The Year of Cascading Crises

Strap In [The Daily Reckoning] February 20, 2024 [WEBSITE]( | [UNSUBSCRIBE]( The Year of Cascading Crises Portsmouth, New Hampshire [Jim Rickards] JIM RICKARDS Dear Reader, I often write about different crises, but usually one at a time. Whether it’s a market crash, recession, bank failures, etc. I take them on an individual basis. But what about a cascade of crises? What about a situation in which one crisis comes after another for a prolonged period? Each crisis might be manageable, but the sheer volume of crises and their cumulative effect might push society to the breaking point. It may seem hyperbolic at first glance, but it’s not — it’s entirely plausible. Now, I’m not necessarily predicting that we’ll get a cascade of crises. But it’s possible, and you should be prepared just in case. That’s because it looks like 2024 might be a year in which the crises do cascade. And the crises will not be natural disasters (although that could happen) but more like social and political disasters. Here’s what might play out over the next 10 months and the reasons why: Much of what is to come is in response to the likely victory of Donald Trump in the race for the presidency. One cannot overstate the sheer fear of Trump by the globalists, Davos crowd, progressives, climate alarmists, DEI gurus and just about anyone else who can’t stand Trump. This fear often manifests itself in the form of Trump derangement syndrome (TDS), which is a genuine form of mental illness, not just a simple disagreement with Trump’s policies. And TDS is contagious. I’m not saying this to defend Trump (he has many flaws); I’m just pointing out the degree to which his critics hate and fear him. Confidence in the Rule of Law Is Gone The key question is: "What would the anti-Trumpers in government and the media do to stop Trump?" The answer is: “Whatever it takes.” Trump is not just an opposing politician; he's an existential threat to a 50-year-old globalist, anti-nationalist agenda. To keep him out of the White House, his political opponents have resorted to lawfare: the use of law to handicap a political opponent. We see this in the New York civil case in which a judge has now ruled that Trump and his companies must pay a $355 million fine (in addition to what may amount to $100 million in interest payments) for a non-crime. Trump simply did not commit fraud under any plausible interpretation of the law. No one even claims to have been defrauded. There’s also the defamation verdict awarding $83 million to a plaintiff that is out of all proportion to any actual damages, and the classified documents case in Florida. We also see elite attacks in the Jan. 6 case in Washington, D.C., the notorious Stormy Daniels hush money case brought by the biased and incompetent N.Y. District Attorney Alvin Bragg, the mass RICO case brought by the unethical and compromised Fulton County, Georgia, district attorney, Fani Willis — and finally the efforts to kick Trump’s name off the ballot using Section 3 of the 14th Amendment by claiming Trump is an “insurrectionist.” [External Advertisement] [The World’s First “$20 Trillion Drug"?]( One small biotech holds the key to a revolution in treating Alzheimer's disease. Jeff Bezos, Goldman Sachs & Big Pharma giants have invested billions into this unknown biotech. Our research proves that anyone who gets in today could see 113,000% gains! [Get the name of the stock here ]( [Click Here To Learn More]( Dubious at Best All of these cases are legally dubious at best. While I’m not a constitutional scholar, I am an attorney with decades of legal experience. And based on that experience, it’s clear that these cases are politically motivated. But in their zeal to get Trump, prosecutors and judges may have overreached. The Washington, D.C., case may be dismissed because the U.S. special prosecutor was not properly appointed under Department of Justice rules. There are also presidential immunity issues pending before the Supreme Court. Meanwhile, the Georgia case may also be dismissed because of unethical conduct and lack of disclosure by Fani Willis. Damages in the defamation case may be greatly reduced on appeal. Likewise, the Stormy Daniels case is on thin legal ice. And the Supreme Court is likely to rule any day that the 14th Amendment insurrection clause does not apply to Trump’s actions. Meanwhile, it’s difficult to see how the Florida classified documents case can result in a conviction after the kid gloves treatment given to Joe Biden in his classified documents case. And Trump can appeal the New York civil ruling, although it’ll be more difficult than a standard appeal because under the statute, Trump would have to turn over the entire $450 million while the appeal is decided. Trump’s rich, but that’s a lot of money even for a guy like Trump to round up. New York Gov. Kathy Hochul has assured nervous New York business owners that they have nothing to fear from this ruling, urging them to remain in New York. But that just proves that this case was about nothing more than taking down Trump. The Damage Is Done The fact that Trump may survive this legal onslaught (or issue a self-pardon upon election) does not alter the damage done. Confidence in the rule of law has been badly eroded. The biased and unbalanced application of the law to Trump has increased the already extreme polarization that exists in the U.S. This polarization is the foundation for the other social dysfunctions to follow. Here's a summary of the social and infrastructure crises that may follow on the political crisis described above: - Energy shortages and blackouts due to Green New Scam policies and the simple physics of trying to maintain a baseline load in the power grid using intermittent sources such as windmills and solar - A new pandemic promoted to impose unnecessary lockdowns that act as cover for ballot-box stuffing, extensive ballot harvesting, drop-box abuse and other scams intended to rig the vote for Biden [Your Credit Card: Declined?]