Tags: Currency | Wars | US | Dollar | Policy

Rickards: US Facing 'Best-Case Scenario' of Destroyed Dollar, Trillions in Wealth Lost


The United States is facing a “financial Pearl Harbor,” and unfortunately, we are helpless to defend against it.

But this new war won’t involve soldiers, missiles, or traditional weapons.

The threat comes from Europe, South America, and Asia, and it could destroy trillions of dollars of wealth owned by average Americans. It’s called a currency war, and the weapons in this war will be derivatives, stocks, sovereign wealth funds, and even gold.

That’s according to James Rickards, a top security adviser to the Pentagon, CIA, Department of Defense, and the Director of National Intelligence.

The threat is so serious that Rickards was recruited by the highest ranks of the Pentagon, military, and national intelligence community to run full-scale “war game” simulations in preparation for an eventual attack.

What Rickards discovered during these simulations is alarming. He says the best-case scenario is that the currency war will destroy the U.S. dollar and your wealth. The worst-case scenario is a global depression and international turmoil that escalates to military conflicts.

So what exactly is a “currency war,” and why should you be worried?

A currency war, in its most basic form, is when one country intentionally devalues its currency to try and boost its home economy. Other nations don’t like it when this happens, and retaliate by devaluing their own currencies to match. It then becomes a race to the bottom as each country tries to devalue its currency more than the next one.

In the exclusive documentary Declassified: America's Coming ‘Economic Pearl Harbor,’ Rickards puts the blame squarely on the United States for starting the currency war. Rickards says the United States put the wheels in motion when it turned on its printing press with the first round of quantitative easing (QE1) in November 2008. QE2, QE3, and Operation Twist just poured gasoline on the fire.

Editor’s Note: Watch Exclusive Documentary Declassified: America's Coming ‘Economic Pearl Harbor’ Here.

Other nations have taken notice, and many have voiced their outrage.

Brazil’s president called it a “monetary tsunami,” vowing his country would defend against it.

The president of Bolivia predicts a rebellion breaking out between Latin America and the United States.

And leaders of the European Parliament agreed that it could trigger another clash between the United States and the world.

The latest skirmish involves Japan, which recently announced its own plans to devalue the yen. The move prompted the spokesman for Germany’s Chancellor Merkel to warn of “retaliation by other Group of 20 nations.”

In all, 78 quantitative easing countermeasures have been put in place by both our international allies and foes.

But perhaps the most shocking part of the entire Declassified documentary is footage pertaining to Rickards’ testimony in a Treasury briefing that one of our country’s leaders “could be more dangerous to our economy and the national security of the United States than al-Qaeda.”

Rickards says that even without retaliation by other nations, the U.S. government has been quietly sacrificing the wealth of average Americans in recent years.

By simultaneously trying to make the dollar weaker, lower interest rates, and unsustainably grow the federal debt, the U.S. government is robbing Americans of their financial security. Overall, the Fed has eradicated over 25% of your net worth through its monetary easing policies.

But there is still time to protect your investment portfolio, your life savings, and your personal finances. In Declassified: America's Coming ‘Economic Pearl Harbor,’ Rickards reveals which investments can help you safeguard and grow your wealth as the situation escalates, including international currencies, agricultural funds, and energy ETFs, and even how to maximize the value of your home and retirement account.

“We felt that James’ message was too important to ignore,” explained Aaron DeHoog, the financial publisher of Newsmax. “That’s why my organization spent over $200,000 and involved 50 employees to produce this documentary. We felt it was our duty to share this information with as many Americans as possible.”

Editor’s Note:
For a limited time, Newsmax is airing exclusive clips from the Declassified: America's Coming ‘Economic Pearl Harbor’ documentary featuring James Rickards, including information on how to obtain a copy of Rickards’ book Currency Wars. Go here to view it now.

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Wednesday, 06 February 2013 05:09 PM
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