The U.S. is the world’s largest economy, the dollar is the world’s reserve currency, and today’s guest explains “what happens here, doesn’t stay here.”
James Rickards, author of “Sold Out: How Broken Supply Chains, Surging Inflation, and Political Instability will Sink The Global Economy” says, “We’re heading for a very severe recession.” Rickards explains how Jerome Powell and the Fed’s rate hikes will throw the economy into a recession and by the time they realize it, it’ll be too late to do anything about it.
Host Robert Kiyosaki and guest Jim Rickards discuss Jim’s final two factors that will affect the global economy, and what you can do to protect your wealth.
The Devaluation of the dollar has been happening for the last 70 years or so, especially after 1971. The devaluation of the dollar is a monetary phenomenon and typically driven by lowering interest rates by the federal reserve to increase credit and liquidity. From the moment of the launch of quantitative easing (QE), worried investors have asked, will the U.S. dollar collapse? There are some probable scenarios that might cause a precipitous crisis for the dollar. The most authentic is the dual-threat of high inflation and high debt, a scenario in which increasing consumer prices force the Fed to raise interest rates sharply. Much of the national debt is made up of relatively short-term instruments, so a spike in rates would act like an adjustable-rate mortgage after the teaser period ends. If the U.S. government struggled to afford its interest payments, foreign creditors could dump the dollar and trigger an economic collapse. A reset means the banksters will have to increase the price of the gold.
They own tons of it so that they can cover their derivative positions … The global currency reset is needed to hinder the most significant and fastest increase in global debt in half a century from exploding … But for the average middle-class family or pensioner on Social Security, it will mean “huge inflation”… As the reset will imply “an exponential increase in the quantity of money” by the Fed (meaning high inflation in the prices of everything) … Excluding for maybe “some food items” that are subsidized by the government to impede people “with pensions linked to the chained CPI” from literally starving!!
When you weaponize a reserve currency for personal gain such as what Wall Street and The Fed have done, on behalf of corporate interests that provide little-to-no benefit to even your own population?
Your days are numbered.
The only thing that could ever collapse the dollar would be a sound medium of value – aka GOLD!
Third world garbage countries no doubt dislike being pushed around by the US. They also don’t like the continuous devaluation caused by printed the FAKE money that is the USD.
The only thing more unbearable for the other 140+ odd countries in the world would be to have their own budgets constrained by real money! So maybe the US is an abusive parent. But no country can EVER return to sound money. Not unless they abandon ALL social gibs budgetary black holes. And ask the French how easy that is to do. As Mr. Rickards points out, “Expectations of a Global Currency Reset emanate from the fact that monetary policies across the globe are unstable and unsustainable.” That is an absolute fact, but one has to be impressed with how long the system has lasted so far without collapsing. One of these days, the whole thing will crumble… it literally has to… but the bankers will obviously prolong it for as long as they can because their entire empire depends on it. This is the main point Jim Rickards keeps making, and he’s not wrong. My guess is that the longer they keep suppressing the price of gold and especially silver, the more likely it is that the currency reset will be an absolute mind-blower, a mega-shock probably happening so fast that the majority of people will never get the chance to ‘get back into gold or silver. 99% of people on the planet are going to get broadsided because they’re not even close to being the slightest bit knowledgable about the monetary system.
One day we will wake up and find out that the US dollar will be ‘re-attached’ to gold at the rate of $25,000 to the ounce. Or maybe the US Dollar will take the second seat to SDRs… it won’t really matter. Gold goes from $1200 to $25,000 in an instant and silver to $1,000 per ounce. Once that happens, 99.95% of people on this planet will have missed the boat (at least regarding physical).
Mining companies will be the biggest play of all because they will probably rise in value non-stop for a full decade. If anybody doesn’t understand why JPM has amassed the most massive hoard of pure silver in the entire history of the world, they’re not realizing that JPM is verifying what I just told you. The Fed and their puppets (congress) have refused to allow a full independent audit of all US gold reserves, including leasing and all encumbrances… last legit audit was during the Eisenhower administration. Any of you gold-haters wonder why? HINT: the USA has no gold left, and Munuchin, like all Goldmanites, is a stone LIAR. If/When China and/or Russia introduces a gold-backed currency… the dollar will collapse. So hang on to your dollars, you gold-hating douche-bags… it will be fun to hear your screams when economic collapse will arrive.
