James Rickards





James Rickards

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Average rating: 4.01 · 1,517 ratings · 191 reviews · 3 distinct works · Similar authors
Currency Wars: The Making o...
4.01 of 5 stars 4.01 avg rating — 1,387 ratings — published 2011 — 11 editions
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The Death of Money: The Com...
4.09 of 5 stars 4.09 avg rating — 129 ratings — published 2014 — 9 editions
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Currency Wars (Portfolio) 1...
5.0 of 5 stars 5.00 avg rating — 1 rating
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“If an economy has a stagnant labor force operating at a constant level of productivity, it will have constant output but no growth. The main drivers of labor force expansion are demographics and education, while the main drivers of productivity are capital and technology. Without those factor inputs, an economy cannot expand. But when those factor inputs are available in abundance, rapid growth is well within reach.”
James Rickards, The Death of Money: The Coming Collapse of the International Monetary System

“The solutions to this systemic risk overhang are surprisingly straightforward. The immediate tasks would be to break up large banks and ban most derivatives. Large banks are not necessary to global finance. When large financing is required, a lead bank can organize a syndicate, as was routinely done in the past for massive infrastructure projects such as the Alaska pipeline, the original fleets of supertankers, and the first Boeing 747s. The benefit of breaking up banks would not be that bank failures would be eliminated, but that bank failure would no longer be a threat. The costs of failure would become containable and would not be permitted to metastasize so as to threaten the system. The case for banning most derivatives is even more straightforward. Derivatives serve practically no purpose except to enrich bankers through opaque pricing and to deceive investors through off-the-balance-sheet accounting.”
James Rickards, The Death of Money: The Coming Collapse of the International Monetary System

“It is one thing when prices drift downward over time due to innovation, scalability or other efficiencies. This might be considered “good” deflation and is familiar to any contemporary consumer who has seen prices of computers or wide-screen TVs fall year after year. It is another matter when prices are forced down by unnecessary monetary contraction, credit constraints, deleveraging, business failures, bankruptcies and mass unemployment. This may be considered “bad” deflation. This bad deflation was exactly what was required in order to return the most important currencies to their prewar parity with gold.”
James Rickards, Currency Wars: The Making of the Next Gobal Crisis



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