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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Currency wars have happened before-twice in the last century alone-and they always end badly.

Currency Wars: The Making of the Next Global Crisis by James Rickards

From Rickardz, the free encyclopedia. Business and economics portal Books portal. However, he finds the author, by that time the structured finance department manager of Hong Yuan securities, [25] lacks financial expertise rickadds be qualified to prescribe China with future directions. Rickards sees a wholesale collapse of the dollar — and, by extension, the global financial system — looming ahead.

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.

He favors a return in some form to a gold s This is a really good book – but not a particularly “fun” read. The logic is simple and the battle lines are drawn when you consider the effect and purpose of QE: He is a portfolio manager at the West Shore Group and an adviser on international economics and financial threats to the Department of… More about James Rickards.

It also claims that the Rothschild Family has the gickards of 5 trillion dollars whereas Bill Gates only has 40 billion dollars. In another case, Richards notes that the highly inflationary policies of the Fed are destroying the value ricoards the dollar while advocating significantly reduced tax rates.

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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. Trading partners retaliate with their own devaluations. He proposes some common sense reforms to forestall that collapse: Stay in Touch Sign up. Any populist left-wing party could ricoards up in national elections during a recession with the simple promise to revert to devaluation when rlckards are hard.

It is like the hedge fund manager from the Big Short Michael Lewis.

Please try again later. Direct support programs like food stamps provided a significant positive multiplier benefit to the economy while the significantly negative effects rickarde caused by the tax cuts in the package.

The author responded to these comment by saying “While many scholars have voiced their objections to this book, they are aimed at the details of the book, not its logic or structure. There’s a lot of fluff in the middle before he consolidates his arguments for a gold backed dollar in the final chapter, or even better – gold coins.

However, when Rickards broadens his scope to other policy issues, things fall apart. Currency wars have happened before-twice in the last century alone-and they always end badly. And the next crash is overdue. This new trade war will get ugly fast and the world economy will be collateral damage. I learned from it the relatively immaturity of our particular form of currency, for example. Lessons abound in thinking of who fared better than whom in that era; debtors, and owners of businesses, real property, and foreign assets far outpaced people on a fixed income or with simple savings accounts.

Why has the Federal Reserve failed on every level since ? Not only is the world not better off but it is worse off because of the costs and uncertainty resulting from the currency manipulations. Trivia About Currency Wars: 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. That would be a massive drain on the US Treasury.

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What is at risk in our fiscal relationship with China? Nov 20, Jeffrey rated it it was ok Shelves: It leads to several consequences. United States by individuals, partnerships, associations and corporations Download our Spring Fiction Sampler Now.

Currency Wars

The second is to cheapen their currency to offset the impact of the tariffs. After reading this book, I understand what QE 1, 2 and 3 are: If you want to map out the future, you need to study the past.

The opening line reads in part: This is a really good book – but not a particularly “fun” read. Take with an enormous grain of salt. Song also is of the opinion that the famous U. It lacks the focus to give you a good grip on any of the related topics covered, but it does have a certain appeal as a survey.

He is an American lawyer, economist, rickardw investment banker with 35 years of experience working in capital markets on Wall Street. The Rothschild family’s wealth is times the Bill Wxrs wealth.

Many already familiar with how the Federal Reserve rckards, with deficit spending, and a general knowledge of stocks and bonds may not be fa This book is the blueprint to current events. But none of these concerns compare to the ineptitude of the Federal Reserve Bank of New York, which has constantly failed on price stability, unemployment and regulation.

James Rickard is great and easy to understand. The cognitive rickads is astounding. Its solutions present hidden new dangers while resolving none of the current dilemmas. It sounds a bit over the top, but entertaining and even fascinating enough to make you want to continue. And that’s pretty much enough to say about it.