A Violent End for the Global Financial System

Tuesday, April 1, 2014
By Paul Martin

by Callum NewmanD
DailyReckoning.com
Mar 31, 2014

Here’s a World War D scenario for you, dear reader…

As a retaliation for US sanctions on Russia in the wake of the invasion of Ukraine, Russia responds like this: Hackers attack the New York Stock Exchange and force it to close indefinitely; the Russian government dumps its billions of US Treasuries in the open market, causing interest rates to rise and crashing the US real estate market. The banks go into turmoil as people panic and withdraw their money. It would be a Russian strike on the US, without firing a shot.

That’s just one scenario hedge fund manager, economist and author Jim Rickards painted on the new era of financial warfare in his speech this morning at World War D.

Rickards had the unenviable task of following on from Marc Faber’s opening act. But any man that’s war-gamed at the Pentagon is going to have a lot to say when it comes to financial warfare. And in a world of interconnected currencies, derivatives, hedge funds, and bond and stock markets, your money is right in the middle of it. We’re all hostage without even really thinking about it.

And if you think the Russian scenario above is far-fetched, Rickards pointed out that the US effectively did something similar for real in Iran. It was only a few years ago that the US government shut Iran out of the US dollar payments system. This was in response to Iran’s nuclear program.

The Rest…HERE

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