Name: Currency wars
ISBN: 9781591845560

Currency wars

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.

What Hacker News says

mark_l_watsonJan 2020

Too many. As a liberal I still find conservatives Kevin D. Williams (The Smallest Minority, Independant Thinking in the Era of the Mob) and James Rikards (Currency Wars, Aftermath, etc.) to be interesting and useful. Then there is Thomas Piketty (Capital in the 21st Century), Douglas Rushkoff (Throwing Rocks at the Google Bus).

Anyway, these few were enjoyably, but a warning: I have loaned books by the first two conservative authors to liberal friends and they didn’t like them, too far outside the bubble they like to live in. I like reading authors that have differing world views from myself.

EDIT: The Devil’s Chessboard is also a good read, but parts of it were disturbing to me.

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lowdoseMay 2019

A good read on QE is Currency Wars by James Rickards. It isn't written as a dry traditional economic book while covering the monetary history of last 2 centuries. I suspect the book is not mentioned often being published in 2012 it predicted the destruction of the dollar by the QE policies. The predictions of the book can still become reality because QE is a monetary experiment which increases the supply of money at unprecedented level. Creating money out of thin air and holding more than 4 trillion dollar [0] on assets is not a healthy situation for the FED. [0] https://fred.stlouisfed.org/graph/fredgraph.png?g=lFm1

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dilemmaAug 2016

>Major players in this unwritten pact include the USA, China, and the EU. It's so large you might almost think of it as WWIII, but being fought with monetary policy (mostly) instead of guns

Indeed, there's a book called Currency Wars. Recommended.

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mark_l_watsonMay 2015

I subscribe to Katherine Austin Fitt's solari.com report - she and her guests usually seem very well informed. She was the under secretary of HUD in the George H. Bush administration, but got it some trouble for publicly speaking about how US government finances work. She claims that Dick Cheny tried to ruin her life.

I also like James Rickards' two books "The Currency Wars" and "The Death of the Dollar."

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atmosxMay 2015

You wrote:

> Given that Greece is 'paying' for these imports with borrowed money, which is unlikely ever to be paid back, how is this setup benefitting?

> Well, the Euro collapsed for everybody, so all other Euro members had exactly the same benefit.

I don't know if you're trolling me or not. Maybe you should read a little bit about the context before engaging into similar discussions.

A few good starting points:

Macronomics: http://www.amazon.com/Macroeconomics-3rd-Edition-Paul-Krugma...

[2] http://www.amazon.com/Currency-Wars-Making-Global-Crisis-ebo...

Also read about public debts what they are and how they did evolve.

Finally, you're looking financial answers to a political problem. Strictly financially speaking, debt restructuring is the only sensible solution to Greece AND everyone else. What you're watching, is a live show of poor justifications from failed politicians (all over the EU).

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mark_l_watsonJun 2014

I was reading James Rickard's new book "The Death of Money" (he also wrote "Currency Wars") today and he goes into a lot of detail on China's problems (investing in infrastructure that may not be used, not pushing consumer spending, etc.) - a recommended read.

I have been taking a class on Globalization. My gut instinct is both China and the USA face extreme problems, and things are just holding together in both countries.

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