Silly Jim Rickards Plots Out a Fizzling Shanghai Dollar Attack
For years now, Jim Rickards has been predicting the collapse of the U.S. economy and civilization itself every six months or so as a way of getting you to buy his $50/year newsletter. Using a website to create the appearance of an outfit with the cold-weather-sweater-sounding title of “Agora Financial,” Rickards exploits the trend of inflation to convince credulous readers that all their wealth is going to fall away unless they click his links right now and… buy his $50/year newsletter.
In his latest advertisement, Rickards makes the mistake of referring to an actual historic event as an attack on the value of the dollar:
How can you be so sure this attack on your cash won’t stop?
Take a look at what happened just this past February 26:
In a backroom meeting during the G20 summit in China, world financial elite agreed to another deal to crush the dollar. My insider friends call it the “Shanghai Accord”.
Put simply, the global monetary mafia sold out the dollar to give a boost to Wall Street traders… and the political elite in Washington, D.C. and Beijing.
Notice how Rickards zoomed in on just a few months? He wanted you to think that the dollar was falling at a crazy, incredible pace. The value of the dollar is measured by the Consumer Price Index by the Bureau of Labor Statistics. Let’s zoom out a bit using the latest report from the Bureau of Labor Statistics and look at how the CPI has been changing since the “Secret Shanghai attack” on the dollar:
Golly. After that secret attack on the dollar in Shanghai, the value of the dollar as measured by the CPI has… been at a historically low level and kind of stable.
Not exactly a good advertisement for a panicky $50 newsletter and all the crazy pitches that follow, is it? It’s easier and, let’s face it, a bit more fun to panic and imagine imminent doom. The drama is high, the adrenaline kicks in, and we can imagine a soundtrack. Unfortunately, it’s a soundtrack to a hustle by the likes of Jim Rickards. Walk away from the hustle. Just walk away.