It was pretty clear-cut, they assured me. Locally, they’d cover in depth Australia’s increasingly souring relationship with its biggest trading partner, China.
But on the whole, there would be ‘only one story in town’ for 2020. To paraphrase James Carville, ‘It’s the election, stupid.’ The American one. They would start with the primary season and televised debates on the Democratic side. As the Democratic nominee became clear, then Jim would cover the conventions — going to them, meeting the candidates, bringing you his typically Jim Rickards predictions. Then it would be on to the debates between Trump and the Democrat, any ‘October surprises’, then the election itself. In the aftermath, they’d look at the wider impacts for the world, the markets and Australia.
It all seemed straightforward. Or so we thought.
By late January last year, our plan was in pieces.
Everyone’s plans in the entire world were in pieces.
But while the white-hot media glare stayed on the SARS-CoV-2 virus in 2020…a new, even bigger investment story began percolating. It’s one Jim has gone on record predicting for years. He wrote about it at length in his previous books Road to Ruin (2016) and Aftermath (2019). The stories endgame…and how to invest for it is mapped out in his latest book The New Great Depression: Winners and Losers in a Post-Pandemic World. (If you haven’t got a hold of one of our exclusive Australian editions yet, you can do so here.)
I’m talking about the concept of a ‘monetary reset’ using this ongoing global crisis as cover. As Jim told readers in a warning report in January 2020:
‘What do you do when your computer gets this mucked up? You restart it.
‘Begin again from scratch.
‘The elites have done this five times in the last hundred years.
‘I believe it’s about to happen again.’
While everyone’s attention was focused elsewhere, the case for a Control-Alt-Delete of the financial world quietly got stronger by the month.
By March, we were in the new great depression (outlined here), caused not by the virus itself but by the policy response to the virus. The global economy had entered the lockdown world we still find ourselves in today.
A global health crisis…and new great depression…and social upheaval.
The perfect incubation conditions for a reset
So, that quickly became our Jim’s central topic for 2020; they spent the year screaming about it from the rafters.
Telling readers what the stakes are if what we predict for this reset event actually happens.
And how to prepare their portfolios for it.
It sounds rather Orwellian.
But it’s out in the open now.
Jim Rickards has been right all along, as usual.
The plutocrats/Great Resetters/World Economic Forum are even calling their next meeting ‘The Great Reset’.
Possibly the clearest mainstream warning yet of the massive heist that’s about happen has now come from the Roman Catholic Church. As The Spectator writes:
‘But Cardinal Gerhard Müller, formerly one of the Vatican’s highest-ranking officials as prefect of the Congregation for the Doctrine of the Faith, has not allowed diplomatic tact to modify his criticism. His being “emeritus” helps too.
‘The principle of the “Great Reset”, he warns, though he avoids using that name, amounts to a “new colonialism” to be imposed through the “converging and merging” of “profiteering capitalism, the big-tech giants of Western countries” and “the communism of the People’s Republic of China.”
‘The result, he told the journalist Edward Pentin of the (American) National Catholic Register, will be a “unified capital-socialism” determined to regulate not only what you say, but what you do and think — presumably to eliminate even the possibility of criticism of itself. Such an amalgam would be above the reach of individual national governments and thus in a position to exercise global hegemonic authority, in the same sort of way the EU does in Europe.
‘Indeed, there are even national leaders who favour the Reset — most notably Boris Johnson and President Biden, who calls it, when he can remember the words, “Build Back Better” — though one wonders whether they realise what they’d be letting themselves, or more importantly their electors, in for.’
This is what Jim Rickards has been warning you of all along.
All of these forecasts are playing out exactly as we described to readers.
It’s perhaps the biggest investment story of the first half of this century.
It’s going to happen this year.
And hardly anyone is talking about it.
You need to get a deep understanding of it right now. You can start by reading Jim’s latest book ASAP. And by reading Jim’s latest update on the topic below…
Group Publisher, The Rum Rebellion
It’s Great Reset Time
For years, commentators like ourselves have discussed a global monetary realignment that is sometimes called The Big Reset or The Great Reset.
Details vary depending on the source, but the basic idea is that the current global monetary system centered around the dollar is inherently unstable and needs to reform.