Are you prepared for the imminent economic collapse? We better hope that the U.S. economy holds together in 2023, because if there is any sort of major economic collapse much of the country is going to be broke almost immediately.
Today, close to half of all Americans are living on the edge financially. For many, it is out of necessity, but for others it is a conscious choice. Way too many people out there see no need to build up a substantial financial cushion because they have a tremendous amount of faith in the economic system. They don’t think that things will ever get too bad in this country, and so there is no urgency to put funds away for a rainy day. But even if authorities could somehow prevent an economic collapse from ever happening again, individual emergencies are taking place all around us on a constant basis. Cars break down, people get sick, and accidents happen.
Unfortunately, most Americans are completely unprepared for some sort of an emergency to strike. In fact, a brand new survey has discovered that just 41 percent of Americans could cover a $1,000 emergency expense using their current savings… So where would everyone else get the money for an emergency? Well, most of them would either borrow the money or get it from a relative. And usually an emergency costs a lot more than $1,000.
The bottom line is that most of the country is living paycheck to paycheck, and most Americans are just one small step away from financial collapse. Back in 2008 economic collapse, millions of Americans suddenly lost their jobs, and because so many of them were living on the edge financially a lot of them suddenly couldn’t pay their mortgages. You would think that we would have learned something from that very painful experience, but we didn’t. So we better hope that the U.S. economy remains relatively stable, because a serious downturn would be very ugly. Unfortunately, an increasing number of experts are warning that our luck is about to run out. In fact, the head of the IMF recently warned that we could potentially be facing another economic collapse and “Great Depression” .
That certainly doesn’t sound good at all. Here in the United States, most people have been choosing to ignore all the signs that the economy is starting to collapse. But as stores and businesses continue to close down all over the nation, it is going to become very difficult to ignore all of the empty buildings. For example, Macy’s just announced that they will be closing nearly 30 stores. And one of the most prominent mall retailers in the entire country has just announced that they will be closing 91 stores. Of course I could go on and on all day. Here are just a couple more examples of major retailers that are closing down stores… Bed Bath & Beyond is closing 60 locations, with the list being revealed Tuesday. And Schurman Retail Group plans to close its Papyrus and American Greetings stores, totaling about 254 locations, within the next four to six weeks. But despite all of the evidence to the contrary, the irrational optimists would still have us believe that America has entered a new era of tremendous economic prosperity. I actually wish that was true. Sadly, decades of exceedingly bad decisions are catching up with us in a major way, and instead of changing course we continue to steamroll toward a date with destiny.
Right now I am going to share with you the number one piece of advice that I give to everyone who asks about preparing for the great economic collapse that is ahead. Build up a financial cushion. When things get bad, you are going to need money. I know that sounds exceedingly simple, but obviously most of the country is choosing not to do this. Instead, most of the country is surviving from month to month with barely any money in their bank accounts, and so when economic disaster strikes they are going to be looking for someone else to rescue them. We have had more than a decade since the financial crisis of 2008 to prepare for the next one, but most people are acting as if the next one will never arrive. Unfortunately, the truth is that the next crisiseconomic collapse has already started, and businesses all over the nation are going bankrupt. But most Americans won’t realize what is happening until things really start getting out of hand, and by then it will be far too late to make any sort of preparations.
1. Real Estate prices are dropping due to decreasing sales activity, in spite of historically low interest rates.
2. New Construction starts have been declining for 18+ months.
3. Historical glut of vacant commercial real estate.
4. Personal debt for Americans has now reached an all time high; $38,000 per American adult. How much more can they “borrow and spend” to keep the economy going?
5. Europe’s economic powerhouse Germany is now in a recession, which will lead to continued slump in the EU. The Great Depression began overseas when the credit bubble collapsed. We could see a similar scenario play out.
