Currency Wars

Author: James Rickards
Publisher: Penguin
ISBN: 9781591845560
Release Date: 2012
Genre: Business & Economics

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.The next crash is overdue. Recent headlines about the Eurozone crisis, the bailouts for Greece, riots caused by austerity measures as well as the debasement of the dollar.

Currency Wars

Author: James Rickards
Publisher: Penguin
ISBN: 9781101558898
Release Date: 2011-11-10
Genre: Business & Economics

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. From the Hardcover edition.

Currency Wars

Author: James Rickards
Publisher: Penguin UK
ISBN: 9780241340950
Release Date: 2019-09-03
Genre: Business & Economics

'Let's hope he's wrong' Financial Times 'One of the scariest books I've read this year. The picture that emerges is dark yet comprehensive and satisfying' Bloomberg Businessweek 'No sleepy tome on monetary policy, Currency Wars is a white-knuckle exercise' Forbes Currency wars are one of the most destructive and feared outcomes in international economics. At best, they result in countries stealing growth from their trading partners. At worst, they degenerate into inflation, recession and real violence. In this 5th anniversary edition, James Rickards concludes that currency wars are as problematic now as they were in 1971 when President Nixon took the dollar off the gold standard. Headlines about the debasement of the dollar, bailouts in Europe and Chinese and currency manipulation are all indicators that we're entering an even more dangerous phase. In this post-Trump, post-Brexit world of political uncertainty, James Rickards, New York Times bestseller and Strategic Adviser to the US intelligence community, argues that this is more than just a concern for economists and investors. The world is facing growing threats to its national security - from clandestine gold purchases by China to the hidden agendas of sovereign wealth funds. Left unchecked, the next currency war could end with massive casualties on all sides.

The Death of Money

Author: James Rickards
Publisher: Penguin UK
ISBN: 9780241966747
Release Date: 2014-04-03
Genre: Business & Economics

In this New York Times bestseller and Wall Street Journal bestseller, Rickards explores the future of the international monetary system '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.' Financial Times The international monetary system has collapsed three times in the past hundred years. Each collapse was followed by a period of war, civil unrest, or damage to the stability of the global economy. Now James Rickards explains why another collapse is rapidly approaching. The US dollar has been the global reserve currency since the end of the Second World War. If the dollar fails the entire international monetary system will fail with it. But Washington is gridlocked, and America's biggest competitors - China, Russia, and the Middle East - are doing everything possible to end US monetary hegemony. The potential results: Financial warfare. Deflation. Hyperinflation. Market collapse. Chaos. James Rickards offers a bracing analysis of the fundamental problem: money and wealth have become ever more detached. Money is transitory and ephemeral; wealth is permanent and tangible. While wealth has real value worldwide, money may soon be worthless. The world's big players - governments, banks, institutions - will muddle through by making up new rules, and the real victims of the next crisis will be small investors. Fortunately, it is not too late to prepare for the coming death of money. In this riveting book, James Rickards shows us how. 'A terrifically interesting and useful book...fascinating' Kenneth W. Dam, former deputy secretary of the Treasury and adviser to three presidents James Rickards is the author of Currency Wars, which has been translated into eight languages and won rave reviews from 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.

The Road to Ruin

Author: James Rickards
Publisher: Penguin UK
ISBN: 9780241972557
Release Date: 2016-11-15
Genre: Political Science

The New York Times bestseller that reveals how investors can prepare for the next financial panic - and why it's coming sooner than you think. The global economy has made what seems like an incredible comeback after the financial crisis of 2008. Yet this comeback is artificial. Central banks have propped up markets by keeping interest rates low and the supply of money free-flowing. They won't bail us out again next time. And there will be a next time - soon. In The Road to Ruin, bestselling author James Rickards identifies how governments around the world are secretly preparing an alternative strategy for the next big crisis: a lockdown. Instead of printing money to reliquify markets and prop up assets, governments are preparing to close banks, shut down exchanges and order powerful asset managers not to sell. They're putting provisions in place that will allow them to do so legally. What's more, the global elite has already started making their own preparations, including hoarding cash and hard assets. When the next one comes, it will be the average investor who suffers most - unless he or she heeds Rickards' warning and prepares accordingly. James Rickards is the bestselling author of Currency Wars and The Death of Money. He is a portfolio manager at West Shore Group and an adviser on international economics and financial threats to the Department of Defence and the US intelligence community. He served as facilitator of the first-ever financial war games conducted by the Pentagon.

