SCAM ALERT: Learning Not to Fear Rickard’s “Day After Plan”

Rickards

An impending “70% stock market crash”.   A “$100 trillion meltdown”  A “coming catastrophe”  and “Our leaders have kept us in the dark about this dangerous situation”.  This is one of many claims made by a Mr.  Jim Rickards in webpages and email blasts filling spam folders.   But Rickards isn’t sharing his alarmist point of view out so that unsuspecting US citizens can protect themselves.   No, Mr. Rickards wants your money.   He’s selling you on his doom-saying book about how money is no longer safe as well as a site called “Money Morning” which houses other doom merchants and scaremongers.    Before you share your hard-earned money with Mr. Rickards and his associates,  we urge you to consider the following:

  • Rickards is claiming that beginning in 2015, the U.S. will fall into a 25-year Great Depression.  Mind you, this would be longer than that other Great Depression that lasted about 15 years.  (notably, in a Reuters interview, when asked about when this would happen he  concedes “I don’t know any more than anyone else”.
  • He argues that the CIA created something called “Project Prophecy” which actually predicted a 2006 terrorist attack.  (shockingly, there are thwarted terrorist attacks every year…..who would have predicted?)
  • The Federal Reserve and the Treasury are greater threats to the U.S. than Al-Qaeda.  (should we alert the TSA?)
  • Debt has been systematically used to grow our economy  (Ah, there we go…..joining the legions of debt-obsessed apocalyptic doomsayers who have been preaching financial failure for decades)
  • The system is “about to collapse”

These are the oft-used catch phrases of a large number of doom-preaching self-styled financial advisers who are looking to take your money and make investments that they view as “safe” when everything goes to hell in a handbasket.   Is it a scam?  Perhaps not, as he is offering information, even though it may be skewed.    Is it fraud?   Again, probably not, as these people may actually believe their dire warnings.   But Mr. Rickard and the ranters at Money Morning are one of many such financial doomsayers.   They include dubious experts such as  Porter Stansberry,  “the Donald” Trump, Dave Hodges,  Jeff Berwick,  Jeff Thomas and just about every gold bullion seller in the world.

Here’s our beef with these (mostly) gentlemen who are so pessimistic about America’s future.   If Rickards and his fiends/friends really believe this alarmist fare, then best of luck to them.   But what they really want is your money.  It starts with $39.50 for a one-year subscription to even more of his marketer-crafted blood-pressure-raising blabber.    For $79, you qualify for an ‘Executive Package’ that includes four books full of this fear-mongering.  Rickards also wants you to buy his book “The Death of Money”.  (should we notify its family members?)   Supposedly, Rickard’s prescription to financial wellness during his coming Armageddon is gold, real estate, art, hedge funds and cash.   Ugh!   These are all very complex investments, with fine art being among the most challenging.   No surprise then, that you’ll need to pay for his guidance to make it through the financial mine field that he’s about to lead you into.

Folks, it is your business and only your business to decide whether you want to short America and accept the angst-mining and fearmonger of authors like Rickards and the other Money Morning mad-at-America-men.  Although do keep in mind that there is a direct correlation between aging and being fearful.    In fact, anxiety is a documented common illness among older adults, affecting as much as 15- 20% of seniors.   The marketing approach used by these financial advisors are designed to prey upon seniors who are already disposed towards anxiety-based phobias.  And they are doing so using very cleverly designed sales pitches that push one’s hot button concerns and fears.

If you are over age 50 and are beginning to share the concerns of these financial phobia-peddlers, we encourage you to first do a serious assessment of your own psyche.    Are you feeling fearful or concerned about the future?   Any signs of mild-depression?   Is life seeming more and more meaningless and out-of-control?   Before you subject yourself to a financial fleecing by opportunistic marketers, conduct your own personal assessment.   Make sure that you consult with others before putting your money into the many fiscal horror-hucksters who reside in the online nethersphere.  If you really need to fear something, we encourage you to fear so-called financial Chicken Littles who seek your money so they can spread their gloom and doom gospel.

This brings us back to Mr. Rickards.   Because this is America, we’d fight for his right to air his opinion.   But there are many observers who don’t share his point of view and, beyond that, believe his analysis to be skewed.    He is clearly a bright man and his insights into the global banking system that could help inform the debate on global monetary policy.  But he’s not selling a policy book.   He’s exhorting individuals to substantially change their investment portfolios and plunge their assets into very challenging and risky investment vehicles.   We encourage you to read some of the articles below before you invest in anything that Mr. Rickards and his associates are pitching:

Rickard’s IMF SDR proposal

Rickards on gold confiscation

Rickards on Insider Trading by banks

Rickards’ Misinformation on Gold

Rickards on the Fate of the Dollar

Forbes on Rickards

53 replies
  1. Lyn
    Lyn says:

    I agree with your brilliant analysis. What Rickards is obviously peddling for personal gain could never happen. What does he know anyway? He was only the head legal council for the world’s largest Nobel Laureate packed hedge fund, Long Term Capital, and chief negotiator with the Federal Reserve to bail out the largest financial default in history to date, is a high ranking Pentagon analyst on financial warfare, testifies before congress on financial affairs, is the author of 2 financial books on the NYT best seller list and managing director of a major financial consulting firm.

