
Currency Wars: The Making of the Next Global Crisis book by James Rickards
By James RickardsCurrency Wars: The Making of the Next Global Crisis book by James Rickards
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.
Book details
- Paperback
- 304 pages
- English
- 1591844495
- 9781591844495
About James Rickards
james rickards is the author of the acclaimed national bestseller currency wars, which has been translated around the world. he is a portfolio manager at w Read More about James Rickards
More Books By James Rickards
People who bought this also bought
Bounce: The Art of Turning Tough Times into Triumph book by Keith McFarland
New Book
The Beginning of Infinity: Explanations That Transform the World book by David Deutsch
New Book
I Heard God Talking to Me: William Edmondson and His Stone Carvings
Used Book
Founding Father: Rediscovering George Washington book by Richard Brookhiser
Used Book
Amedeo : a true story of Love and war in Abyssinia book by Sebastian O'Kelly
New Book
The Power of Right Believing: 7 Keys to Freedom from Fear, Guilt, and Addiction book by Joseph Prince
New Book
The Ideal Team Player: How to Recognize and Cultivate The Three Essential Virtues book by Patrick M. Lencioni
New Book
Do the Work: The Official Unrepentant, Ass-Kicking, No-Kidding, Change-Your-Life Sidekick to Unfu*k Yourself book by Gary John Bishop
New Book
HBR's 10 Must Reads on Emotional Intelligence (with featured article
New Book
Cleaning Up Your Mental Mess ? 5 Simple, Scientifically Proven Steps to Reduce Anxiety, Stress, and Toxic Thinking book by Caroline Leaf
New Book
Women in the Context of International Development and Co-operation: Review and Perspectives
Used Book
Lead Like Jesus Revisited: Lessons from the Greatest Leadership Role Model of All Time book by Ken Blanchard
New Book
Moonwalking with Einstein: The Art and Science of Remembering Everything book by Joshua Foer
New Book
Read and Get Rich: How the Hidden Power of Reading Can Make You Richer in All Areas of Your Life book by Burke Hedges
Used Book
Misquoting Jesus: The Story Behind Who Changed the Bible and Why book by Bart D. Ehrman
New Book
Johnny Carson: A Taut Portrait of a Complex Man Revealing the True Johnny Carson book by Henry Bushkin
Used Book
An Hour to Live, an Hour to Love: The True Story of the Best Gift Ever Given book by Richard Carlson
New Book
During: A Couple's Intimate Experience With Breast Cancer Treatment
Used Book