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If you could sum up The Road to Ruin in three words, what would they be?
Tomorrow's world Today
What other book might you compare The Road to Ruin to and why?
On the Beach - Neville Shute
What about James Rickards’s performance did you like?
Quietly lucid and easy to listen to
Was there a moment in the book that particularly moved you?
Well researched and support insights on every page from someone deep inside the world of money and currency (you'll soon discover the difference) I constantly had to remind myself that Ian Fleming's James Bond could not have done a better job - main;t because that was fiction. If you want the history of the banking system it's here
Any additional comments?
The Road to Ruin is quite simply a cutting-edge account of the current economic situation, and stands high on several strengths.
First of all, it is very readable whilst being sufficiently academic. Financial newcomers may be lost in jargon, but Rickards does not overwhelm the reader.
Secondly, it is very well informed. Researched is not the correct word, although Rickards clearly backs his work up with up to date sources, however, it is informed in the sense that Rickards is no industry outsider, quite the opposite. He has served at the highest levels of banking, and converses with the very highest people.
Thirdly, it makes sense. Early on, Rickards establishes that Economics, while being a science, is not practiced as such as economists behave like dogmatists, obfuscating information and data that does not hold with their preconceived theories. As such, the same risk models, algorithms, and practices that led to the crash of 2008 are firmly in place. Rickards details the 1998 collapse of Long Term Capital Management as a model for the crash of 2008, model in the sense that central bankers, policy elites, and the financial community could have learned the lessons from 1998, but ignored them.
Rickards work is both an overview of the systemic flaws in the world financial system, and something of a divination into what may come. The scenario he lays out is harsh and unsettling, wherein he posits that elites will roll out a universal asset freeze and halt of the global economy, and this will be backed up with the full force of the state, using policing tactics which may sound harsh to the unfamiliar, but as Rickards illustrates, are already widely practiced.
Rickards work may draw raised eyebrows, skepticism and disagreement, but whether one agrees with his book or not, it stands on its own merits as a well written, well argued and well informed critique of the global financial system, and stand tall it does.
2 of 2 people found this review helpful
Any additional comments?
An interesting analysis of the history of the world financial market and the potential direction we are heading. Rickards comes across as a plausible commentator with a great deal of insight into the subject. However, the core concept of the book seems a little grandiose and paranoid to be realistic. I wholeheartedly believe much of it is possible but the end game seems unlikely.
Why would this mysterious global elite want to turn capitalism into socialism when capitalism is what made them rich in the first place?
1 of 1 people found this review helpful
Very interesting and topical approach to the assessment of risk in a more complex and interconnected global financial system.
Was good to get an different view and perspective of what caused the GFC and other financial crisis. Not sure whether I agree that a crisis cannot be forseen because there were people that predicted the crisis, and even tbough the author says there will be another crisis, how does he know for sure if he mentions on several occasions that the previous crisis could not have been predicted? Quite technical in places and did go off on a tangent several times that I did not think were relevant but overall a good book.