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THE DEATH OF MONEY by James Rickards

Penguin/Portfolio (April 8, 2014)

buy_books_deathThe international monetary system has collapsed three times in the past hundred years, in 1914, 1939 and 1971. Each collapse was followed by a period of tumult: war, civil unrest, or significant damage to the stability of the global economy.

Now James Rickards, the acclaimed author of Currency Wars, shows why another collapse is rapidly approaching and why this time, nothing less than the institution of money itself is at risk. The author shows how everyday citizens who save and invest have become guinea pigs in the central bankers’ laboratory.

The world’s major financial players, national governments, big banks, multilateral institutions, will always muddle through by patching together new rules of the game. The real victims of the next crisis will be small investors who assumed that what worked for decades will keep working.

Fortunately, it’s not too late to prepare for the coming death of money. Rickards explains the power of converting unreliable money into real wealth: gold, land, fine art, and other long-­‐term stores of value. As he writes, “Only nations and individuals who make provision today will survive the maelstrom to come.”

CURRENCY WARS by James Rickards

buy_books_currencyPenguin/Portfolio (November 10, 2011)

  • Currency Wars asks the most important economic question in the world today – is the response to the current economic crisis setting the stage for the next one? Author James Rickards argues that the answer is yes.
  • In an attempt to resuscitate a flagging economy and contain the fallout of the financial crisis of 2008, the U.S. has piled on enormous amounts of debt and is printing money on a massive scale.
  • U.S. actions in response to the financial crisis have sparked a new currency war, the consequences of which may be devastating not only for America’s economy, but for its national security as well.
  • Currency wars are nothing new, the world has experienced two in the last century alone. Currency wars happen when nations devalue their currencies by printing money and using other monetary tactics to artificially boost exports. The problem is that not all countries can devalue at once, and the result is an “every man for himself” currency war that risks morphing into a trade war and, in extreme cases, a shooting war.
  • It is a threat that defense planners are taking seriously. Currency Wars takes readers behind closed doors at a top-secret weapons laboratory where Rickards provides a first-hand account of the Pentagon’s first-ever financial war game.
  • Currency Wars sounds the alarm for the coming crisis and points the way towards a more informed and effective course of action.

 

Recent Reviews…

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"...a fast-paced an apocalyptic look at the financial future, taking in financiers' greed, central banks' incompetence and impending Armageddon for the dollar."

"Rickards has latched on to genuine and interesting issues..."

"His aside on why US student loans could be the new subprime mortgages bears more attention from markets - and his summary of the credit problems in China is handy for those who have not been following closely."

"Rickards may be right that 'the system is going wobbly." - JAMES MACKINTOSH, The Financial Times.

"A terrifically interesting and useful book... Fascinating." KENNETH W. DAM former deputy secretary of the Treasury and adviser to three presidents.

"The Death of Money contains very big, provocative ideas clearly explained and delivered in an evenhanded tone that steers away from the sensational proclamation yet successfully undercuts conventional market wisdom. Rickard’s insight enables him to connect the dots in a way that few others can. A worthy successor to Currency Wars.” - JOHN HATHAWAY portfolio manager, Tocqueville Gold Fund.

“Jim Rickards is a natural teacher. Any serious student of financial crises and their root causes needs to read this book.”  −JOHN H. MAKIN, Ph.D. resident scholar, American Enterprise Institute; former chief economist, Caxton Associates.