Currency Wars

The Making of the Next Global Crises

By: James Rickards

Narrated by: Walter Dixon

Length: 9 hrs and 52 mins

Publisher's summary

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 more 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.

©2011 James Rickards (P)2011 Gildan Media Corp

Critic reviews

"[Rickards] presents a compelling case for his views and offers thought-provoking information for library patrons. This is a must-read book." ( Booklist)

Very informative & educational

What made the experience of listening to Currency Wars the most enjoyable?

Historical & Economic content was superb.

What other book might you compare Currency Wars to and why?

Endgame by John Mauldin

Which character – as performed by Walter Dixon – was your favorite?

N/A

If you could give Currency Wars a new subtitle, what would it be?

Understanding international monetary policy and the risks associated with unlimited money creation.

Any additional comments?

Book helped me achieve a higher level of understanding our current international monetary system and the interests of major player within.

Good book

I enjoyed it. I didn't like the first chapter, but after that, it was great. Thanks for the hard work.

Review

narrator was great, but had to take the book and small sections at a time.

A MUST READ

As a retail currency trader this book is AMAZING loved it. What he speaks about in this book I am literally able to see this play out on the charts. Fascinating stuff!

History of the Moneytary system in general

Excellent history of the subject an its impact on overall countries place in the world and relation of currency to wars in the country and the world in general. Excellent narration. Compared to other books I have read on the subject this one is the best.

IS A GREAT POINT OF VIEW ,FROM A PRO IN FINANCE

I WANT TO READ IT AGAIN ,IS A HISTORY BOOK AND HAVE CONCLUSIONS OF A PRO IN FINANCE.

Informative, if slightly biased

This book is an informative story of how our current economy and currency came to be. While slightly biased to a return to gold, and or Downsizing governmental powers, Currency wars is a great way to learn why and how the world removed gold as the main form of currency to the floated currency that we have today. It gives insights to how to much deflation or inflation can destroy an economy and how currency wars once started can cause horrible damage not just to the United States but to the world. It's a good read and overall gives my two thumbs up.

Good technical book on Currency

Very clear explanation on the role of currency in global politics and trade relationships. The narrator starts the book very poorly, but hang on, this is a good listen.

The Hidden Truth

Any additional comments?

This material will open your eyes. If you are not ready for the truth, DO NOT read! However, if YOU ARE read it.

Very Interesting

I thoroughly enjoyed this book. Of course, the message is nothing new but his solution to the problem is intriguing and very worth lconsideration.