Thursday, February 12, 2015
$100 Trillion American Economic Collapse with Jim Rickards
According to one of the top minds in the U.S. Intelligence Community, that is when the United States will enter the darkest economic period in our nation's history. A 25-year Great Depression. Does This Signal the End of the Dollar? 25 Year Great Depression An alarming pattern has caused many in the Intelligence Community to secretly prepare for a "worst-case scenario." Click here to see it…. And alarmingly, he and his colleagues believe the evidence they've uncovered proves this outcome is impossible to avoid. In an exclusive interview with Money Morning, Jim Rickards, the CIA's Financial Threat and Asymmetric Warfare Advisor, has stepped forward to warn the American people that time is running out to prepare for this $100 trillion meltdown. "Everybody knows we have a dangerous level of debt. Everybody knows the Fed has recklessly printed trillions of dollars. These are secrets to no one," he said. "But all signs are now flashing bright red that our chickens are about to come home to roost." During the discussion, Rickards shared a series of dangerous signals he fears reveals an economy that has reached a super critical state. One of the signals the CIA is most concerned with is the Misery Index. Decades back this unique warning sign was created for determining how close our country was to a social collapse. It simply adds the true inflation rate with the true unemployment rate. However, the Federal Reserve has repeatedly changed the way the Misery Index has been calculated over the years. Which Rickards believes is now being used to cover up the true scope of the problem. Long-term Economic Depression "Today you rarely hear the government talk about the Misery Index with the public," Rickards said. "The reason is they may not want you to know the truth. And the truth is, the Misery Index has reached more dangerous levels than we saw prior to the Great Depression. This is a signal of a complex system that's about to collapse." Frightening: Single chart reveals which banks could collapse (and how soon). If your life savings is in a major bank, please look at this now. During the shocking interview Rickards revealed the 5 dangerous "flashpoints" the Intelligence Community is closely monitoring that they believe will unleash this catastrophe. And he also described how it would all unfold. "I expect the first phase will appear as a nearly instantaneous 70% stock market crash. From the outside, nobody will see it coming." Rickards explained. "Once it becomes clear that it's not a flash crash – it's a systemic meltdown in the economy itself, that's when the gravity of the situation will sink in. And there will be no digging out from it. "$100 trillion is a conservative estimate for the damage. A lot can happen over 25-years as our country struggles to recover from this."