STEVE MEYERSMy name is Steve Meyers and I want to thank you for taking part in this exclusive
Money Morning interview with Jim Rickards, the Financial Threat and Asymmetric Warfare Advisor for both
the Pentagon and CIA. Recently, all 16 branches of our Intelligence Community have come together to release a shocking report.
These
agencies, that include the CIA, FBI, Army and Navy, have already begun
to estimate the impact of the fall of the dollar as the global reserve
currency, and our reign as the world’s leading super power being
annihilated in a way equivalent to the end of the British Empire,
post-World War II. The end game could be a nightmarish scenario where
the world falls into an extended period of global anarchy.
Jim Rickards fears he and his colleagues’ warnings are being
ignored by our political leaders and the Federal Reserve, and we’re on
the verge of entering the darkest economic period in our nation’s
history, one that will ignite a 25-year Great Depression.
Today we’re going to examine everything he’s uncovered because
the bedlam could begin within the next six months, which is why every American should hear his warnings before it’s too late. Jim Rickards, thank you for joining us.
JIM RICKARDS: It’s my pleasure, Steve. Glad to be with you.
STEVE MEYERS: In the early ’80s, you were a member
of the team that helped negotiate an end to the Iran hostage crisis. In
the late ’90s, when it was discovered that the Wall Street firm
Long-Term Capital Management was about to cause a total collapse of the
financial markets, the Federal Reserve had to turn to you in order to
stop this catastrophe from plunging America into a recession. And then,
after 9/11, you were tasked by the CIA with investigating potential
insider trading that took place prior to the terrorist attacks.
JIM RICKARDS: That’s exactly right. The problem
was the CIA didn’t have any capital markets expertise, and why should
they? Prior to the beginning of globalization, capital markets weren’t
really part of the battle space, so the CIA engaged in some outreach.
They recruited certain people, myself included, to bring the Wall Street
expertise to the agency. This Led to
Project Prophecy. So,
what the CIA said was, ‘Well, if there’s going to be another
spectacular attack…using price signals to determine the actions of
participants in the market, whether it be terrorists, or strategic
rivals of the United States…could you spot it? Could you get the
information and actually break up the plot and save American lives?
STEVE MEYERS: This system you built with
Project Prophecy actually predicted a terrorist attack that was thwarted in 2006.
JIM RICKARDS: On August 7, 2006, I got an email
from my partner. She said, “Jim, we’ve got a bright signal on American
Airlines. It looks like a possible terrorist attack.” We documented
that. I was up at 2:00 in the morning in my study, watching CNN, and all
of a sudden MI-5 and New Scotland Yard emerged to break up this
terrorist attack. They were arresting suspects and removing files, so
this showed that the system worked. However, it’s not just good for
predicting terrorist attacks, but also strategic attacks by rivals and
enemies of the United States.
STEVE MEYERS: For years now,you’ve been helping the
Pentagon and CIA prepare for a rise in asymmetric warfare and financial
threats, because today there are immense fears we’ll be struck by – as
you’ve described it before – a financial Pearl Harbor.
JIM RICKARDS: There’s now concern in different
branches of the U.S. government…Historically in Washington, the Treasury
and the Fed take care of the dollar. The Pentagon and the Intelligence
Community take care of other threats, but what happens when the dollar
IS the threat?
Americans generally know that:
- The Fed has increased the money supply by $3.1 trillion.
- We have $17.5 trillion of debt.
- We have $127 trillion of unfunded liabilities.
What are those?
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