Money Riots Possible in Next Economic Crash-James Rickards…”They are going to lock down the system and close the banks.”
By Greg Hunter
USAWatchdog.com
October 31, 2016
Three time best-selling author James Rickards says the next economic crash will lock you out of your money. Rickards has a new book titled “The Road To Ruin.” Rickards paints a scary possible scenario for what is coming and contends, “The global elites have a secret plan for the next financial crisis.” Rickards goes on to explain, “They are going to lock down the system when the crisis hits. In 1998, everybody wanted their money back, and they printed the money. In 2008, everybody wanted their money back, and they printed the money. In 2018 or sooner, everyone is going to want their money back, but they are not going to print the money. They are going to tell you that can’t have it. They are going to lock down the system and close the banks. Money market funds are going to suspend redemptions. Stock exchanges are going to be closed, and they’ll say it’s ‘temporary.’ That’s what Nixon said when he closed the gold window in 1971. . . . They will do it to buy time until they can flood the market with SDR’s (Special Drawing Rights IMF currency).”
So, do we get inflation or deflation in the upcoming economic crash? Rickards says, “You might get some deflation first, but I don’t expect that because central banks are trying so hard to cause inflation. The natural state of the world is deflation right now. . . . But governments can’t have deflation, it destroys the tax base. . . . So, you have natural deflation and policy inflation, and they are pushing together. It’s an unstable equilibrium, and at some point, it is going to snap one way or another. If it is deflationary, and I don’t expect this, the policy will be even more money printing. . . . As far as the SDR’s are concerned, it will certainly be inflationary. . . . You may not be able to save the world, but you can save yourself and family by getting into some assets that will stand this inflation and be non-digital. Any digital money can be locked down with a few key strokes. Non-digital money such as gold, silver, fine art, land, natural resources, water and there is a long list of things . . . those are the things that are going to last. . . . The other point I make is that when this happens, it will happen very quickly. . . . You won’t know it in advance, and the stock market will be closed when you decide to get out of the stock market. You may not be able to get gold. Right now, you can get it . . . but in a panic when it’s going up $100 per ounce per day, you’ll be watching the price go up, but you won’t be able to get it.”
Rickards predicts a complete lock down of the global financial system for “at least weeks and possibly months.” Rickards contends, “Definitely weeks and perhaps months, and it could turn into Mad Max. It could turn into what I call money riots with people burning down banks, but the elites are ready for that also. . . . What they have done because you can’t turn the military into police, they turned the police into military. As the money situation gets worse, states and elites will not go down without a fight.”
Join Greg Hunter as he goes One-on-One with renowned financial expert and best-selling author, James Rickards, whose latest book is titled “The Road To Ruin.”
(There is much more in the video interview.)
