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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I do have more understanding of currecny 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. Dec 19, Kyle rated it it was ok.

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

Dec 29, Robert Kroese rated it it was amazing. See 2 questions about Currency Wars…. We are in the midst of a full scale currency war that, if perpetuated, can only lead to catastrophe. Next time, however, it really will be different … [and] will not be stopped by governments, because it will be larger than governments.

However, he finds the author, by that time the structured finance department manager of Hong Yuan securities, [25] lacks financial expertise to be qualified to prescribe China with future directions. When Rickards is addresses the specific issues of monetary policy, both in term I received this book for free in a Goodreads First Reads giveaway. Is this book still relevant in ? His investors hated him and wanted to pull out – “Being too early is the same as being wrong.

Because I spend much of my time building complex software systems and grappling with complexity in general, I found the discussion captivating both in its applicable to money and in general. Rickards wras an interesting guy. First, the PBOC has to print as many yuans as the Fed prints dollars to maintain the pegged exchange rate. I personally feel it is still relevant to …more This book focuses on the history of money, its curreency, and hints a lot on the impending fall of money.


Greater than any single threat is the very real danger of the collapse of the dollar itself.

Crisply written with just the right level of theory to prove points without dragging the reader into detailed James Rickards has combined a thought provoking mix of history, economics, current events, and his own experience to produce a fascinating and thought provoking book.

May 21, Clement Ting rated it liked it. Nov 10, Pages Buy. World of Gold Privilege Chinese: Currency wars are one of the most destructive and feared outcomes in international economics.

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Distribution of events in complex systems is described by the power law. This audacious and miscalculated prediction perhaps makes him cringe now, though his subsequent books suggest otherwise.

But aars is less excess capacity in China to absorb the surplus without causing inflation than in the US. Want to Read saving….

Today we are engaged in a new currency war, and this time the consequences will be far worse than those that confronted Nixon. While the outcome of the new currency war is not yet certain, some version of the worst-case scenario is almost inevitable if U. The Fed’s gamble on QEs seems to have worked out fine and the world might have dodged the bullet so farbut who knows when that last snowflake going to fall and trigger the avalanche.

Currency Wars: The Making of the Next Global Crisis

Apr 12, Johns rated it it was amazing. This book is frankly terrifying. Rickards is the editor of Strategic Intelligence.

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Currency War, Then Trade War — Is Shooting War Next?

The worst is as an individual there isn’t much one can do. At worst, they degenerate into sequential bouts of inflation, recession, retaliation, and sometimes actual violence. Increasing the riskiness of this bet is that each national economy is starting from a relatively different position of strength.

There’s an apocalyptic “China is here to get us!! Think this is far-fetched? I can’t really form an opinion about the veracity of anything Rickards says, which aims at the big flaw here: While the Fed policies of quantitative easing raise fears of inflation at home, this means world wide inflation–a policy that will lead not only to resentment, but countermeasures that will lead to greater conflict.


Sep 25, Beth rated it it was amazing. Complexity Theory Rickards contribution. From WWI tothis book covers, in chronological order, cureency financial recessions and crisis including, but not limited to, the great depression and market crash. The author is a strong supporter of gold-backed monetary systems and desperately wants to return to some variant of it.

Readers can skip or skim rickaards to no ill effect. Overall it is a good read and is recommended to all. Financial High Frontier Chinese: As a third example, Rickards attempts to refute Keynesian economics by borrowing from Taylor and Cogan’s study of the Obama Administration’s Stimulus Package having a net negative modifier effect.

This is why every time he announces another round of quantitative easing, he signals the Fed’s intentions. Several Chinese-American scholars also gave the first book negative reviews.

However, as the premise underlying this book is based on advantages gained by currency depreciation, I will illustrate here how a nation can gain an export advantage by devaluing its currency, taking the Pound GBP as an example.

While the outcome of the new currency war is not yet certain, some version of the worst-case scenario is almost inevitable if U. Sep 28, Matthew rated it really liked it Shelves: Sep 03, JR rated it liked rickardss.

This book uses the claim [ citation needed ] that the Federal Reserve is a private body to support its role. You must read this book.