    The financial collapse of 2008 that came a hair’s breadth away from decimating the entire global economic system and destroyed trillions of dollars of wealth in the US could obviously never happen again – even though by almost all measures the situation is worst now than it was in 2007. Thanks for protecting us seniors from investing in information that clearly could not help inform us about protecting what little wealth we have left.

    Reply
    • admin
      admin says:

      Lyn, your sarcastic response is being posted, not because we agree at all with your statement, but because you make questionable claims about Mr. Rickard’s expertise. We offer readers this link to his Wiki biography so they can get a true sense of Mr. Rickard’s qualifications to be telling them how to invest their personal assets. Please note that Wikipedia suggests that the references in the article “be taken with a grain of salt. Many references are circular, often citing themselves.”

      Reply
      • George Russell
        George Russell says:

        First, I too believe that the economy – world, and especially US – is a giant ponzi scheme. Every single country, even the most prosperous, owns trillions… to whom? I lived through a collapse of historic proportions that changed the world that nobody expected to happen at least in our lifetime so I kind of know the signs, and have that deja vu sense right now. At the same time, that Rickards thing is obviously a scam preying on intellectually weak, and there is no contradiction. The main question I ask is this: if he predicts monetary system collapse, why would he want more money from his audience?

        Reply
      • Scott
        Scott says:

        I first misread Lyn’s sarcastic remarks, but I did go to the Wiki link. I did a bit more research on the website on his employer Omnis. I think everyone should realize its hard to trust anyone nowadays because there is so much spinning or lying or just plain ignorant reactions going on in politics, on the web, in our offices and between people directly. We live in such a fast paced world that we don’t have time to think, research, really listen or learn. So I googled Rickard’s employer Omnis. http://www.omnisinc.com/contact.php
        If you do a little research on the company, Rickard’s may have in fact had a chance to work directly with the CIA. (Lord knows that everything the CIA does is fully visible to the US public and just a google away to research.) Please look up the main players at Omnis; one worked for MI6 and was a liaison between the US and UK intelligence communities. No doubt Rickards and Money Morning are trying to make profits; this is the US after all, but I don’t think everyone should discount whether or not the information might have some value. Of course, nowadays we should be spending extra mental effort to weed out the rhetoric and the sales pitches from the usable information. (Just try to make the argument that watching what Buffet does with his money is bad advice.)

        Reply
    • john
      john says:

      Basic logic indicates that the 2008 financial crash is repeatable. All we did in the aftermath was bail out the banks that caused the crash. We could avoid another one if we regulated the market in a way that discouraged trading in imaginary money on the scale of 10s of trillions of dollars, but, predictably we didn’t. We never fixed the central fallacy of modern capitalism: the belief that the quantity of resources available to fuel the economy will increase indefinitely. We’re already running out of oil, water, and arable land, yet the lords of the market insist on perpetual growth.

      Reply
    • jeff
      jeff says:

      Gold is a complex investment? LOL !! I am able to buy silver, for example (not gold) at 18 cents over spot. That is not complex. Buy it and vault it. Seems simple enough. Jim is a huckster, yes, and I respect him less because of it, however, do you believe the government more? Jim does present facts and true stats, regardless of his salesmanship. Enjoy the train ride……..

      Jeff

      Reply
    • Jason
      Jason says:

      I don’t go by someone’s self-written Wikipedia biography – I go by their track record, Lyn.

      And Rickards has been predicting imminent doom – with constantly changing dates that we should circle on our calendars – for years.

      THAT’S the measure of the guy. He hasn’t gotten anything right yet.

      But you probably know that already, and are probably one of Rickards’ minions astroturfing here.

      Jim Rickards is a fraud and a scam artist and that’s obvious.

      Reply
      • Brian
        Brian says:

        Yes. And just imagine, if we can, the societal conditions created by a collapse of this unprecedented and virtually inconceivable magnitude. One would need a fortress defended by a private army to survive such. The billionaires will be fine. The rest of us? Saved by a few thousand bucks in gold and silver? Into what supply chain is this currency supposed to be exchanged for goods?

        Reply
  2. Steve From Texas
    Steve From Texas says:

    Rickards is indeed selling books, and he does this by managing true stats and ongoing issues. The solution is to invest in things many of us have no real loose cash to buy. The key has always been to be out of debt on everything you own, including your home. If that means to sell your mortgaged home and move into an RV, do it. That way you can even move to an area where you can survive or get work. Also, nothing survives like dirt is you own it outright. If you need cheap dirt, move to Texas.

