Currency Wars

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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 Today we are engaged in a new currency war, and this time the consequences will be far worse than those that confronted Nixon.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 have happened before twice in the last century alone and they always end badly Time and again, paper currencies have collapsed, assets have been frozen, gold has been confiscated, and capital controls have been imposed And the next crash is overdue Recent headlines about the debasement of the dollar, bailouts in Greece and Ireland, and Chinese currency manipulation are all indicators of the growing conflict.As James Rickards argues in Currency Wars, this is 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.Baffling to many observers is the rank failure of economists to foresee or prevent the economic catastrophes of recent years Not only have their theories failed to prevent calamity, they are making the currency wars worse 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 Rickards untangles the web of failed paradigms, wishful thinking, and arrogance driving current public policy and points the way toward a informed and effective course of action. Best Download [ Currency Wars ] Author [ James Rickards ] – kino-fada.fr If you ve wondered about the secret to Currency Wars best selling success, here s a clue it s essentially a monetary version of Left Behind for apocalyptic end the fed types fearful of an IMF led New World Order 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 Apart from Rickards Twitter spat with Nouriel Roubini, I hav If you ve wondered about the secret to Currency Wars best selling success, here s a clue it s essentially a monetary version of Left Behind for apocalyptic end the fed types fearful of an IMF led New World Order 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 Apart from Rickards Twitter spat with Nouriel Roubini, I have yet to see a serious argument put forward against this book While I m hardly the person to offer a ...The author did a good job of explaining the history and politics of currency wars, and yes, there are always nationalistic politics involved 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 China is the major recipient of the inflation since they peg their currency, the RNB, to the US dollar The devaluation of the US dollar relative to other counties currencies makes US exports cost less and is The author did a good job of explaining the history and politics of currency wars, and yes, there are always nationalistic politics involved 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 China is the major recipient of the inflation since they peg their currency, the RNB, to the US dollar T...This is a really good book but not a particularly fun read The topic is pretty deep, but even with no formal background in economics like me , the book is readable and the author does a good job of explaining the issues The basic proposition is quite scary that currency manipulation can be used as an effective mechanism to destroy an economy Given the fragility of the US economy debt being held by China, others , this isthan plausible He favors a return in some form to a gold s This is a really good book but not a particularly fun read The topic is pretty deep, but even with no formal background in economics like me , the book is readable and the author does a good job of explaining the..., ,30 40Rickards frames his book with an anecdote about his participation in a pentagon war game designed to simulate financial markets The war game, like the book as a whole, disintegrates from promising to insubstantial The participants in the war game are portrayed as largely clueless, the rules and outcomes appear arbitrary 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 Rickards frames his book with an anecdote about his participation in a pentagon war game designed to simulate financial markets The war game, like the book as a whole, disintegrates from promising to insubstantial The participants in the war game are portrayed as largely clueless, the rules and outcomes appear arbitrary 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 Yet Rickards thinks this is... .I received this book for free in a Goodreads First Reads giveaway.F Scott Fitzgerald once said The test of a first rate intelligence is the ability to hold two opposing ideas in mind at the same time and still retain the ability to function If that is the case, then James Rickards certainly has that intelligence, because his book is constantly at war with itself to the point that this reviewer cannot recommend it.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.F Scott Fitzgerald once said The test of a first rate intelligence is the ability to hold two opposing ideas in mind at the same time and still retain the ability to function If that is the case, ...This book is frankly terrifying.Rickards starts with a historical tour, highlighting the near catastrophic results of two previous currency wars the first of which led to the Great Depression and World War II, and the second of which led the malaise and stagflation of the 1970s In each case, governments desperate to bolster domestic employment vastly increased the supply of their currency by printing money or through other means in order to prop up exports In some cases this tactic worked This book is frankly terrifying.Rickards starts with a historical tour, highlighting the near catastrophic results of two previous currency wars the first of which led to the Great Depression and World War II, and the second of which led the malaise and stagflation of the 1970s In each case, governments desperate to bolster domestic employment vastly increased the supply of their currency by printing money or through other means in order to prop up exports In some cases this tactic worked to some degree over the short term, but over the long term it resulted in competitive currency devaluations with disastrous social and economic consequences.Delving into the current world financial situation, he explains how the Fed, the U.S Treasury and the IMF are responding to recessi...James Rickard is great and easy to understand I ve also watched some of his presentations at investor conferences I first read Death of Money and for some reason got interested in reading Currency Wars Based on what I remember from Death of Money, I did not need to read this book I think they are pretty much the same Also, I am growing skeptical of his bearish claims He was predictin... Currency Wars The Making of the Next Global Crisis is ostensibly that a book about currency wars But while much of the book does indeed focus on competitive devaluation, what Currency Wars really boils down to is...

Currency Wars
  • English
  • 13 January 2017
  • Hardcover
  • 304 pages
  • 1591844495
  • James Rickards
  • Currency Wars