James G. Rickards, who is a lawyer, economist and investment banker who has more than three decades of experience with Wall Street is warning the public of a coming global monetary collapse and possible world war causing by a global currency collapse. Rickards is arguing that the Feds of sharply increasing the money supply to cover all of the country’s budgeting debts instead of making the hard choices required, and cheapening the value of the dollar. Rickards is also arguing that China is stepping up their efforts to acquire gold to protect themselves from this upcoming monetary crisis.
Rickards is far from being some crank or the sky is falling screwball. He had a background helping to assist in the Iranian hostage crisis as well as work for the CIA, The Defense Department and is a very respected financial expert that is arguing that countries like the U.S. are resorting to printing more currency instead of expanding their economies, and the price of gold could well soar to levels about four times what it is valued at now. Rickards now views signals from Wall Street of instability in the markets that is a sign of what he calls “code red” danger signs of this upcoming economic collapse.
Rickards also believes that the collapse of world currencies could only lead to frictions with nations such as China, could destroy the value of all American’s life savings and banks accounts.
Even more serious is that Rickards who was one of the investigators of the 9/11 attack believes that this upcoming monetary crisis could be like a financial Pearl Harbor and far worse than 9/11.
With financial crisis situations in Greece and Cypress as well as the serious recession in Spain, some of the world economies are already beginning to collapse. And these problems could eventually catch up with the major economies of the world.