Coast To Coast AM 2014.04.28 - Collapse of the Dollar - Public Hypocrisy

Collapse of the Dollar - Public Hypocrisy

Audio Bit Rate: 48 kbps Sample Rate: 44100 Hz Mono MP3

Date: 04-28-14
Host: George Noory
Guests: James Rickards, Zac Bissonnette

In the first half, investment banker and risk manager James Rickards discussed why he believes the coming collapse of the

dollar and the international monetary system is entirely foreseeable, and what we can do to protect ourselves. The

International Monetary System has actually collapsed three times in the last century-- 1914, 1939, and in 1971 when Pres.

Nixon took the dollar off the gold standard, he pointed out. When this happens, it means that the major financial players

in the world get together to rewrite "the rules of the game," he said. The incidents of collapse were all tied to wars--

WWI, WWII, and Vietnam, he added.

The next collapse will likely result in a high inflationary period and the people most hurt will be those on a fixed

income, whose dollars will be worth less. There are also winners during inflation, such as those with fixed assets, like

owning a factory, gold, or other currencies, he continued. The dollar will still be used in the US as local currency, but

it will no longer be the leading global reserve currency-- that could be SDRs, a reserve asset of the International Money

Fund (IMF), he explained. Rickards recommended that people devote around 10% of their assets to gold such as the American

Gold Eagle, which would increase in value during an inflationary period.

In the latter half, Zac Bissonnette, a personal finance writer, talked about the various ways people from all professions

lie to the public in sometimes outrageous, unbelievably arrogant, and hilarious ways. It's become way too easy to become a

trusted authority in America-- so many of the people anointed by the mainstream media, business world, and the political

class turn out to be frauds or hypocrites, he declared. For instance, former NY governor Eliot Spitzer talked about

"making New York as ethical as the people that live there," he cited.

Bissonnette has found the field of self-help in particular to yield many cases of "Do as I say, not as I do." An extreme

example was the motivational speaker Ernest Garlington who advocated for people finding deeper spiritual connections, and

then was convicted of ordering a hit job on his wife's former husband. There was also former US Sec. of Education Bill

Bennett, who published books on virtues and morality, but in 2003, it was revealed he'd lost more than $8 million gambling

in Las Vegas. Beyond the hubris that seems to be a common denominator amongst such cases, there may be an element of

projection going on, in which people have a dishonorable impulse inside of them, and then seek to warn others about the

same human foible they are more prone to than anyone else, he suggested.

News segment guests: Katherine Albrecht, Mitch Battros
Website(s):

jamesrickardsproject.com

Book(s):

Currency Wars
The Death of Money
Debt-Free U
Good Advice from Bad People