Sobering - July 29th announcement set to crush AI stocks?

When former Pentagon advisor Jim Rickard’s released this AI Black Paper, he warned that the brewing crisis in AI would cause:

“A multi-trillion dollar stock market drawdown that will catch millions of Americans off guard….torching their stock portfolios, retirement accounts, and even personal savings faster than any crisis we’ve seen before.”


Well, now with problems at Nvidia and ChatGPT, it looks like he may have undersold the case.

Because according to Rickards, thanks to an announcement set to take place 24 hours from now, the entire “AI illusion” that’s been propping up the market since the launch of ChatGPT is about to be incinerated virtually overnight. And it could lead to one of the biggest “Dow Drops” in history.

According to Rickards, a market crash of 30%, 40%, even 80% or more is not out of the question.

Now, it seems like prominent voices on Wall Street are beginning to agree:

• Research firm Macro Strategy Partnership is warning that “The AI Bubble is now 17 times the size of the dotcom bubble and 4 times the size of subprime.”
•  Chair of Investment Strategy at JP Morgan: “Three-quarters of gains in the S&P 500 since the launch of ChatGPT came from  AI-related stocks.”
• Oliver Wyman, one of the highest rated financial consulting firms in the country issued an even more dire warning, saying: “an AI-led market collapse would wipe out approximately $33 trillion of value — more than US GDP.”

 
But Jim Rickards has singled out a date – July 29th.

It’s important to note that he’s been right on this kind of thing before.

In fact, in 2006, a full two years before the subprime meltdown began, he sent a warning to intelligence officials in Washington about a looming financial crisis.

His full thesis was so in depth that the CIA circulated it among its senior staff, and it appeared in the CIA’s official journal, Studies in Intelligence.

That material remains classified to this day.

Then in 2007, he even supplied them with a plan to avert the crisis called “Proposal to Obtain and Manage Information in Response to a Capital Markets Crisis” but Washington still failed to heed his warning.

Three weeks later Lehman Brothers collapsed, leading to one of the biggest financial crises of our lifetimes.

The big question is, will he be right again?

There seems to be plenty of evidence to suggest, yes. That’s why Rickards is urging every American to take these 3 steps now to prepare. Including a way you can take home gains of 600% over the next 12 months during the coming crash.

But you don’t have long. Because once this crisis hits, it will already be too late.

[CLICK HERE: To View His AI Black Paper and See the 3 Steps You Need to Take to Prepare]