Warning: Reader discretion is advised! You are about to read a fictional account of what we could be faced with in the coming years – perhaps as early as 2024 – based on events that are already taking place in America today. It is most alarming but, unfortunately, after everything I’ve seen during my time inside Wall Street, inside the CIA and inside the halls of the Pentagon, that’s the path America’s heading down.
The commentary above & below consists of edited excerpts from an article* by Jim Rickards (agorafinancial.com).
The year is 2024. The global economy and world-wide financial markets have been all but decimated.
- In 2018, the government shut the stock market down after the Dow Jones Index crashed to 3,500.
- The President, with support from members of Congress and Wall Street said the shutdown would only be “temporary” and that all things would return to “normal” soon enough but there was no turning back.
- Once markets were closed they were never opened again.
- Liquid stocks were converted to private equity with no way to trade or cash out.
- Everyday Americans suffered huge losses both in their brokerage accounts and their retirement accounts.
- Along with the markets, the world-wide economy has been in a deep recession for nearly the past decade.
- Unemployment has skyrocketed.
- Commerce and trade have declined precipitously
Central banks thought they would solve the world’s economic problems simply by printing money but that stopped working by 2018, when the Fed launched the seventh round of its money-printing program known as QE7.
Inflation quickly went to 10%, 15%, 20% and beyond before investors had time to react. By 2019, all confidence in paper currencies had been lost. Hyperinflation made money virtually worthless. Everyday workers and retirees saw their savings, bank accounts, pensions and insurance policies turn to dust.
Social order has broken down and wiped-out savers have…rioted across the country. Supermarket shelves…[were] empty. Americans looted each other, vandalized government buildings and set up black markets to barter for food, clothes and other necessities. We’ve also suffered through electricity rationing, allowing us to use power only a few hours a day.
Local militarized police forces responded quickly on behalf of the power elites. They cracked down on their communities using drones, armored vehicles, night vision technology, body armor and electronic surveillance. Highway tollbooths and E-Z Pass lanes were used to spot any citizens who tried to flee by car. Thousands of citizens were arrested and thrown in jail.
After blaming the private sector for the collapse, the government nationalized certain corporations in the name of “national economic security.” Once vibrant private companies like Google, GE and Wal-Mart are now all government owned.
By 2020, major governments across the globe agreed to take unprecedented steps to fix the global economy.
- They abolished most currencies, and announced a brand new international monetary system that would be based on a spooky new kind of world money.
- To make their plan work governments abolished the use of cash and coin to control all forms of money.
- All transactions were digital and executed through a government administered system.
…The entire process unfolded in small stages – like single snowflakes falling on the side of a mountainside – before an eventual avalanche. Snowflakes so small that investors and citizens barely noticed – before it was too late – before the financial avalanche came crumbling down and crushed their wealth.
Luckily, a few open-minded Americans saw the snow piling up. They were warned in advance of the coming financial avalanche and they prepared their money – and their lives – accordingly.
Back to 2015
To be blunt, I believe we’re about to face the worst financial crisis in the history of our nation — perhaps within the next six months – driving America into a decade long deep recession…that could very well lead to the nightmarish scenario I outlined above where:
- The stock market could plunge almost overnight 70% or more,
- The US dollar could lose 80% or more of its value, and…
- 50% of American IRAs are set ablaze.
This is about to happen simply because our financial system is more unstable than ever before.
- The “too big to fail” banks are even bigger today than they were in 2008, when they almost brought down the global economy and
- the size of derivatives, the same instrument Warren Buffett once called “weapons of mass destruction,” are now worth more than $700 trillion. That’s TEN times bigger than the entire world economy!
In other words, the Feds can’t print enough U.S. dollars to backstop the financial markets if they blow up again. There’s no “QE” program that’s big enough. No printing press that could run long enough to pump that many new dollars out to bail out the system. Put simply, this crisis will be too big even for the U.S. government to solve.
“Follow the munKNEE” via newsletter (3x weekly) – sample here, sign up in top right corner
In this coming crisis, it’s the Federal Reserve that will need a bailout. [In fact,] during private conversations, two members of the Fed have already admitted to me that the Fed is secretly broke. This means the world will have to bail the entire U.S. financial system out.
