"An Economic Pearl Harbor Is about to Strike America."
The CIA enlisted James Rickards to investigate the last direct attack on our country and economy -- on 9/11. And now Rickards has joined those who believe the outcome of the next attack on our country could be as severe as the Great Depression. He says that barring a miracle, our already fragile financial system will collapse and in the process destroy the wealth of tens of millions of Americans.
The $50 trillion lost in our recent (and for most people still continuing) recession could be just a drop in the bucket by comparison. Picture, as Rickards does, $100 trillion vanishing from Main Street America and our economy. Picture investment accounts crumbling into ashes, impoverishing even many of the wealthy, as the stock market suddenly plunges 50%, with no floor in sight . Picture inflation hitting extreme levels that make the 1970s inflation look like a pleasant memory, as what's left of the dollar is eradicated.
In addition to being a top-security adviser to the Pentagon, CIA, Department of Defense, and the Director of National Intelligence , Rickards is also a respected Wall Street lawyer and former investment banker who spent 35 years on Wall Street.
Before 9/11, Rickards was called upon by our government to intervene in some of our recent history's most important events. For example, the government placed him in the heart of the negotiations to free 52 innocent Americans during the Iran hostage crisis that endured for 444 straight days, from 1979 through 1981.
Then, in 1998 the large hedge fund Long-Term Capital Management (LTCM) almost single-handedly destroyed our economy when its trillion-dollar exposure to risky investments threatened to unleash a financial catastrophe not seen in the previous 60 years. T he Federal Reserve later stated that if LTCM had been allowed to collapse, our nation's meltdown could've happened in 1998 instead of a decade later. Rickards played a major role in stopping it from happening in 1998 when he was recruited to work with the major banks to avert bedlam.
A few years later, Rickards' expertise in Middle Eastern financing, and his ability to operate in secrecy, resulted in top CIA officials placing him in the center of an investigation into certain aspects of the cryptic events surrounding 9/11. The CIA enlisted him to examine terrorist ties to a large block of insider trading that occurred on Wall Street just prior to the attack.
Because of the direct loss of innocent lives, we don't often stop to think that 9/11 was also a strike on our economy. In fact, Osama bin Laden even stated, on numerous occasions, that economic and financial damage to the US was one of his top priorities. All in all, we lost $6.4 trillion when you factor in the loss in market wealth, plus the costs of the wars in Iraq and Afghanistan that followed.
The first signs of financial and economic instability and the ignored warnings
In 2005 Rickards began to see that our economy and financial markets had become unstable and were headed toward a code red status. So he began briefing the Treasury on a regular basis. But w hen, to their surprise, he began making accusations against the very people to whom he was reporting, at Treasury and the Federal Reserve, his message was shunted aside. His concerns reached a boiling point at a Treasury meeting when he declared that, with respect to the national and financial security of the United States, Ben Bernanke had become more dangerous than al-Qaeda.
Then recession struck, just as Rickards had predicted. And now he is seeing those code red warnings again. But this time the signals are twice as strong. And they are exposing a frightening revelation that could, and should, bring down many powerful people. He has uncovered evidence suggesting that for the last few years the U.S. government and Federal Reserve have been covertly working together to commit an unspeakable kind of economic attack against not only other nations, but American citizens as well.
As one would hope, he rushed to discuss his findings with both the Senate and House of Representatives. However, when Congress heard that the blame didn't fall on a Middle Eastern country or on a corrupt Wall Street firm, or a terrorist group, but instead fell on people who are considered to be America's leaders -- some of whom were present at the time of his testimony -- they didn't want to hear any more.
Finally Rickards, well known to top Pentagon generals, shared this intelligence with them, whereupon he was immediately taken to a top-secret facility in Maryland -- the Pentagon's Warfare Analysis Laboratory -- and was asked to carefully and completely lay out this so-called "Economic Pearl Harbor" scenario that allegedly stems from a financial war that our very own leaders have (inadvertently?) started, and which is now precipitating a global counterattack that nobody on Capitol Hill, at the Treasury, or at the Federal Reserve wants to hear about, acknowledge or think about.
Rickards then described to the generals a situation that could eventually escalate into military conflicts with China, Iran, or Russia, and possibly all three. At the heart of this situation is what Rickards calls a global currency war, which, he told them, we are very likely going to lose.
To out this critically important story, the financial publisher at Newsmax commissioned an Emmy Award-winning director to follow Rickards and a team of economists that includes the chairman of Forbes Media, global market specialist Sean Hyman , and Bob Wiedemer , the author of the New York Times best-selling Aftershock , a book about the imminence of this next global financial meltdown. Together they have, in a documentary film -- watch it here -- discussed and fully exposed this threat to our country.
Rickards believes the Federal Reserve, and our government, have backed themselves into a corner, and now realize that they've not just overseen the massive growth of our debt but also the simultaneous crippling of our "Main Street" economy. They are finally beginning to understand that this is why we are not seeing a real recovery from the recession: Too many Americans have lost good-paying jobs, their life savings, and their investment portfolios, and as a result they are no longer spending nearly enough to bring the economy back to life. Yes, the top one or two percent are doing fine, but that's not enough to bring the Main Street economy back.