James G. Rickards helped save the financial system from collapse in 1998…warned Washington officials in 2006 of the coming $12.6 trillion mortgage meltdown…and confidently forecast Trump and Brexit when all the polls pointed the other way.
And he’s returned from a remarkable fact-finding mission. One that led to face-to-face meetings with some of the most powerful elites on the planet…and one terrifying realisation…
Former Fed Chair
At The Pentagon, Arlington County, Virginia
Jim is now convinced…
‘When the next crisis hits, the elites are planning to
freeze the financial system, and they’ll replace it
with a new system, one not based on the US dollar.
‘When that happens, we’ll wake up to a
very strange and disturbing new reality…’
What goes up must come down.
Anyone with a passing knowledge of financial history knows that.
And, at the dawn of a new decade, here is where we find ourselves…
What follows, though, is not another banal warning of a market crash.
Anyone with a brain can see that coming.
Will it be sparked by the human and economic cost of the Coronavirus pandemic?
It's a growing possibility.
But, whatever the catalyst for a crash is, history shows it's coming.
The dizzying heights this record bull market has hit can’t continue indefinitely.
Especially since asset prices have been inflated by an increasing feeling of investor invincibility…
…insanely low interest rates…
…the proliferation of passive investing strategies…
…and never-ending QE (quantitative easing).
What few realise is that the 2008 global financial crisis never actually ended.
We are still living it 12 years on.
Efforts by central banks first to prevent a complete collapse of capital markets — and then to revive self-sustaining growth — are, paradoxically, going to make the next meltdown even worse.
As you can see, we are now in one of the biggest booms in modern history:
So let’s be real.
A reckoning of some sort is coming.
Convincing you of that is not the point of this letter.
You don’t need a Nobel Prize in economics to sense it. (Whether it’s going to be as bad as or worse than that horrendous 1929 dip you see above is another matter…)
Instead, we’re going to look at something else.
A rare event that may well lie at the centre of the next looming great financial reset.
The last time an event like this happened was over three decades ago.
On 22 February 1987, to be exact.
Known as the Louvre Accord, it took place at the Louvre in Paris.
It was a relatively low-profile meeting attended by finance ministers and central bank heads of the US, UK, France, West Germany, Canada and Japan. It was meant to coordinate economic policy around the globe.
Instead, as the LA Times put it, it was the foundation for the great market bubble that resulted in ‘Black Monday’ when markets around the world did this…
In this report, you’ll see that it is very possible another event of this nature is about to take place.
The financial system has exhausted itself.
Debt, deficits and demographics mean we’re at the end of its tether. What you’ll discover in this letter is that the elites — those who make the rules of the game — are not stupid.
They see what’s coming.
And they’re going to do everything in their power to ensure it’s YOU…not them…who suffers the consequences.
To see what I mean by this, you need just look back at the most recent ‘dress rehearsal’ for this event: Greece’s financial crash in 2015.
The ECB (European Central Bank) and IMF (International Monetary Fund) forced a bailout package on the Greek people.
As economist Harry Dent described:
‘The nearly $300 billion record bailout was designed for one purpose: to bail out the banks and financial elites. It combined the worst of free market capitalism austerity with the high taxation of social democracy.
‘None of the money went towards social programs or infrastructures that could’ve helped the Greek people or the economy.
‘Instead, it was used to pay back loans to the banks.
‘The taxpayers of Eurozone countries – like Germany and France – paid to bail out banks that made bad loans.’
Picture a heist like that, carried out by the elites, but on a GLOBAL scale.
That’s what we’re going to be talking about in the pages that follow.
Before we go any further, though, I’ll expand on that term ‘elites’.
Because it’s bandied around quite a lot. But often without a clear explanation.
And you’ll see the term ‘elites’ quite a lot in this letter.
Wikipedia isn’t right on everything, but in this instance it’s on the money:
‘In political and sociological theory, the elite (French élite, from Latin eligere, to select or to sort out) are a small group of powerful people who hold a disproportionate amount of wealth, privilege, political power, or skill in a society.’
This is no conspiracy theory.
These people exist.
They hang out with each other. And they plan.
And right now, those who run the game know they haven’t achieved a permanently stable financial system.
They know there is no such thing as a ‘magic money tree’.
One that makes stock and house prices keep rising. Despite soaring debts, ongoing trade wars with China, and increasing signs of an impending economic recession.
As the time of writing, stock markets even seem to be stubbornly holding firm even as we're on the precipice of a global flu pandemic!
This is not natural. It's the work of elites pulling strings behind the scenes for years.
And they know exactly what they’ve done.
And what’s coming as a result…
The event I’m talking about will be their attempt to protect themselves from their own reckless actions.
It’s happened five times before in the last 97 years.
I believe it’s long overdue to happen again.
The international monetary system in 2020 is a patchwork of soaring equity markets, floating exchange rates, hard pegs, dirty pegs, currency wars, open and closed capital accounts, and sky-high sovereign debt.
It is unanchored. It is incoherent.
It is due a reset.
What do you do when your computer gets this mucked up?
You restart it.
Begin again from scratch.
The elites have done this five times in the last hundred years.
I believe it’s about to happen again.
And I want to show you what this reset might look like.
You might think: ‘What do I care? How on earth do the actions of monetary elites on the other side of the world have ANYTHING to do with me, my wealth and my future here in Australia?’
I’m convinced what follows will be extremely useful for you.
For one, because you won’t be blindsided.
If the scenario I’ll describe to you plays out (and it IS an ‘if’; nothing is certain here) you’ll remember: ‘Ah! Yes! This is why this is happening. This is why I shouldn’t panic. And this is how I should react to it.’
I’ll show you exactly how those who control the game (senior IMF position holders, central bankers, those at the top of the World Bank) are likely to react as markets start to implode (and take actions that will cause untold harm to the average investor.)
And how they’ve actually been working for years towards this moment.
