Two words you never want to hear about something important to you and your way of life: DEATH SPIRAL.
But those are the exact words that were just used by two top, well-respected analysts.
Fresh warnings out from the top analyst at Bank of America and a top professor at the prestigious Wharton School of Business just posted serious warnings for the United States economy and the US Dollar.
Hey, don’t say I didn’t warn you…
Let’s start here, Bank of America issues major warning of a US Dollar Collapse:
BRICS: Bank of America Issues Major Warning of a US Dollar Collapsehttps://t.co/uC63lhh5vc
— BRICS (@BRICSinfo) March 6, 2024
And here:
“Bank of America warned in the latest piece that the US dollar and economy face a “blowout year” in 2024. The growing national debt is the main reason why the US economy could be poised to head south. “The US national debt is rising by $1 trillion every 100 days,” Michael… https://t.co/VPpsm5OQEK pic.twitter.com/r7QzutRu7T
— Chad Steingraber (@ChadSteingraber) March 6, 2024
“Bank of America warned in the latest piece that the US dollar and economy face a “blowout year” in 2024. The growing national debt is the main reason why the US economy could be poised to head south. “The US national debt is rising by $1 trillion every 100 days,” Michael Hartnett, Chief Strategist of Bank of America wrote.”
“Hartnett warned that the collapse of the US dollar is imminent if the debt grows out of control this year. “This doesn’t end well,” wrote Genevieve Roch-Decter, a former Asset Manager at the Grit Capital. Also, #BRICS is now waiting for a possible US dollar decline and could advance with a new currency in the global market.”
EXACTLY what Bo Polny keeps telling us too!
Here’s more, from Watcher.guru:
The US national debt is now growing by $1 trillion every 100 days since 2023. The uncontrolled debt could lead to a financial disaster wreaking havoc not only in the US but across the world. BRICS and other developing countries are worried that a US dollar debt could make their native economies crash. Keeping the US dollar in reserves is now seen as a threat that could undo years of financial stability.
The US dollar national debt now touched a new high of $34.4 trillion and is barely under control. Elected representatives at Capitol Hill and officials from the Federal Reserve are unable to tame the ever-growing debt.
Amid the economic turbulence, Bank of America has issued a warning about a possible US dollar collapse. Moreover, this allows BRICS to spread the de-dollarization initiative across the world.
Bank of America warned in the latest piece that the US dollar and economy face a “blowout year” in 2024. The growing national debt is the main reason why the US economy could be poised to head south. “The US national debt is rising by $1 trillion every 100 days,” Michael Hartnett, Chief Strategist of Bank of America wrote.
Hartnett warned that the collapse of the US dollar is imminent if the debt grows out of control this year. “This doesn’t end well,” wrote Genevieve Roch-Decter, a former Asset Manager at the Grit Capital. Also, BRICS is now waiting for a possible US dollar decline and could advance with a new currency in the global market.
Forbes confirms and adds a warning from Wharton Business School finance professor Joao Gomes:
“The U.S. national debt is rising by $1 trillion every 100 days,” Michael Hartnett, chief strategist of Bank of America, wrote in a note to clients seen by CNBC, adding it’s “little wonder ‘debt debasement’ trades closing in on all-time highs, i.e. gold [at] $2077/oz [and] bitcoin [at] $67,734.”
Hartnett predicted the newly created spot bitcoin exchange-traded funds (ETFs) that have taken Wall Street by storm over the last month are on course for a “blowout year,” in part because of the collapse of the U.S. dollar.
BlackRock’s IBIT, the largest new spot bitcoin ETF, has this week eclipsed $10 billion in assets under management while Fidelity’s FBTC has raked in $6 billion since their early January debut, pushing the bitcoin price higher in what’s been called bitcoin’s “IPO moment.”
Inflows into the new spot bitcoin ETFs have suddenly accelerated over the last two weeks, fueling wild predictions that bitcoin could “steal gold’s crown” as the world’s “prime store-of-value.”
U.S. national debt has skyrocketed in recent years, crossing the $34 trillion mark at the beginning of 2024, as Covid and lockdown stimulus measures—triggering wild predictions last year the bitcoin price could boom to $1 million per bitcoin.
03/04 update: Wharton Business School finance professor Joao Gomes has warned spiraling U.S. debt could plunge the U.S. into a financial crisis as soon as next year.
“It could derail the next administration, frankly,” Gomes told Fortune. “If they come up with plans for large tax cuts or another big fiscal stimulus, the markets could rebel, interest rates could just spike right there and we would have a crisis in 2025. It could very well happen. I’m very confident by the end of the decade one way or another, we will be there.”
Last month, The Black Swan author Nassim Taleb said he believes the U.S. economy is in a “death spiral … as long as you have Congress keep extending the debt limit and doing deals because they’re afraid of the consequences of doing the right thing, that’s the political structure of the political system, eventually you’re going to have a debt spiral,” Taleb said at an event, it was reported by Bloomberg. “And a debt spiral is like a death spiral.”
“This doesn’t end well,” Genevieve Roch-Decter, a former asset manager who writes the Grit Capital newsletter, posted to X.
