'The next financial collapse will resemble nothing in history.'
The international monetary system has collapsed three times in the past hundred years: 1914, 1939, and 1971. Each collapse was followed by a period of war, civil unrest or damage to the stability of the global economy.
Now James Rickards, the acclaimed author of Currency Wars, shows why another collapse is rapidly approaching - and why this time, nothing less than the institution of money itself is at risk.
The US dollar has been the global reserve currency since the end of the Second World War. If the dollar fails the entire international monetary system will fail with it. But Washington is gridlocked, and America's biggest competitors - China, Russia, and the Middle East - are doing everything possible to end US monetary hegemony.
The potential results: Financial warfare. Deflation. Hyperinflation. Market collapse. Chaos.
James Rickards offers a bracing analysis of the fundamental problem: money and wealth have become ever more detached. Money is transitory and ephemeral; wealth is permanent and tangible. While wealth has real value worldwide, money may soon be worthless. The world's big players - governments, banks, institutions - will muddle through by making up new rules. The real victims of the next crisis will be small investors who assumed that what worked for decades will keep working.
Fortunately, it is not too late to prepare for the coming death of money. In this riveting book, James Rickards shows us how.
The world's big players - governments, banks, institutions - will muddle through by making up new rules, and the real victims of the next crisis will be small investors. Fortunately, it is not too late to prepare for the coming death of money. In this riveting book, James Rickards shows us how.
About the Author
James Rickards is the author of Currency Wars, which has been translated into eight languages and won rave reviews from the Financial Times, Bloomberg, and Politico. He is a portfolio manager at West Shore Group and an adviser on international economics and financial threats to the Department of Defense and the U.S. intelligence community. He served as facilitator of the first-ever financial war games conducted by the Pentagon. He lives in Connecticut.
A terrifically interesting and useful book...fascinating -- Kenneth W. Dam, former deputy secretary of the Treasury and adviser to three presidents The Death of Money contains very big, provocative ideas clearly explained and delivered...Rickards's insight enables him to connect the dots in a way that few others can -- John Hathaway, portfolio manager, Tocqueville Gold Fund The Death of Money is an important new book for those who worry about the future of our country -- R. Christopher Whalen, noted bank analyst; author of Inflated The Death of Money is an engrossing account of the massive stresses accumulating in the global financial system. Any serious student of financial crises and their root causes needs to read this book -- John H. Makin, Ph.D., resident scholar, American Enterprise Institute; former chief economist, Caxton Associates A great book makes you think differently about the world - and this one does just that -- Don Young, twenty-five-time Institutional Investor All-Star Analyst
Number Of Pages: 368
Published: 7th April 2014
Country of Publication: US
Dimensions (cm): 23.3 x 15.4 x 2.6
Weight (kg): 0.48
Edition Number: 1