What the financial landscape might look like after they ‘flip the reset switch’ — and the specific implications for the Australian economy.
But most importantly, I’ll show you some practical precautions you can take now to preserve your wealth, no matter what happens.
Those alone are reasons to read on.
But there’s another compelling reason to take this letter very seriously.
The contention is not that we’re going to see another 2008-style crash. It’s that a historic event is about to take place using the coming crash as camouflage. And that this will change the financial system as we know it.
If this warning is correct, it means the next worldwide financial crisis could be qualitatively different from anything you’ve experienced in your lifetime.
It may well be triggered in the next few months by a failure to contain the Coronavirus. That's the mostly likely catalyst right now. But it could be something else. Most crashes are caused by 'unknowns'.
This one, though, will encompass multiple asset classes on a global scale.
It will unleash inflation not seen since the 1970s, insolvency not seen since the 1930s, and exchange shutdowns not seen since 1914.
Far, FAR more ‘ordinary person wealth’ will be destroyed than in 2008, 2000 and 1987. As a result, here in Australia, state power could even be summoned to contain panic.
Not only will this next reset last much longer than the Great Depression, this crisis will be historic for another reason.
A network of elites will use it as cover.
And many ordinary investors who don’t see it coming — and take the right precautions — will be badly, BADLY hurt
Those are the stakes.
And I’m sure much of that might sound beyond hyperbolic to you.
But just stay with me a little longer.
Because what’s important to note is this ‘reset event’ warning doesn’t actually come from me…
Before we begin, I want to show you why, when James G. Rickards issues a solid, specific and new warning…you better listen…
Jim has access to some of the highest-level policymakers on the planet.
In 1980, he helped the Carter administration negotiate an end to the Iran hostage crisis, saving 53
In the 1990s, Jim helped the Fed wind down Long-Term Capital Management, averting a collapse of the global financial system.
After 9/11, Jim was tapped by the CIA to assist on a counter-terrorism project called Project Prophesy. He created a system to detect terrorist attacks before they happened by decoding complex financial signals.
I’m guessing that much of his work here remains classified.
But I can tell you that on 7 August 2006, Prophesy’s system uncovered warning signs of an impending terrorist attack. Three days later in London, a plot to blow up 10 US passenger jets was thwarted. Twenty-four Pakistani extremists were arrested.
In 2005 and 2006, Jim went on a lecture tour, warning of a new looming financial crisis. In an interview with Business Insider, he later explained:
‘I went down to the Treasury and said “look, this crisis is going to get worse, here’s what you need to do: call all the hedge funds, tell them to give you all their positions in machine readable form, put it into a matrix, hire IBM Global Services.”
‘I was completely ignored...’
We all know what happened next.
The result was the worst financial crisis since the Great Depression.
According to Jim, a new crisis looms.
One that, this time, could actually shut down the world’s major banks.
‘“And that’s what I expect will happen. They’ll close exchanges, close banks, close ATMs, freeze accounts.”
‘When people say that will “never happen”, Mr Rickards explained it has happened many times before including Cyprus, Greece and Argentina.
‘He added it also happened in the US in 1933, when US President Franklin D Roosevelt ordered every bank to close.’
The core point, says Rickards, is that the problems that caused the last crisis were never resolved.
‘They haven't solved the problem... They’ve just moved it upstairs. Well, now they're in the penthouse.
‘...The modern monetary theorists are saying there’s no problem, but they’re wrong. It’s not a legal issue. It’s a confidence issue.
‘There's an invisible psychological boundary and once you cross it, people lose confidence in the dollar itself. That’s what we're facing.’
Look, if you take one thing away from this report, make it this:
The international monetary system has collapsed three times in the past 100 years, in 1914, 1939 and 1971.
It’s been over 40 years since the last collapse.
These things do seem to happen every 30 or 40 years. That’s just based on experience.
That seems to be the useful life of the international monetary system before it is RESET.
Now, that doesn’t mean that it will collapse like clockwork tomorrow morning.
We’re not saying that.
Just that the evidence is that we should expect this or at least not be surprised if it happens sooner than later.
Does that sound far-fetched to you? Well, keep in mind:
On US Election Day in 2016 Jim Rickards was up early.
It was 4:00am. Polls were about to open.
And Rickards was having makeup applied to appear on live television on the Bloomberg network.
He then sat there patiently as several pundits before him predicted an easy Clinton win.
Then, as soon as the camera was on him, he predicted the unthinkable: Trump would win.
‘So you don’t believe the polls???’, the incredulous anchor asked.
Rickards said it would be close (it was) and election-watchers would be up late (they were).
But — contrary to what virtually every poll, political scientist and statistician on the planet was saying — the world should get ready for President Donald J. Trump.
That morning, polls and prediction markets were giving Hillary Clinton a 91% chance of winning, with Trump’s odds at only 9%.
Hillary was going to easily bag the swing states of Michigan, Pennsylvania and Wisconsin.
Except, as Jim Rickards predicted that morning, she didn’t.
Rickards did the same things several months earlier, on 20 June 2016.
It was three days before the Brexit referendum in the UK, and Jim stood, again in front of a camera, in a capsule on the London Eye Ferris wheel.
He said UK voters would vote to leave the European Union.
And he recommended investors buy gold and short sterling.
Bookmakers…who’re supposed to have a pretty good idea which way the wind is blowing…had a Remain win by 80%.
Leave won, exactly as Jim predicted.
The point of these examples is that they were not lucky guesses.
Jim was not taking a view contrary to the consensus just to be contrary.
In both cases, Trump and Brexit, Jim Rickards got the forecast right by using the right models…and refreshing the output with continual updates from new data.
Much of this data was anecdotal. Meaning: Data gathered from Jim’s numerous connections in the upper echelons of politics and finance.
Conventional statisticians reject anecdotal evidence.
Because it cannot be quantified or repeated.
According to Jim Rickards, more fool them.
Anecdotal evidence is extremely powerful when added to a Bayesian equation (which Jim uses to make his forecasts).
