A catastrophic deleveraging where debt becomes impossible to service, causing a systemic "freeze" in the financial system.
Rickards emphasizes that "money" (transitory and ephemeral) is increasingly detached from "wealth" (permanent and tangible). He advises moving assets into "hard" stores of value: The Death of Money: The Coming Collapse of ... - Amazon.com The Death of Money: The Coming Collapse of the ...
The World Economic Forum ranks this as a top risk for 2026, noting that "multilateralism is in retreat" as powers like China and Russia seek alternatives to U.S. monetary hegemony. A catastrophic deleveraging where debt becomes impossible to