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Epoch Times
15-05-2025
- Business
- Epoch Times
1777 HMS Phoenix: Paper Money as a Weapon of War
Commentary Ships of Britain's massive Royal Navy, the largest in the world, inflicted great damage on American ports, property, and vessels during the years of the Revolution (1775–1783). Perhaps none of those ships wreaked more havoc than HMS Phoenix , and it accomplished its devious work not with a cannon but with a printing press. The bodies from the battle on Boston's Bunker Hill were buried just days earlier when the Second Continental Congress authorized the printing of paper money (see ' 'Efforts in war or peacetime to undermine the economies, societies, and governments of adversaries by falsifying their money,' wrote John Cooley in his 2008 book 'Currency Wars,' 'have proliferated since ancient times.' In the 1770s, the British adopted the ruination of the enemy's money as a potent instrument of war. HMS Phoenix was a frigate, a fifth-rate vessel and among the smallest in London's fleet. Built in 1759, she carried a mere 44 guns. As part of a flotilla, she bombarded New York City in mid-July 1776 before anchoring off Staten Island. By January 1776, Phoenix had begun counterfeiting continental dollars (mostly 30-dollar bills) and smuggling them onshore to help accelerate the devaluing of the new paper money. Think of it as a miniature Federal Reserve on the sea. Related Stories 5/2/2025 5/1/2025 Benjamin Franklin later wrote that the British plan for the American paper currency was 'to deprive us of its use by depreciating it; and the most effectual means they could contrive was to counterfeit it. The artists they employed performed so well, that immense quantities of these counterfeits, which issued from the British government in New York, were circulated among the inhabitants of all the States, before the fraud was detected. This operated considerably in depreciating the whole mass, first, by the vast additional quantity, and next by the uncertainty in distinguishing the true from the false; and the depreciation was a loss to all and the ruin of many.' In an article titled ' ceteris paribus , the less any one unit of it will be worth. Newman explains: 'During the American Revolution the method devised by the British was a powerful three-pronged attack. It consisted of (1) the preparation and distribution of actual counterfeits of the American paper money; (2) the encouragement of 'Tories' and cheats to counterfeit and pass counterfeits independently; and (3) the issuance of propaganda as to the excellent quality and enormous quantity of counterfeits in circulation. The degree of effectiveness of these activities cannot be measured other than by recognizing that American paper money depreciated most when British counterfeiting activity was at its height.' For a year and a half, Phoenix belched out huge quantities of paper money. American forces frequently captured individuals involved in distributing the British counterfeits, especially in the New York area. The British conducted similar inflationary activities from printing presses on land as well, and they counterfeited both continental dollars and local paper money issued by states. 'The speed with which prices rose and paper money became unacceptable,' Newman writes, 'was materially stimulated by British counterfeiting activity.' Price inflation, thanks to the printing presses of both the British and the Americans, ran as high as 50 percent per month by the early 1780s. HMS Phoenix departed New York in mid-1777, then sunk or captured a few French and American ships along the Atlantic seaboard before heading to the Caribbean. In October 1780, she sank in a hurricane that disabled the British fleet in the West Indies—although most of the men on board were rescued. We'll never know for sure, but it seems quite plausible that the greatest harm the Phoenix inflicted on America was accomplished with paper, not gunpowder. From the Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times.