Why do I bring this up?
Because Jim Rickards is now making another ‘far-fetched’ prediction.
Like Trump and Brexit, few see it coming.
Unlike Trump and Brexit, this shock event is not political, but financial.
If Jim is right, you shouldn’t face this threat unprepared. So, I’d like to show you what it is, how it could play out, and how to position your portfolio for it.
What is this mysterious world-changing event that both Jim and I are convinced is coming?
Jim and I call it:
Of course, there’s no way of knowing for certain if it will happen this year.
It depends very much on whether markets finally reach their tipping point.
But, as you’ll see, we’re convinced the planning stages are very much underway…
My name, by the way, is Nickolai Hubble.
I work with Jim Rickards as investment editor of his newsletter, Jim Rickards’ Strategic Intelligence.
I’m also the chief strategist of UK’s iconic Fleet Street Letter Monthly Alert.
The Fleet Street Letter is the oldest investment letter in Britain and, like Jim, has a track record for pinpointing big turning points in history.
In 1938, for example, after a fact-finding mission inside Germany, Fleet Street Letter editor of the time, Patrick Maitland, predicted war in Europe within a year, while everyone else was in denial.
‘Appeasement will not work,’ he warned… ‘War is coming to Europe, but not until September at the earliest.’
On 1 September 1939, Hitler invaded Poland. Two days later, the Second World War began, exactly as Maitland foretold.
Jim and I share a deep appreciation of the value of anticipating great turning points before the mainstream.
So, when I got the call a few years back to collaborate with him, I didn’t hesitate.
And, as I say, we believe another historic turning point is imminent.
Jim is convinced. And now I’m a true believer as well.
For a while, we just vaguely called it ‘the coming reset’.
But now I think it’s much closer than I initially thought.
So, I’m now calling it RESET 2020.
Not that we know for certain it will happen this year.
But with the world confronting the frightening outbreak of Coronovirus...and the financial contagion that could follower...we believe it could well be imminent.
Every few decades, you see, the world’s financial system goes through a reset.
Just before a complete collapse, the powers that be come together in an obscure place and hash out the terms of the new currency system.
That new system usually gets named after the random place they decided to meet.
Towards the end of the Second World War, it was Bretton Woods in the US state of New Hampshire.
But trade imbalances and the outflow of gold under the Bretton Woods system forced the Smithsonian Agreement and the Jamaica Accord in the 70s — two more resets that gave us floating currencies.
The Treaty of Versailles was one they got wrong, with disastrous consequences.
These are just some examples from the 20th century. But the history of financial system resets goes back much further.
Ever wondered what ‘wiping the slates clean’ really means?
Ever bothered to find out what’s written on the Rosetta Stone — the key that allowed us to unlock the secrets of ancient languages?
These refer to ancient financial resets.
The world used to know them as debt jubilees — when all the debt record slates were wiped clean and all debt slaves were released from their bondage.
These resets occurred for the same reason as those last century — to prevent a crisis and the uproar that goes with it. To create a new workable system.
And…most importantly…to ensure the elites that make the rules STAY elite.
Again — I just want to clarify what I mean by ‘elite’.
These are not mysterious, Illuminati-type figures.
These are people with power and means (some of them names you’ll know) who run the institutions that form a kind of global superstructure.
THE FIRST RESET?
The Rosetta Stone records the achievements of Egyptian pharaoh Ptolemy V.
These include something called a ‘debt jubilee’. It records how Ptolemy declared all debts, then known as ‘slates’, to be ‘wiped clean’. And all debt slaves, known as ‘peons’, were freed.
This superstructure is like a snare net encircling all nations.
The people who run it aren't democratically elected. They're not accountable to you and me. They're beyond the reach of government and citizens, and yet they hold the fate of the global financial system in their hands.
According to Jim Rickards, a shortlist of these people just from the world of central banking and foreign relations would include:
‘To get a sense of how they operate, imagine an array of floating spheres. One sphere is labeled IMF, one is labeled Fed, one is labeled Bilderberg, one is labeled Wall Street, one is labeled Central Banks, one is labeled Intelligence Agencies, one is labeled media, and so on.
‘The elites inhibit all of these spheres, and together the network forms a kind of 3D Venn diagram. As I see it, regardless of what sphere they inhabit, the elites all share the same vision, One World Order, One World Taxation, and One World Money. All of their actions are geared toward moving that agenda forward.’
– Jim Rickards
Throughout history, people like these have picked certain times when they RESET the global financial system.
At some point, a reset of the financial system becomes preferable to the status quo.
It might be that the level of debt is just too high to service. Or perhaps a government printed too much money. (Doesn’t it feel like we’re well past that point already…?)
In 1971, it was the American trade deficit that led to an outflow of gold.
Whatever the threat, a reset comes when a financial system hits its limits.
As Jim details in his book (details to follow), Reset 1922 was the first really effective reset that the elites pulled off last century. It was the Genoa Economic and Financial Conference.
Thirty-four nations participated in the conclave, held in the Palazzo di San Giorgio in Genoa, Italy.
Post World War One, this reset featured the economic reconstruction of Europe…and the status of reparations and relations with the relatively new Soviet Russian regime.
The next reset was the biggest of the 20th century.
RESET 1944 was the United Nations Monetary and Financial Conference of 44 nations, better known as Bretton Woods.
You’ll probably recognise the name. It was held at the Mount Washington Hotel in Bretton Woods, New Hampshire.
To say the Bretton Woods system established a new monetary order is an understatement.
This was where the elites ensured everything would stay in their favour for the next 70 years.
In one meeting, they set up a new system of rules, regulations and procedures for all the major economies of the world.
The aim stated in the press was ‘economic stability’.
It always is!
But Bretton Woods established the International Monetary Fund (IMF) and the World Bank…and in doing so created the actual institutions that could formally carry out the next reset when needed.
JIM RICKARDS BELIEVES THAT NEXT RESET IS COMING.
