The Death of Money: The Coming Collapse of the International Monetary System Hardcover – Apr 8 2014
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"A fast-paced and apocalyptic look at the financial future, taking in financiers' greed, central banks' incompetence and impending Armageddon for the dollar...Rickards may be right that 'the system is going wobbly.'"
—The Financial Times
The Death of Money makes a valuable contribution to our economic discourse."
"James Rickards' The Death of Money is ... making it a veritable golden age for smart books on the current state of the global economy."
“A terrifically interesting and useful book . . . fascinating.”
—KENNETH W. DAM former deputy secretary of the Treasury and adviser to three presidents
“The Death of Money contains very big, provocative ideas clearly explained and delivered in an evenhanded tone that steers away from the sensational proclamation yet successfully undercuts conventional market wisdom. Rickards’s insight enables him to connect the dots in a way that few others can. A worthy successor to Currency Wars.”
—JOHN HATHAWAY portfolio manager, Tocqueville Gold Fund
“The Death of Money is an engrossing account of the massive stresses accumulating in the global financial system, especially since the 2008 financial crisis. Jim Rickards is a natural teacher. Any serious student of financial crises and their root causes needs to read this book.”
—JOHN H. MAKIN, PH.D. resident scholar, American Enterprise Institute; former chief economist, Caxton Associates
“A crucial primer for investors and consumers for what lies immediately ahead for the United States and a world that remains entirely dependent upon the dollar. The Death of Money is an important new book for those who worry about the future of our country.”
—R. CHRISTOPHER WHALEN noted bank analyst; author of Inflated
“Rickards’s analysis of the inflation-deflation paradox, dangerous adversaries to the dollar, and the Fed’s strategy is insightful. Following his bestseller Currency Wars, this book is even better. A great book makes you think differently about the world—and this one does just that.”
—DON YOUNG twenty-five-time Institutional Investor All-Star Analyst; former board member, Financial Accounting Standards Board
About the Author
JAMES RICKARDS is the author of the national bestseller Currency Wars, which has been translated into eight languages and won raves from the likes of the Financial Times, Bloomberg, and Politico. He is a portfolio manager at West Shore Group and an adviser on international economics and financial threats to the Department of Defense and the U.S. intelligence community. He served as facilitator of the first-ever financial war games conducted by the Pentagon. He lives in Connecticut.
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Top Customer Reviews
The books main focus, is in regards to world monetary and economic systems. Rickards will bring the reader through the workings of the; IMF, The Federal Reserve, European Central Banks, Chinese economics, the gold standard, fiat currencies, and many other political considerations. Rickards explains how central bankers are battling against inflation, deflation, and sovereign debt problems. Rickards believes the IMF will eventually issue a new world currency, that replaces the US dollar. I hold some reservations on that prediction. But his explanations on several US dollar issues, make a lot of sense. The reader may also find the section on gold to be very helpful. There are all sorts of myths and misconceptions, regarding gold as a monetary unit. Rickards makes it clear, that the difficulties in the economy are structural problems. This is a lot different, then a cyclical downturn. Structural problems require large changes to a society, that will then enable positive results. Cyclical downturns are a natural result of the business cycle and tend to work themselves out.
This book was interesting and informative. I would have appreciated a glossary . The reader can expect to be, barraged by an alphabet soup of acronyms and initials. But over all, this book is recommended.
I read currency wars and it was more to the point, he talks about the potential SDR as a new role amongst 3 other alternatives. Though in the death of money, there is less bashing on the US hegemony, a strong defense of Greece's long term prognosis with the Euro, and an indisputable bashing of Chinese ring leaders. He doesn't give much attention to Chinas initiation of the AIIB, basically calling it a bluff so that the IMF will give China more power in the SDR's new role. Wait, so China is spending all of this money to scare the federal reserve and the IMF into letting them in their club? Let's not forget that, arguably, beneath all of chinas corruption is still a robust economy. China can weather a collapse without an SDR. China can create its own club without having a gold standard, too.
I agree with what he says about gold- that it will always be manipulated to maintain government power, but what good will the SDR be? If the SDR is going to bail out the world during the next crisis, then what is going to bail out the SDR? He doesn't seem to have a criticism of the SDR. In fact, I think he is trying to prepare us for the ATTEMPT of an issuance of the SDR as the new reserve currency. I respect Rickards, but the more I read the book, the more I felt like he was a secret spy agent.
Overall, I think this book was written with no clear objective for the reader to recognize, sure its called the death of money, but more subtlety the author loops around in circles with a lot of technical jargon that could easily cause ambiguity for the reader. Lets not forget, he is a lawyer. One thing he seems quite sure of though, is the SDR.
What impressed me the most is the backstory on how the various economic factors interact, and how various economic crises formed.
If you are doing your own financial planning, it would be well worth your time to read this. Again, this is the single best book I have read in years.
Most recent customer reviews
A good look at the current economic challenges. In depth and well researched, this book also takes a broader look at what is really happening around the world and to our monetary... Read morePublished 4 months ago by Amazon Customer
Any one with an interest in the inevitable demise of the dollar needs this book. Written for the educated layman, not the academic. The last 5 pages may be the most valuable.Published 11 months ago by Jan Wall
Not necessarily agree with the author but this book is very informative.
Help me understand how the international financial system works!
The initial section regarding currency wars was a bit longer than I would have liked, but it set up the rest of the book well, making it clear how easily manipulated the currency... Read morePublished 18 months ago by Paul Frew
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