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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Just a moment while we sign you in to your Goodreads account. The style is infused with an easy smugness that presumes absolute curremcy from the reader without bothering to substantiate any claims. The topic is pretty deep, but even with no formal background in economics like methe book is readable and the author does a good job of explaining the issues.

However, if the signals are missed either intentionally or unintentionally, the author postulates several possible catastrophic outcomes including the collapse of the US Dollar. Rickards rkckards an historical overview, drawing important lessons and debunking some myths from the gold standard era, two previous currency war eras post WWI andand the recent rise of the G20, globalization and state capital. When Rickards is addresses the specific issues of monetary policy, both in terms of its use in domestic and international matters, he is insightful and direct.

If you’re looking for an informative read on a topic that doesn’t get a lot of daily press – i recommend this However, he finds the author, by that time the structured finance department manager of Hong Yuan securities, [25] lacks financial expertise to be qualified to prescribe China with future directions. Views Read Edit View history. The problem is that this makes eickards pro-gold argument seem better sourced than it actually is. It covers a lot that Awrs feel like I knew generally but gives some technical details to back up the claims making macroeconomics a lot less “theoretical.

I find that very helpful, albeit very minimal to fully appreciate the whole book.

The Rothschild family’s wealth is times the Bill Gates’ wealth. Many already familiar with how the Federal Reserve works, with deficit spending, and a general knowledge of stocks and bonds may not be familiar with the inner workings of currencies. Oct 08, Ian Robertson rated it it was amazing. Its solutions present hidden new dangers while resolving none of the current dilemmas. Currency wars have happened before-twice in the last century alone-and they always end badly.

Not only is the world warrs better off but it is worse off because of the costs and uncertainty resulting from the currency manipulations. Books by James Rickards. Can the dollar survive as a fiat currency or will it have to be backed by a commodity once again? The opening line reads in part: Feb 20, Zoubir rated it really liked it.

Currency Wars – Wikipedia

It is most remarkable to read such a prescient book in the midst of what Rickards’ calls the third currency war. What is at risk in our fiscal relationship with China? 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.

Rickards does an excellent job providing that map, and as with the geographic maps in the early centuries of exploration, competing economic cartographers might debate the details, but all would acknowledge that having a map is far superior to rickarfs following a crowd. Also includes major section titled “Presidential Decree No. But Rickards sees an escape route for Beijing: Eickards chapter on co This was a fascinating book. Currency wars have happened before, and will happen again, until everyone realizes that it is a mutually destructive weapon.

Feb 11, Troy Tegeder rated it really liked it. Direct support programs like food stamps provided a significant positive multiplier benefit to the economy while the significantly negative effects were caused by the tax cuts in the package.

Currency Wars: The Making of the Next Global Crisis

Chapter nine “The Misuse of Economics” is also a gripping read. I tend to agree with his thesis, b James Rickard is great and easy to understand. It also claims that the Rothschild Family has the wealth of 5 trillion dollars whereas Bill Gates only has 40 billion dollars. It is like the hedge fund manager from the Big Short Michael Lewis. The devaluation of the US dollar relative to other counties’ currencies makes US exports cost less and is intended to spur US economic growth at the expense of its trading partners.

Archived from the original on August 30, One move in the status quo might bring China closer, as is already happening in Sino-Russian relations.

Many people are far more nervous today about our current fiscal and monetary direction, though for most it is just a general nervousness – a recognition that our economic path, now illuminated by the crisis, is not war smooth road but a precipice edge.

Currency War, Then Trade War — Is Shooting War Next?

As the annual net increase in gold never exceeds 1. This book is frankly terrifying. But none of these concerns compare to the ineptitude of the Federal Reserve Bank of New York, which has constantly failed on price stability, unemployment and regulation.

Rickards starts with a historical tour, highlighting the near-catastrophic results of two previous currency wars — the first of which led to the Great Depression and World War II, and the second of which led the malaise and stagflation of the s. Goodreads helps you keep track of books you want to read. The devaluation of the US dollar relative to other counties’ currencies makes US exports cost less and is The author did a good job of explaining the history and politics of currency wars, and yes, there are always nationalistic politics involved.

But there is less excess capacity in China to absorb the surplus without causing inflation than in the US. 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.