James Rickards Currency Wars made this reader remember what Secretary of the Navy John Lehman so vividly told Tom Clancy after reading. Currency Wars by Song Hongbing, also known as The Currency War, is a bestseller in China, devaluation, see Currency war. For James G. Rickards’ Currency Wars: The Making of the Next Global Crisis, see James G. Rickards. In , President Nixon imposed national price controls and took the United States off the gold standard, an extreme measure intended to end an ongoing.

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This book uses the claim [ citation needed ] that the Federal Reserve is a private body to support its role. 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.

Currency Wars: The Making of the Next Global Crisis

The Currency Wars author traces the start of WW II, back to a currency war which started in Germany in the early ‘s when the German’s changed the exchange rate of the Mark relative to the price of gold. Furthermore, is it even possible in the age of mass democracy to operate such a disciplined system of exchange?

Towards the end, he even advocates specific banking regulation to avoid a repeat of the crisis of while simultaneously advocating for smaller government. Read it Forward Read it first. As James Rickards argues in Currency Warsthis is more than just a concern for economists and investors. According to complexity theory, every increase in scale causes a much greater increase in risk. We are experiencing technical difficulties.


By James Rickards Posted July 10, Currency wars begin in a condition of too much debt and not enough growth. While many parts were very interesting, this is not a light read.

Currency Wars by James Rickards | : Books

Countries steal growth from their trading partners by cheapening their currencies to promote exports and import inflation. Recent headlines rickardz the debasement of the dollar, bailouts in Greece and Ireland, and Chinese currency manipulation are all indicators of the growing conflict.

Currency wars have happened before, and will happen again, until everyone realizes that it is a mutually destructive weapon.

Sep 25, Beth rated it it was amazing. The bigger the scale, the more catastrophic the events. In this case, the rate favours EU nations exporting their goods to Britain as the Euro has depreciated against rlckards Pound and made their goods more desirable in foreign markets e.

Can the dollar survive as a fiat currency or will it have to be backed by a commodity once again?

Currency War, Then Trade War — Is Shooting War Next? – The Daily Reckoning

The cognitive dissonance is astounding. The present currency war started in January But he takes a detour to describe in detail the two currency wars that happened in the last century and an imminent third one, and never really comes back to the simulation. Greater than any single threat is the very real danger of the collapse of the dollar itself.

I didn’t know that for most of the past two hundred years, all currencies had fixed exchange values pinned to gold, and that the nations would work together when relative currency value adjustments were made.


This is a really good book – but not a particularly “fun” read. Eventually, the world wakes up to this reality and moves to the trade war stage.

I’ve also watched some of his presentations at investor conferences. Concise, well written, and thought provoking, Currency Wars should be read by all. There’s a lot of confidence in his arguments that comes only with hindsight, a characteristic feature of every economist. For example, he seems too comfortable with the idea of the Treasury seizing foreign-owned gold that is being stored in New York. Think this is far-fetched?

As Rickards, points out, though, this policy had a hidden agenda: Not only have their theories failed to prevent calamity, they are making the currency wars worse. Are You a Team Player? Crisply written with just the right level of theory to prove points without dragging the reader into detailed James Rickards has combined a thought provoking mix of history, economics, current events, and his own experience to produce a fascinating and thought provoking book.

Also by James Rickards. To think that the current currrency money is flawless reminds me of the notion that those who knows less thinks they know more whilst those that know more knows they know less.

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.