Jim Rickards, the Financial Threat and Asymmetric Warfare Advisor for both the Pentagon and CIA, teaches that there are five potential triggers for an American economic collapse.
“Catalyst #1: Foreign Ownership of U.S. Gov’t Debt
Catalyst #2: The Fall of the Petrodollar
Catalyst #3: Global Gold Rebalancing
Catalyst #4: The Collapse of China
Catalyst #5: The IMF’s Plan to Replace the Dollar.”
Jim Rickards summarizes these five catalysts below:
On several occasions, I have written that the United States is $18 trillion dollars in debt, has over $240 dollars of unfunded liabilities and our share of the credit swap derivatives debt is over $1 quadrillion dollars. As a country, the U.S. only takes in about $2 trillion dollars per year and that is about the same cost of the wars of occupation that we are fighting. Just based on the debt alone, the United States’ economy must collapse.
This morning I wrote about the Baltic Dry Index and stated that the global economy is on the verge of coming to a complete halt. Please refer to the article I wrote this morning and know that the global financial meltdown will begin in Greece, spread to Spain, then Ireland. Turkey has joined with Russia in a monumental energy deal . Germany and France are dependent on Russia for gas. We are witnessing not only the collapse of the global economy, we are going to see the breakup of the European Union and then NATO. America’s military will stand alone with Britain.
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