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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Increasing the riskiness of this bet is that each national economy is starting from a relatively different position of strength. Likewise, a huge trade deficit and government bailout of the banking system left the state with no money; therefore, government spending and investment were out of the equation.
S Pentagon, and even his legal acumen. In fact it has a dramatic flair that even exceeds the movie. The book looks back at history and argues that fiat currency itself is a conspiracy; it sees in the abolition of representative currency and the installment of fiat currency a wara between the “banking clique” and the governments of the western nations, ending in the victory of the former.
The book has been criticized for promoting antisemitic conspiracy theories.
Currency War, Then Trade War — Is Shooting War Next? – The Daily Reckoning
These relative differences mean not all trading partners will share the currency and its resultant trade re-balancing equally. He even goes so far to suggest, an all out physical war could erupt among international blocks of trading partners to physically re-balance trade. He believes that if China can not be dominant jmi this system, it should not participate, but should be self-hill, have their own sphere of financial influence.
Savers lose, speculators stand to win in our world of government-controlled currency. It’s educating but tedious after a point. The classical gold standard. Take with an enormous grain of salt. I would never have achieved the level of success that I have without my team.
The participants in the war game are portrayed as largely clueless, the rules and outcomes appear arbitrary. Time and again, paper currencies have collapsed, assets have been frozen, gold has been confiscated, and capital controls have been imposed. Whoever willfully violates any provision of this Executive Order.
Also, I am growing skeptical of his bearish claims. The threat presented by a collapse of the dollar is both clear and present and the potential outcomes are disturbing. The book has achieved bestseller status in China. I like his vision of how the collapse of the dollar may finally happen but I think holding any optimism for diverting that disaster is naive. Just because trade wars have started does not mean the currency wars are over.
Currency War, Then Trade War — Is Shooting War Next?
Shorts are not subtracted from longs — they are added together. Is the material outdated? I want to develop the conceptual thinking about the currency.
At times, it can be dry and complicate day the same time. He derives a conclusion that is sound and well worth doing by our central bankers and US Treasury officials. What is at risk in our fiscal relationship with China?
Currency Wars: The Making of the Next Global Crisis by James Rickards
Rickards is a well trained and experienced, commentator on economics, geopolitics and finance. The bigger the scale, the more catastrophic the events. I’d never have guessed that the notion of highly variable market-driven exchange rates is a relatively modern notion.
Absent a change in our current ludicrous direction, the rocks of chaos and sure destruction loom just ahead. He was predicting the same dire consequences inthat he does in Death of Money.
Given the fragility of the US economy debt being held by China, othersthis is more than plausible.
The devaluation of the US dollar relative to currencj counties’ currencies makes US exports cost less and is intended to spur US economic growth at the expense of its trading partners. 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. Not only have their theories failed to prevent calamity, they are making the currency wars worse.
Dec 29, Robert Kroese rated it it was amazing. Oct 21, John rated it it was amazing Shelves: