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Jim Rickards Discusses Looming Shut Down of the Entire US Economy (Video)
In the following interview, legendary investor Jim Rickards echoes almost verbatim what Peter Schiff and Michael Snyder said recently in a post titled, Peter Schiff: Making America Great Again Will Be Much Harder Than Voters Think. In just a few short minutes, Jim confirms what myself and so many others have been trying to warn our readers about for well over a year now, which is that collapse of the global economic system is imminent. To put things in perspective, consider the fact that Deutsche Bank’s derivative exposure alone, is more than 3x the continent of Europe’s annual GDP, and that’s just one bank.
Contrary to what the talking heads in our woefully dishonest mainstream media are saying, the fact the financial markets are at all time highs does not even remotely suggest that our economy is doing well. Frankly, it’s the proof that the looming crisis is a certainty! It doesn’t matter if the Dow goes up 200%, and closes at 36,000 next week, because it’s all smoke and mirrors anyway. If you haven’t noticed, experts like Jim Rickards, Peter Schiff, Dr. Jim Willie, and Bill Holter just to name a few, haven’t been warning about a looming “correction” in the markets,. They’ve been warning that we’re on the verge of an economic apocalypse that could last well over a decade.
When describing Donald Trump’s economic plan, Jim says exactly what Peter Schiff and Michael Snyder explained in the previously mentioned post, which is that even if Trump follows Reagan’s playbook to the tee, he’s going to get drastically different results. Why? The primary reason is because there are other market factors present today that the U.S. is facing, that were not around when Reagan put his plan into action. Furthermore, Jim says what everyone needs to hear when he says:
“Systemic risk doesn’t care if you’re liberal or conservative. Think of it in terms of an avalanche bearing down on a skier.”
Translation: As it relates to avoiding the global collapse (or what many are calling the global reset), it makes no difference who is in office. Again, I say that only as it relates to the economic crash. People need to realize there is a 0% chance this crash isn’t coming. Zero. If you’re fortunate enough to still be working, and you have an income, do not squander your opportunity to protect your family. Begin preparing.
There is a reason Peter Schiff has said: The Collapse of the Dollar Will Be the Single Biggest Event In All of Human History. Prepare now, or you can keep whistling past the graveyard, but ignoring the problem won’t make it go away. You don’t have to “understand” economics, to begin making preparations for your family. No one ever died being too prepared.
Recall the words of another legendary investor, Jim Rogers:
“Of course it’s going to get worse. You SHOULD be worried … Get KNOWLEDGEABLE, get WORRIED, and get PREPARED! It’s going to be MUCH worse, and worldwide!”
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Jim Rickards,the chief global strategist at West Shore Group, appeared on Bloomberg Markets to discuss the next financial crisis. Rickards said he sees next US downturn approaching a tipping point soon. However, the Federal Reserve’s response to restoring financial solvency will be much different because there’s no place left to go with monetary policy.
“The next time, they’re not going to print the money because they’re tapped out,” he states. “They’re going to lock down the system.” In a move Rickards refers to at the “bail in, lock down” plan, large sections of the financial sector will be deactivated to avoid bank runs and complete collapse. Rickards describes some of the more likely scenarios:
“Money market funds will suspend redemptions, bank ATMs can be reprogrammed to give you $300 per day for gas and groceries; they can selectively shut down the banks. We saw it in Greece. We saw it in Cyprus; we’re seeing it today in India. The banks are closing. They’re out of cash.”
For anyone with no idea where to begin making preparations, I suggest you get your FREE GUIDE for how to survive Martial Law at the very least. For those looking for more guidance, a very good, and very inexpensive tool to teach you how and what you should be preparing, is a book called “Conquering the Collapse,” and because I’ve practically worn out my own iPad reading my copy, in the following link I provide you with a review of the book: Be Ready For Any Emergency – The Crucial Guide For Any Family’s Safety (Videos).
BE SURE TO CHECK THELASTGREATSTAND.COM FOR SURVIVAL GEAR!
FREE DETAILED GUIDE TO SURVIVING ECONOMIC COLLAPSE OR MARTIAL LAW HERE
IF YOU READ NOTHING ELSE, THE FOLLOWING POSTS ARE ESSENTIAL:
Bill Holter: Between Now and Election Will Be Extremely Dangerous (Video)
Dr. Jim Willie: We Are on the Brink of World War; Americans Totally Clueless - Pt. 1
Dr. Jim Willie: We Are on the Brink of World War; Americans Totally Clueless - Pt. 2
Dr. Jim Willie Reveals 2nd Death Threat From U.S. Government (Video)
Bill Holter: Newly Solidified Chinese Superpower Will Replace Dead U.S. Dollar (Interview)
Peter Schiff: Don’t Believe the Hype! The Real Economic Fallout From Brexit (Video)
How Will the U.S. Conduct Trade With Worthless U.S. Dollars and No Gold? (Video)
Why Did Illuminated George Soros Liquidate 37% of His Stock to Buy Gold? (Video)
What Exactly Does Global Economic Collapse Coming May 2016 Mean?
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Margin Call. for all you movers and shakers. and yes, there will be a whole lota shakin’ goin’ on. so, i was wondering. why is questa new mexico paying their property taxes to denver, colorado. people say it is just an administrative center. yeah, maybe, if it were in santa fe. why would new mexico pass up job opportunities for their people and instead give them to denver. because. in new mexico, they take the law and the resources from your hands and give them to some other state. already gave all of our gas to texas. next will be our water. once the river rafters have made enough. fook everyone else. right? perhaps someone should ask susannah. our token republican. who is, in fact, a democrat.
“Groan”….
These assertions about the ‘looming’ financial crisis are really wearing me down. It’s almost as bad as the warnings of ‘Planet X’. It’s ALWAYS coming! And then when the date or time arrives, they pull another rabbit out of the hat and on we go again for another extended period. Another QE, or bail out, or (my favorite), that the Fed is going to raise interest rates FOR SURE this next time (depending on the current economic data of course). The longer the interest rates stay low, the more they can keep the Stock Market propped up (which looks good for the average ill-informed individual), because it rallies every time the Fed decides to leave things as they are for that month…not enough data they say! Don’t they get the same reports and graphs that I do?
I can’t even talk to others anymore, who don’t have a clue, because anything I say can be refuted, as nothing has changed much since the LAST time I talked with them…and warned them to prepare. Why prepare for something that is either never going to happen or is SOOO far in the future, that it won’t even affect us anyway?
Let’s face it…the PTB can shut things down anytime they want. The longer this goes on, the richer they get. And isn’t that the name of the game? There were reports even 2 or 3 years ago that the economy just couldn’t sustain itself any longer and could implode any day. Well, we’re still here! I wonder if these ‘experts’ are just trying to either make a name for themselves or trying to sell more precious metals or MRE’s. Every time they get interviewed, it’s like a broken record…and we are ALWAYS getting closer to that BIG day (that elusive day that never seems to come).
Totally agree with last poster. Rickards keeps selling his newsletters and services always promising golden rainbows. Same as people like Schiff, Dent, etc. etc. Smart people, but they only spout their brand of nonsense – follow their financial advice at your peril, and their gain.
Sure – eventually the market is going to move – up/down; and then they sell more stuff to let you know how right they were and how great you would have done if you followed said advice.
But they can’t make you money today, or even tomorrow, just some fantasy future time and date that can’t be quantified.
rickards,schiff have been saying the same thing over and over for 20 years..jackasses