Having valuable objects such as food, bullets, medicines, useful tools, and vices.
2 – Self Reliance and Survival Skills – The skills our great, great grandparents knew, but we have since lost.
- How to grow your own foods
- How to keep your home warm without electricity
- How to hunt and trap
- How to defend what’s yours
- How to deal with human waste
You need to have a clear economic collapse survival plan if you want toClick Here To Learn More.