Financial Warfare Expert Jim Rickards New Book- The Big Drop

Phiber · Aug 28, 2015

Don't you just love the generosity of "experts" about how they help you grow your wealth purely out of generosity and their kind human nature?
And I mean who doesn't love "secret strategies" and investments that might climb 1,305% or "an 'insurance investment' that could jump as high as 500%". Doesn't raise any red flags at all

Each to their own I guess. I would not say the daily reckoning or the other ZH are worth any minute of my time or any of my brain space, but what do I know, I am no expert

SpacePete · Aug 28, 2015

I'm reading the book now. I think he's made some very astute observations in this one, especially with regards to SDRs as an international monetary system and how they can be used to ignite inflation in world currencies in way that can happen under the radar of most people.

Special Drawing Rights

The third scenario is a world of SDRs. I believe this is the most likely outcome.

The SDR sounds geeky it stands for Special Drawing Right. The name is by design. Global financial leaders pick strange names for what they're doing so people don't under- stand what it is.

Luckily, the SDR isn't complicated. It's very simple. The Fed has a printing press and can print dollars. The European Central Bank has a printing press and can print Euros. The IMF, the International Monetary Fund, has a printing press and can print Special Drawing Rights. The SDR is simply world money. They didn't want to call it world money because that sounds a little scary, but that's what it is.

They're not new; in fact, they've been around since 1969. The IMF can print them and in the next liquidity crisis, they will do so. In 2009, they printed hundreds of billions of dollars equivalent of SDRs. Not very many people noticed.

They'll be involved in a bigger way when the next crisis hits and we could see the SDR become the new global reserve currency. That doesn't mean the dollar goes away. It just means the dollar would be a local currency like a Mexican Peso or a Turkish Lira. We will have them for getting a taxicab or going out for drinks, but it won't be used for the big things.

When I say the big things, I mean the price of oil, the settle- ment or balance of payments between countries, probably the financial statements of the hundred or so largest corporations in the world. In the future, maybe you'll get your annual report from IBM or Volkswagen or General Electric and it'll be in SDRs.
Click to expand...

And...

It's happening slowly and invisibly, but you can see the mo- mentum. That momentum is going to build until suddenly we get to the point where there is a new global reserve currency, which, of course, is highly inflationary.
Click to expand...

long88 · Oct 20, 2015

So what do we do ? In order to protect ourselves from the inflation ?

Stack gold and silver ? Stack Property with cash flow ?

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Financial Warfare Expert Jim Rickards New Book- The Big Drop

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Financial Warfare Expert Jim Rickards New Book- The Big Drop

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