Jim Rickards is the author of Currency Wars and The Death of Money.
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."
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