AND THAT THOSE WHO DON’T PREPARE FOR IT COULD LOSE OUT BIG-TIME.
Have you ever pondered how the world can continue to borrow more than it could ever repay?
Do you think that countries like Greece and Japan will honour their debt mountain forever?
What will happen to the student loans that cannot be repaid? Will younger generations always agree to be debt serfs to banks for decades just to own a house?
China's economy is cratering because of the flu outbreak. Consumer spending is stalled. Wuhan, a crucial manufacturing city responsible for 4% of China's GDP, is a ghost-town. Can the world financial system withstand an outright China crash?
How long can stock markets just keep rising and rising and rising and rising?
If you’re wondering how it all will end, a global financial reset is your answer.
Most likely in the midst of financial chaos — or, less likely, but still possible, right before it — the elites will simply propose a new system entirely.
This is something Jim Rickards and I feel in our bones is about to happen.
Whether that happens in the midst of the next big crisis…or before it…is not that important. (Although Jim believes this next reset event…what he calls the ‘Mar-a-Lago Accord’…could be a rare one that happens RIGHT BEFORE this bull market ends…)
The point is: History shows we’re due a reset.
The thing to know about these momentous events, when the rules of the game of economics are rewritten, is that they cost some people their entire wealth.
The Great Recession was really just a preview for what’s coming.
But, even then, the domino effect of the Lehman Brothers bankruptcy caused a wave of wealth destruction in America and around the globe.
All told, losses from that ‘preview’ are estimated at US$10 trillion. That’s more than a sixth of the global gross domestic product in 2008.
Imagine what the main event might look like…
The Great Depression probably gives you a better picture of that.
That truly was a life or death financial calamity.
As economist JK Galbraith put it: ‘Some people were hungry in 1930 and 1931 and 1932. Others were tortured by the fear that they might go hungry.’
A mammoth 90% was wiped from the New York stock market.
At one point, 32 million Americans alone had no income at all!
By 1933, one in three breadwinners were unemployed in Australia.
Income from Australian exports cratered. Local industries came to a standstill.
Government slashed spending by 20%.
‘Should men now go without the necessities of life in order that the international money ring should have its pound of flesh?’ Labor premier Jack Lang asked at the time.
This is the wealth destruction that occurs when the elites come for their pound of flesh.
There are things you can do to give you a good chance of that not happening to YOU. To protect yourself…even as the bread lines and dole queues grow…
We’ll get to them soon.
You can potentially enhance your personal portfolio to a great degree…even as others are having their wealth eroded.
I’ll get to specific moves in a second, too.
But, above all, you need to try and get an idea of what the world might look like in the aftermath of a reset event. And arrange your portfolio accordingly. Most importantly:
The next big crisis that heralds the reset, when it comes, will be fully global.
That’s not a contentious thing to say.
All the seismic corrections tend to be felt everywhere on the planet, to varying degrees.
But we believe you’ve never experienced anything like what’s about to happen in your lifetime.
This is how Jim sees it panning out (and I agree):
First you have the initial domino event.
Second, the dominoes will go from falling in an orderly way to a series of collapses.
The markets will crater (Jim thinks by around 60-70%).
Gold will spike to $5,000 an ounce or higher.
Treasury yields will go deep into negative territory.
And THAT’S when the elites will enact their reset.
Freezing the global financial system from the top down. And wiping the slates clean…
Starting in the United States and spreading outward, according to Jim, people will lose access to their money.
That’s right. You won’t be able to get to your money.
If this reset plays out as we predict, it will mean total lockdown of the financial system.
In the 2008 crisis, governments met the demand for liquidity by printing money, guaranteeing banks and money market funds, and engaging in trillions of dollars of currency swaps.
The problem is that the central banks still haven’t normalised their balance sheets and interest rates since the last crisis. And it’s virtually impossible to do so now.
Money printing won’t be an option. Because central banks have printed too much already. Any more money printing would trigger a complete loss of confidence in fiat money and a mad scramble for hard assets.
Instead of money printing, Jim reckons the elites are planning something else.
A total lockdown of the system. One that will not let investors get their money out.
‘This will begin with money market funds and then spread quickly to bank accounts, ATMs and stock exchanges until the entire system is frozen.
‘Then an international monetary conference will be convened to create a new global monetary standard, probably based on special drawing rights (SDRs), which will be printed by the trillions and handed out to governments to gradually reliquify the system.
‘Governments can see this coming and are already taking steps to prepare for more extreme measures.’
Yes. I know. That sounds crazy.
But I have to draw you back to the ‘crazy’ things that Jim has gotten 100% right before.
People thought The Fleet Street Letter was ‘crazy’ in the 1980s when it predicted that China would become an economic powerhouse.
At the time, it was one of the most impoverished nations on the planet. But it happened.
And, as I’ve shown you, RESETS happen too.
History says we’re due one.
And, if it happens, you better bloody make sure you’re on the right side of it!
There are two ways to do this.
The first is to own assets unaffected by monetary chaos and government decree.
It’s unlikely the government will ever confiscate your home or ounces of gold you own in secret. The price of both might surge or tumble, but you’ll own a hard asset either way.
Assets held in the financial system are at risk. That means not just your stock portfolio, but the money you hold with a bank.
Just look at what happened to people in Cyprus in 2013. A chunk of their bank deposits were used to bail out the bank!
Or in Argentina in late 2001, when government froze bank accounts and forbade withdrawals for a FULL YEAR!
Whilst we’re not suggesting this is likely to happen in Australia, this is an historical example of what’s possible.
At the very least, you need to think very hard about how much of your wealth is tied to the stock market. And how much could vanish in a truly historic reset event.
Australia didn’t have a fully developed stock market in 1929. Nowhere near as many ordinary Australians were stock investors then.
But America did. And a repeat of the collapse on Black Tuesday is almost impossible to imagine here, today.