Part of the problem is due to a process called the Triffin Dilemma, named after economist Robert Triffin. Triffin said that the issuer of a dominant reserve currency had to run trade deficits so that the rest of the world could have enough of the currency to buy goods from the issuer and expand world trade. But, if you ran deficits long enough, you would eventually go broke.
This was said about the dollar in the early 1960s. In 1969, the IMF created the special drawing right (SDR), possibly to serve as a source of liquidity and alternative to the dollar. In 1971, the dollar devalued relative to gold and other major currencies. SDRs were issued by the IMF from 1970 to 1981. None were issued after 1981 until 2009, during the global financial crisis. A small amount was also issued in 2011.
The Bretton Woods conference of 1944 set the global financial system that still prevails today. The period of 1969–71 can be regarded as the First Reset, which involved the creation of SDRs, the devaluation of the dollar, and the end of the gold standard.
Now, it looks like the long-expected Great Reset is finally here…
The IMF is planning to issue $500 billion of new SDRs, although some Democrat senators are lobbying for an issue of $2 trillion SDRs or more. This would be almost 10 times the amount of SDRs issued in 2009 and would go a long way to increasing SDR liquidity and advancing the globalist agenda of eventually having the SDR replace the US dollar as the leading reserve asset.
This proposal closely follows the global elite game plan predicted in chapter two of my 2016 book, The Road to Ruin. The Great Reset is coming fast. Given the planned dollar devaluation, it’s one more reason to own gold and silver. The future is here.
Savers are being led to the digital slaughterhouse.
Get ready to pay up.
But there’s more to the Great Reset than the issuance of new SDRs as described above. Here’s another breaking news story that validates the longstanding prediction of a coming reset in the global financial system.
In 1999, the euro replaced the individual currencies of Germany, France, Netherlands, Italy, and other major economies in Europe. Today, the number of countries that have joined the euro is up to 19 and more countries are awaiting admission. The euro is the second-largest reserve currency asset after the US dollar. The creation of the euro can be thought of as a steppingstone from national currencies to a single world currency.
Now, the euro (along with the Chinese yuan) is moving quickly to become a Central Bank Digital Currency (CBDC). A CBDC combines a traditional currency with the blockchain technology of a cryptocurrency. It’s an important move in the direction of eliminating cash and forcing users into a 100% digital system using credit cards, debit cards, and smartphone apps.
Why are China and Europe so focused on eliminating cash? We’ve said all along that you cannot put negative interest rates on consumers until you eliminate cash. Otherwise, savers would just withdraw cash from the banks and stuff it in mattresses to avoid the negative rates. Implicitly, the ECB seems to agree.
As described in this article, one of the ECB Board members says that negative rates (really confiscation) will be applied as a ‘penalty’ against ‘hoarding’ cash.
In plain English, that means they will create digital money, force you to spend it, and if you don’t spend it, they will take it away as a ‘negative rate’.
Now all the pieces of the global elite plan are converging. The IMF SDR issuance (described above) will reliquefy global central banks which cannot print dollars. CBDCs will be used to eliminate cash. Once the cattle (that’s us) have been herded into the digital slaughterhouse, we will be told to ‘use it or lose it’ when it comes to our own money. In other words, either we spend the money or the government will take it away.
Of course, the spending can be channelled into politically correct causes by excluding unpopular vendors such as gun dealers or conservative social media platforms from the payment system. This represents total domination of human behaviour through world money + digital currencies + confiscation. This is not speculation anymore; it’s happening in front of our eyes.
The only solution is to use a non-digital, non-bank store of wealth that cannot be traced or manipulated. That would be gold. Get it while you still can.
Wikipedia defines the elites as follows:
‘In political and sociological theory, the elite (French élite, from Latin eligere, to select or to sort out) are a small group of powerful people who hold a disproportionate amount of wealth, privilege, political power, or skill in a society.’
This is no conspiracy theory. These people exist. They hang out with each other. They plan. And they don’t believe ‘traditional capitalism’ is working anymore. Not for them, anyway.
Instead, what they need is a form of global socialism. Sweeping new government programs…capital restrictions…far-reaching new policies and regulations…new wealth taxes…maybe even a new global currency.
They’re saying it’s to ‘rebalance’ the global economy. What they aren’t telling you about is that they’ll be rebalancing it in THEIR favour. COVID-19 continues to provide them with the perfect camouflage to pull this off. To learn more about Jim Rickards’ The New Great Depression: Winners and Losers in a Post-Pandemic World, click here.