The Death of Money

The Coming Collapse of the International Monetary System

By: James Rickards

Narrated by: Sean Pratt

Length: 13 hrs and 13 mins

Publisher's summary

The 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 American dollar has been the global reserve currency since the end of the Second World War. If the dollar fails, the entire international monetary system will fail with it. No other currency has the deep, liquid pools of assets needed to do the job.

Optimists have always said, in essence, that there’s nothing to worry about—that confidence in the dollar will never truly be shaken, no matter how high our national debt or how dysfunctional our government. But in the last few years, the risks have become too big to ignore. While Washington is gridlocked and unable to make progress on our long-term problems, our biggest economic competitors—China, Russia, and the oil producing nations of the Middle East—are doing everything possible to end U.S. monetary hegemony. The potential results: Financial warfare. Deflation. Hyperinflation. Market collapse. Chaos.

Rickards offers a bracing analysis of these and other threats to the dollar. The fundamental problem is that money and wealth have become more and more detached. Money is transitory and ephemeral, and it may soon be worthless if central bankers and politicians continue on their current path. But true wealth is permanent and tangible, and it has real value worldwide.

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: “The coming collapse of the dollar and the international monetary system is entirely foreseeable… Only nations and individuals who make provision today will survive the maelstrom to come.”

©2014 James Rickards (P)2014 Gildan Media LLC

Critic reviews

“A terrifically interesting and useful book . . . fascinating." (Kenneth W. Dam, Former Deputy Secretary of the Treasury and Adviser to three Presidents)

Deep

This book gives deep insight into how the machine of money functions and gives readers indicators to look for in judging the health of economies. I wish they taught me this in college.

Best book on the subject I’ve read!

This is so much more than just a book on international monetary system. It gives you the motivations and 2nd and 3rd order effects that the dollars’ drop would precipitate. An absolutely must read.

If you interested in current economics listen to this

The book is well read. If you are interested in economics of the times this book is very good

It provides a great deal of background information coupled with some history to make a strong case for 3 possible future outcomes and gives sound advice about how to prepare for each of them.

Painful Truth > Blissful Ignorance

Is there anything you would change about this book?

I would change the narration. What is covered in this book is sometimes tough to understand and can get boring. The narrator's tone was just tedious and I found myself needing to review sections I had tuned out of.

What was one of the most memorable moments of The Death of Money?

What is memorable is the basic premise; that our government and the governments of the prominent world powers work together to deceive their people while enriching those well-connected insiders. The value of our dollar currency isn't worth the paper it's printed on let alone whatever denomination is printed on it. Horrifying.

Who would you have cast as narrator instead of Sean Pratt?

Dream narrator: a talented man or woman capable of delivering dry content in an interesting and exciting (well, let's just say compelling) manner.

Did The Death of Money inspire you to do anything?

I am inspired to continue learning, hedging, shorting, buying assets, focusing on true money not currency, and having a bit more understanding about what is being broadcast by our internet and other media.

Any additional comments?

I would suggest reading other books on the subject so that you can come to your own conclusions about personal financial and living plans.
Remember the 5 "G's": Grub, Ground, Gold, Guns and God. Not necessarily in that order.
(This was not part of this particular book.)

Must read, and not for entertainment

Rickards should honestly be running the govt... If want the truth then read his book.

Very Informative!

In the beginning of the book it tells of a new kind of war for which most people haven't really realized yet, but are finally coming to understand. There are many ways of bringing down a country without ever firing a shot and I think that's something people need to understand because the majority when they think of a coming World War 3 think in terms of a shooting war. In today's era nations are employing many different strategies other than physical fire power. Overall it is very informative about monetary policy and the move towards a new monetary system that hides a lot of financial motives behind the scene. One big take away to keep an eye on going forward is the "SDR" which stands for "Special Drawing Rights" and it really means a new one world currency clothe in different words so people won't be scared or aware of it. The ending is good as well and if you can't make it through the first half at least listen to the second half of the book all the way to the end.

Enlightening entertaining and thought invoking

Author James Rikkards draw upon history and grasp of current events offers us a compelling view of events that will take place in the near future comparable to biblical prophecy

Great Information - Oversensationalized

Would you listen to The Death of Money again? Why?

Yes. There is a lot of information about how money works and how it affects international trade and money policy. This information takes a lot of thinking to understand and digest for a lay person like myself so multiple reads will be necessary to really get a firm grasp on all that was included in the book.

Any additional comments?

From the beginning I knew this book would have a bit of the "dooms day" tone. Luckily this was somewhat mild and the author did a pretty good job of focusing on the facts of how money works.

The main thing I got from the book is a high level "how money works" in today's international economy. It did a pretty good job bringing up and explaining topics, setting a foundation of knowledge so I now know what other books to look for to expand that knowledge. Some information went over my head and will take additional reading to clarify but I came away feeling like I got more than my money's worth in learning.

The author's final conclusion on what to do about where money is headed was included at the end which was much appreciated. However, his suggestions will likely only be helpful to the very wealthy. For example, buy undeveloped land so when the economy drops (as in a recession) you can develop that land cheaply. That isn't going to help people who either barely make ends meat (the majority of people) or who are just doing well to keep a modest savings for retirement.

So if you are looking for a formula to protect yourself from bad turns in the economy or the government screwing things up with bad monetary policy, and if you aren't wealthy, look elsewhere. But if you want a deeper understanding of how money works so you can more intelligently decide how to plan your finances for the future, this is an interesting read.

Great book, must read

What made the experience of listening to The Death of Money the most enjoyable?

Great book to read. very informative.

What did you like best about this story?

very detailed, and technical. so it is believable.

Doomsday-ish, but some good info

This book could be 4 stars if the title and some rhetoric were toned down. It masks otherwise interesting points and investment strategies.

It also gets pretty dry at points. I found myself skipping to the end of a chapter at times.