    What really bothers me is Rickards mockery of the 9/11 observation that terrorists did not take those towers down. Jet fuel does not melt steel. Anyone who has any knowledge of building demolition knew they were watching a masterful demolition done with very high tech tools. I have seen a demolition, and I had a man in a church I pastored who worked in demolition long ago, and he told me what a perfect demolition looked like. 9/11 was an exceptionally well cone demolition. When three buildings in a row fall precisely in their own foot print, that is perfection. I think Rickards’ involvement with the CIA and financial terrorist prevention requires him to insist that 9/11 was real. Otherwise Rickards looks like a buffoon for taking the CIA seriously by going on a search for a black cat in a dark closet that is not there.

    Reply
  3. Dan
    Dan says:

    If you are over 50 and you can’t see that our economy is both rigged…and as a result, now unsustainable…you need to pull your head out of your okole.

    But you won’t, any more than you will actually post this because you prefer to hide the truth rather than to take the simple steps to prepare for what is inevitable…something that was considered normal and prudent by our grandparents and their predecessors.

    Those who fail to learn from the lessons of history seem to be now running the nut house.

    Reply
  4. Reinhardt
    Reinhardt says:

    It’s clear from the devaluation of our currency that we have a faux economy. Just because the government prints fiat monies and “props” up questionable and burdensome programs, doesn’t mean it’s a success and that all is well. The far left loonies live and breath by creating debt and dependency, the very issues which squelch independence and self-initiative. America is NOT what it once was, and for those over 50, they know it with certainty. We have suckled on the teat of progressivism for so long, particularly, but not exclusively, by the Democrat Party. Democrats are not entirely to blame for our economic morass, but they are largely responsible, for they are not job creators, they are entitlement creators. The SS system was never to be used as some fund cite for every swingin’ party out there, but Ted Kennedy assured it got used that way. The wasteful spending is the mantra of the far left when it comes to social welfare. The far right does much of its spending on Defense, into the Military Industrial Complex, a cabal which at least provides some deterrence to the world’s threats, unlike the sit on one’s backside contemplative liberals. Working for and “creating” government jobs is not the same as innovation and jobs in the private (business) sector, either. The business side has a profit and loss sheet to deal with, whereas the gubmint (sic) can’t do a damn thing to most tenured workers, save for moving them around. So the gist of the problem lies with the mentality of the American people, a cluster of people who are now so genetically stupid, that they have embedded liberals/progressives/Marxists deep within this nation, and which has rotted the foundation of the Republic. It will fail, and gnashing of teeth will result. We are The Weimar Republic 2.0

    Reply
  5. Faith Brashear
    Faith Brashear says:

    This is not about political rights and lefts, it is about right and wrong. There is a UCC act being drafted called the National Foreclosure Act. I have personally spoken with one of the Word Smiths. When it is passed, it will place the Mortgage Electronic Racketeering (opps, registration – my bad) System who pre-bifucated Dirty Deeds that were used to pump predatory loans into Securitized trusts that were offered to investors who were “pre-sold” certificates attached to the RIGGED LIBOR INDEX, where the banks borrowed the money from these pre-sale interim holding lenders to fund the loans. This is called Civil Racketeering. Now if you had a mind to actually look at the Mers Members by doing a search of the “FDIC” federally seized banks, you will see over 50 listed as MERS members. Take this a little further, you will find the FDIC fact sheets that assigned Barclays Bank (Libor arrests) and Deutchbank Securities (creaters of the Mortgage Backed Securites never backed who paid massive SEC violations) acting as advisers to the FDIC to position insurance payouts in upwards of 90% on the original note and deed. Now as a field advocate who helped push this act back a year for draft revisions, I will tell you that this draft is positioning servicers to be able to push a button retroactively on any loan they deem a “bight”. Now since the mortgage crises foreclosure gap was never resolved, only deferred to allow the banks to spread out these foreclosures, you will absolutely see flare ups of foreclosures hitting in 2015. Approx 2Mil If this act passes it will create an event where the FDIC will be forced to payout billions, if not trillions of dollars in insurance payouts. Now while this has all been going on, China our US Treasury and JP Morgan chase have been setting up clearing houses across the nation to convert the yaun in preparation for deficit cash out of Fed notes. This is called positioning, and these events are in play. This is what is happening in the field and on advocates front lines. Sorry guys, I’m a realist not a conspiracy theory gal. I do not think this is a March deal, but there is something definitely on the horizon. We are no longer a system backed by anything, we haven’t been for awhile. We are heading into a Brave New World, like it or not. Frankly we are still in a depression, we never left. Depressions last for years after the fact, this is not news. How we choose to navigate through this crap, well that remains to be seen.