As History.com writes: ‘Billions of dollars were lost, wiping out thousands of investors, and stock tickers ran hours behind because the machinery could not handle the tremendous volume of trading.’
And they kept falling.
At the bottom, some investors had just 10% of their stock portfolio remaining. I’m not saying for a second it will be that bad.
But you need to know that these losses have occurred in history. And history shows we’re due a reset event.
You also need to think about owning things the government need not know about, and things that are unlikely to be taken from you.
Then there’s the second thing you can do…
And that’s take a ‘barbell approach’ with your investment portfolio. One that means having some protection at both ends.
A post-reset world could be of deflation OR inflation. So you need deflation protection AND inflation protection at the same time.
We are in unprecedented times.
This means you have to be nimble, and you have to watch the data as things play out. You can’t put a stake in the ground around one particular outcome because the chance of getting blindsided is high.
For this reason, I believe you need a ‘barbell’ portfolio.
We’ll get to that later.
But for now, just know this…
This reset event could be hosted in a variety of big-name places.
Davos, the G20 in Riyadh, or at a Bilderberg Meeting.
As you’ll see in a second, Jim Rickards — who, I’ll remind you, has gotten so many contentious predictions right — believes the next venue could be Donald Trump’s Palm Beach resort, Mar-a-Lago.
It’s the perfect international monetary reset location.
Built by Marjorie Merriweather Post in 1927, it’s now a national historic landmark owned by Trump.
There would be some irony in the selection of Mar-a-Lago.
The Mount Washington Hotel in New Hampshire, site of the Bretton Woods Conference in 1944, is also a US national historic landmark. At the time of the conference, it was owned by New Hampshire Senator Charles Tobey, a personal friend of President Franklin D. Roosevelt.
Before the Bretton Woods location was decided, British economist John Maynard Keynes begged his US counterpart Harry Dexter White not to have the conference in Washington.
Keynes had a bad heart. And in an age before air conditioning, the summer heat in Washington was insufferable.
Keynes’ request was allowed.
The cool White Mountains of New Hampshire were selected.
If Keynes were alive today, he would no doubt approve of the cool sea breezes of Mar-a-Lago as well.
The ornate gilded halls also bear a passing resemblance to Italy’s 13th-century Palazzo di San Giorgio, site of the Genoa Conference in 1922.
But even if it doesn’t happen there, Rickards and I are certain it’s coming.
And it will come out of nowhere.
The Mar-a-Lago Accord, The Davos Accord, The Riyadh Treaty or The Bilderberg Agreement will establish the new financial order — overnight — in the face of chaos.
It might be a global currency, like The Economist magazine predicted this year.
Or the end of the fiat currency experiment and a return to gold, as Jim Rickards has long predicted.
Or perhaps the elites might harness the power of the blockchain, as some countries are already exploring.
China’s secret gold purchases and Germany’s gold repatriation from America suggest where they’re putting their money.
Russia and Singapore are looking at blockchains and digital currencies.
Elites are on the move…positioning themselves for the coming reset.
They won’t admit it publicly — but they know the financial system is now completely messed up.
They won’t admit it because they’re responsible.
But, according to Jim, in elite circles it’s being feverishly debated.
‘Incoherent is the exact word used by both Ben Bernanke, former Chairman of the Federal Reserve, and John Lipsky, former acting Managing Director of the IMF in separate conversations with me,’ says Jim.
‘I spoke to Bernanke in Seoul, South Korea on May 27, 2015 and to Lipsky just a few months later in New York City. Each used the world “incoherent” to describe the international monetary system. I’ve never heard either one of them use that word publicly.’
The point is this…
Whatever new system they choose to make things ‘coherent’ again, you need to be ready.
Because the shift will be swift and firm.
It will, most likely, come right out of the blue.
But what, specifically, could it mean for you and your wealth?
To be clear:
Jim Rickards isn’t the first to posit that this reset is imminent.
Prominent economist Judy Shelton wrote a 2018 article in the Cato Journal called ‘The Case for a New International Monetary System’.
‘Today, there are compelling reasons - political, economic, and strategic - for President Trump to initiate the establishment of a new international monetary system.’
The idea behind it is the same that was behind all other resets.
One country, which has what’s called a ‘convening power’, takes the lead before a crisis begins. In this case, it’d likely be President Trump who holds enough sway to request the powers that be to convene at his Mar-a-Lago resort.
OR…a new hysteria emerges and forces the elites' hand under highly adverse conditions.
So, what will the plan be?
What do Jim and I think they’re going to do?
What will the end of this giant, historic boom period look and feel like?
And what investments and money moves should you be making now with this potential future in mind?
Jim’s put all the pieces together in his most controversial book to date.
It’s called Aftermath: Seven Secrets of Wealth Preservation in the
Now, I realise, for many, a lot of what you’ve read so far may seem hyperbolic.
But I stand by the following statement:
If the predictions in Aftermath are correct — and it IS an ‘if’; nothing is certain — then this book, and the recommendations contained within, could provide you with cover during a period of financial chaos that could be unlike anything you’ve seen in your life.
It’s an absolute must-read, right now.
For that reason, if you give the go-ahead, I’ve arranged to mail you a physical copy immediately (provided you have an Australian mailing address).
Aftermath digs into what Reset 2020 might look like.
You’ll discover a horrible endgame of control and wealth extraction. One that will make the bank bailouts of the GFC look positively ethical by comparison.
‘They’ll come after every penny they can, through taxation, penalties, regulatory schemes, bank levies, trumped up criminal prosecutions, good old-fashioned thievery.
‘In the end, we’ll see the rise of Neo-fascism around the world, along with massive redistribution of wealth. The elites will come out the big winners. Everyone else, including the middle class, will come out devastated.’
As will become very clear as you work your way through this book, things ‘won’t go back to normal’ after the next crisis. There will be a new normal.
We're about to go through a one-way door. There is no turning back.
This won't be about fixing the capitalist system. It will be about RESETTING it.
