Jim Rickards Discusses Looming Shut Down of the Entire US Economy (Video)

By: The Voice of Reason |

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!”

CLICK FOR THE INTERVIEW

SchiffGold writes:

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.”

THE VOICE OF REASON is the pen name of Michael DePinto, a graduate of Capital University Law School, and an attorney in Florida. Having worked in the World Trade Center, along with other family and friends, Michael was baptized by fire into the world of politics on September 11, 2001. Michael’s political journey began with tuning in religiously to whatever the talking heads on television had to say, then Michael became a “Tea-Bagging” activist as his liberal friends on the Left would say, volunteering within the Jacksonville local Tea Party, and most recently Michael was sworn in as an attorney. Today, Michael is a major contributor to www.BeforeItsNews.com, he owns and operates www.thelastgreatstand.com, where Michael provides what is often very ‘colorful’ political commentary, ripe with sarcasm, no doubt the result of Michael’s frustration as he feels we are witnessing the end of the American Empire. The topics Michael most often weighs in on are: Martial Law, FEMA Camps, Jade Helm, Economic Issues, Government Corruption, and Government Conspiracy.