    Reply
    • admin
      admin says:

      Thank you for your lengthy and impassioned statement.    Just so everyone who reads your comments will know  (and what you chose not to share) is that your email address links to a website that sells “services” to people who share your pessimistic view of the economy.   And your email address is from a company that provides marketing services on the Web.   It is probably safe to assume that you are in a business or have a client in a business, much like the Day After Plan marketers who are trying to make a living by sharing their pessimistic financial world view.   We think it might have been useful for you to have identified your background and interest in this issue, but since you didn’t, we opted to do it for you.   We’ll let readers decide how much weight to give to your comment.

      Reply
  6. AvgBrokeJoe
    AvgBrokeJoe says:

    As someone who was ‘doing well’ before 2008 and pretty much lost everything in 2009. I probably have as good an understanding of our government and financial system as any working American. I can tell you I don’t see the govt fixing our tremendous debt issue. I can only hope that our govt is doing whatever it can to defend against foreign financial attacks. If Rickard and all the doomsday sayers are right then we’re all screwed anyhow. All we can ask is that SDCAN continues to give both sides to this kind of propaganda. THANK YOU!

    Reply
  7. Admin
    Admin says:

    Mr. Rickard is without doubt selling his services. Of that there is no doubt. His thesis is premised on his analysis of several real time real world events: a) the US Central Bank has a highly leveraged balance sheet, b) the US hosts a heavily leveraged and virtualized financial market, c) the US is engaged in an accelerating currency war with documented counter assaults, and d) there is international concern with dollar weaponization risks v.v. sanctions. So perhaps Mr. Rickards’ argument is not completely baseless.

    But then, it was 40 years ago that the demographic argument was made for three major upswings in US financial markets followed by a 25 year financial depression starting ca. 2015. Mr. Rickards … plagiarist? Again perhaps. Lengthy depressions do happen, and the U.S. is no longer insulated by Depression Era mechanisms.

    For the moment, is is worth focusing on th George Paish axiom that the collapse of commodity markets is invariably followed by a collapse of stocks, and in some cases nations. Given the risk conditions cited by Rickard, a collapsing commodity market, and an unfavorable demographic condition … yes, it is worth hedging, sans panic.

    Reply
  8. Peter
    Peter says:

    RIckards (not RIckard) is a fraud. Website after website claims he is a “CIA insider”, that he was the “architect” of something called “Project Prophecy” allegedly set up by the CIA, and that he is “an advisor to the Office of the Director of National Intelligence”, and that he is “the Financial Threat and Asymmetric Warfare Advisor for both the Pentagon and CIA”. This implies that he holds multiple serious posts with the US government. It seems that he has never held any such position: he has never held any post with the CIA, the Pentagon, the DNI, anyone at all. He is simply yet another lawyer with a loud voice, massively inflating his CV to make it even louder.

    Reply
  9. Ima English
    Ima English says:

    Mr Rickards analysis is actually correct. The Prophecy Project can predict because it participates in these events. The overthrow of Libya, Syria, Iraq, the war mongering in Iran are all predictable because they are planned events according to the Plan for the New American Century. If one digs a little deeper and reads the US government agency reports to Congress, one will find out about NAID funding for Turkey and Jordan in support of key operatives, a little more research and one will find the Living Foundries research operations in 2012 with funding to Tulane for research on a vaccination strain resistant bacteria which we now know is Ebola. More research will show that the Canadians found that the primary transmission of Ebola in 1970 has progressed so that it can be dispersed in aerosol form rather than as an injection (bite ) which was the mode of transmission in 1970. (Aerosol is beneficial for dispersion of a bio agent in a crowd). One will see that in 2014 the bio-weapons research lab in Sierra Leone was closed after the large outbreak of Ebola similar to the Tuskegee syphillis experiments conducted on blacks until 1972 https://en.wikipedia.org/wiki/Tuskegee_syphilis_experiment. One will see that the top 4 Ebola countries as well as Libya and Syria were on the bankers bad boy list since they refused to line up with the world banking cartels. When Madame Rothschild said that the wars would cease when her sons decided they would was a prophetic comment. The bankers including the FED do trade information, set prices, and plan world events, and make lots of money for the 85 people that according to the World Bank president make these decisions. They preposition the right operatives, use fringe elements to provide the cover for their deeds, but these are well planned events. For the uninformed, the FED is a private banking system not under control of the US Government. More research will show that if you heed Mr Rickards warnings, you will ignore the misinformation put out in the media and you will take conservative action for your family. If you want validation, look at Benghazi as how it was blamed on a video when in fact none of the demonstrators had even heard about the video. It was disinformation. If you want another example look at US unemployment figures at 5.4%. This just means that in the past few months 5.4% of the people became unemployed. It does not count those unemployed working at part time jobs because they can not find employment and it does not include the 25% who have been out of work for over 7 months. Mr Rickards provides fair warning to those who will heed the warning and take action. One does not have to follow his solution, but one should consider such a scenario.

