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Currency Wars: The Making of the Next Global Crisis

James Rickards

Hardcover | Pages: 304 pages

Rating: 3.96 | 4043 Users | 339 Reviews

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Title	:	Currency Wars: The Making of the Next Global Crisis
Author	:	James Rickards
Book Format	:	Hardcover
Book Edition	:	Deluxe Edition
Pages	:	Pages: 304 pages
Published	:	November 10th 2011 by Portfolio (first published November 2011)
Categories	:	Economics. Nonfiction. Finance. Business. Politics. History

Rendition Toward Books Currency Wars: The Making of the Next Global Crisis

In 1971, President Nixon imposed national price controls and took the United States off the gold standard, an extreme measure intended to end an ongoing currency war that had destroyed faith in the U.S. dollar. Today we are engaged in a new currency war, and this time the consequences will be far worse than those that confronted Nixon.Currency wars are one of the most destructive and feared outcomes in international economics. At best, they offer the sorry spectacle of countries' stealing growth from their trading partners. At worst, they degenerate into sequential bouts of inflation, recession, retaliation, and sometimes actual violence. Left unchecked, the next currency war could lead to a crisis worse than the panic of 2008.

Currency wars have happened before-twice in the last century alone-and they always end badly. Time and again, paper currencies have collapsed, assets have been frozen, gold has been confiscated, and capital controls have been imposed. And the next crash is overdue. Recent headlines about the debasement of the dollar, bailouts in Greece and Ireland, and Chinese currency manipulation are all indicators of the growing conflict.

As James Rickards argues in Currency Wars, this is more than just a concern for economists and investors. The United States is facing serious threats to its national security, from clandestine gold purchases by China to the hidden agendas of sovereign wealth funds. Greater than any single threat is the very real danger of the collapse of the dollar itself.

Baffling to many observers is the rank failure of economists to foresee or prevent the economic catastrophes of recent years. Not only have their theories failed to prevent calamity, they are making the currency wars worse. The U. S. Federal Reserve has engaged in the greatest gamble in the history of finance, a sustained effort to stimulate the economy by printing money on a trillion-dollar scale. Its solutions present hidden new dangers while resolving none of the current dilemmas.

While the outcome of the new currency war is not yet certain, some version of the worst-case scenario is almost inevitable if U.S. and world economic leaders fail to learn from the mistakes of their predecessors. Rickards untangles the web of failed paradigms, wishful thinking, and arrogance driving current public policy and points the way toward a more informed and effective course of action.

Describe Books To Currency Wars: The Making of the Next Global Crisis

ISBN:	1591844495 (ISBN13: 9781591844495)
Edition Language:	English

Rating Regarding Books Currency Wars: The Making of the Next Global Crisis

Ratings: 3.96 From 4043 Users | 339 Reviews

Critique Regarding Books Currency Wars: The Making of the Next Global Crisis

Reading this book felt a lot like watching the movie 2012, after the year 2012. In fact it has a dramatic flair that even exceeds the movie. The first page itself shows how outdated the book is. James Rickards declares that Obama will go back to the gold-backed currency regime. This audacious and miscalculated prediction perhaps makes him cringe now, though his subsequent books suggest otherwise.Rickards quickly follows it with a financial war game he participated in at the Pentagon. It sounds a

An interesting, incisive and credible analysis of what is going wrong in the financial world and why the latest currency war is being fought. The author also provides for a prescription to deal with the situation. He is firmly of the view that the Keynesian is not the right one now as the objective conditions are different from what existed during the great depression. The author advocates a proactive role for the IMF and revival of a refined version of the dormant SDR to prevent the currency

I really liked this book. It's a complicated issue and I find it difficult to follow all the players and how things have evolved over time, but I think Jim Rickards does a good job explaining the history, the various economic theories that have been used, the flaws in the system, and where we might be headed. I recommend this book to anybody who wants to try to understand where we are currently, in regards to the global economy and the value of our money (US$). If you are keeping up with the

Rickards is a well trained and experienced, commentator on economics, geopolitics and finance. This book illustrates the cracks in the world financial system. It reveals just how fragile the game governments are playing is and how even a currency war with no obvious mortal victims is actually a deadly game of attrition. The book itself "...reads like a thriller." ~ Max Keiser RT, and with its mentioning of financial war games, government planning, strategy and the nature of money itself, those

"The path of the dollar is unsustainable and therefore the dollar will not be sustained." So writes this clear-thinking author as the first line in his concluding chapter. This is an outstanding book that should be read and digested by every thinking American voter.Of course, it won't be. And so we all in for perilous times as our thoughtless Fed continues to devalue our dollar and ruin our economy. The racking up of astounding public debt every year doesn't help out either. We're shackling our

If youve wondered about the secret to Currency Wars best-selling success, heres a clue: its essentially a monetary version of Left Behind for apocalyptic end the fed types fearful of an IMF-led New World Order. Thats less a reflection on the tone of James Rickards writingthough somewhat alarmist, hes a lawyer and finance professional, not a Tim LaHaye-like rapture peddlerthan the worldviews his book will be used to support. Apart from Rickards Twitter spat with Nouriel Roubini, I have yet to see