Currency Wars : The Making of the Next Global Crisis

by Rickards, James

• ISBN13: 9781591844495
• ISBN10: 1591844495
• Edition: 1st
• Format: Hardcover
• Copyright: 2011-11-10
• Publisher: Portfolio Hardcover

Summary

How the worldwide currency war, already under way, will soon affect us all. The debasement of the dollar, bailouts in Greece and Ireland, and Chinese currency manipulation are unmistakable signs that we are experiencing the start of a new currency war. Fought as a series of competitive devaluations of one country's currency against others, currency wars are one of the most destructive and feared outcomes in international economics. Left unchecked, the new currency wars could lead to a crisis worse than the panic of 2008. Drawing on a mix of economic history, network science, and sociology, Currency Wars provides a rich understanding of the increasing threats to U.S. national security, from dollar devaluation to collapse in the European periphery, failed states in Africa, Chinese neomercantilism, Russian adventurism, and the current scramble for gold. James Rickards, an expert who has worked at the highest levels of both finance and national security, explains everything we need to know about this growing global standoff. He takes readers around the world and behind closed doors to explain complex financial and political currents with absorbing firsthand anecdotes.

Author Biography

James 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. A frequent guest on CNBC, CNN, Fox, C-SPAN, Bloomberg TV, and NPR, Rickards also lectures at Northwestern University and at the School of Advanced International Studies.

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Table of Contents

Preface	p. xi
War Games	p. 1
Prewar	p. 3
Financial War	p. 17
Currency Wars	p. 35
Reflections on a Golden Age	p. 37
Currency War I (1921-1936)	p. 58
Currency War II (1967-1987)	p. 78
Currency War 111 (2010-)	p. 98
The G20 Solution	p. 125
The Next Global Crisis	p. 143
Globalization and State Capital	p. 145
The Misuse of Economics	p. 168
Currencies, Capital and Complexity	p. 195
Endgame-Paper, Gold or Chaos?	p. 225
Conclusion	p. 255
Acknowledgments	p. 259
Notes	p. 263
Selected Sources	p. 273
Index	p. 281
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