    Reply
    • admin
      admin says:

      Yes, a professor of law at University of Chicago  (Francis Boyle) has raised public concerns that a biological laboratory in Sierra Leone that worked on ebola virus research may have created a new strain of ebola and then inadvertantly released it, causing the 2014 Ebola outbreak in West Africa.   However, knowledgeable observers have countered;  if this was an altered version of the disease, the changes to its structure would be observable to scientists. They point to DNA analysis of samples sourced from 78 individuals affected by the current outbreak was recently published in the journal Science. It found this subtly different variant likely diverged from central African lineages around 10 years ago before spreading into west Africa in May. In other words, the genetic evolution was perfectly natural.  And this observation comes from The Telegraph — hardly a mainstream news source controlled by the “Establishment”.    Boyle’s point about the dangers of bioengineering labs is legitimate; the inference that Ebola has been “weaponized” for use in warfare is not only unfounded but makes no sense, as it would impact civilians more than soldiers, who have the benefit of protective gear.   Healthy skepticism is always welcome, but we encourage you all to be just as skeptical of conspiracy theories as you are of “mainstream” reportage.   Sadly, five health care workers who participated in the DNA analysis done in Sierra Leone are reported to have lost their lives to the disease.   These kinds of issues are real life, with real people being effected.  It seems to us that marginalizing the open and transparent scientific research done on Ebola in order to create a conspiracy theory is disrespectful to those peoples’ lives.

      Reply
  10. Harry
    Harry says:

    I listened to Jim’s interview. I personally believe that our economy (and perhaps world economy) is on the verge of collapse; perhaps not in 6 months as Jim predicts but it is a matter of time.

    I do not question Jim Rickards expertise and insider information. What puzzles me is if he is telling the truth why CIA or perhaps even intelligence agencies outside US are not eliminating him? We all know people who have posed even lesser threat to the establishment (Fed, Govt., Banking system, etc.) have been silenced and even eliminated. So why not him? Is he delivering a message that perhaps they want to be spread. Could he be the messenger for those who want to change our current thinking and behavior?????

    I am really thinking hard to figure this out. I like to believe that he honestly wants to help people. But trusting folks who have at one time worked within the Govt. especially CIA and now are anti establishment is not easy.

    I wish I knew the truth. But only time can tell.

    Reply
    • Clark
      Clark says:

      They don’t want to eliminate him, when they have groups willing to attack and discredit him. If they were to eliminate him, that would instill credibility.

      Reply
    • Jason
      Jason says:

      It’s been twenty months since you posted this.

      How long, exactly, would you give something “on the verge” to actually happen? If not six months, is it nine? Is it twelve? It’s been twenty.

      Reply
  11. expatinasia
    expatinasia says:

    I watched his interview in its entirety. He contradicted himself a dozen times, and flat out lied a couple dozen times more. It’s difficult to believe that any intelligent person would take this guy, or any of his investment recommendations seriously.

    Reply
  12. Sharon
    Sharon says:

    I don’t pretend to know it all. There was a time when I did pretend to know much more than I now do, but now I just live my life the best I can, day by day, hoping I am prepared for the worst but also hoping for the best.
    I don’t know if he is correct or not, but what I do know is we went through some rough times here in America, and when we came out of each and every scare, whether it was because there was an actual occurance or a feared one, we somehow manage to go on. Frankly, I think it has made us all a little wary of the future, and hopefully prepared us to be ready if something happens.
    The fact of the matter is, life happens and expecting to know what will be in our future is futile. Stats are fantastic on paper, but what they fail to take into account is the spirit of a great country, a country who’s people may be at emnity with one another at times, but if something occures will come together as one working body.
    No, I have no faith in our government to work without blackmailing each other into passing bills that inherently help only the rich, (including themselves), but the people of this great land, they are the backbone. Minus the extremists, that is, those will always be with us no matter where they are from. (Though I could do without those who want to kill us for not believing like they do, this isn’t the 1500’s, grow with the times!)
    Perhaps we should just all take a deep breath, pray that we are open to and aware of all things pertaining to us, be prepared, when they are, to take action and just deal with one day at a time.
    The spirit of fear is strong, but God is much stronger!

    Reply
  13. Bill M.
    Bill M. says:

    Keep up the good work in exposing these snake-oil salesmen. If you argue that the market will rise, or that the market will fall, you will always be right (eventually).  Due to ever greater integration of markets due to the forces of globalization the market is frightening, frightening because there are new rules emerging we don't understand, rules that no one understands. I had plenty of friends who bought into the hogwash that people like Jim promote, and have lost tens of thousands of dollars. Multi-source people, read supporting and conflicting claims, study, and make your own conclusions. Beaware of anyone who calls themself an expert on the predicting the market.

