After reading this book, I understand what QE 1, 2 and 3 are: ways for the US to export inflation to China (and others) by devaluing the US dollar. Apart from Rickards’ Twitter spat with Nouriel Roubini, I have yet to see a serious argument put forward against this book. Maybe It could help if you have the basic of currency. I would suggest that you take this as a first step in understanding the concepts of money, devaluation, GDP, inflation/deflation etc and then move on to more in-depth reading on each of them. Rickards, James. This did not take care of the issues: Cycles of currency devaluations went from nation to nation. He highlights the fact that the Fed is currently undertaking the biggest financial gamble in history. When the dollar collapses, the dollar-denominated markets will collapse, too. World countries soon looked for a return to the gold standard they relinquished amid the war. . Based on what I remember from Death of Money, I did not need to read this book. Thorough and well written. The book was published in 2011 and the author's predictions have not come true. That is my own failing and not that of the author's, who did a great job of laying out what a currency war is, how previous currency wars have played out, and what is happening with the current one. or to any member of the Federal Reserve System all gold coin, gold bullion and gold certificates now owned by them.... Whoever willfully violates any provision of this Executive Order . . Today we are engaged in a new currency war, and this time the consequences will be far worse Currency Wars: The Making of the Next Global Crisis those that confronted Nixon. In 1971, President Nixon 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.S. dollar. In it, he argued that currency wars are not just an economic or monetary concern but a national security concern. "The path of the dollar is unsustainable and therefore the dollar will not be sustained." Can the dollar survive as a fiat currency or will it have to be backed by a commodity once again? I've never thought much about our financial system. How does QE export inflation from the US to China and cripple Brazil’s export market? It's a complicated issue and I find it difficult to follow all the players and how things have evolved over time, but I think Jim Rickards does a good job explaining the history, the various economic theories that have been used, the flaws in the system, and where we might be headed. I personally feel it is still relevant to 2017. Time and again, paper currencies have collapsed, assets have been frozen, gold has been confiscated, and capital controls have been imposed. This book is more like a history lesson for around 50% of its pages. Why has the Federal Reserve failed on every level since 1913? Currency War III (2010 –). With Europe? The book gives you a brief history of the role of currency, and goes into how people wage war by using the ups and downs of the valuation of a certain currency of a country. He was predicting the same dire consequences in 2010, that he does in Death of Money. If you are keeping up with the news about the falling rouble, devaluation in Venezuela, and how the Chinese are stocking up on gold, then this will be a very interesting read for you. Against this background, FDR issued Executive Order 6102 on April 5, 1933, one of the most extraordinary executive orders in U.S. history. 3. Like this summary? Can the dollar survive as a fiat currency or will it have to be backed by a commodity once again? Reading this book felt a lot like watching the movie 2012, after the year 2012. I think they are pretty much the same. The participants in the war game are portrayed as largely clueless, the rules and outcomes appear arbitrary. Corporatocracy: Good, Bad, Truth, Fiction, Bill Gates Picks 5 Good Books for a Lousy Year. Buy Currency Wars: The Making of the Next Global Crisis xxx edition () by James Rickards for up to 90% off at Textbooks.com. Refresh and try again. It is one of the finest books to understand currency wars ;its evolution , impact ,past etc . The debasement of the dollar, bailouts in Greece and Ireland and Chinese currency manipulation are treated as indicative of a new and destructive threat, which could lead to a crisis worse than the panic of 2008 Although he rails against debt and profligacy, he seems to be really on board with this weekend pentagon circle-jerk which the author can't seem to describe any concrete benefit to. I can't decide whether Rickards is sworn to secrecy on the details, whether he is just a poor story-teller, or whether the group of paid consultants participating in, and the government employees designing the exercise blew hundreds of thousands of my tax dollars on what amounts to a buffet-style fellatio conference. The fact that a currency collapse has not happened in a generation just implies that the next crash is overdue. Maybe It could help if you have the basic of currency. Apparently, this war’s stakes are substantially higher since the geographic outcomes go past particular trade issues to the core of the global fiscal framework. The author advocates a proactive role for the IMF and revival of a refined version of the dormant SDR to prevent the currency war from assuming insurmountable proportion. The basic proposition is quite scary - that currency manipulation can be used as an effective mechanism to destroy an economy. This was a tough book for me, as I really didn't understand so much of it. The war game, like the book as a whole, disintegrates from promising to insubstantial. However, I would recommend you to be wary of lawyers who actually write such books. Also, I am growing skeptical of his bearish claims. Based on what I remember from Death of Money, I did not need to read this book. Is this book still relevant in 2017? I first read "Death of Money" and for some reason got interested in reading "Currency Wars." #BLACKFRIDAY 12min - Get your career back on track! That’s less a reflection on the tone of James Rickards’ writing—though somewhat alarmist, he’s a lawyer and finance professional, not a Tim LaHaye-like rapture peddler—than the worldviews his book will be used to support. How might enemy nations bring down the dollar? The first page itself shows how outdated the book is. Left unchecked, the next currency war could lead to a crisis worse than the panic of 2008. 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