Remember when I told you about this?
Makes a lot of sense now, doesn’t it?
Got Gold?
If not, keep reading and I’ll show you how you could add Gold to your portfolio for NO MONEY OUT OF POCKET. Yes, it’s real.
New BRICS Currency Value: $55 Per One BRIC?
Earlier today I brought you big news from the BRICS nations….
And very BAD news for the USA and the US Dollar.
That report here:
DeDollarization Accelerating: BRICS Nations Launch Payment Network — USD Crash Incoming?
And now that this is accelerating so fast, I want you to see this....
Where does it all land?
What does the "new Financial system" look like?
Read this:
New BRICS Currency -- $55 Per One BRIC?
Heads up folks...
We've been covering this story for a long time and it looks like it's about to launch very soon.
And the results could be devastating.
Depends on your perspective I guess, because GOLD very well could soar!
Allow me to explain.
We've been telling you about the coming BRICS currency that will directly challenge the US Dollar as the world reserve currency.
That's bad...very bad.
Reports are now saying the BRICS currency will be backed by GOLD.
Remember when we took the US Dollar off the gold standard?
Foolish.
And it looks like those chickens are coming home to roost.
EXACTLY like Bo Polny has been telling us each time he comes on my show.
But now let's dig into the details (and be sure to read to the end where I tell you what YOU can do to protect yourself -- you are not a victim or a bystander here, you can take action! More on that below)
Here is Jim Rickards explaining how the BRIC will likely be priced:
What's the value of the BRICS currency? pic.twitter.com/26oyfoOBWa
— Megan 🇪🇺🇨🇦 (@Megan7560964546) August 9, 2023
And here is another one that claims the BRIC will be valued at $55 USD / one BRIC.
Oh my, that is very bad for the US Dollar.
You have to watch this:
WARNING: Economic Warfare!BRICS nations to launch the BRIC currency....
$55 / one BRIC
Will lead to MASSIVE inflation in U.S. dollar, and HUGE loss of purchasing power.
U.S. to devestated.
GOLD to soar?
— DailyNoah.com (@DailyNoahNews) August 13, 2023
In case you feel a little lost right now, you need to read my prior report which gives you all the backup for how we got here.
And towards the end is what YOU can do right now to protect yourself.
Keep reading:
Jim Rickards: New Gold-Backed World Currency UNVEILED August 22nd!
Want the future in advance?
That's what Jim Rickards is claiming to bring you.
In case you don't know Rickards, he's a somewhat legendary figure in the world of finance.
Definitely a lightning rod.
And we like lightning rods around here.
We like people who put out information and then stand behind it....
....people who are bold enough to put out something controversial!
Don't want to make any enemies?
Don't want to be criticized?
Stay in your parents' basement and don't ever do anything noteworthy in life.
But to the people who step out and go for it, we like those kind of people around here -- even if they're wrong sometimes.
Will Jim be wrong about this?
We will see soon, but I know one thing: it's fascinating and we're covering it here and warning you ahead of time!
So first of all, we have to explain who is Jim Rickards in the first place?
Jim is ex-CIA, which I always say is kind of a misnomer because are you ever really "ex" CIA?
I don't think so.
Actually more accurately I believe the story goes that Jim was hired by the CIA to war plan financial attack scenarios that could bring down the USA.
Noble goal.
So if you want to find out what possible financial attacks could be launched against the USA you want to go to one of the best and most creative financial minds out there and so they went to Rickards.
So that's the background of who he is and why he matters.
Now let's cover his latest message, which is the BRICS nations will be adding new members and announcing an official gold-backed world currency on August 22, 2023 which will dethrone the dollar.
Sound familiar?
Sound exactly like what Bo Polny keeps telling us?
Pay attention folks, this is no game!
If and when the US Dollar collapses, you want to be on the right side of that collapse, because it will get VERY ugly, very fast.
Linda P. Jones is another notable figure in finance and her she is covering the same story -- US Dollar "end" is August 22:
Whoa! Jim Rickards predicts the end of the US dollar hegemony will be August 22, 2023. Mark your calendars! #BRICS https://t.co/So2yhvf8gH
— Linda P. Jones (@LindaPJones) July 7, 2023
Here's more on the plan, fully explained by MROnline:
In an op-ed posted on The Daily Reckoning on Tuesday, former CIA and Department of Defense advisor and investment banker James Rickards predicted that August 22 will be the day the U.S. dollar’s status, as the world reserve currency and medium for exchange will formally collapse.
Many factors are worth considering, including the weaponization of the dollar against Russia’s economy amid the conflict in Ukraine, the U.S.’ own national debt of $31 trillion, and recent talks on the part of the BRICS+ group to create an alternative trade and reserve currency that would rival the dollar.
“On August 22, about two-and-a-half months from today, the most significant development in international finance since 1971 will be unveiled,” Rickards writes in reference to the upcoming BRICS+ Leaders Summit which will unveil plans for substituting the dollar in global trade.
