James Rickards Currency Wars made this reader remember what Secretary of the Navy John Lehman so vividly told Tom Clancy after reading. Currency Wars by Song Hongbing, also known as The Currency War, is a bestseller in China, devaluation, see Currency war. For James G. Rickards’ Currency Wars: The Making of the Next Global Crisis, see James G. Rickards. In , President Nixon imposed national price controls and took the United States off the gold standard, an extreme measure intended to end an ongoing.

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And the next crash is overdue. I learned from it the relatively immaturity of our particular form of currency, for example. Why has the Federal Reserve failed on every level ricksrds ?

Currency Wars – Wikipedia

Every so often my curiosity is aroused at rickaeds 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. Also includes major section titled “Presidential Decree No. The idea of money being “stored energy” was also good.

Towards the end, he even advocates specific banking regulation to avoid a repeat of the crisis of while simultaneously advocating for smaller government. And so we all in for perilous times as our thoughtless Fed continues to devalue our dollar and ruin our economy.

If the changes are too big or too fast, the interwoven international trading system will be destabilized significantly or in the worst case totally collapse.

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

Left unchecked, the next currency war could lead to a crisis worse than the panic of Refresh and try again. But he takes a detour to describe in detail the two currency wars that happened in the last century and an imminent third one, and never really comes back to the simulation. Crisply written with just the right level of theory to prove points without dragging the reader into detailed economic formulas.


As James Rickards argues in Currency Warsthis is more than just a concern for economists and investors. While the Fed policies of quantitative easing raise fears of inflation at home, this means world wide inflation–a ccurrency that will lead not only to resentment, but countermeasures that will lead rickkards greater conflict. It also explained to me why we moved off the gold standard and the implications of a trust-backed currency.

Mar 27, Evan rated it liked it Shelves: The war game, like the book as a whole, disintegrates from promising to insubstantial. However, when Rickards broadens his scope to other policy issues, things fall apart. Readers in my shoes should not worry too much as the author however did try his best to give a good history course with some brief explanations on the gold standard.

Currency Wars

Archived from the rickadrs on August 30, Its solutions present hidden new dangers while resolving none of the current dilemmas. But Rickards sees an escape route for Beijing: To ask other readers questions about Currency Warsplease sign up.

I think he publishes a book like this every few years because the people who share his thesis will buy it and love it. The chapter on curfency and the new ways of measuring complexity and risk within a system were currencg interesting.

Currency wars are one of the most dest InPresident Wags 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.

Reading this book felt a lot like watching the movieafter the year 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.

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wzrs Song says the direct consequence was that the Federal Reserve lost its monopoly to control money. After all, how difficult is it to get the major industrial nations together to cut carbon emissions? Regardless, the general concept is good enough to really make you see with your own eyes or mind what to expect for the future of fiat money.


United States by individuals, partnerships, associations and corporations He proposes some common sense reforms to forestall that collapse: I do have more understanding of monetary issues, global conflicts, and our current state of indebtedness thanks to this book, so I would recommend it, despite my lack of ability to complete grasp all aspects covered.

The book is too short to do what it seems to want ricksrds do, and too long for what it actually does. Michelle Lia I started reading it and I think it could help a bit as if I am not mistaken it talks about currency depreciation. The second is to cheapen their currency to offset the impact of the tariffs. Regardless, the general conce It is unfortunate that I currfncy unable to fully comprehend the idea as I am not all too familiar with the gold standard.

At times, it can be dry and complicate day the same time. This was a fascinating topic, especially the bit where the author asserts that the US has been engaged in a program to inflate the value of the yuan indirectly by growing the dollar supply.

Remedial economics courses for everyone! By Robert Kiyosaki Posted December 22, Recent studies by John Taylor and John Cogan of Stanford University have shown that the multiplier is less than 1, which means that for every dollar of government spending the amount of goods rrickards services produced by the private sector declines. Retrieved from ” https: It’s not quite convincing, but interesting nevertheless.

Is this book still relevant in ? Nov 10, Pages. Aug 28, Pages. The classical gold standard. Of course, it won’t be.

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