All we're waiting for now is the big domino…
Look, I know I’m biased, but you really have to read this book.
I’ve read hundreds of investment books. Last year I wrote my own, called How the Euro Dies.
But I’ve never seen anything put the pieces together quite like this one.
Remember: Jim’s history and connections get him into the same room as some of the biggest elites on the planet.
‘I set up a one-on-one meeting with another member of the network,’ says Jim in his book.
‘His name is Zhu Min, the former Deputy Governor of China’s Central Bank. Until recently, he served as Deputy Managing Director of the International Monetary Fund.’
That doesn’t mean they spill their guts to him. Far from it. But, according to Jim, in many cases it’s more about what they DON’T say than what they do.
According to Jim, Zhu is a brilliant guy. He’s pleasant and comes across as well-meaning.
But there’s no doubt in Jim’s mind that he’s also a member of the elite network possibly preparing to impose the imminent reset.
Jim’s quest in writing Aftermath also led to another, frankly, incredible meeting.
You don’t get much higher in the elite echelons than a face-to-face summit with the head of Bilderberg.
‘We met at Rockefeller Center in Manhattan, and he was very eager to get my take on the Euro as a currency. I was happy to provide it, of course, in exchange for some valuable intelligence,’ says Jim.
Jim insists he did not have horns.
Or a sinister cape. Or a white cat purring on his lap.
He even gave Jim a nice gift when they parted ways — a blue Swedish vase.
But Jim stresses this…
‘My point is, I came away from all three meetings convinced of one thing. When the next crisis hits, the elites are planning to freeze the financial system, and they’ll replace it with a new system, one not based on the US dollar.
‘When that happens, we’ll wake up to a very strange and disturbing new reality.’
What might that reality look like?
It’s all in Aftermath: Seven Secrets of Wealth Preservation in the Coming Chaos.
Now, it should be pointed out that Jim Rickards is not licensed to give direct investment advice here in Australia.
But I am. And as the Australian co-editor of Jim Rickards’ Strategic Intelligence Australia, I can tell you there’s not a single piece of advice in Aftermath I wouldn’t wholeheartedly give to my own readers, friends and family. Like:
Overall, some may come away from Aftermath a bit shaken.
But recent big news events since 2007 will start to make a whole lot more sense to you.
For instance, Jim believes the elites have been conducting a series of dry runs for the coming reset for years.
Look at Cyprus, for example.
You’ll remember that in 2012 and 2013, the Cypriot economy was in complete financial chaos. Its banks were reeling.
The IMF stepped in and loaned Cyprus $10 billion, but the loan came with strings.
‘Now pay attention, because this is precisely what they’re going to do, but imagine it on a global scale.’
In exchange for the capital injection, the IMF demanded control over the Cypriot banking system.
More specifically, the IMF froze the entire system.
Literally every bank in the country.
It did that to ensure the IMF’s demands were met, including strict capital controls.
How did all this impact regular citizens?
Their local ATMs went dark.
Even the bank branches closed, permanently in some cases. Citizens could not withdraw cash. They couldn't even transfer funds from one account to the other.
What came next? Wealth extraction on a grand scale.
The IMF basically stole billions in cash from the Cypriot bank accounts.
At the time, a Daily Mail headline called it ‘bank robbery’.
How did the elites justify this? They called it a levy.
The price citizens had to pay for their government's missteps.
Keep in mind these asset confiscations were done at the balance sheet level with the institutions themselves.
They never had to confiscate individual accounts. They froze every account by controlling a handful of the country's biggest banks.
Because that’s what Jim and I believe is about to happen.
And, as Aftermath will show you in grisly detail, it will be a highly coordinated global attack on the entire system simultaneously.
In writing and public speaking, Jim frequently uses a snowflake-avalanche metaphor to describe the way systems collapse.
It begins with the build-up of an unstable snowpack on a mountainside. Billions of individual snowflakes form an interconnected lattice.
A new snowflake falls, it hits the snowpack in a way that shakes loose a few other snowflakes, those snowflakes begin to slide, the slide gains momentum, soon the entire snowpack rips loose from the mountain and buries the village below.
We don’t know what the final snowflake will be.
It would take a really bad turn of events for it to be the Coronavirus.
Jim believes there's a higher likelihood the snowflake will be an ‘unknown’. A completely left-field event.
But in Aftermath, you’ll get a vivid picture of what the avalanche might look like while it’s in motion.
Specific ways to make sure it doesn’t take your wealth with it.
What the world could look like when the snow-dust settles.
I can think of no other more vital book to have in your hands in 2020.
I’d like to personally mail you a physical copy of Aftermath: Seven Secrets of Wealth Preservation in the Coming Chaos.
All I ask in return is that you take a subscription — with a no-obligation, 30-day trial period — of our newsletter, Jim Rickards’ Strategic Intelligence Australia.
This is absolutely a ‘try before you fully commit to a subscription’ deal.
We don’t want you locked into anything before you’ve had time to go over the entire archive and live recommendation portfolio.
You’ll have 30 days to do that. Then, if you don’t wish to stay with us, simply let us know and we will cancel your subscription for a full refund.
Even if you do that, you can keep your personal physical copy of Aftermath, with Jim’s and my compliments.
I really think you’ll stick with us though.
The official subscription price is just $149 a year.
Given everything I’ve shown you about Jim, the contacts he has, and the controversial calls he’s got spot on, $149 is a paltry sum to have his ongoing guidance in 2020 and beyond.
Especially when it gets you Aftermath.
Just $69 will get you Aftermath, and a full 12 months of Jim Rickards’ Strategic Intelligence Australia.
Should you stay on for year two, you’ll be renewed at the official price of $149, unless we hear from you.
Think about that price.
That’s virtually nothing.
Think about the stakes here.
As Jim says in the book, ‘the coming crisis is as predictable as spring rain.’
You know it’s coming.
You just might not realise the magnitude. Or what you need to be doing now to protect yourself.