Yahoo
14-05-2025
- Business
- Yahoo
Relief at the Pump? Former Pentagon Insider Says a $150 Trillion U.S. Asset Could Be the Key to Ending Energy Dependence for Good
Thanks to a Supreme Court Shift and Trump's Bold Moves, America May Finally Tap Its Own Strategic Reserve — and Everyday Families Could Feel It First WASHINGTON, May 14, 2025 (GLOBE NEWSWIRE) -- For millions of Americans, the rising cost of gas has become more than an inconvenience — it's a daily pressure that reshapes budgets and limits freedom. But according to former CIA advisor Jim Rickards, that may be about to change. 'We're looking at the possibility of $2 gas… maybe even $1 again,' Rickards says. 'And this time, it's not a campaign promise — it's backed by real assets and real law.' That real asset? A $150 trillion trove of natural wealth — copper, lithium, and rare earths — buried beneath federal land and largely untouched… until now. THE LEGAL BLOCKADE HAS BEEN BROKEN Thanks to the Supreme Court's 2024 repeal of the Chevron Doctrine, federal agencies no longer hold unchecked power over land-use and resource access decisions. 'For the first time in decades, the courts — not the bureaucracy — will decide how this land can be used,' Rickards explains. 'And that opens up options we've never had access to.' Coupled with a new series of executive orders under President Trump, Rickards says this ruling could unlock one of the greatest missed opportunities in U.S. history. THE PROMISE OF ENERGY INDEPENDENCE — FULFILLED The resource in question has been federally documented, mapped, and valued — with total strategic potential estimated as high as $150 trillion. 'This isn't speculation,' Rickards says. 'It's a documented national asset — and it could become the single most important tool for rebuilding the American middle class.' By tapping into these reserves, Rickards says the U.S. could slash energy costs, reduce reliance on hostile foreign suppliers, and restore economic power to American families. A NEW ERA OF CONTROL — FOR THE PEOPLE Rickards has released a private briefing detailing how this little-known asset ties into Trump's broader economic agenda — and what could come next for fuel prices, national power, and U.S. consumers. 'We're not waiting on a miracle,' he says. 'We're finally using what's been ours all along.' About Jim Rickards Jim Rickards is a lawyer, economist, and former advisor to the CIA, Pentagon, and U.S. Treasury. He has spent four decades decoding the hidden levers of global finance and U.S. strategy. His bestselling books include Currency Wars, The Road to Ruin, and The Death of Money. Media Contact:Derek WarrenPublic Relations ManagerParadigm Press GroupEmail: dwarren@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
As Trump Eyes Energy Relief, Jim Rickards Says the Key Could Be a $150 Trillion U.S. Resource Hidden in Plain Sight
A Supreme Court Ruling Has Changed the Rules—and the Energy Equation Could Shift Fast WASHINGTON, May 13, 2025 (GLOBE NEWSWIRE) -- With inflation lingering and gas prices still straining household budgets, a bold energy shift may be underway. And according to former CIA advisor Jim Rickards, it's not coming from OPEC, pipelines, or subsidies. 'We could see gas prices fall to $2 a gallon—maybe even less,' Rickards says. 'And the power to make that happen isn't in the hands of oil companies anymore.' Instead, he points to a $150 trillion domestic resource buried under U.S. soil—an energy-rich 'inheritance' the federal government has held for over a century, but never fully used. THE COURT CASE THAT CHANGED THE GAME The breakthrough came with the 2024 Supreme Court decision to overturn the Chevron Doctrine—a decades-old legal precedent that had allowed federal agencies to broadly interpret and enforce regulations. 'Now, courts—not unelected bureaucrats—are driving the conversation,' Rickards says. 'That opens the door for a resource strategy that puts America first.' THE REAL POWER: ENERGY SECURITY, NOT DEPENDENCY What lies under U.S. federal lands could include trillions in raw materials: copper, lithium, silver, and rare earth elements. These are the same resources that power our grids, feed our AI, and make energy independence possible. 'We've fought to secure foreign oil,' Rickards says. 'Meanwhile, we've ignored what's already ours. That's finally starting to change.' OIL COMPANIES MAY NOT LIKE IT — BUT VOTERS MIGHT With executive orders from Trump already in motion, Rickards believes this legal shift could be used to fast-track access to lower-cost energy—without relying on global suppliers or Big Oil. 'It's not about breaking the system,' he says. 'It's about remembering we don't need to be held hostage by it.' A full interview revealing how this shift could work—and what comes next—is now available to the public at no cost. About Jim Rickards Jim Rickards is a lawyer, economist, and former advisor to the CIA, Pentagon, and U.S. Treasury. He's widely recognized as an expert in financial warfare, energy economics, and national security strategy. His bestselling books include The Death of Money, Aftermath, and Currency Wars. Media Contact:Derek WarrenPublic Relations ManagerParadigm Press GroupEmail: dwarren@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-05-2025
- Business
- Yahoo
Gas Prices Are Still Too High—But a $150 Trillion Asset Could Finally Tip the Balance, Says Jim Rickards
