Currency Wars

  • by James Rickards
  • Narrated by Walter Dixon
  • 9 hrs and 55 mins
  • Unabridged Audiobook

Publisher's Summary

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. Greater than any single threat is the very real danger of the collapse of the dollar itself.Baffling to many observers is the rank failure of economists to foresee or prevent the economic catastrophes of recent years. Not only have their theories failed to prevent calamity, they are making the currency wars worse. The U. S. Federal Reserve has engaged in the greatest gamble in the history of finance, a sustained effort to stimulate the economy by printing money on a trillion-dollar scale. Its solutions present hidden new dangers while resolving none of the current dilemmas. While the outcome of the new currency war is not yet certain, some version of the worst-case scenario is almost inevitable if U.S. and world economic leaders fail to learn from the mistakes of their predecessors.

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What the Critics Say

"[Rickards] presents a compelling case for his views and offers thought-provoking information for library patrons. This is a must-read book." (Booklist)

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Customer Reviews

Most Helpful

Must read, listen too!

Would you consider the audio edition of Currency Wars to be better than the print version?

Same reason I listen to most books. I can get educated driving to work or doing yard work.


What did you like best about this story?

In an age of uncertainty, especially for investors, Mr. Rickards gives it to you straight, you can't miss a word he says. No fluff, just amazingly good information. If you want an education in currency this is it.


Which scene was your favorite?

He explains currency events regarding the depression.


What’s the most interesting tidbit you’ve picked up from this book?

Too many to name. The fact that he goes into the history of world wide currency's really pulls it all together for the reader/listener. It was like a road map of the past, present & future economic events layed out in front of me.


Any additional comments?

This book is on my top 3 favorite, I'm over 50 & read/listen to several a week. That say a lot.

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- Roddie

Should Be Required Reading

This is an amazing book. It begins like a spy novel and then takes you through the history of the demise of the gold standard and the rise of central banking. Rickards then explains why the complexity of the current world makes Bernanke's social experiment in trying to reflate the economy by printing money extremely dangerous. This book will make you think. It will make you scared. It will make you understand why we are on an unsustainable path and must break up the financial world into smaller and more understandable pieces with currency backed by a real asset.
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- John

Book Details

  • Release Date: 12-07-2011
  • Publisher: Gildan Media, LLC