( [Click here for more...]( Take a moment and picture this scenario: The line at the gas pump is getting longer as you insert your credit card for the second time. You decide to head in and ask the cashier what’s going on. There’s a long line inside. The woman in front of you looks frustrated. Everyone does. “There’s nothing I can do. You’re declined,” the cashier says to the man at the front of the line. It’s not just you. Everyone is declined. Something doesn’t seem right. A sinking feeling sets in as you realize something has gone terribly wrong. [Click here now for an urgent new prediction from a former advisor to the CIA and Pentagon.]( [Click Here To Learn More]( - A stock market meltdown as Congress tries to reduce out-of-control fiscal deficits and markets realize that excessive government spending was the only thing keeping the economy going in the first place - The rollout of central bank digital currencies (CBDCs) that will be used as a surveillance tool to identify those whom Biden calls “enemies of the people.” The targets will be Trump supporters and MAGA Republicans - Chinese hacking of critical infrastructure systems including air traffic control, banking and capital markets. - As these crises cascade, don’t be surprised if the White House imposes martial law and even takes steps to suspend the elections. Blood in the Streets One event which I find highly likely and a possible cover for some of these other events is blood in the streets of Chicago from Aug. 19–21, 2024. That's the time and place of the Democratic National Convention to nominate their candidate for president. The convention will likely come under attack from Antifa, the pro-Palestinians, climate activists and others. The new mayor of Chicago, Brandon Johnson, is even more radical than Lori Lightfoot. He will let the demonstrators do what they want and tell the police to stand down. The riots, looting, arson and violence will take on a life of their own. A good example of this is found in Norman Mailer's book Miami and the Siege of Chicago (1968), which covered the riots at the Democratic convention (also in Chicago) in 1968 at the height of the war in Vietnam. The difference between then and now is that in 1968, Chicago Mayor Richard Daley let the police pound the protestors into submission. This time, Brandon Johnson will let the protestors tear up the city. In any case, events of this type can be a catalyst for extreme remedies coming from the White House that could then be used to manipulate election results. I realize that may sound paranoid or conspiratorial. But you have to realize the lengths to which these political operators will go to stop Trump. Once you do, you’ll see it’s not nearly as far-fetched. What Can You Do to Survive? The events I’m talking about would likely result in market turmoil. That’s why it’s prudent to increase your cash allocation, decrease your stock allocation (especially tech stocks) and have gold bullion coins and at least one monster box (containing 500 one-ounce American Silver Eagles available from the U.S. Mint). Land and fine art are other valuable assets. Basically, you want assets that are not vulnerable to bank failure and are not in digital form because of hacking and power grid failures. If you are in stocks, I would allocate funds to major oil companies, major defense contractors, mining companies and agriculture firms such as Cargill and ADM. Treasury notes are another good play because interest rates should plunge in any recession emerging from the chaos. Again, I’m not making a hard prediction that these events will occur. I’m simply stating that there’s a genuine possibility that they may occur, and that you should be prepared. And as they say, an ounce of prevention is worth a pound of cure. Regards, [Jim Rickards] Jim Rickards for The Daily Reckoning P.S. The Fed has signaled they are planning to cut interest rates in 2024. Not in March, but probably in spring or maybe even summer. Wall Street can’t wait. But I advise you to be EXTREMELY cautious. [That’s because nearly 75% of the market’s recent buying spree is based on deception.]( And very soon, this artificial surge — led by Wall Street — could change directions. It has to do with what I call “[Binary Feedback.]( And it could even lead to a “Black Monday”-style sell-off. But this type of market also provides [incredible opportunities]( for those who know what to do. That’s why I strongly suggest that you watch this video before you buy — or sell — ANY stocks. [Go here now for details.]( Thank you for reading The Daily Reckoning! We greatly value your questions and comments. Please send all feedback to [feedback@dailyreckoning.com.](mailto:feedback@dailyreckoning.com) [Brian Maher] [James G. Rickards]( is the editor of Strategic Intelligence. He is an American lawyer, economist, and investment banker with 35 years of experience working in capital markets on Wall Street. He is the author of The New York Times bestsellers Currency Wars and The Death of Money. [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2024 Paradigm Press, LLC. 1001 Cathedral Street, Baltimore, MD 21201. 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