Former CIA Advisor Says Supreme Court Ruling and Trump Executive Orders Could Unlock America's Long-Forgotten Economic Advantage WASHINGTON, May 12, 2025 (GLOBE NEWSWIRE) -- Gas may be down from its peak, but for working Americans, it still hurts to fill the tank. SUV owners. Long-distance commuters. Families scraping by. Even at $3 a gallon, the pain at the pump is real. But help could be on the horizon. 'We could see gas prices fall to $2… maybe even $1 — and not through subsidies or gimmicks,' says Jim Rickards, former CIA advisor and White House consultant. Instead, Rickards says, this new push could come from a $150 trillion asset buried beneath U.S. soil — one that, until now, Washington never touched. A LEGAL BREAKTHROUGH OPENS THE DOOR At the center of this shift is the 2024 Supreme Court decision that dismantled the Chevron Doctrine — a ruling that clipped the wings of federal agencies and restored oversight to the courts. Rickards believes this legal realignment, paired with newly signed executive orders under President Trump, is creating a rare opportunity to unlock vast domestic resources — including rare earth elements and energy-critical reserves. 'This is a realignment of power,' he says. 'It's no longer up to unelected bureaucrats to block access to what could reshape our economy.' THE POWER OF WHAT'S UNDER OUR FEET The asset in question includes a buried cache of strategic minerals and fuels, much of it located beneath federal lands in the western U.S. Market estimates place the long-term value of the reserve as high as $150 trillion — enough to radically shift the calculus of U.S. trade, energy, and manufacturing. 'It's not about flipping a switch overnight,' Rickards notes. 'But it is about recognizing what we already own — and why foreign competitors are terrified we might use it.' A MIDDLE-CLASS WIN — NOT A WALL STREET MOVE Unlike complex tax policies or inflationary stimulus packages, Rickards says this strategy has direct implications for everyday Americans — potentially lowering costs at the pump, boosting domestic jobs, and reducing reliance on unstable international supply chains. 'This isn't theoretical,' he says. 'It's material. It's measurable. And for the first time in decades, we may have the legal and political momentum to act.' A private briefing detailing how this resource ties into the current administration's economic strategy is now available to the public. About Jim Rickards Jim Rickards is a lawyer, economist, and national security strategist who has advised the CIA, Pentagon, and U.S. Treasury. With over four decades of experience analyzing crisis systems and financial warfare, he's the author of six bestselling books, including The Death of Money and Currency Wars. Media Contact:Derek WarrenPublic Relations ManagerParadigm Press GroupEmail: dwarren@
Yahoo
20-04-2025
- Business
- Yahoo
Built for a Crisis: Jim Rickards Reveals the Hidden National Resource Created for America's Worst-Case Scenario
A Long-Forgotten Federal Asset May Finally Be Called Into Action WASHINGTON, April 20, 2025 (GLOBE NEWSWIRE) -- According to former CIA advisor and national security strategist Jim Rickards, a powerful resource built into the fabric of U.S. law was never designed for ordinary times. It was created for a moment like this. 'This wasn't some fund they dipped into,' Rickards says. 'This was always a break-glass-in-case-of-emergency kind of asset. And now the glass is breaking.' He's referring to a rarely discussed reserve embedded in federal law since the late 1800s—one that governs vast quantities of critical materials lying dormant beneath U.S. public lands. According to Rickards, this resource was designed as a contingency mechanism for when the country needed to reset, rebuild, or reassert control. A Legal Time Capsule, Now Reopened Created under Title 30 of the U.S. Code, the provision protected a massive reserve of mineral-rich land—set aside during Reconstruction and shielded for generations under federal jurisdiction. But until recently, access to those materials was functionally blocked. 'The government didn't spend it. They didn't exploit it. They just locked it away,' Rickards explains. That changed with a Supreme Court ruling in 2024. 'Trump's Supreme Court overturned the Chevron Doctrine,' he says. 'It essentially gave so-called government experts 'kill shot' power. But now—for the first time in half a century—we can go get [these resources]'! Why This Resource Is Strategic Rickards says the materials hidden beneath this reserve aren't theoretical or symbolic—they're the backbone of 21st-century power. Lithium. Copper. Silver. Rare earths. 'These aren't legacy assets. These are future assets,' he says. 'Everything from defense to AI to grid stability depends on them.' While foreign adversaries race to secure supply chains abroad, Rickards believes the U.S. has been sitting on its own solution—just never empowered to use it. The Emergency Has Arrived Rickards believes the economic, energy, and geopolitical stress America faces today represents the exact type of crisis this asset was designed for. 'The system that was built to protect the country in moments like this... is finally activating.' He describes this moment not as a new beginning, but as a return to the original safeguards written into U.S. law—now awakened by necessity. About Jim Rickards Jim Rickards is a lawyer, economist, and bestselling author who has advised the CIA, Pentagon, and U.S. Treasury. Over a 40-year career, he has led national-level economic war games and advised U.S. officials during periods of major financial and geopolitical instability. His books include Currency Wars, The Death of Money, and Aftermath. Media Contact:Derek WarrenPublic Relations ManagerParadigm Press GroupEmail: dwarren@ in to access your portfolio
