A Pentagon and national security insider recently stepped forward with an urgent warning to the American public, especially those aged 55 and older.

This warning comes from an advisor on capital markets to the Office of the Secretary of Defense and the Office of the Director of National Intelligence, which oversees 16 U.S. intelligence agencies including the CIA, the NSA, and the FBI.

His name is Jim Rickards.

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• Rickards advised the government during the bailout of a major Wall Street hedge fund, Long Term Capital Management, in 1998 (Jim is credited by many news outlets with helping the U.S. financial system avoid a major collapse).

• After 9/11, Rickards was recruited by the CIA to investigate insider trading activity associated with the attacks. His work led to the detection of a major terrorist plot in London in 2006. That plot was thwarted, which saved thousands of lives.

• In 2009, he facilitated the Pentagon’s first-ever global financial war game, which simulated an orchestrated attack on the U.S. dollar—and even predicted major geopolitical maneuvers by China and Russia.

In short: If anyone has an inside track on the dollar and the fate of the U.S. economy, it’s Mr. Rickards…

Now he says:

“The time to act is now… A new crisis is a mathematical certainty, but I can take it further . . . what you don’t hear is this will be exponentially larger than any financial panic in the past… The next time, the Fed is going to be in trouble. They are already insolvent on a mark-to-market basis. Each bailout gets much bigger than the one before. The Fed has a 10-foot seawall, and they are going to get hit with a 50-foot tsunami.”

Rickards says that anyone who is dependent on a fixed income – like Social Security or a pension plan – or who owns any assets denominated in dollars – like a savings account or mutual fund – is especially at risk.

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But here’s the good news is…

No matter what happens in the world — through great disasters and extreme crisis — there are always people who not only survive… but thrive.

When you look at America’s hardest times — the Great Depression, World War II, and the stagflation of the 1970s, for example — there were always a few who made fortunes. They saw the crisis coming and took the right steps beforehand to prepare.

Wealth was simply transferred from unprepared Americans to those who took action.

This time will be no different.

And one of the best ways to ensure you’ll be on the winning side of this massive wealth transfer, says Rickards, is to take a few simple, but specific steps to protect yourself and your finances today.

Right now, these steps are fairly basic and easy to execute… but Rickards warns, could become increasingly difficult to implement as the crisis worsens.

Which is why he and his staff just completed a short presentation detailing everything you need to know to take action before the crisis unfolds.

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Peter Coyne