This week, I’m kicking off my “launch party” for my new book, The Road to Ruin: The Global Elites’ Secret Plan for the Next Financial Crisis. It will be released on Tuesday on Amazon and in bookstores. When it does, it will retail for as much as $23. But for a limited time, we’re sending free hard copies to Daily Reckoning readers. (Click here to learn how to claim yours.)
I use the term “global elites” all the time in a very specific way. It is not meant to be vague as if we were discussing the Illuminati or the CIA’s clandestine service. I have definite individuals in mind who are quite visible in their organizations and quite public about their intentions for the global monetary system.
A short list would include:
Christine Lagarde, managing director of the International Monetary Fund (IMF)
Mark Carney, governor of the Bank of England
Raghuram G. Rajan, vice chairman of the Bank for International Settlements and governor of the Reserve Bank of India
Haruhiko Kuroda, governor of the Bank of Japan
William C. Dudley, president of the Federal Reserve Bank of New York
Agustin Carstens, governor of the Bank of Mexico
Janet Yellen, chairman of the Board of the Federal Reserve System
Mario Draghi, president of the European Central Bank
Zhu Min, deputy managing director of the IMF
Zhou Xiaochuan, governor of the People’s Bank of China
Robert E. Rubin, chairman of the Council on Foreign Relations.
This A-list of central bankers is just the tip of the iceberg. To be comprehensive, one would include former central bankers, such as Ben Bernanke, and the many deputies and vice chairs of the listed organizations, such as David Lipton at the IMF.
There are many more names we could mention, but the point is that these are real people with real day jobs. They are not hiding under a rock. They’re hiding in plain sight.
They give speeches, hold press conferences, write books and Op-Eds and publish technical academic papers on a regular basis. The central banks and institutions they work for all have websites with huge archives of documents and research that advance the global elite cause. There’s no shortage of technical raw material from which we can discern what the elites are up to.
It’s also critical to understand the revolving door nature of how the elites operate. Academics such as Larry Summers were formerly policymakers (he was secretary of the Treasury). Current think tank scholars such as Anatole Kaletsky were former journalists (he wrote for the Financial Times and The Economist).
We ask where they’ve been and where they’re going next in some future political administration.
When we study the work of the power elite, we don’t stop at their current positions. We ask where they’ve been and where they’re going next in some future political administration.
The elites have their regular hangouts where they can meet face to face and work out deals like the “Shanghai Accord” we described in the last issue of Strategic Intelligence.
These regular hangouts include the World Economic Forum in Davos, Switzerland, each January; the IMF Spring Meeting in Washington, D.C., at cherry blossom time; the Milken Institute in Beverly Hills, California; and the Federal Reserve monetary conference at Jackson Hole, Wyoming, each August; plus, a few other top-drawer conferences in highly desirable locations. The power elite certainly know how to treat themselves right, often at the expense of taxpayers.
If there is a chairman of the board of the global monetary elite, it’s Robert E. Rubin, former CEO of Goldman Sachs, former chairman of Citigroup, former U.S. Secretary of the Treasury and current chairman of the Council on Foreign Relations.
Rubin’s resumé speaks loudly enough, but his influence doesn’t stop there. Over the decades, Rubin has groomed a younger generation of protégés who now occupy front-row seats in the international monetary system.
These protégés include David Lipton at the IMF; Michael Froman, the U.S. trade representative (he negotiates multilateral trade treaties such as the Trans-Pacific Partnership, TPP, that enrich global corporations at the expense of everyday workers); and Lael Brainard, the new intellectual thought leader at the Federal Reserve. Rubin’s influence is everywhere, and he is still very active in his own right.
Excluding the retired and younger cohorts, it’s not an unmanageably large group. Even with a greatly expanded list, we would probably top out at about 200 names. The point is we know who they are, and we’re watching what they do.
As I explain on pp. 249-50, “The elite quest for power is not new, it is part of human nature. What is new is that means now exist to achieve the ends.”
I explain those means in my new book. Remember, it’s free.
One of our most important contributions at Strategic Intelligence is to speak the elites’ language. It’s one thing to find a policy speech by Christine Lagarde online. It’s another thing to understand the technical jargon she uses and, more importantly, to read between the lines and understand what’s actually intended regardless of any bland phrases.
My graduate degree in international economics (from the same school as Tim Geithner) and my two law degrees (one specializing in international taxation) give me the technical chops to understand the policy implications of the elite plan.
My 35-year career at Citibank, then Greenwich Capital (a Treasury securities primary dealer) and the infamous hedge fund Long Term Capital Management, among other positions, lets me look behind the curtain at the actual plumbing of the global financial system and understand how things work.
Below, I show you exactly how the next financial crisis will spread, borrowing from a fascinating piece of science fiction. Read on.
Jim Rickards for The Daily Reckoning
P.S. A drumbeat is sounding among the global elite. The signs of a worldwide financial meltdown are unmistakable. This time, the elite has an audacious plan to protect itself from the fallout: hoarding cash now, and locking down the global financial system when a crisis hits.
In my new book, The Road to Ruin, I expose their plans. And even more importantly, I show you how to guard your wealth as their plan unfolds.