What is interesting to note is that on that same day in 1971, August 22 was also the day the U.S. dropped the gold standard. “It involves the rollout of a major new currency that could weaken the role of the dollar in global payments and ultimately displace the U.S. dollar as the leading payment currency and reserve currency,” Rickards added, noting that the shift could span over a period of “just a few years.”
Rickards says the push for a new currency spearheaded by the BRICS+ group will “affect world trade, direct foreign investment and investor portfolios in dramatic and unforeseen ways,” and cause an “unprecedented […] geopolitical shockwave.”
He also said that the BRICS+ plans for expansion are “the most important development of the BRICS system,” noting that eight countries have so far already applied for membership, along with twelve others expressing an interest in joining the bloc, including Saudi Arabia, which assisted the U.S. in propelling the dollar currency to the status of world hegemon through establishing the petrodollar system.
“There’s more to this list than just increasing the headcount at future BRICS meetings,” Rickards emphasized, pointing out that “if Saudi Arabia and Russia are both members, you have two of the three largest energy producers under one tent (the U.S. is the other member of the energy Big Three).”
On another note, the BRICS countries make up 30 percent of the world’s surface, with 50 percent of global wheat and rice production, and 15 percent of the planet’s gold reserves. It accounts for 40 percent of the world population, 28 percent of nominal GDP (pending Saudi Arabia’s membership), and 52 percent is measured under the PPP formula.
“By every measure—population, landmass, energy output, GDP, food output, and nuclear weapons—BRICS is not just another multilateral debating society. They are a substantial and credible alternative to Western hegemony,” Rickards said.
Accordingly, when the bloc launches its new currency, it will not simply “fall on an empty field,” but be integrated “into a sophisticated network of capital and communications,” which should “greatly enhance its chances of success,” he argued.
Elsewhere in the op-ed, Rickards said that the BRICS currency is expected to be pegged to a basket of trade commodities or gold, and will likely appear in the form of a digital currency instead of paper money.
He also said that chances for success for the BRICS currency to replace the U.S. dollar will depend on the formation of an alternative to the U.S. bonds market which is seen as the safest bet to safeguard assets value.
“The key is to create a BRICS+ currency bond market in 20 or more countries at once, relying on retail investors in each country to buy the bonds. The BRICS+ bonds would be offered through banks and postal offices and other retail outlets. They would be denominated in BRICS+ currency, but investors could purchase them in local currency at market-based exchange rates. Since the currency is gold-backed it would offer an attractive store of value compared with inflation,” Rickards writes.
He added that “if the BRICS+ use a kind of Liberty Bond patriotic model, they may well be able to create international reserve assets denominated in the BRICS+ currency even in the absence of developed market support. This entire turn of events—introduction of a new gold-backed currency, rapid adoption as a payment currency, and gradual use as a reserve asset currency—will begin on August 22, 2023, after years of development.”
The collective push to replace the U.S. dollar as the world reserve currency has much to do with Washington’s “weaponization of the dollar through the use of sanctions,” Rickards writes.
Are you paying attention?
Got gold?
You're going to wish you have some if Rickards is right!
KEEP READING and I'm going to tell you what you can do about it to protect yourself....
More on that in just a minute.
Jim Rickards: The “BRICS+” countries will announce the creation of a new currency at its annual leaders’ summit conference on August 22–24.
This will be the biggest upheaval in international finance since 1971. It’s taking direct aim at the Dollar.
Quite simply, the world is…
— Silver Gold News (@SilverGold_News) June 21, 2023
The biggest shock to the international monetary system since 1971:
#DollarCollapse | "THIS WILL BE THE BIGGEST SHOCK IN THE INTERNATIONAL MONETARY SYSTEM SINCE 1971!...August 22nd 2023" - Jim Rickards + "BRICS to Introduce a New GOLD-Backed Currency In Contrast to the Credit-Backed U.S. Dollar." (7/3/23)#GreatReset #TheGreatReset #CBDCs… pic.twitter.com/QPNMt27BXf
— Clay "ReAwakening America" Clark Griswold (@TheClayClark) July 9, 2023
A lot more in here:
https://www.youtube.com/watch?v=WuJojYDyNRQ
Ok, so now for everyone asking me what can we do about it, here are my thoughts.
First of all, it's NOT too late!
That's the first thing you need to understand.
It's not too late but you need to move quickly.
You CAN protect yourself and if you follow what I show you below it won't cost you anything out of pocket.
I'm not a financial advisor, but I always say one thing...
Don't listen to what they TELL you to do.
(That's the misdirection)
Just like a magician trying to keep you distracted while he hides the ball in his other hand, the Federal Reserve and all the so-called "experts" will almost always TELL you the opposite of what is sound advice.
But you should always watch what they themselves are actually doing....
So what are they doing?
Simple: buying GOLD.
Just like I've been telling you for the last 6 months!
Does it all make sense now?
Starting to see the plan all come into focus?
Who has been warning you?
Me!
And Bo Polny!
Take action...
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Don't wait too long, we might have more bank failures right around the corner.
You know what has NEVER "failed"?
Gold. Precious metals. Indestructible.
There's a reason they call it "God's money".
Watch this for more:
Don't wait until it's too late!
This is a Guest Post from our friends over at WLTReport.