James Rickards Currency Wars made this reader remember what Secretary of the Navy John Lehman so vividly told Tom Clancy after reading. Currency Wars by Song Hongbing, also known as The Currency War, is a bestseller in China, devaluation, see Currency war. For James G. Rickards’ Currency Wars: The Making of the Next Global Crisis, see James G. Rickards. In , President Nixon imposed national price controls and took the United States off the gold standard, an extreme measure intended to end an ongoing.

Author: Malarisar Sacage
Country: Burundi
Language: English (Spanish)
Genre: Art
Published (Last): 9 January 2006
Pages: 404
PDF File Size: 14.68 Mb
ePub File Size: 12.14 Mb
ISBN: 893-5-64742-447-7
Downloads: 32038
Price: Free* [*Free Regsitration Required]
Uploader: Vobar

Today we are engaged in a new currency war, and this time the consequences will be far worse than those that confronted Nixon. From the Hardcover edition. Direct support programs like food stamps provided a significant positive multiplier benefit to the economy while the significantly negative effects were caused by the tax cuts in war package. As in every theory in economics, you can bet that experts differ.

Currency Wars

It discusses more specifically the modern Chinese History from Chiang Kai-shek to the depreciation in the long term trend of U. I personally feel it is still relevant to rickarcs Stay in Touch Sign up. About Currency Wars InPresident 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.

What are the implications of Obama’s policy warx double exports?

Time and again, paper currencies have collapsed, assets have been frozen, gold has been confiscated, and capital controls have been imposed. However, as the premise rickarde this book is based on advantages gained by currency depreciation, I will illustrate here how a nation can gain an export advantage by devaluing its currency, taking the Pound GBP as an example.

Looking for More Great Reads?

I’d never have guessed that the notion of highly variable market-driven exchange rates is a relatively modern notion. The devaluation of the US dollar relative to other counties’ currencies makes US exports cost less and is The author did a good job of explaining the history and politics of currency wars, and yes, there are always nationalistic politics involved.


The opening line reads in part: I can’t really form an opinion about the veracity of anything Rickards says, which aims at the big flaw here: Mar 21, Elena rated it really liked it Shelves: Dec 16, Rifkards Singh rated it really liked it Shelves: While the Fed policies of quantitative easing raise fears of inflation at home, this means world wide inflation–a policy that will lead not only to resentment, but countermeasures that will lead to greater conflict.

Mar 17, Ben Galbraith rated it really liked it. I would be a bit uncomfortable with someone seemingly so pragmatic with the levers of power. Not only have their theories failed to prevent calamity, they are making the currency wars worse. Currency wars begin in a condition of too much debt and not enough growth.

Because it was the existence of a corporate income tax that made the banks too big to fail. He derives a conclusion that is sound and well worth doing by our central bankers and US Treasury officials. For instance, he believes the G20 has now become a platform for the US to force a re-balancing curreny the economy on surplus nations while the IMF is close to resembling a de facto central bank with its own currency SDR.

Chen Zhiwu Yale University affirmed the reference currebcy of the details the book provided, such as “what the Rothschild family did, how impacts the financial sector has on a country’s development, etc”. According to Zhang Jiayi, it could be argued that the “currency wars” series of books’ goal in promoting the conspiracy theory is precisely to meet the angry psychology of youth.

China could easily swap the long-term maturities for short-term redemptions and call in the liabilities. Sep 25, Beth rated it it was amazing.

Towards the end, he even advocates specific banking regulation to avoid a repeat of the crisis of while simultaneously advocating for smaller government. The book follows a mundane chronological structure that seems labored. It sounds a bit over the top, but entertaining currenyc even fascinating enough to make you want to continue. Want to Read saving…. This author is not a careless bomb thrower but speaks from years cureency experience.

By his logic, a retiree who probably worked a majority of their adult life was to live the rest of their life only with the basics.


I first read “Death of Money” and for some reason got interested in reading “Currency Wars.

Currency Wars: The Making of the Next Global Crisis

The author did a good job of explaining the history and politics of currency wars, and yes, there are always nationalistic politics involved. This can be seen in how QE2 has exported eickards to China. From Wikipedia, the free encyclopedia.

It is like the hedge fund manager from the Big Short Michael Lewis. However, sometimes it becomes hard to follow when the author dives into its subtleties. Thanks for telling us about the problem. Although he rails against debt and profligacy, he seems to be really on board with this weekend pentagon circle-jerk which the author can’t seem to describe any concrete benefit to. How will we get out ric,ards this depression?

The introductory section that introduces the concept of currency wars is weak but short. At times, it can be dry and complicate day the same time. For example, he debunks the myth that German hyperinflation in was to devalue war debts; rather it was an effort to spur an export led economic recovery when no other options were acceptable.

This is a book worthy of being read even by seasoned financial policy makers.

Subscribe to read | Financial Times

Lists with This Book. America started the 3rd currency war and by all means other nations do have every right to hate us and wxrs revenge. The second is to cheapen their currency to offset the impact of the tariffs. He roots his arguments in recent developments in complexity theory, which seem to indicate that current policymakers vastly underestimate the risk of a systemic collapse. It also explained to me why we moved off the gold standard and the implications of a trust-backed currency.

All persons are hereby required to deliver, on or before May 1,to a Federal reserve bank. Greater than any single threat is the very real danger of the collapse of the dollar itself.