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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)

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Great book!

Good read! He makes many good points and possible solutions on the problems we face.

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Awesome a must read

Would you listen to Currency Wars again? Why?

Great audiobook. Scary to think how world currency's are manipulated. James Rickards is brilliant the way he tells how it is.

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wonderfull

the performance is very good and the book itself is perfect for the time where we live.
i will jump into the more understand of problems and theories discussed in the book: complex systems and finantial wars.

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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.

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Great Read. Very Insightful

Heavy on theory and application. Also wraps up with what the author thinks can be done to solve some the problems outlined. Some of the topics are over the heads of the average consumer, however the author does an excellent job of defining and explains these topics. Highly recommended reading.

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must read for all policy makers and citizens

The book provides a review of approaches towards monetary policy, a brief history of monetary policy and a look at the pros and cons of a currency backed buy some non Fiat standard. He also recommends a modern iteration of a gold standard that this reader previously considered impracticable but after having read currency wars believes some version all the gold standard such as the one proposed by the author is the necessary next basis for a global monetary system. The author also reviews threats, financial threats to the United States and global order via financial warfare from our enemies. The book shows the inherent weaknesses of the current monetary system and it is a necessary wake up call. I highly recommend

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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.

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  • Ashanti
  • Fort Lauderdale, Florida, United States
  • 01-17-15

A must read to understand what's coming!

To really get a good understanding how all of the financial markets are connected I advise you to listen more than once to this audio book. Lots of information. Fast pace..good narrator presentation.

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Gripping read about the future of US dollar

Any additional comments?

Thoroughly enjoyed this audiobook with numerous important facts about the US dollar and currency wars - a subject that is very hard to find info on.

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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.