Latest news with #Rickards
Sky News AU
3 days ago
- Business
- Sky News AU
‘There is no alternative': US dollar in decline as influence in question
Economist and author James Rickards discusses whether the US dollar is losing its global influence following its decline in recent months, asserting the US Treasury remains secure as the leading global reserve. 'The dollar has gone down in value, but it was from a pretty high level,' Mr Rickards told Sky News host Ed Boyd. 'There is no alternative, the other biggest bond markets in the world are Japanese government bonds and Italian government bonds – so if you don't like US Treasury, do you like JGBs better? … the answer is no. 'Even in a world where the dollar is going down in terms of exchange rates, the US Treasury, the Treasury Securities Market is not threatened as the leading global reserve asset.'
Yahoo
26-05-2025
- Business
- Yahoo
Is The IRS Phase-Out Happening Now?
Former White House Insider says new U.S. model could replace income tax with tariffs and buried national wealth BALTIMORE, May 26, 2025 (GLOBE NEWSWIRE) -- It's one of the most ambitious financial shifts in U.S. history—and according to former White House and Pentagon Insider Jim Rickards, it's already in motion behind the scenes. Rickards says Washington insiders are preparing for a future without the IRS. And instead of raising new taxes or printing money, the government would fund itself using tariffs on foreign imports. Middle-Class Relief, Without Raising Taxes The foundation of the plan calls for eliminating income taxes for Americans earning under $150,000, including taxes on wages, tips, small business income, and Social Security benefits. In its place: tariff-based revenue on imported goods. 'Presidents' goal is very simple,' said Commerce Secretary Howard Lutnick. 'To abolish the Internal Revenue Service and let all the outsiders pay.' But Rickards says we could also replace those taxes with strategic royalties generated from U.S. resource development. Chevron Is Dead—And the Minerals Are in Play Rickards believes the 2024 Supreme Court decision overturning the Chevron Doctrine was the true trigger point. For decades, this doctrine empowered federal agencies to block access to resource-rich U.S. lands—keeping the nation from tapping into its most valuable strategic assets. That's no longer the case. 'These are hard assets, not abstract numbers,' Rickards explains. 'We're talking about copper, lithium, uranium, and rare earths—enough to fund a generation of American growth without taxing labor.' A $150 Trillion Engine, Now Unlocked According to Rickards, estimates show: $3.1 trillion in Nome, Alaska $7.35 trillion in Midland, Texas $516 billion near California's Salton Sea In a new research briefing titled The American Birthright, Rickards connects the Supreme Court ruling, the income tax exit plan, and how America could build a sovereign wealth model—similar to Norway's or Saudi Arabia's—on top of these untapped assets. About Jim Rickards Jim Rickards is a former advisor to the CIA, Pentagon, and U.S. Treasury, and has counseled presidents on financial warfare, systemic risk, and global economic restructuring. He now leads Strategic Intelligence, a monthly research advisory focused on financial defense and geopolitical forecasting. Media Contact:Derek WarrenPublic Relations ManagerParadigm Press GroupEmail: dwarren@
Yahoo
26-05-2025
- Business
- Yahoo
Middle Class May Finally Catch a Break as U.S. Eyes Major Tax Overhaul: Former White House Insider
New strategy would eliminate income tax for most workers and replace it with tariffs BALTIMORE, May 25, 2025 (GLOBE NEWSWIRE) -- For over a century, American workers have shouldered the tax burden that fuels the federal government. But that may soon change. According to Jim Rickards—a former White House advisor—Washington insiders are working on a plan that would eliminate income taxes for the middle class and redirect the country's funding model back to tariffs. No More Tax on Wages, Tips, or Social Security? The proposal, Rickards explains, would zero out federal income taxes for Americans earning under $150,000 per year. Instead of taxing citizens directly, the government would fund itself through tariffs on foreign goods. Commerce Secretary Howard Lutnick confirmed the plan's intent: 'Presidents' goal is very simple. To abolish the Internal Revenue Service and let all the outsiders pay.' The Return of Tariff-Funded Government This would not be the first time America has run on tariffs. Before the IRS was created in 1913, the federal government was primarily funded by taxing foreign imports—not citizen wages. Rickards says the difference today is scale. In addition to tariffs, the U.S. could now tap into a mineral reserve worth $150 trillion, including copper, lithium, uranium, and rare earths—all critical to defense, energy, and AI systems. 'These minerals aren't theoretical,' Rickards says. 'They're documented, mapped, and ready. The only thing that stopped us from accessing them was a 40-year legal blockade—which is now gone.' The 2024 Supreme Court reversal of the Chevron Doctrine eliminated the power of federal agencies to stop mining and drilling operations across public lands—clearing the path for what Rickards calls a 'national inheritance' that was sealed off for decades. About Jim Rickards Jim Rickards is a former advisor to the CIA, U.S. Treasury, and Federal Reserve. He served as legal counsel during the LTCM bailout and has advised multiple presidential administrations. He now leads Strategic Intelligence, a research publication focused on financial disruption and national security. Media Contact:Derek WarrenPublic Relations ManagerParadigm Press GroupEmail: dwarren@ in to access your portfolio
Yahoo
24-05-2025
- Business
- Yahoo
Is America's Comeback Already Underway?