    Reply
    • Lewis
      Lewis says:

      In the long term markets always rise this has been true for the past 100 years although in the short term there can be downturns.

      Reply
  14. Jim S
    Jim S says:

    Dear Admin, as a 'just under 50' i found Mr. Rickards' lengthy info message disturbing and yet at the same time starting sensing "something's off" alarm bells.  How come none of the financial networks seem to be discussing this?  From the steady stream of terrible press the White House receives, I am fairly certain the Executive Branch isnt "clamping down on the press."  No question there is great instability in the world at present, but several key points never seem to be discussed.   Firstly, what about the US's extraordinary energy reserves that we are only recently beginning to bring online?  We are now the worlds largest natural gas producer and close to becoming energy independent.  Soon we will probably start exporting.  That should be a significant hedge for the economy. Secondly, the world is heavily intertwined as a result of the global economy.  It would be economic suicide for China, Russia, the EU or Saudi Arabia to do anything to risk bringing down the US economy.  We are China's largest trading partner.  If we go the world economy goes. I am a senior USNavy officer currently studying National Security at the Naval War College.  We have been conducting significant analysis of the global environment out to 2035 and nothing remotely close to the economic catastrophe described by Rikards been either foreseen, suggested or even off-handedly discussed as an intellectual exercise. There is no question we are carrying too much debt, unemployment is still too high and that the US has enemies who would be happy to interdict our financial system.  However i also think there are signs that the overall economic picture is slowly improving.  Mr Rickards may just be inadvertently (hopefully) feeding the "doomsday head for the basement with your canned foods and a years worth of ammo" element that seems to particularly thrive in this country.

    Reply
  15. Golestan
    Golestan says:

    Of course all these “doomsayers” are out to flog books, but that does not mean that they do not have a point. It is at least 5 years ago, that I had that discussion with my broker, that I did not want to invest in US currency denoted securities, because I could foresee the eventual demise of the USD as sole world reserve currency. And when that happens there will be a lot of lose Greenbacks floating around.

    China has since several years proposed to replace the USD with a ‘basket of currencies’. The only reason they have not pressed the point is, that they sit on top of a mountain of treasury certificates and would lose a bundle, if the value of the USD suddenly declines. Recently they have divested themselves of some of the stack of these T-bills, presumably by financing schools, dams and infrastructure projects in Africa and Asia. Now they are targeting the IMF by setting up the Asian Infrastructure Investment Bank (AIIB). Against the wishes of the US most of her “allies” line up to become founding members. And that includes such all time staunch supporters as the UK and Australia. Only Canada (trying to become the favorite poodle) and Japan for reason of its own conflict with China, have so far not joined in.

    All that put together, I do not need that battery of doomsayers to tell me, that the Greenback is in acute danger. Can you really make me believe, that the nations, which have divested themselves of up to 70% their USD denoted securities (UK) will line up on May 12 to 14 to buy those things at near zero interest rates one more time? – even after the FED has reportedly declared that they won’t be buying this time? If the Treasury has to raise the interest to be able to flog their 10-year certificates, then you can kiss the low interest rates for the rest of the economy bye-bye.

    I leave it up to everybody here to figure out what the consequences would be. 🙁

    Reply
  16. Sean
    Sean says:

    Whether or not Rickard’s voucher is a marketing ploy or a genuine inside to whats to come (which i doubt), THERE IS NOTHING US LOWER-MIDDLE CLASS CAN DO IF 70% OF THE ECONOMY CRASHES…N-O-T-H-I-N-G. Rickard understands this ideology in full. We, as humans, always seem to pretend we know all the answers when in reality we barely scratch the surface to truly understanding a particular matter. For example, look back 50 years ago, and then another 50 years from that; what seems to be cannon today is considered ridiculous 50 years from now. Believe me, when this “financial doomsday” happens, the US citizens will be the LAST to know. WE SUCK AT PREDICTING

    Reply
  17. D. Rodriguez
    D. Rodriguez says:

    I just viewed “Death By China” on Netflix, and it PROVES our country is going down, and going down fast! Every American NEEDS to see it!! This is much bigger than I ever imagined!! For the sake of your kids and grand kids please make SURE you view this documentary!! We’re selling THEM the rope THEY”LL be hanging us with!!

    Reply
    • admin
      admin says:

      We were actually involved in the funding and filming of Death by China. We reference it in our blogs, as well. So we agree with this commentator that the movie/book is an important one and worth knowing about. The author of that movie would agree that his message is not that America is losing its ability to compete in the global market as much as to help people understand how policy and personal choices by Americans is effecting the U.S.’ ability to compete in the global markets. It’s a wake-up call, not a eulogy.