Aftermath will educate you on that.
Strategic Intelligence will be your guide to turn to as it all unfolds.
With our guarantee that you can read and keep the book, scour the archive for every current Strategic Intelligence Australia recommendation, and STILL receive a refund of the $69 if you’re so inclined…
…I would say this should be a fairly easy decision for you.
There’s one more essential add-on you’ll receive if you take a trial right now.
Something you cannot buy on Amazon, Booktopia or in Dymocks…
The coming reset will bring to a catastrophic end the biggest and longest bull market in American stock market history.
I’ll bring you back to that chart I showed you at the beginning to illustrate that point…
In the bulk of Aftermath, Jim examines what the end of this bull market might look like on a global scale.
But when it comes to analysing the implications of a global currency reset, Australia is by far the most interesting country in the world. And I can’t wait to explain why. That’s why I’ve contributed a bonus chapter to Aftermath, designed to bring Jim’s message home to Australia specifically. What does a currency reset mean for our economy, our government and your bank balance? Why does all this matter to Australians?
So far, we’ve missed out on much of the US’s stock market boom. But would we miss out on the US’s bust too?
As you’ll see in Aftermath Australia, both Jim and I believe that would be highly, highly unlikely.
That’s the biggest lesson Aussies should learn from 2008. The world is now so interconnected that our asset prices can’t escape.
How would our economy react in a global reset scenario?
Today, Australia’s fate is determined by three things when it comes to a future currency reset. Our geopolitical position as allies of the UK and US. Our economic ties to Asia. And, most importantly, our commodity-driven economy.
You probably noticed those also happen to be the three most important factors in determining Australia’s general welfare, regardless of any currency reset.
That’s why I say Australia is the most interesting nation to think about when it comes to a currency reset. More is at stake here than just about anywhere, because currency resets specifically affect those things, which Australia relies on for its prosperity and security.
Do we have the same protections that allowed us to avoid a recession in 2008?
Would our government have a seat at the table when Reset 2020 is hashed out?
How would our Big Four banks…already under siege…hold up during a global monetary reset event? (I’ll even let you in on something very few Aussies know…that the Fed actually ‘rescued’ some of our banks during the last GFC…)
Will our economic ties to China be a help or a hindrance as this
all plays out?
What are some Australia-specific ways to protect yourself?
And what are some Australia-specific investments that could actually thrive when everything else is falling? (You’ll see I’ve identified five.)
I answer those questions in BONUS CHAPTER: Aftermath Australia.
You could even posit that THIS CHAPTER ALONE is worth $69, let alone the whole book and 12 months of Strategic Intelligence.
Related to this, there’s a final report I want to place in your hands if you take this subscription with a no-obligation trial today. It was published several months ago, but is now looking more prescient than ever. It’s called:
The bonus chapter looks at Australia’s place in the context of Jim’s Aftermath scenario. This drills down on it in even greater detail.
As you’ll see, the coming crisis is going to impact two key pillars of Australia’s economy: Resources and housing.
In short, Australia stands to lose a whole lot.
This report will detail how Trump’s policies have set in motion a domino effect that branches out in three specific ways.
Put together, they deliver a simple conclusion: Australia is in deep trouble.
First, we’ll look into just what Trump and his enemies have planned for each other. Blow by blow, the conflict is escalating fast.
Australia won’t be able to avoid the fallout from the crisis this time. Economies are global. Your neighbour’s problem is your problem too.
Entire nations will be unable to repay their vast stacks of US dollar-denominated debts. And those nations are Australia’s key trading partners.
And what about the bigger geopolitical picture? To say Australia is between a rock and a hard place is an understatement.
China, its biggest trading partner, is squaring off with the US, its most important ally. Faced with choosing between its economy and security, which way will Australia’s politicians turn?
But don’t worry about these threats too much. After all, the world’s central bankers are standing at the ready to bail everyone out, right?
Not this time.
You’ll see in Aftermath that, in fact, the exact opposite is the case.
They’re preparing to hang us all out to dry.
‘Sell Australia’ is a chilling look at what that might mean for ‘the Lucky Country’.
Dr. Pippa Malmgren used to be part of America’s Plunge Protection Team.
The officially named Working Group on Financial Markets looked into market crashes…and how to prevent them getting out of hand.
They also helped draft statements for policy officials intended to move markets.
In other words, she’s no conspiracy theorist or alarmist — quite the opposite. She worked at the pointy end of government intervention in financial markets. And these days, that’s all that matters to financial markets.
Her incredibly well-informed past makes this quote from her Macro Voices podcast interview rather startling:
‘You have got to understand if the size of your debt problem is so big that it can’t be paid off, and in fact even inflation, which is the usual way you would seek to default on your debt slowly over time, you can’t get enough inflation generated, then there is one further option.
‘And that is you literally abandon the entire system of money, and accounting. I know that sounds unbelievably radical, but we have seen it happen before.’
There you have it.
A currency system reset is going mainstream.
What is very surprising is that a government insider is starting to talk about it.
That’s a major break.
Make no mistake: When this moves, this will move very fast.
Don’t be caught out.
Arm yourself with the right knowledge. And be ready.
Thanks for reading.
Managing Editor, Strategic Intelligence Australia
You pay just $69 today (discounted from $149). After that order is processed, your physical copy of Aftermath: Seven Secrets of Wealth Preservation in the Coming Chaos will be mailed to you.
You will receive the exclusive online bonus chapter called Aftermath Australia.
You will get access to the full archive and buy recommendations of Jim Rickards’ Strategic Intelligence.
And you will receive SELL AUSTRALIA! How to Get Your Money ‘Off-Grid’ Ahead of the Greatest Australian Financial Crisis Since the 1930s.
All that, for $69. You can get that $69 refunded within 30 days if you wish. And even if you do that, you can keep your physical copy of Aftermath, with our compliments.
As with anything, there are no certainties here.