Monetary authorities around the globe are already preparing for that day. In fact, that’s exactly why a powerful group of 24 people who oversee the international monetary and financial system got together to design a new kind of world “money” and they already have a plan to use this “money” to replace the dollar as the world’s reserve currency.
Until now, this plan has been cloaked in secrecy…[but] I can’t sit still and watch this all pass without doing everything I can to warn people like you. That’s why I’d like to personally invite you to attend an online intelligence event…on October 12th where I’ll reveal:
- all the details of this new “money”,
- the latest development in this coming crisis…and, most importantly,
- a solution set that will help you prepare and prosper from the fallout…
This live event is free of charge…[and is being offered as a means of introducing my]…brand-new letter called Jim Rickards’ Strategic Intelligence, where I provide ongoing intelligence and recommendations…Once you agree to a risk-free trial of my new letter [go HERE to do so] I’ll put you on the invite list to the online event on October 12th…
[As an additional enticement for you to do so I’ll give you]:
- instant access to a comprehensive action plan I’ve prepared called the Project Prophesy 2015 Intelligence Package [which]…includes a set of intelligence reports to help you better prepare for what’s coming.
- Intelligence briefing #1: 30 “Snowflakes” That Could Trigger the Next Financial Avalanche
- Intelligence briefing #2: A Secret Anti-Dollar Strategy Inspired by the World’s Greatest Investor
- Intelligence briefing #3: Three Investments That Will Jump 100% in the Next Crisis.
- Intelligence briefing #4: America: 2024.
With all this information, you’ll know the exact kinds of investment opportunities to target and the ones to avoid…
The end of the international monetary system is imminent, and it will wipe out millions of unprepared Americans. Since you’ve read my letter this far, I’m confident you’ll do the smart and prudent thing and agree to a risk-free trial of my new letter [go HERE to do so] so you won’t be among the millions of citizens who will hit rock bottom when the dollar collapses…
Thanks for reading this important letter.
Related Articles from the munKNEE Vault:
Money illusion is a longstanding concept in economics that has enormous significance for you if you’re a saver, investor or entrepreneur. Money illusion is a ruse performed by central banks that can distort the economy and destroy your wealth. Let me explain.
Gold is technically set up for a massive rally to $7,000 to $9,000 per ounce in three to five years based on a collapse of confidence in the dollar and other forms of paper money.
Jim Rickards is of the opinion that a global currency reset is coming in the not too distant future in the form of an IMF issue, known as a Special Depository Receipt. It will be backed by 20-40% gold from the reserves of the global central banks which will necessitate revaluing bullion to around $7,000 a troy ounce, or there won’t be enough of it to do the job. The unknown factor is the timeline: does this happen this year – or in five years?
A lot of people think that because they have a lot of money they’re wealthy but, in the short run while that may be true, in the longer run the money can go away. Wealth, however, is something that prevails and these 2 investors know exactly how to maximize theirs.
It has been put forth that the U.S. dollar will soon lose its position as the world’s reserve currency, and that when that happens, the world will fall into a deep depression. Is such an event really likely to unfold? Would such an event be really something to fear? How would/should we prepare for such a presumed collapse?
You are going to see the price of gold go up… a lot and it may go up a lot in a very short period of time. It’s not going to go up 10% per year for seven years and the price doubles. It’s going to chug along sideways, maybe in an upward trend, with a lot of volatility. It will have a kind of a slow grind upward… and then a spike… and then another spike… and then a super-spike. The whole thing could happen in a matter of 90 days — six months at the most.
It’s common for the world’s most powerful country to issue a currency that becomes adopted around the world as the standard for international trade but whenever that country reaches a point of epic, terminal decline, and especially when it rapidly debases its currency, the rest of the world seeks an alternative. This article outlines the history of the rise & fall of “world” currencies over the centuries and then comments on what the future likely holds for today’s “world” currency – the U.S. dollar.
Government fiscal policy – profligate spending, leading to debt crisis, leading to currency crisis, leading to…the fall of the U.S. dollar – is the major cataclysmic endgame that is going to befall the U.S.
Hyperinflation is not an unusual phenomenon. 32 countries have experienced hyperinflation over the last 100 years of which no less than 21 have experienced it in the past 25 years and 3 in the past 10 years. The United States is one of the few countries to have experienced two currency collapses during its history (1812-1814 and 1861-1865). Could it happen again? Words: 1450