Present Appertaining To Books Currency Wars: The Making of the Next Global Crisis
| Title | : | Currency Wars: The Making of the Next Global Crisis |
| Author | : | James Rickards |
| Book Format | : | Hardcover |
| Book Edition | : | Special Edition |
| Pages | : | Pages: 304 pages |
| Published | : | November 10th 2011 by Portfolio (first published November 2011) |
| Categories | : | Economics. Nonfiction. Finance. Business. Politics. History |
James Rickards
Hardcover | Pages: 304 pages Rating: 3.96 | 4043 Users | 339 Reviews
Explanation As Books Currency Wars: The Making of the Next Global Crisis
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.
Describe Books In Favor Of Currency Wars: The Making of the Next Global Crisis
| ISBN: | 1591844495 (ISBN13: 9781591844495) |
| Edition Language: | English |
Rating Appertaining To Books Currency Wars: The Making of the Next Global Crisis
Ratings: 3.96 From 4043 Users | 339 ReviewsAssess Appertaining To Books Currency Wars: The Making of the Next Global Crisis
Thorough and well written. While many parts were very interesting, this is not a light read. At times, it can be dry and complicate day the same time. Scary to think how much our currency is pegged to nothing but perception, and how China could destroy our currency by calling in our debt to then when their bonds come due. Savers lose, speculators stand to win in our world of government-controlled currency. Empirical data is explained, showing that Keynesian multipliers are negative whenThis is a really good book - but not a particularly "fun" read. The topic is pretty deep, but even with no formal background in economics (like me), the book is readable and the author does a good job of explaining the issues. The basic proposition is quite scary - that currency manipulation can be used as an effective mechanism to destroy an economy. Given the fragility of the US economy (debt being held by China, others), this is more than plausible. He favors a return in some form to a gold
This was a fascinating book. It covers a lot that I feel like I knew generally but gives some technical details to back up the claims making macroeconomics a lot less "theoretical." I also think that the global economy and the dynamics that support it are even more complicated than I thought and the merits of some measure of intervention are a bit more gray than I had imagined. There was quite a bit in the book that was over my head regarding high finance and Wall Street jargon.The chapter on
This book is the blueprint to current events. What is happening to the dollar? What is at risk in our fiscal relationship with China? With Europe? What are the implications of Obama's policy to double exports? How will we get out of this depression?It is most remarkable to read such a prescient book in the midst of what Rickards' calls the third currency war. Many already familiar with how the Federal Reserve works, with deficit spending, and a general knowledge of stocks and bonds may not be
I've never thought much about our financial system. Every so often my curiosity is aroused at how it is those Wall Street traders are able to profit so handsomely from things like arbitrage and other forms of cream-skimming, but generally, I'm focused on other things.So Currency Wars has been quite an education for me, and a very interesting one. I learned from it the relatively immaturity of our particular form of currency, for example. I didn't know that for most of the past two hundred years,
This book was quite interesting, helping me understand a little more:Why the FED does all the horrible things it does Why FDR confiscated American's gold with an executive order &Why our president could possibly do the same thing if a crisis arises. Why the GOV is intentionally trying to devalue the dollar with QEWhy the elite laugh at those who speak of the need for a gold standardWhy the last two global currency wars hurt even the winners Its something else how entangled our world is
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