“Project Sandman” describes a 100+ nation agreement that, when triggered, will see those nations simultaneously dump the dollar and abandon the “petrodollar” status that has allowed the USA to enjoy 50 years of fiat currency counterfeiting and material abundance at the expense of everyone else. When this decision is triggered, the dollar and all dollar-denominated assets will plunge to near-ZERO literally overnight.
This means all dollar-denominated bank accounts, bonds, pension funds, treasuries and other investment vehicles will essentially be worth zero for the simple reason that all banks and markets will freeze operations. (This is the James Rickards “Ice-9” scenario.)
Any funds you have in the stock market will be stuck in those markets, and the entire infrastructure of banking and finance will suffer a catastrophic liquidity crisis that will “freeze” nearly all financial transactions.
Credit cards will stop functioning. Food stamp systems will go down and stay down. ATMs will not function. Wire transfers will be halted, checks won’t be honored and banks will appear to be offline when accessed through the internet, displaying “maintenance” messages to panicked users.