Currency Wars: The Making of the Next Global Crisis

Author(s): James Rickards

Philosophy, Politics & Current Affairs

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.The next crash is overdue. Recent headlines about the Eurozone crisis, the bailouts for Greece, riots caused by austerity measures as well as the debasement of the dollar.


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"Rickards, experienced financial adviser, investment banker, and risk manager, tells us we are in a new currency war that could destroy faith in the U.S. dollar; he examines that war through the lens of economic policy, national security, and historical precedent. As a national security issue, he tells a fascinating story of his involvement with the Pentagon and other agencies in designing and participating in a war game using currencies and capital markets, instead of ships and planes, to gain early warning of attacks on the U.S. dollar. The author concludes that "mainstream economists and central bankers alike are well aware of dollar weakness and the risks to international monetary stability from the new currency wars." He sees four prospects for the dollar-multiple reserve currencies, special drawing rights, gold, and chaos. Rickards'' ideas are controversial and will attract support and criticism across many disciplines. Nevertheless, he presents a compelling case for his views and offers thought-provoking information for library patrons. This is a must-read book."---Mary Whaley, "Booklist"

General Fields

  • : 9781591845560
  • : Penguin Publishing Group
  • : united
  • : August 2012
  • : 214mm X 140mm
  • : United States
  • : November 2012
  • : books

Special Fields

  • : James Rickards
  • : Paperback
  • : 1012
  • : en
  • : 332.4
  • : 304
  • : Illustrations