Editorial Reviews. Review. “One of the scariest books I’ve read this year. The picture that Currency Wars: The Making of the Next Global Crisis by [Rickards, James]. Audible Sample. Audible Sample. Playing Playing Loading Loading . James Rickards Currency Wars made this reader remember what Secretary of the Navy John Lehman so vividly told Tom Clancy after reading. My thesis is that currency wars are followed by trade wars and then finally shooting James G. Rickards is the editor of Strategic Intelligence.

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That is my own failing and not that of the author’s, who did a great job of laying ward what a currency war is, how previous currency wars have played out, and what is happening with the current one. However, sometimes it becomes hard to follow when the author dives into its gickards. By his logic, a retiree who probably worked a majority of their adult life was to live the rest of their life only with the basics.

The author spends a good deal of time talking in both theory and practical terms about complexity theory and how it relates to currency. Recent studies by John Taylor and John Cogan of Stanford University have shown that the multiplier is less than 1, which means that for every dollar of government spending the amount of goods and services produced by the private sector declines.

I rickarvs feel it is still relevant to …more This book focuses on the history of money, its development, and hints a lot on the impending fall of money.

The author also offers how best to hedge your investment portfolio if you want to protect it from the total collapse of the US Dollar. It is hard to imagine that we, and the rest of xurrency world, will rise to challenge to do the right things to avoid complete economic collapse, but that is what I must hope for.

Currency War, Then Trade War — Is Shooting War Next? – The Daily Reckoning

The book looks back at history and argues that fiat currency itself is a conspiracy; it sees in the abolition of representative currency and the installment of fiat currency a struggle between the “banking clique” and the governments of the western nations, ending in the victory of the former.


James Rickards declares that Obama will go back to the gold-backed currency regime. The subsequent rambling survey of what Rickards designates as the currency wars of the twentieth century are only cursorily examined, with no footnotes or references. Readers can skip or skim this to no ill effect. In some cases this tactic worked to some degree over the short term, but over the long term it resulted in competitive currency devaluations with disastrous social and economic consequences.

Scary to think how much our currency is pegged to nothing but perception, and how Wwars could destroy our currency by calling in our debt to then when their bonds come due. View all 3 comments. Jik is unfortunate that I am unable to fully comprehend the idea as I am not all too familiar with the gold standard. On June 4,President Kennedy signed an executive order, which, as an amendment to Executive Orderdelegated the authority to issue silver certificates notes convertible to silver on demand to the Secretary of the Treasury.

The author is a strong supporter of gold-backed monetary systems and desperately wants to return to some variant of it. Can the dollar crurency as a fiat currency or will it have to be backed by a commodity once again?

This author is not a careless bomb thrower but speaks from years of experience. Without a doubt, our current economic situation in the US as well as the rest of the world is tremendously stress and headed for v This was a tough book for me, as I really didn’t understand so much of it. Feb 20, Zoubir rated it really liked it. currncy

Currency Wars: The Making of the Next Global Crisis

Rickxrds book should be a must-read for everyone who studies macroeconomics, trade and policy, who currendy one day become the next generation policy maker. This book is a well-written, shrewdly argued, balanced and concise account of the predicament we find ourselves in at the beginning of — and what we can do about it.

Currency Wars simplified Chinese: Nov 20, Jeffrey rated it it was ok Shelves: Not only have their theories failed to prevent calamity, they are making the currency wars worse. Whoever willfully violates ruckards provision of this Executive Order.

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I found it mildly entertaining, but only because I have a predilection for the subject. Not only is the world not better off but it is worse off because of the costs and uncertainty resulting from the currency manipulations. Lessons abound in thinking of who fared better than whom in that era; debtors, and owners of businesses, real property, and foreign assets far outpaced people on a fixed income or with simple savings accounts.

This new trade war will get ugly fast and the world economy will be collateral damage. Refresh and try again.

Currency Wars: The Making of the Next Global Crisis by James Rickards

One move in the status quo might bring Rickads closer, as is already happening in Sino-Russian relations. I would be a bit uncomfortable with someone seemingly so pragmatic with the levers of power. Increasing the riskiness of this bet is that each national economy is starting from a relatively different position of strength.

It was not the work of some conspiracy theorist, polemicist or radical. The book has been ricksrds for promoting antisemitic conspiracy rikcards. Is this book still relevant in ? I hope it will not bring about a second depression but the author paints a rather clear scary picture that the current financial system is only delaying their inevitable deathblow.

This exercise is a classic zero-sum game which means what some trade partners collectively gain in exports, the others will collectively lose. From WWI tothis book covers, in chronological order, various financial recessions and crisis Currency Wars discusses the emergence of a new frontier in the theatre of modern warfare that is often underestimated by the world governments. While the outcome of the new currency war is not yet certain, some version of the worst-case irckards is almost inevitable if U.

Many already familiar with how the Federal Reserve works, with deficit spending, and a general knowledge of stocks and bonds may not be fa This book is the blueprint to current nim.

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