The New Case for Gold

Author: James Rickards
Publisher: Penguin
ISBN: 9781101980781
Release Date: 2016-04-05
Genre: Business & Economics

**USA Today bestseller and Wall Street Journal business bestseller** They say John Maynard Keynes called gold a "barbarous relic." They say there isn’t enough gold to support finance and commerce. They say the gold supply can’t increase fast enough to support world growth. They’re wrong. In this bold manifesto, bestselling author and eco­nomic commentator James Rickards steps forward to defend gold—as both an irreplaceable store of wealth and a standard for currency. Global political instability and market volatility are on the rise. Gold, always a prudent asset to own, has become the single most important wealth preserva­tion tool for banks and individuals alike. Rickards draws on historical case studies, monetary theory, and personal experience as an investor to argue that: • The next financial collapse will be exponentially bigger than the panic of 2008. • The time will come, sooner rather than later, when there will be panic buying and only central banks, hedge funds, and other big players will be able to buy any gold at all. • It’s not too late to prepare ourselves as a nation: there’s always enough gold for a gold standard if we specify a stable, nondeflationary price. Providing clear instructions on how much gold to buy and where to store it, the short, provocative argu­ment in this book will change the way you look at this “barbarous relic” forever. From the Hardcover edition.

Rich Dad s Advisors Guide to Investing In Gold and Silver

Author: Michael Maloney
Publisher: Business Plus
ISBN: 9780446544641
Release Date: 2008-08-28
Genre: Business & Economics

"Throughout the ages, many things have been used as currency: livestock, grains, spices, shells, beads, and now paper. But only two things have ever been money: gold and silver. When paper money becomes too abundant, and thus loses its value, man always turns back to precious metals. During these times there is always an enormous wealth transfer, and it is within your power to transfer that wealth away from you or toward you." --Michael Maloney, precious metals investment expert and historian; founder and principal, Gold & Silver, Inc. The Advanced Guide to Investing Gold and Silver tells readers: The essential history of economic cycles that make gold and silver the ultimate monetary standard. How the U.S. government is driving inflation by diluting our money supply and weakening our purchasing power Why precious metals are one of the most profitable, easiest, and safest investments you can make Where, when, and how to invest your money and realize maximum returns, no matter what the economy's state Essential advice on avoiding the middleman and taking control of your financial destiny by making your investments directly.

The Dollar Trap

Author: Eswar S. Prasad
Publisher: Princeton University Press
ISBN: 9781400873647
Release Date: 2015-08-25
Genre: Business & Economics

The U.S. dollar's dominance seems under threat. The near collapse of the U.S. financial system in 2008–2009, political paralysis that has blocked effective policymaking, and emerging competitors such as the Chinese renminbi have heightened speculation about the dollar’s looming displacement as the main reserve currency. Yet, as The Dollar Trap powerfully argues, the financial crisis, a dysfunctional international monetary system, and U.S. policies have paradoxically strengthened the dollar’s importance. Eswar Prasad examines how the dollar came to have a central role in the world economy and demonstrates that it will remain the cornerstone of global finance for the foreseeable future. Marshaling a range of arguments and data, and drawing on the latest research, Prasad shows why it will be difficult to dislodge the dollar-centric system. With vast amounts of foreign financial capital locked up in dollar assets, including U.S. government securities, other countries now have a strong incentive to prevent a dollar crash. Prasad takes the reader through key contemporary issues in international finance—including the growing economic influence of emerging markets, the currency wars, the complexities of the China-U.S. relationship, and the role of institutions like the International Monetary Fund—and offers new ideas for fixing the flawed monetary system. Readers are also given a rare look into some of the intrigue and backdoor scheming in the corridors of international finance. The Dollar Trap offers a panoramic analysis of the fragile state of global finance and makes a compelling case that, despite all its flaws, the dollar will remain the ultimate safe-haven currency.

The Coming First World Debt Crisis

Author: A. Pettifor
Publisher: Springer
ISBN: 9780230236752
Release Date: 2006-10-02
Genre: Political Science

In this book, Ann Pettifor examines the issues of debt affecting the 'first world' or OECD countries, looking at the history, politics and ethics of the coming debt crisis and exploring the implications of high international indebtedness for governments, corporations, households, individuals and the ecosystem.

The History of Money

Author: Jack Weatherford
Publisher: Crown Business
ISBN: 0307556743
Release Date: 2009-09-23
Genre: Business & Economics

In his most widely appealing book yet, one of today's leading authors of popular anthropology looks at the intriguing history and peculiar nature of money, tracing our relationship with it from the time when primitive men exchanged cowrie shells to the imminent arrival of the all-purpose electronic cash card. 320 pp. Author tour. National radio publicity. 25,000 print. From the Hardcover edition.

