From the best-selling author of Currency Wars and The Death of Money comes a short, provocative argument for the enduring value of gold.
James Rickards is the most visible, vocal, and intelligent proponent for the gold standard today, and his unwavering stance on gold's value has drawn him hordes of lifelong fans. In The New Case for Gold, Rickards explains why gold is one of the safest assets for investors in times of political instability and market volatility and how every investor should look to add gold to his or her portfolio. He draws on historical case studies, monetary theory, and personal experience as an investor to argue that gold should be a part of any prudent investor's portfolio. And he provides tools and mental models for how investors can make the case for gold to the skeptics in their lives. A must-listen for any fan of Ron Paul's End the Fed or Rickards' previous works.
©2016 James Rickards (P)2016 Penguin Audio
James Rickards does it again. I really enjoyed this book. What is unique about the audiobook is that it is actually narrated by Rickards himself. If you're like me, you could listen to this man speak for hours on end. While listening to this book, I often found myself wondering how one can become so well versed on matters ranging from physics to finance to history all in less than one human lifetime. Rickards is brilliant and, if you enjoyed his other books you'll enjoy this one.
One aspect of this book that I particularly enjoy is how Rickards takes subjects as daunting as complexity theory and international finance and discusses them in a manner that less astute individuals, such as myself, can comprehend seamlessly. I could not put this book down and finished in a couple sittings. Above all else, I value the education that Rickards provides in his book. He does it in a way that keeps me interested and entertained... hanging on his every word.
Gone to the dogs...
If you've read the last 2 books or listened to ANY of the many interviews given by Rickards, you will be fine.
First, I have to say that I enjoyed Mr. Rickards reading style and I applaud him for narrating his own book. I feel that he made a very compelling and clear argument for having physical gold as part of all investor's portfolios. My only issue with the case that he makes is that his ideas for actually storing gold are ludicrous. He suggests that you stay clear of bank storage of the physical gold and instead use a non-bank storage company (one that is insured - really? - come the end of the world I doubt insurance will be of much worth plus any insurance proceeds would be in worthless currency). He goes on to say that a vault in Texas is a good storage location as even if the roads are closed, it is only a motorcycle ride away from most of the country (I am not making that up, he actually writes that). What he doesn't address is the fact that if the country recedes into that level of chaos, why on earth wouldn't the private storage company employees merely seize the gold themselves? Even if the private storage employees don't seize the gold, how in the heck am I, as middle aged man, going to ride a motorcycle from Michigan to Texas? (I don't even like to fly coach). Also (not surprisingly) I don't own a motorcycle and I am not sure where in Bloomfield Hills I could even buy a motorcycle. Plus with all of my gold in Texas, even if I found a motorcycle (say in Livonia), how would I even pay for it?
I suggest that Mr. Rickards rewrites the 'end of the world' scenario and addresses the storage issue practically. By practically, I mean in a world that has not slipped into anarchy, but has fallen into rates of 10% to 20% inflation (I totally agree with him that the only way to pay off the national debt is to have the it paid off with inflated dollars).
James really made it clear in how important golds role is in our preservation of wealth. Take a chance on this book and learn the right way to invest.
Jim Rickards gives a brilliant explanation of Gold's role as money in the past, present, and future in the world economy. This book builds on Jim's prescient works, Currency Wars and Death of Money, and ties those narratives into what will be Gold's role as a medium of exchange and a store of value now and in the future.
Two parts stand out. The first was Jim's reference to an interview done by a chemist in which the chemist went through the periodic table of elements and explained why, above all other elements, Gold was a superior choice to act as money.
Second. Jim explained how the current deflationary morass brought on by excessive debt, technology, aging demographics, and deleveraging will be met with the typical monetary policy response of printing more money.
Highly recommended. And Jim does a great job of narrating.
I really enjoyed how Jim explains the different scenarios in which he puts forward the case for gold. He doesn't use scare tactics but data and history to his points. Truly a good listen for a new gold bug.
As a graduate student in financial economics, this book will give you the historical and empirical insight into gold that the major universities leave out of their finance curricula. The contents of this book are invaluable to any investor who looks at financial markets through an objective lens.
I'm a fan of James Rickards' presentations, podcasts, and previous works. This was a concise, informative macro analysis of the gold market. The author suggests a small allocation of gold in every investor portfolio; likewise this reader recommends a little bit of James Rickards for every investor library.
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