Jim is merely going through the same predictive process he used in forecasting Trump and Brexit: Using specific models…and refreshing the output with continual updates from new data.
And then overlaying that with anecdotal info gathered from Jim’s numerous connections in the upper echelons of politics and finance.
None of this is an exact science.
But know this: These resets happen regularly. When they do happen, they can create and destroy massive amounts of wealth. And we are well overdue one…
Herbert Stein, a prominent economist and adviser to presidents Richard Nixon and Gerald Ford, once remarked, ‘If something cannot go on forever, it will stop.’
The fact that his remark is obvious makes it no less profound. Simple denial or wishful thinking tends to dominate economic debate.
Stein’s remark is like a bucket of ice water in the face of those denying the reality of non-sustainability. Stein was testifying about international trade deficits when he made his statement, but it applies broadly.
Current global debt levels are simply not sustainable. Debt actually is sustainable if the debt is used for projects with positive returns and if the economy supporting the debt is growing faster than the debt itself.
But neither of those conditions apply today.
Debt is being incurred just to keep pace with existing requirements in the form of benefits, interest and discretionary spending.
It’s not being used for projects with long-term positive returns such as interstate highways, bridges and tunnels; 5G telecommunications; and improved educational outcomes (meaning improved student performance, not teacher pensions).
And developed economies are piling on debt faster than they are growing, so debt-to-GDP ratios are moving to levels where more debt stunts growth rather than helps.
It’s a catastrophic global debt crisis (worse than in 2008) waiting to happen. What will trigger the crisis?
That’s open for debate.
In Jim’s opinion, what’s not up for debate (by any sane individual) is that a giant reckoning of some sort is coming.
Aftermath shows you what that might look like. And how to prepare for it.
Jim believes the world is on the knife edge of a debt crisis not seen since the 1930s. It won’t take much to trigger the crisis. And it is very likely a global monetary reset will happen as a result.
Aftermath examines what that will mean, and how you can prepare.
But Jim Rickard’s Strategic Intelligence will monitor how it all unfolds in real time.
You will receive monthly issues from Jim, with me (Nick Hubble) providing an Australian perspective and specific investment recommendations where applicable. You’ll also receive weekly updates, because the current situation is extremely fluid.
Put simply: Our aim in 2020 is to be the most potent and predictive financial newsletter on the planet.
Despite what many will tell you, stock market behaviour has become remarkably easy to predict lately. Stocks go up when the Fed cuts rates or indicates that rate cuts are coming. Stocks also go up when there’s good news on the trade war front, especially involving a ‘phase one’ mini-deal with China.
Stocks go down when the trade war talks look like they’re breaking down. Stocks also go down when the Fed indicates it may stop raising rates or actually goes on ‘pause’.
Good news (rate cuts in July, September and October last year, and good prospects on the trade wars) has outweighed bad news, so stocks have been trending higher. You don’t have to be a superstar analyst to figure this out.
Stocks are in bubble territory, based on weak earnings, and have been propped up by expected good news on trade.
The other driver is FOMO — ‘fear of missing out’ — which can turn to simple fear in a heartbeat.
Get ready. It’s going to happen. Jim Rickards’ Strategic Intelligence will guide you through the storm.
As explained above, it’s pretty simple.
$69 gets you a full year of Jim Rickards’ Strategic Intelligence. Plus a physical copy of Aftermath and a host of other special investment reports.
If, for whatever reason, you don’t want to stay on as a subscriber, no problem. You’ve got 30 days to try everything out. Just contact us within 30 days and we’ll give you a full refund of that $69. We’ll even let you keep Aftermath if you do that.
The phone number is 1300 029 501.
If you enjoy and appreciate Jim’s analysis in Strategic Intelligence, and wish to stay on, do nothing and you’ll be renewed at the official price of $149 after 12 months.
James Rickards is Chief Global Strategist at West Shore Funds, Editor of Strategic Intelligence and Director of The James Rickards Project, an inquiry into the complex dynamics of geopolitics and global capital.
He is the author of New York Times bestseller The Death of Money (Penguin, 2014) and national bestseller Currency Wars (Penguin, 2011).
He is a portfolio manager, lawyer and economist, and has held senior positions at Citibank, Long-Term Capital Management, and Caxton Associates.
In 1998, he was the principal negotiator of the rescue of LTCM, sponsored by the Federal Reserve.
His clients include institutional investors and government directorates.
He is an op-ed contributor to the Financial Times, The Evening Standard, The New York Times and The Washington Post, and has been interviewed by the BBC, CNN, NPR, C-SPAN, CNBC, Bloomberg, Fox and The Wall Street Journal.
Jim is also a visiting lecturer in globalisation at the Johns Hopkins University and the School of Advanced International Studies, and has delivered papers on risk at Singularity University, the Applied Physics Laboratory, and the Los Alamos National Laboratory.
He is an adviser on capital markets to the US intelligence community and the Office of the Secretary of Defense.
Nickolai Hubble is the editor of Jim Rickards’ Strategic Intelligence Australia and chief strategist of The Fleet Street Letter Monthly Alert.
After finishing his degrees in finance and law at Bond University in Australia in 2009, working for an investment bank didn’t seem so enticing any more. An internship with his scholarship provider Goldman Sachs during the height of the financial crisis was quite enough of that.
Instead, Nick went to work for the company which allows its analysts to predict the financial crises that investment bankers cause. The Agora is a network of publishing businesses dedicated to bringing you ideas that are too controversial to get a hearing in the mainstream press. And that’s where Nick found a very comfortable home.
In 2012, Nick exposed the subprime practices of Australian banks to his readers at The Money for Life Letter. His accusations that bankers and mortgage brokers routinely manipulate their customers’ loan applications were vindicated by a Royal Commission in 2018.
In 2018, Nick predicted Italy’s budget battles would lead to ‘Bloody October’ and successfully warned his subscribers about the worst period in financial markets since 2008. In August 2019, he compiled his predictions into a book called How the Euro Dies.