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
The Law of Attraction: The Basics of the Teachings of Abraham by Esther Hicks
New Book
Everyone Communicates, Few Connect: What the Most Effective People Do Differently book by John C. Maxwell
New Book
The McKinsey Way: Using The Techniques Of The World?s Top Strategic Consultants To Help You And Your Business book by Ethan M. Rasiel
New Book
Women Mathematicians Who Helped Win the Space Race book by Margot Lee Shetterly
New Book
Prayers for a Planetary Pilgrim: A Personal Manual for Prayer and Ritual
Used Book
Cure: A Journey into the Science of Mind Over Body book by Jo Marchant
New Book
Dancing Matrix: How Science Confronts Emerging Viruses book by Robin Marantz Henig
Guts!: Companies that Blow the Doors off Business-as-usual
Used Book
Hidden Potential :The Science of Achieving Greater Things by Adam Grant
New Book
HBR's 10 Must Reads on Strategy, Vol. 2 book by Harvard Business Review
New Book
Levitation's View: Lessons Voiced from an Extraordinary Journey Volume I, the Wonder Years
Used Book
The Fix: How Bankers Lied, Cheated and Colluded to Rig the World's Most Important Number book by Liam Vaughan , Gavin Finch
New Book
The Kabul Beauty School : An American Woman Goes Behind the Veil by Deborah Roriguez
New Book
Sometimes there is a Void ? Memoirs of an Outsider book by Zakes Mda
New Book
Zen Mind, Beginner's Mind: Informal Talks on Zen Meditation and Practice book by Shunryu Suzuki
New Book
Becoming a Person of Influence: How to Positively Impact the Lives of Others book by John C. Maxwell
New Book
The Everything Healthy Slow Cooker Cookbook book by Rachel Rappaport
Used Book
Early Detection: Women, Cancer, and Awareness Campaigns in the Twentieth-Century United States
Used Book
Shabono: A Visit to a Remote and Magical World in the South American Rain Forest book by Florinda Donner
Used Book
The Compound Effect: Jumpstart Your Income, Your Life, Your Success
New Book
Hinch Yourself Happy: All The Best Cleaning Tips To Shine Your Sink And Soothe Your Soul book by Mrs. Hinch
New Book