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Jim Rickards
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I am a seasoned counselor, investment banker and risk manager with over thirty years experience in capital markets including all aspects of portfolio management, risk management, product structure, financing, regulation and operations. I'm also the best-selling author of Currency Wars: The... More
My company:
Tangent Capital Partners, LLC
My blog:
Rickards Finance Blog
My book:
Currency Wars: The Making of the Next Global Crisis
  • Currency Wars: The Making of the Next Global Crisis 0 comments
    Nov 3, 2011 11:59 AM
    Currency Wars: The Making of the Next Global Crisis will be published on November 10, 2011 by Portfolio, an imprint of Penguin.

    Quick Summary:

    Currency wars are one of the most destructive and feared outcomes in international economics. At best, they offer the sorry spectacle of countries’ stealing growth from their trading partners. At worst, they degenerate into sequential bouts of inflation, recession, retaliation, and sometimes actual violence. Left unchecked, the next currency war could lead to a crisis worse than the panic of 2008.

    Currency Wars are more than just a concern for economists and investors. The United States is facing serious threats to its national security, from clandestine gold purchases by China to the hidden agendas of sovereign wealth funds. Greater than any single threat is the very real danger of the collapse of the dollar itself. The U. S. Federal Reserve has engaged in the greatest gamble in the history of finance, a sustained effort to stimulate the economy by printing money on a trillion-dollar scale. Its solutions present hidden new dangers while resolving none of the current dilemmas.

    While the outcome of the new currency war is not yet certain, some version of the worst-case scenario is almost inevitable if U.S. and world economic leaders fail to learn from the mistakes of their predecessors.


    Reviews

    “Rickards, experienced financial adviser, investment banker, and risk manager, tells us we are in a new currency war that could destroy faith in the U.S. dollar; he examines that war through the lens of economic policy, national security, and historical precedent. As a national security issue, he tells a fascinating story of his involvement with the Pentagon and other agencies in designing and participating in a war game using currencies and capital markets, instead of ships and planes, to gain early warning of attacks on the U.S. dollar. The author concludes that ‘mainstream economists and central bankers alike are well aware of dollar weakness and the risks to international monetary stability from the new currency wars.’ He sees four prospects for the dollar—multiple reserve currencies, special drawing rights, gold, and chaos. Rickards’ ideas are controversial and will attract support and criticism across many disciplines. Nevertheless, he presents a compelling case for his views and offers thought-provoking information for library patrons. This is a must-read book.” — Booklist

    "Though the book will no doubt interest policymakers, even non-experts will be rewarded for their efforts."  - Publishers Weekly, 10/24/2011

    A pioneer in the use of market intelligence for strategic purposes warns of the coming collapse of the dollar-based financial system...Intriguing thinking" - Kirkus Reviews

    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

    “A captivating, articulate, and thoughtful account of failed attempts by governments to create wealth by debasing their currencies. Currency Wars should be required reading for all policy makers, MBA students, and anyone concerned about the long-term stability and prosperity of Western democracies.” — Sorin Sorescu, professor of finance, Texas A&M University

     

     

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