      Reply
  18. Philip
    Philip says:

    Thank you. It is tiring to check the claims by doomsayers like this. I appreciate you helping me figure out this guy’s scam.

    Reply
  19. Andrew
    Andrew says:

    I don’t know enough about Jim or about economics to argue for or against his points. Nor do I believe in doom mongering. However, I am of a generation that was given a balance of history, civics, and economics along with liberal arts that I can still make rational judgments and use logic to form conclusions. Unlike most of the current younger generation, who know more about Miley Cyrus than the founding fathers. So indeed, if China is accumulating gold in huge amounts and I can see events play out – China manipulating their currency, the trade imbalance, their economic boom – then I can see we are losing economic steam to China. We have ceded manufacturing for a number of reasons, and where we still make things at home we see that shrinking fast. Coal, oil, for some crazy reason the rest of the developed world does everything it can to capture native resources and our progressive system wants to not produce at home. How long do I think our economy can fuel on service jobs, printing worthless money, debt? If you listen to Jim, for as long as we are the world reserve currency. I do not think the world is looking to the U.S. to be the world currency forever, based on current affairs. I don’t think our government is thinking the American people will always be passive – ergo the massive accumulation of bullets, militarizing get the police, and the premise of the Patriot Act and domestic spying by the NSA. Put it together folks, and we are not the country we were in the 1980s and it is getting worse. So pessimistic, yes I am. But I am not a doomsayers, because I think I will be dead by the time the stuff hits the fan. But I do not see a turnaround, I get to witness the slow fall of the greatest country on earth.

    Reply
  20. Tom Olson
    Tom Olson says:

    Oh no – I just watched Dennis Gartman’s grim opinion on our future. Then I watched Jack Rickards clip on the upcoming 25 year long depression. If that wasn’t enough I stumbled across Mark Farber’s (aka Count Dracula) prediction of a global financial collapse. I have decided to sell everything tonight – property, stocks, car, clothing, you name it because they are saying we will all be living under bridges after this week is over. Goodbye cruel world and thanks for the advice guys!

    Reply
  21. D. Raymond
    D. Raymond says:

    So I’ve read all of these comments with great interest and I thank everyone for taking the time to offer wisdom. Does anyone participating in this discussion have any thoughts on the current market rout in China and impacts to North American markets in the last few days. I can’t decide if it is the beginning of something bigger or merely another blip.

    Thanks

    DR

    Reply
    • John
      John says:

      Re the future of the US market, all you need to know can be found in one chart. Go to stockcharts.com, click on blogs, scroll down to top 5 public Chartlists in the right column, click on Joanna Klein, go to chart number 57 [seventh chart on page 5]…..it’s pretty self explanatory form there.

      Reply
  22. Jared
    Jared says:

    Rickard’s may be a doomsday predictor however he shares some enlightening truths about the gap between fiscal policy and monetary policy. The two are very different yet often coupled together by the untrained eye. PDS is an area where Rickard’s is spot on. (Real output + inflation)-borrowing cost > | taxes – spending| when the formula is fulfilled debt sustainability is achieved. Problem is our monetary policy in conjunction with fiscal policy doesn’t allow for its fulfillment. #catch22

    Reply
  23. Michael H
    Michael H says:

    I’m 45, live in Australia, married with two kids. Both of us work. I’m not yet set up for retirement and need the next 10 years to be a period of prosperity.
    Like all of us, I don’t want to miss out on a secure retirement. If the only argument is that he’s making money from his research and opinion, then you’re
    doing people a great disservice by dissuading people from listening.

    Reply
    • admin
      admin says:

      We’re sorry that you believe our concerns about the “Day After Plan” is that the marketers are profiting from it. There are LOTS of investment schemes which are legitimate and from which people profit; that’s clearly not the issue. If you dig a bit into the article, you’ll find our concern is the unjustified fear-mongering, the complexity of the proposal, and the fact that many of his investment “solutions” are available to people for free. We want potential investors to understand both Mr. Rickard’s dubious track record and the risk inherent in some of his proposed solutions. That’s what the article is about. We hope that clarifies.

      Reply
  24. Lance Pavlovic
    Lance Pavlovic says:

    I read this stuff above and those who believe the world is doomed or that Rickard is in the know are not very well in the loop.

    I’m not going to clarify all facts and i’m not going to even entertain some of the crazy stuff i’ve read here. But i will say this. I’m a 28 year old Australian who hasn’t got millions or billions or even gives credence about money as a motivation to build this, Unfortunately i am at a stage where i actually need the annyoing evil to continue on with this passion and Vision and the only way i can now do that is to do what i know best – Listen to myself and sort out the problem myself.

