James Rickards





James Rickards



Average rating: 3.97 · 4,502 ratings · 465 reviews · 5 distinct works · Similar authors
Currency Wars: The Making o...

3.96 avg rating — 2,954 ratings — published 2011 — 18 editions
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The Death of Money: The Com...

3.96 avg rating — 1,004 ratings — published 2014 — 17 editions
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The New Case for Gold

3.94 avg rating — 305 ratings — published 2016 — 6 editions
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The Road to Ruin: The Globa...

4.27 avg rating — 189 ratings7 editions
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The Big Drop: How To Grow Y...

3.85 avg rating — 53 ratings2 editions
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“A prohibition on the hoarding or possession of gold was integral to the plan to devalue the dollar against gold and get people spending again. Against this background, FDR issued Executive Order 6102 on April 5, 1933, one of the most extraordinary executive orders in U.S. history. The blunt language over the signature of Franklin Delano Roosevelt speaks for itself: I, Franklin D. Roosevelt . . . declare that [a] national emergency still continues to exist and . . . do hereby prohibit the hoarding of gold coin, gold bullion, and gold certificates within the . . . United States by individuals, partnerships, associations and corporations.... All persons are hereby required to deliver, on or before May 1, 1933, to a Federal reserve bank . . . or to any member of the Federal Reserve System all gold coin, gold bullion and gold certificates now owned by them.... Whoever willfully violates any provision of this Executive Order . . . may be fined not more than $10,000 or . . . may be imprisoned for not more than ten years. The people of the United States were being ordered to surrender their gold to the government and were offered paper money at the exchange rate of $20.67 per ounce. Some relatively minor exceptions were made for dentists, jewelers and others who made “legitimate and customary” use of gold in their industry or art. Citizens were allowed to keep $100 worth of gold, about five ounces at 1933 prices, and gold in the form of rare coins. The $10,000 fine proposed in 1933 for those who continued to hoard gold in violation of the president’s order is equivalent to over $165,000 in today’s money, an extraordinarily large statutory fine. Roosevelt followed up with a”
James Rickards, Currency Wars: The Making of the Next Gobal Crisis

“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

“There is hardly a part of the United States where men are not aware that secret private purposes and interests have been running the government.” President Woodrow Wilson”
James Rickards, Currency Wars: The Making of the Next Gobal Crisis

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