Former CIA advisor says $150 trillion in untapped national wealth could quietly restore the U.S. economy—starting now WASHINGTON, May 24, 2025 (GLOBE NEWSWIRE) -- The headlines paint a bleak picture: national debt, economic uncertainty, and a shrinking middle class. But one former government advisor says the real story is far more optimistic—and virtually no one is reporting on it. 'America is anything BUT broke,' says Jim Rickards, a former advisor to the CIA, White House, and U.S. Treasury. 'There's a side to this story you've never heard before.' According to Rickards, the United States has quietly amassed a $150 trillion 'national inheritance' that has remained sealed off from the public for more than a century—but is now being unlocked due to a recent legal shift. A Comeback Built on What's Already Here This wealth isn't based on speculation or foreign aid—it's rooted in the vast reserves of natural resources and minerals located beneath federal lands across the country. 'It's enough to pay off the national debt, four times over,' Rickards says. 'Enough to make every single family in America millionaires. 'This 'trust fund' is not a pile of money to be equally distributed… It's not part of a government program or handout,' Rickards explains. 'And unlike the Social Security trust fund, which has been raided… this national trust has remained untouched for over 160 years.' Rickards says a forgotten mining provision in Title 30 of the U.S. Code helped establish this 'trust,' and it has steadily grown in value to become one of the greatest hidden assets in the nation's history. The Chevron Doctrine: An Obstacle Removed For decades, access to these resources was blocked by federal red tape and environmental restrictions, enforced through the Chevron Doctrine, a legal framework that gave agencies broad regulatory power. 'They tied us down with reams of regulation,' Rickards explains. 'And gave agencies like the EPA 'kill shot' power to stop any mining project they wanted.' 'We have massive mineral wealth here. It's not hard to extract. We know where it is. And how to get it. But the government got in the way.' In 2024, the Supreme Court—under a Trump-appointed majority—overturned the Chevron Doctrine, transferring control from unelected regulators back to the courts. 'For the first time in half a century—we can go get them,' Rickards says. 'This is the opportunity of a lifetime.' The Revival of the American System Rickards believes this moment could trigger more than just economic growth—it could represent a broader return to what he calls the 'American System.' 'In addition to unlocking our vast $150 trillion mineral endowment, I believe Trump is going to reset the clock on our republic,' Rickards says. 'He's returning us to something that worked for centuries.' That system, according to Rickards, is built on real production, natural resources, and self-reliance—values that he believes are making a comeback. 'We're finally unlocking our American Birthright,' he adds. 'Most people will be shocked by what's coming next.' About Jim Rickards Jim Rickards is an economist, lawyer, and former advisor to the CIA, Pentagon, and U.S. Treasury. He served as a principal negotiator during the Iran Hostage Crisis, co-developed the 1970s Petrodollar Accord, and has briefed senior U.S. officials on national security and economic policy. He is the editor of Strategic Intelligence, a research publication exploring critical developments that impact the U.S. economy, governance, and global leadership. Media Contact:Derek WarrenPublic Relations ManagerParadigm Press GroupEmail: dwarren@
Yahoo
24-05-2025
- Business
- Yahoo
The Plan to Dismantle the IRS Is Already in Motion, Says Former CIA Insider
New federal strategy could shift tax burden away from citizens—and tap into buried national wealth BALTIMORE, May 24, 2025 (GLOBE NEWSWIRE) -- After more than a century of collecting wages from American workers, the Internal Revenue Service may soon be facing extinction. That's the claim from Jim Rickards, a former CIA advisor and legal strategist to the White House and U.S. Treasury. According to Rickards, the plan centers around a three-part strategy: Eliminate income taxes for the middle class Redirect revenue through tariffs on foreign imports Monetize the $150 trillion worth of mineral wealth locked beneath U.S. soil America's Middle Class May Finally Be Off the Hook The proposal—now being shaped by Trump's economic team—would end federal taxes on wages, tips, and Social Security for Americans earning under $150,000 per year. And according to Howard Lutnick, Trump's Commerce Secretary, the goal couldn't be clearer: 'Presidents' goal is very simple. To abolish the Internal Revenue Service and let all the outsiders pay.' Instead of taxing everyday Americans, the government would collect from international trade. But what no one has said yet is the potential Rickards sees in resource royalties—particularly from vast, untouched deposits on federal land. The Untapped Treasury Beneath Our Feet Rickards ties the feasibility of the plan to a recent legal shift: the 2024 Supreme Court decision that overturned the Chevron Doctrine. That ruling stripped federal agencies of their ability to block resource development—unlocking what Rickards calls America's 'forgotten reserve.' 'This is real, physical wealth,' he explains. 'Copper, lithium, uranium—enough to fuel A.I., energy, defense, and wipe out the national deficit.' Estimates value these assets at $150 trillion, with documented concentrations including: $3.1 trillion in Nome, Alaska $7.35 trillion in Midland, Texas $516 billion near the Salton Sea Rickards outlines the full implications in a new briefing The American Birthright, which connects the Supreme Court ruling, the mineral reserve, and a plan to replace income tax with a sovereign wealth strategy. About Jim Rickards Jim Rickards is a former legal and economic advisor to the CIA, Pentagon, and U.S. Treasury. He now serves as editor of Strategic Intelligence, a financial and geopolitical research service focused on American economic resilience and wealth protection. Media Contact:Derek WarrenPublic Relations ManagerParadigm Press GroupEmail: dwarren@
