Currency Wars
Currency Wars explores the potential for a new kind of global financial warfare centered around currency manipulation. In this book, Jim Rickards examines the effects of currency wars and how they are feared in international economics. He argues that the competitive devaluation of currencies is not just an economic issue but a grave national security issue. He also untangles the web of false paradigms, arrogance, and illusions compelling current public policy and points the way towards a more effective course of action. According to Rickards, currency wars are one of the most destructive and feared outcomes in international economics. Left unchecked, the next currency war could lead to a crisis worse than the panic of 2008.
CURRENCY WARS KEY IDEAS
The Anatomy of Currency Wars
Since 2008, Rickards argues that the US initiated a third major currency war of the last century. The stakes, he argues, are now the monetary system itself.
Globalization, State Capitalism and the Geopolitical Playing Field
Rickards discusses how currency wars are not just economic phenomena but also have geopolitical implications, influencing international relations and alliances.
Gold Standard
He advocates for a return to a modified gold standard as a solution to prevent currency wars and stabilize the global financial system.
End Games
The US dollar will likely lose its status as world reserve currency, sooner rather than later. In its place, we might end up with a multi-reserve currency system of regional currencies.
ABOUT THE AUTHOR
Jim Rickards is a counselor, investment banker, and risk manager with over thirty years' experience in capital markets.
He advises the Department of Defense, the U.S. intelligence community, and major hedge funds on global finance, and served as a facilitator of the first ever financial war games conducted by the Pentagon.
He is also the editor of Strategic Intelligence, Project Prophesy, Crash Speculator, and Gold Speculator — four premium financial newsletters.
PRAISE FOR THE BOOK
“One of the most urgent books of the fall.”
—Mike Allen, Politico
“Let’s hope he’s wrong.”
“Unsettling . . . fascinating . . . a thorough analysis of how nations have manipulated their currencies . . . with disastrous consequences.”
—Fort Worth Star-Telegram
“Buy Currency Wars if you want to learn the history and language of the global currency markets and the political economy which they support.”
—Chris Whalen, Ritholtz.com
“Jim Rickards highlights dangerous dynamics between national security and the international financial markets. What we assumed was firm ground under our feet is more like the narrowing point of a precipice. ”
—Charles A. Duelfer, former special adviser to the director of the CIA; author of Hide and Seek: The Search for Truth in Iraq
“Put on your flak vest and helmet and enter the dangerous battlefield of global finance. Jim Rickards takes you through a captivating roller-coaster ride—the past, the present, and a look at the problematical future of our ongoing currency wars.”
—Rear Admiral (Ret.) Stephen H. Baker, chief of staff, Fifth Fleet; recipient, Distinguished Service Medal