The Big Drop: How to Survive the Coming Financial Meltdown and Protect Your Wealth

Introduction

In his book, The Big Drop, James Rickards warns of an impending financial meltdown that will be far worse than the Great Recession of 2008. He argues that the current global economic system is unsustainable and that a collapse is inevitable.

Rickards identifies a number of factors that are contributing to the coming crisis, including:

• Excessive debt: The global debt burden has reached unsustainable levels, and it is only a matter of time before it triggers a financial crisis.
• Currency wars: The world's major economies are engaged in a currency war, which is driving down the value of currencies and making it more difficult for countries to repay their debts.
• Trade wars: The United States and China are engaged in a trade war, which is disrupting global supply chains and raising prices.
• Political instability: The world is facing a number of political crises, including the rise of populism and the threat of terrorism.

Rickards believes that these factors will combine to create a perfect storm that will lead to a global financial meltdown. He argues that the only way to protect your wealth is to invest in safe-haven assets, such as gold and silver.

The Coming Financial Meltdown

Rickards argues that the coming financial meltdown will be far worse than the Great Recession of 2008. He points to a number of factors that make this crisis different, including:

• The global debt burden is much higher today than it was in 2008. This means that there is less room for error and that a smaller shock could trigger a crisis.
• The financial system is more interconnected today than it was in 2008. This means that a crisis in one country can quickly spread to other countries.
• The world is facing a number of political crises, including the rise of populism and the threat of terrorism. These crises could lead to a loss of confidence in the global financial system.

Rickards believes that these factors will combine to create a perfect storm that will lead to a global financial meltdown. He argues that the only way to protect your wealth is to invest in safe-haven assets, such as gold and silver.

How to Protect Your Wealth

Rickards offers a number of tips for how to protect your wealth from the coming financial meltdown. These tips include:

• Invest in safe-haven assets, such as gold and silver.
• Reduce your debt.
• Build up your cash reserves.
• Diversify your investments.
• Be prepared for a long and difficult recession.

Rickards believes that by following these tips, you can increase your chances of surviving the coming financial meltdown and protecting your wealth.

Conclusion

The Big Drop is a must-read for anyone who is concerned about the future of the global economy. Rickards provides a clear and concise explanation of the factors that are contributing to the coming financial meltdown, and he offers a number of practical tips for how to protect your wealth. If you are not prepared for the coming crisis, you could lose everything.