    I’ve never made a successful company nor have i climbed mount Everest but i will say this. I am clearly not your typical Human and never will be. I think of money as something that comes second if the business created is focused on the customer being happy , because that is what Heroes Hill is all about. A better solution by bringing together the world most powerful tech corporations to deliver an outcome for the now and for the future that actually makes a difference and shows that it doesn’t always have to be the same old billionaires that don’t pay taxes suing each other and stealing ideas off competitors and (me ) tech startups that haven’t even been given a chance because all they care about is another digit at the end of their bank accounts and that the ‘cover your ass cloth’ isn’t misplaced and stays comfy under their fat butts.

    The problem is that the people in the power position aren’t born in this tech generation and even though they do have a lifetime of knowledge, a large proportion of that knowledge will be disrupted by another visionary that always gets the goal no matter how long it takes. Once that Vision has been seen, that Vision becomes reality.

    Reply
  25. Phil
    Phil says:

    The math doesn’t lie. The U.S. is in serious financial trouble and cannot grow itself out of it. It saddens me that Jim Rickards has joined the huckster ranks. See past his hucksterism, his message remains sound.

    Reply
    • Jason
      Jason says:

      The math may not lie, but Rickards certainly does.

      He doesn’t believe any of this. He just shouts it long enough in hopes weak people will buy in.

      Reply
  26. Carl Diener
    Carl Diener says:

    I just read Reikerds latest gloom and doom and he gives an exact date to dump your stocks and load up on gold as, September, 30, 2016.

    I see some of his earlier doom days as 2014 and 2015 that never materialized. Kind of reminds me of those religious, end of the world days that never happened.

    Reply
  27. Mike
    Mike says:

    I really enjoyed reading all these posts in researching Jim Rickards and his advice about the future of money. Obviously, there is a lot of anxiety on the subject, especially when we see and hear about all the financial insanity that abounds. And Jim Rickards definitely proposes an escape hatch as described in his books and commentary, despite whatever readers infer about his motivations from the fruits of his labors. Whether or not his advice is relevant for what coming is up to you to decide, depending on your own unique circumstances. The problem is that nobody knows how this is all going to play out. Not even Jim Rickards. So much remains hidden. But what is the mindset we really want to have in the future? I prefer a deep optimism despite whatever Hell may or may not be coming our way. Remember from Gladiator… “all we can do is smile back.” So be true to yourself and open the appropriate doors when nessecary to protect and advance yourself. Remember, its not really up to you anyway. Let go. Enjoy the ride. Thats what I got from all this. So thanks Jim Rickards and everyone interested enough to make posts. Its all crystal clear now. And that’s what golden.

    Reply
  28. Graeme Sharrock
    Graeme Sharrock says:

    As a teacher of stock and options strategies, I am often asked about the value of personal and financial newsletters. My short answer is, yes, they are generally successful for the writer and publisher. The long answer would be an exposure of the impressively incorrect predictions and failures that Stansberry Research, Jim Rickards and others recycle and sell in their reports and paid subscriptions. The metaphor and parallel that comes to mind is that peddling religion and peddling financial newsletters are very similar operations. No amount of disconfirmation will dissuade the faithful. Instead of relying on recycled theories that have never worked, I encourage students to learn technical trading skills as well as to read quarterly financial reports. Take that subscription money and spend it on the Economist and books by Nobel Prize-winning economists. Its your money–and don’t give it to others to do your thinking for you!

    Reply
  29. Ramona
    Ramona says:

    Here’s what happened to me. He offers a service called “Jim Rickards’ Project Prophesy” where he speaks convincingly about bringing you massive returns if you buy the subscription for $2,000. a year. I sadly believed him because of all of his credentials, previous experience and company behind his services. I paid subscription 2 days ago, got my info and checked the program and saw that this project is only for future traders, not for the normal stocks or for day traders and investors. Also in the portfolio he has only 4 trades where two of them are loosing massive amount of money and only two are earning something. So, I realized I was scammed and called them to cancel and get my money refunded and they told me the money is never going to get refunded just they will not charge me anymore. They even had me in auto renewal without my permission, so they are scamming old people and charging them every year and don’t refund any money at all…

    Reply
  30. Jules
    Jules says:

    Thanks Ramona, your experience has explained the legitimacy of Jim Rickards offer. I think he also one of the editors of Money Map Press which was a company I originally joined for trade info. I found I couldn’t get a broker in this country (Australia) to help with tips of their trades and I certainly couldn’t get a broker in the USA, they don’t do it for Australia. I got my money back from that corporation minus the currency exchange fee and the value of the dollar. You might be able to get some leverage by speaking to them, he may work for them which might be how he got my email address originally. Company’s like that don’t like that kind of bad publicity.

    Reply

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