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.
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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.
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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.
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.
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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…
The end of the international monetary system is imminent, and it will wipe out millions of unprepared Americans.
The above article has been edited by Lorimer Wilson, editor of munKNEE.com (Your Key to Making Money!) and the FREE Market Intelligence Report newsletter (see sample here – sign up in top right corner) for the sake of clarity ([ ]) and brevity (…) to provide a fast and easy read.
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Mr. Rickards , I am interested in why you did not say anything about Gold or Silver . It is my belief that during this collapse that our President is going to declare that both are going to be declared as illegal to own or trade with . The same as FDR did back during the last great depression . And also that it must be turned in to the feds or face imprisonment and fines . Especially if this president declares MARTIAL LAW!! Your thoughts sir ?