6. Currency Wars often lead to Trade Wars which often lead to shooting wars. We are now in the 2nd. phase … will we reach the disastrous 3rd. phase?
7. America hasn’t been this divided since the Civil War. Social chaos is not “good for business.”
8. Socialism is seriously being offered as an “alternative” socioeconomic” system. Millions of young people now completely support socialism.
9. Economies around the world are dumping the US Dollar and buying gold.
10. Pension Fund crisis , with the majority of pension funds are severely underfunded, putting millions of retired and soon to retire Americans at risk. Honestly, this isn’t Rocket science people. The Dow going up 10,000 points in 3 years with no substantial change in goods or services to justify it is all the evidence you need.
The market is going to crash hard! It will drop at least 9,000 points when it does. We have never left the systemic crisis.
The systemic crisis was triggered by the globalization process driven by corporate finance and global oligopolies with the support of central banks. It was an operation that devastated the entire West socially and economically, compromising the stability of the nations that compose it. A crazy and wrong idea, now we will have to manage the consequences. Blanket trade tariffs on all Chinese exports to US as introduced by Biden will produce a recession and hyper-inflation on a grand scale. Not helping the situation BOEING now stuck to the ground in terms of new aircraft sales for some time as the lawsuits fly.
Biden would like to tariff the European cars adding to the sense the American leader getting more desperate by the day. The need for US Ucraina war seems conjured up to promote Biden as the leader of the free world at war and confirming his credentials for the job. China knows that Biden is making every attempt to humiliate China and not aware that his wild west actions will have dire consequences for the world economy.
How China retaliates and takes aim at his populist base; the working-classes and farmers of America. Every president doubled the debt they inherited.They have all spent like drunkards , and kicked the can down the road. Except Biden He kicks it down Death Valley . The FED doesn’t pay a single cent for the money it creates. Yet, they charge everyone to borrow it. That is their bread and butter. During periods of expansion they always claim inflation is the reason they need to hike, but the fact of the matter is in a expanding economy more cash is needed to facilitate translations of the every increasing amount of goods being created and sold. They get away with it every time, and when they do it, it puts a cork in the expansion and is usually followed by a slow down.
The FED is your problem, because they want to skim their profits off the backs of everyone for a piece of paper that cost them nothing to make. Moreover, the fed is a private enterprise, and they make a profit, yet they are not taxed for the income they make. You can’t audit them. The USA is today the most indebted and INSOLVENT country in the history of the world and all of that debt is coming crashing down all over the place. The only question is why interest rates have not soared upwards across the board to default levels, but that is what is coming next as much of the country veers towards and to default. Americans need to wake up and smell the coffee.
Europe and America are broke and poor and no amount of money printing will save them. The “High IQ” elites allowed a foreign hostile nation (China) to bait them into moving their industrial base there and giving away their manufacturing secrets all in the name of more profits. The very thing that caused Europe and America to rise to the top of the world is what was given away. Now the Europeans and Americans have a greatly diminished industrial capacity, few natural resources and a population that believes that they are entitled to be the best paid people in the world.
This is why the Right Wing continues to gain popularity.The Americans and the europeans are scared that they will soon be living like the “Third Worlders” who they have been looking down on for years. The Chinese have never forgotten the 100 years of shame and are slowly tightening the noose around the necks of the Americans ,flooding them with fentanyl and slowly destroying their economies. When the fiat currency runs out (and it will soon).We will be among the poorest in the world .
How To Prepare For The 2023 Recession
Whether a downturn happens in the next year or not, it’s important to be prepared.
Being prepared for a recession essentially means being ready to care for yourself and your family financially if your current situation is forced to change. Here are some specific recommendations:
Build your emergency fund
The number one thing you can do to prepare yourself for the next downturn is to save up a substantial chunk of money to serve as an emergency fund. Experts recommend keeping 3-6 months of living expenses in a high-interest savings investment account. This money should be sacrosanct; only to be touched in the event of an unexpected emergency like losing your job or having your hours at work severely curtailed.
