Vandal's Crown (Hardcover)

~ (Author)

Editorial Reviews

From Library Journal

The 1990s have been the most turbulent years in the history of international finance. A war is going on, says Millman, a "secret revolution" of the currency markets that is akin to the discovery of nuclear power. The invention of currency options and derivatives has allowed currency traders to conquer world markets "like the vandals who conquered Rome's empire." Millman, who has written for Forbes and Barron's, endeavors to explain complex concepts in plain language. First he surveys the long struggle between governments and private markets to control money. Then he explains how corporations trade currencies and the risks involved. He also tells dozens of colorful anecdotes that illustrate his points more vividly than a textbook ever could. This is a history lesson, a finance class, and an entertaining read rolled up in one. Recommended for business collections.?Kris Swank, American Graduate Sch. of Internat. Management Lib., Glendale, Ariz.
Copyright 1995 Reed Business Information, Inc.

From Booklist

Millman is a writer who has covered the financial markets for eight years for such publications as Forbes, Barron's, and Institutional Investor. His interest here is in two new investment tools that have created convulsions in the worldwide financial community: foreign exchange currency trades and derivatives. Both techniques are quite sophisticated and little understood even by government watchdogs and major financial corporations, but Millman does his best to make this story accessible to the general reader. The bulk of his book focuses on the European currency exchange-rate mechanism. He provides a history of how the competing forces of government and financial interests led to the monetary system that was brought down during the European currency crisis of September 1992 by speculators like George Soros, who made $2 billion in one day. Millman also profiles speculators who have engaged in high-risk transactions using financial derivatives but whose activities never came to light until they had suffered huge losses. David Rouse

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Product Details

• Hardcover: 305 pages
• Publisher: Free Press (February 1, 1995)
• Language: English
• ISBN-10: 0029212871
• ISBN-13: 978-0029212875
• Product Dimensions: 9.9 x 6.7 x 1.2 inches
• Shipping Weight: 1.2 pounds
• Average Customer Review: 4.6 out of 5 stars  See all reviews (9 customer reviews)
• Amazon.com Sales Rank: #889,658 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

5 of 5 people found the following review helpful:

5.0 out of 5 stars History of how money came to rule us, May 22, 2000

By	Professor Joseph L. McCauley "Joseph L. McCauley" (Austria+Texas) - See all my reviews

Fantastic book, clearly written. A history of the systematic shift in power from governments to asset markets, especially in the Reagonomics era (which includes the 1990's). A 'must', along with "Inventing Money" and "Wall Street Capitalism", for those who want to understand the financial system and it's consequences.

4 of 4 people found the following review helpful:

5.0 out of 5 stars A review of this Great Book., August 10, 2001

By	MARIA (Dubai, United Arab Emirates) - See all my reviews

This review is from: Vandals' Crown: How Rebel Currency Traders Overthrew the World's Central Banks (Audio Cassette)

This book, although presenting complex concepts, is easy to understand through is storytelling type narrative. It talks very in an engaging and human manner of topics and concepts and written otherwise be considered too esoteric for the layman. This book is good if your interested in finance and trading, as well as the new financial weapons of traders that are (really) more powerful than politicians could ever be. I am probably biased, but the book is so good. It is even relevant today, even years after it was written. The book's analysis of past events, such as the reasons for the rocketing jump in Treasury bond yields in 1994 or the reasons behind the crash of the ERM are excellent.

3 of 3 people found the following review helpful:

5.0 out of 5 stars Well Worth Reading., August 26, 2004

By	B. A. Trust Account "FX Trader" (SLC, UT) - See all my reviews

Read this well documented book if you are a currency trader and you want to learn a well researched history of currency markets. You'll have a better understanding of "behind closed doors" government intervention and what to watch for on the news. A little difficult to read at times due to its depth, but well worth it for the fundmental knowledge gained.