The United States is facing a “financial Pearl Harbor,” and according to one expert, we are unfortunately helpless to defend against it.
The seeds of this war were planted years ago, and now our country, more specifically our economy, is under serious threat from this “war.”
In short, the United States fired the first shot in this financial war when it started printing massive amounts of money, called quantitative easing or QE1, back in November of 2008. This was done in an attempt to help pull the country out of the Great Recession. It didn’t work, and the subsequent attempts to print our way out of trouble (QE2, QE3, Operation Twist, etc.) just weakened our dollar more and more.
To retaliate against the weakened dollar, other countries have devalued their own currencies, and many issued stern warnings to the United States against further actions.
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.
But Japan just fired the loudest shot yet, announcing that its central back is going to purchase more bonds and other assets in an attempt to hit 2% annual inflation. This led a Morgan Stanley analyst to warn that if there wasn’t a currency war before, “there might be one now,” and a spokesman for Germany’s Chancellor Merkel said that Japan’s moves “risked retaliation by other Group of 20 nations.”
So what is a currency war, and why do you need to takes steps today to protect your wealth from being destroyed as this war plays out?
A currency war is when nations intentionally devalue their currencies against each other to boost their economies. It makes repaying the debt you owe cheaper, but it angers the people to whom you owe money. With the U.S. debt rising to $17 trillion, you can see why our government views cheapening the dollar as an appealing solution. But history has shown that currency wars always cause stagnation, dangerous inflation, and unstable financial markets.
: Watch Exclusive Documentary Declassified: America's Coming ‘Economic Pearl Harbor’ Here.
But the real problem is when other countries retaliate. And due to advances in technology, the ability of other countries to retaliate against the United States is more devastating than at any point in history. Not only can they use derivatives, stocks, sovereign wealth funds, and even gold to “get even” with the United States, but there are now concerns that “unfriendly” nations may have access to credit card information, banking accounts, and other sensitive areas of your personal finances.
It’s a threat that our military and national intelligence community are taking very seriously.
They have enlisted the help of James Rickards, the Senior Managing Director at Omnis, Inc., a consulting firm in McLean, Va. A lawyer and investment banker, Rickards has spent more than 35 years on Wall Street.
Rickards, along with the highest ranks of the Pentagon, military, and national intelligence community, is running virtual “war games” at the Warfare Analysis Laboratory.
And Rickards warns: “The best-case scenario, this currency war will destroy the dollar and your wealth. A worst-case scenario is global great depression and international turmoil that escalates to military conflicts.”
But the largest threat to your wealth may not be from some foreign country retaliating against the United States.
Rickards says the U.S. government could be the root cause of your financial misery.
He even went so far as to warn during a Treasury briefing that “Ben Bernanke’s dollar-weakening policies could be more dangerous to our economy and the national security of the United States than al-Qaeda.”
Rickards made the statement because the U.S. government has been sacrificing the wealth of average Americans in recent years.
By trying simultaneously 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.”
: 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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