A recession can compound the difficulty of losing a job because not only are you out your usual income but a sluggish economy may make it hard for you to get hired again at a similar salary. When you do find new work, you may be forced to take a pay cut or work more hours for the same pay, which will result in financial pressure unless you have savings to make up the difference.
Homesteading is the only (legal) way I know of to become almost completely self-reliant from the food corporations, the utilities companies, the Government and Big Pharma… by harvesting hundreds upon hundreds of dolars of organic food year-round, and collecting thousands of gallons of crystal-clear drinking water for free…
To take back your health by growing your own groceries, and making your own food out of basic ingredients, such as cheese, bread and even chocolate to name a few…
Then you could stockpile the excess produce for dark days… (The shelf life of ingredients is longer than that of the resulting foods, anyway…) So while other preppers pay thousands for overpriced, highly-processed “emergency food”, you’ll build your survival stockpile for free…
It’ll be like having your own personal supermarket just a few feet away from you… Though not the kind that sells processed meat full of hormones and steroids, veggies full of pesticides that have absolutely no taste at all, not to mention and all the other junk full of preservatives…
Examine your expenses
Considering that an emergency fund will only go so far to support you in the event of a job loss or pay cut, it’s good to make sure you’re living as lean a lifestyle as possible before the worst actually happens.
Make it a habit to sit down with your family and examine your spending to find areas where you can tighten your belt. Some items that may be on the chopping block are eating out, expensive clothes or gifts, extra spending on hobbies, and vacations.
Pay down debt
Working to pay down debt when the economy is booming is like doing your future self a favor. You can start paying extra capital while things are good to pay your debts off faster. You could consolidate loans to get a lower average interest rate or enter credit counseling if your debt is a burden. Getting your debt payments under control is essential, since having good credit will help you weather future financial storms.
A popular way of paying down debt is the “debt snowball” method, which involves paying off your smallest loans first to give you some early wins that can motivate you to tackle your bigger loans. Another option is the “debt avalanche” method, which has you pay down your debts with the highest interest rate first, no matter its size, and work your way down to the lowest-interest loan.
Gain employment and side-hustle skills
One of the major concerns people have about recessions is the potential for job loss. Layoffs are common when the economy takes a nose-dive, and getting a new gig can be tricky when no one’s hiring. One good thing to do while the economy is healthy is to pick up some in-demand skills or credentials to make yourself more attractive on the market in case you need to look for a new job in a down economy.
Another option is to pursue skills that can be done as a freelancer so you’ll be able to find smaller jobs as a stopgap if your main income source dries up. Once you’ve got those skills, you can use them as a side hustle to earn extra income that you can stash away in your emergency fund or use to pay down more of your debt.
Set up access to additional credit
Along with recession-proofing your job skills, it can be a good idea to enhance your financial resources for potential future need. You can access additional credit through a home equity line of credit or some new credit cards with higher limits. Keep those resources open and don’t use them before you have to.
If you have credit card debt already, it is a better idea to pay those down as fast as you can to free up credit than to apply for new credit cards. Consolidating your credit card debt using a personal loan that allows it is another good way to increase credit flexibility while also reducing your average interest rate.
Carnivore’s Bible (is a wellknown meat processor providing custom meat processing services locally andacross the state of Montana and more. Whether your needs are for domestic meator wild game meat processing)
The Lost Book of Remedies PDF ( contains a series of medicinal andherbal recipes to make home made remedies from medicinal plants and herbs.Chromic diseases and maladies can be overcome by taking the remediesoutlined in this book. The writer claims that his grandfather was taughtherbalism and healing whilst in active service during world war twoand that he has treated many soldiers with his home made cures. )
The Lost Ways (Learn the long forgotten secrets that helped our forefathers survive famines,wars,economic crisis and anything else life threw at them)
LOST WAYS 2 ( Wordof the day: Prepare! And do it the old fashion way, like our fore-fathers did it and succeed longbefore us,because what lies ahead of us will require all the help we can get. Watch this video and learn the 3 skills that ensured our ancestors survival in hard times offamine and war.)