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Currency Wars: The Making of the Next Global Crisis Paperback – Aug 28 2012
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“One of the scariest books I’ve read this year. The picture that emerges is dark yet comprehensive and satisfying.” — Bloomberg Businessweek
“One of the most urgent books of the fall.” — Mike Allen, Politico
“Let’s hope he’s wrong.” — Financial Times
“Unsettling…fascinating…a thorough analysis of how nations have manipulated their currencies…with disastrous consequences.” — Fort Worth Star-Telegram
About the Author
James Rickards is a counselor, investment banker, and risk manager with over thirty years' experience in capital markets. He advises the Department of Defense, the U.S. intelligence community, and major hedge funds on global finance, and served as a facilitator of the first ever financial war games conducted by the Pentagon. A frequent guest on CNBC, CNN, Fox, C-SPAN, Bloomberg TV, and NPR, Rickards also lectures at Northwestern University and at the School of Advanced International Studies.
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Top Customer Reviews
Rickards provides an historical overview, drawing important lessons and debunking some myths from the gold standard era, two previous currency war eras (post WWI and 1967-1987), and the recent rise of the G20, globalization and state capital. For example, he debunks the myth that German hyperinflation in 1921 was to devalue war debts; rather it was an effort to spur an export led economic recovery when no other options were acceptable. 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. With respect to recent history, Rickards is outstanding in highlighting recent news items such as Gazprom’s shutting the valve on Ukraine’s natural gas lines and China’s and Russia’s statements and actions with respect to developing an alternative reserve currency.
Rickards shows the weaknesses in monetarism and Keynesianism, and then introduces complexity theory, in which increasingly complex systems - societies and financial institutions to name but two - require exponentially higher levels of energy to sustain.Read more ›
Everyone has raved about the content and the author. However, I didn't find it fascinating in any way.
It's not that the information presented is bad, or wrong...
Really, there just a couple of things you need to know about currency. It's the most manipulated asset on the planet. Currency can be what any man wants it to be, and it's perceived value can be changed on a whim to the determent of everyone forced to use it. Ditto for gold... or any other asset for that matter.
I think Jim is just trying to top up his retirement fund by writing quite mediocre books and making rounds in the press promoting them. Most of his calls have been wrong. From his gold @ $5000 an ounce to the fed wants a lower dollar so the Euro will march higher forecasts. Really? Come Jim. Get a real job.
For someone with his background it's hilarious how clueless he is. WOW! Like all economists, and politicians for that matter, their time would be better spent getting a real productive profession that actually contributes to society. It's all make believe.
Most recent customer reviews
Before reading it I was ready to start speculating on railroads and gold, but the main take away from the book is that in a severe economic crisis the government will do what ever... Read morePublished 14 months ago by Matt
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