Editorial Reviews. Review. “One of the scariest books I’ve read this year. The picture that Currency Wars: The Making of the Next Global Crisis by [Rickards, James]. Audible Sample. Audible Sample. Playing Playing Loading Loading . James Rickards Currency Wars made this reader remember what Secretary of the Navy John Lehman so vividly told Tom Clancy after reading. My thesis is that currency wars are followed by trade wars and then finally shooting James G. Rickards is the editor of Strategic Intelligence.

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But the Eurozone is a benign example and is not an offender of deliberate devaluation.

Rickards sees a wholesale collapse of the dollar — and, by extension, the global financial system — looming ahead. Rickards frames his book with an anecdote about his participation in a pentagon war game designed to simulate financial markets.

But none of these concerns compare to the ineptitude of the Federal Reserve Bank of New York, which has constantly failed on price stability, unemployment and regulation. It is unfortunate that Tickards am unable to fully comprehend the idea as I am not all too familiar with the gold standard.

Currency Wars: The Making of the Next Global Crisis

Why, of course, export growth spurred on by currency devaluation. Because the US economy had binged on credit and leveraged itself to the brink — consumption could no longer drive US growth.

It is hard to imagine that we, and the rest of the world, will rise to challenge to do the right things to avoid curreency economic collapse, but that is what I must hope for. Also, I am curgency skeptical of his bearish claims. I never did develop a real interest in macroeconomics topics though I got a degree in economics, probably due to the concepts were quite far away from my twenty-something mind and life.

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

The topic is pretty deep, but even with no formal background in rickarvs like methe book is readable and the author does a good job of explaining the issues. Retrieved from ” https: The book itself ” Trading partners retaliate with their own devaluations. Because it was the existence of a corporate income tax that made the banks too big to fail. In the beginning of civilization returns to investment are high e.


I’d never have guessed that the notion of highly variable market-driven exchange rates is a relatively modern notion. Apr 12, Johns rated it it rickardw amazing. According to complexity theory, every increase in scale causes a much greater increase in risk.

It sounds a bit over the top, but entertaining and even fascinating enough to make you want to continue. I tend to agree with his thesis, b James Rickard is great and easy to understand.

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. This was a fascinating book. A second round of reading after some thorough study on the gold standard would most definitely be helpful. Because I spend much of my time building complex software systems and grappling with complexity in general, I found the discussion captivating both in its applicable to money and in general.

But how has this happened? All articles with dead external links Articles with dead external links from June Webarchive template wayback links Pages to import images to Wikidata Articles containing simplified Chinese-language text Articles containing traditional Chinese-language text All articles with unsourced statements Articles with unsourced statements from July Articles containing Chinese-language text.

From Wikipedia, the free encyclopedia. Distribution of events in complex systems is described by the power law. He roots his arguments in recent developments in complexity theory, which seem to indicate that current policymakers vastly underestimate the risk of a systemic collapse. Jan 30, John Martindale rated it it was amazing Shelves: I’ve never thought much about our financial system. Trivia About Currency Wars: According to the book, the western countries in general and the US in particular are controlled by a clique of international bankers, which use currency manipulation hence the title to gain wealth by first loaning money in USD to developing nations and then shorting their currency.

Its solutions present hidden new dangers while resolving none of the current dilemmas. The author did a good job of explaining the history and politics of currency wars, and yes, there are always nationalistic politics involved. Yet Rickards thinks this is a great first step for the Pentagon in understanding the financial weapons of the modern world. This is the first book on economics I’ve read in a long while and it really sparked my interest again.


The Rothschild family’s wealth is times the Bill Gates’ wealth.

As Nicholas Shaxson writes in his book Treasure Islands: Rickards provides an historical overview, drawing important lessons and debunking some myths from the gold standard era, two previous currency war eras post Rlckards andand the recent rise of the G20, globalization and state capital.

At times, it can be dry and complicate day the same time. From WWI tothis book covers, in chronological order, various financial recessions and crisis Currency Wars discusses the emergence of a new frontier in the theatre of modern warfare that is often underestimated by the world governments.

Currency War, Then Trade War — Is Shooting War Next?

At best, they offer the sorry spectacle of countries’ stealing growth from their trading partners. Oct 20, Sukriti Aggarwal rated it really liked it. He loaded up on default swaps against subprime loans 2 years early before making huge returns. In the first war Britain, France and the US ripped up the rules of the International Gold Exchange Standard and tried to gain an advantage by devaluing their currencies for export advantage; in the second conflict, the US Dollar came under speculative attack during the Vietnam War as the Fed printed more paper money far beyond its gold liabilities to creditor nations.

He favors a return in some form to a gold s This is a really good book – but not a particularly “fun” read. My thesis is that currency wars are followed by trade wars and then finally shooting wars among major powers.

While the Fed policies of quantitative easing raise fears of inflation at home, this means world wide inflation–a policy that will lead not only to resentment, but countermeasures that will lead to greater conflict.