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Currency Wars: The Making of the Next Global Crisis Hardcover – November 10, 2011
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—Mike Allen, Politico
“Let’s hope he’s wrong.”
“Rickards . . . has written one of the scariest books I’ve read this year. Though I was tempted at first to dismiss him as alarmist, his intelligent reasoning soon convinced me that we have more to fear than fear itself. Part history, part primer and analysis, the text covers topics ranging from the “misuse of economics” to complexity theory. The pieces, although disparate, fit together snugly, as in one of those mystery jigsaw puzzles that come with clues in lieu of cover art. The picture that emerges is dark yet comprehensive and satisfying.”
“Unsettling . . . fascinating . . . a thorough analysis of how nations have manipulated their currencies . . . with disastrous consequences.”
—Fort Worth Star-Telegram
“Buy Currency Wars if you want to learn the history and language of the global currency markets and the political economy which they support.”
—Chris Whalen, Ritholtz.com
“Jim Rickards highlights dangerous dynamics between national security and the international financial markets. What we assumed was firm ground under our feet is more like the narrowing point of a precipice. Our politicians, national security experts, and financial markets, each chasing carrots dangling in front of them, fail to see that they are leading America right off the edge.”
—Charles A. Duelfer, former special adviser to the director of the CIA; author of Hide and Seek: The Search for Truth in Iraq
“Put on your flak vest and helmet and enter the dangerous battlefield of global finance. Jim Rickards takes you through a captivating roller-coaster ride—the past, the present, and a look at the problematical future of our ongoing currency wars.”
—Rear Admiral (Ret.) Stephen H. Baker, chief of staff, Fifth Fleet; recipient, Distinguished Service Medal
About the Author
Top Customer Reviews
The main theme of the book is that the world is already heading toward a full-blown currency war which will bring even harsher economic turmoil to the world economy than the one we experienced in the last three years since the housing bubble burst in the U.S.
Rickards explores in depth, basing his arguments on past currency wars such as the one after WW1 between several European countries and the U.S., and why currency wars are a lose-lose situation. In short, Rickards's main argument is that countries around the world are devaluing their currencies in order to boost their exports (domestically produced goods and services will be cheaper for foreigners) thereby increasing their GDP. However, such actions will frequently be met by mutual currency devaluation by other countries or by some protectionist policy such as tariffs. Therefore, countries will gain a temporary advantage until other countries retaliate, the end result of which will be: inflation brought on from currency devaluation, protectionism and the halt of free trade, thus - wealth destruction. And in a worst case scenario, an outright military conflict.
As was mentioned above, I found Rickards's thesis to be well argued and backed with plenty of historical facts. To sum up, this book just has it all, great and engaging writing, fascinating economic history, and shrewd analysis of the current and coming global crisis.
Unlike the financial meltdown of '08, this time you can say you've been warned. Extremely timely, and yet ahead of its time, "Currency Wars" is a revelation. The Media and politicians are so far behind the curve on this story that once they start giving it some weight it will already be too late to save yourself financially. You must read this book now!
Most Recent Customer Reviews
A bunch of dudes ball up wads of money and throw it at each other, called it a currency war or somethingPublished 3 days ago by Amazon Customer
The writer does a good job of describing how nations use monetary policy to conduct war, in a non traditional sense of the word. Read morePublished 4 days ago by Amazon Customer
The author has written a thorough, and disturbing, book about the repetitive follies and unforced errors made by virtually every nation as they attempt to hide the true costs of... Read morePublished 18 days ago by Bruce C. Ross
A wealth of insight and knowledge not to be ignored as we tumble toward destruction in our financial arena. A world class study not to be ignored.Published 24 days ago by Anchor4
This is an analysis of Obama QE from a viewpoint of currency wars, whereas the real motivation is redistribution of income and wealth. Read morePublished 27 days ago by Gderf
A must read to understand todays financial chaos in the markets. James Rickards knows his material and expertly displays it in the book. Read morePublished 1 month ago by ComragCommy
A must read for anyone who knows the importance of economics as it ties to the geo-political arena. Wars can be won without firing a shot from a weapon.Published 1 month ago by Amazon Customer
Need to consider in terms of current situation; definitely promotes original thinking.Published 1 month ago by cat57