The Dollar Crisis

Author: Richard Duncan
Publisher: John Wiley & Sons
ISBN: 9781118177075
Release Date: 2011-10-31
Genre: Business & Economics

In this updated, second edition of the highly acclaimed international best seller, The Dollar Crisis: Causes, Consequences, Cures, Richard Duncan describes the flaws in the international monetary system that have destabilized the global economy and that may soon culminate in a deflation-induced worldwide economic slump. The Dollar Crisis is divided into five parts: Part One describes how the US trade deficits, which now exceed US$1 million a minute, have destabilized the global economy by creating a worldwide credit bubble. Part Two explains why these giant deficits cannot persist and why a US recession and a collapse in the value of the Dollar are unavoidable. Part Three analyzes the extraordinarily harmful impact that the US recession and the collapse of the Dollar will have on the rest of the world. Part Four offers original recommendations that, if implemented, would help mitigate the damage of the coming worldwide downturn and put in place the foundations for balanced and sustainable economic growth in the decades ahead. Part Five, which has been newly added to the second edition, describes the extraordinary evolution of this crisis since the first edition was completed in September 2002. It also considers how the Dollar Crisis is likely to unfold over the years immediately ahead, the likely policy response to the crisis, and why that response cannot succeed. The Dollar Standard is inherently flawed and increasingly unstable. Its collapse will be the most important economic event of the 21st Century.

Breakout Nations In Pursuit of the Next Economic Miracles

Author: Ruchir Sharma
Publisher: W. W. Norton & Company
ISBN: 9780393083835
Release Date: 2012-04-09
Genre: Business & Economics

International Bestseller One of Foreign Policy's "21 Books to Read in 2012" A Publishers Weekly Top 10 Business Book “The best book on global economic trends I’ve read in a while.”—Fareed Zakaria, CNN GPS To identify the economic stars of the future we should abandon the habit of extrapolating from the recent past and lumping wildly diverse countries together. We need to remember that sustained economic success is a rare phenomenon. After years of rapid growth, the most celebrated emerging markets—Brazil, Russia, India, and China—are about to slow down. Which countries will rise to challenge them? In his best-selling book, writer and investor Ruchir Sharma identifies which countries are most likely to leap ahead and why, drawing insights from time spent on the ground and detailed demographic, political, and economic analysis. With a new chapter on America’s future economic prospects, Breakout Nations offers a captivating picture of the shifting balance of global economic power among emerging nations and the West.

Fed Up

Author: Danielle DiMartino Booth
Publisher: Penguin
ISBN: 9780735211650
Release Date: 2017
Genre: Business & Economics

In the early 2000s, a Wall Street escapee writing a financial column for the Dallas Morning News, Booth attracted attention for her criticism of the Fed's low interest rate policies and her warnings about the housing market. Nobody was more surprised when the head of the Dallas Federal Reserve offered her a job as a financial analyst. Figuring she could have more of an impact on Fed policies from inside, she also observed how the Fed abdicated its responsibility to the people both before and after the financial crisis and how nobody within the Fed seems to have learned from the experience.

The Making of Global Capitalism

Author: Leo Panitch
Publisher: Verso Books
ISBN: 9781844677429
Release Date: 2012-10-09
Genre: Business & Economics

Groundbreaking account of the development of capitalism. The all-encompassing embrace of world capitalism at the beginning of the twenty-first century was generally attributed to the superiority of competitive markets. Globalization had appeared to be the natural outcome of this unstoppable process. But today, with global markets roiling and increasingly reliant on state intervention to stay afloat, it has become clear that markets and states aren’t straightforwardly opposing forces. In this groundbreaking work, Leo Panitch and Sam Gindin demonstrate the intimate relationship between modern capitalism and the American state, including its role as an “informal empire” promoting free trade and capital movements. Through a powerful historical survey, they show how the US has superintended the restructuring of other states in favor of competitive markets and coordinated the management of increasingly frequent financial crises. The Making of Global Capitalism, through its highly original analysis of the first great economic crisis of the twenty-first century, identifies the centrality of the social conflicts that occur within states rather than between them. These emerging fault lines hold out the possibility of new political movements transforming nation states and transcending global markets.

The Downfall of Money

Author: Frederick Taylor
Publisher: Bloomsbury Publishing USA
ISBN: 9781620402382
Release Date: 2013-09-17
Genre: History

An economic horror story: The complete meltdown of a major modern country's financial system, and its disastrous effects on every aspect of society. A hundred years ago, many theorists believed-just as they did at the beginning of our twenty-first century-that the world had reached a state of economic perfection, a never before seen human interdependence that would lead to universal growth and prosperity. Then, as now, the German mark was one of the most trusted currencies in the world. Yet the early years of the Weimar Republic in Germany witnessed the most calamitous meltdown of a developed economy in modern times. The Downfall of Money will tell anew the dramatic story of the hyperinflation that saw the mark-worth 4.2 to the dollar in 1914-plunge until it traded at over 4 trillion to 1 by the autumn of 1923. The story of the Weimar Republic's financial crisis clearly resonates today, when the world is again anxious about what money is, what it means, and how we can judge if its value is true. It is a trajectory of events uncomfortably relevant for our own uncertain world. Frederick Taylor-one of the leading historians of Germany writing today- explores the causes of the crisis and what the collapse meant to ordinary people and traces its connection to the dark decades that followed. Drawing on a wide range of sources and accessibly presenting vast amounts of research, The Downfall of Money is a timely and chilling exploration of a haunting episode in history.