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The Death of Money: The Coming Collapse of the International Monetary System
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“The next financial collapse will resemble nothing in history... Deciding upon the best course to follow will require comprehending a minefield of risks, while poised at a crossroads, pondering the death of the dollar.”
The international monetary system has collapsed three times in the past hundred years, in 1914, 1939, and 1971. Each collapse was followed by a period ...more
The international monetary system has collapsed three times in the past hundred years, in 1914, 1939, and 1971. Each collapse was followed by a period ...more
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James Rickards begins this book with an interesting account of how systems for detecting insider trading in futures markets can be integrated with conventional counter-terrorism techniques. He takes the discussion further by outlining financial warfare scenarios in which hostile nations use malicious interventions in markets to damage an adversary. This part of the book works well because it rests on what the author knows. He is a genuine expert in these matters.
Most of the book, however, is an ...more
Most of the book, however, is an ...more
We're all screwed.
Buy some gold and run for the hills. ...more
Buy some gold and run for the hills. ...more
Good read with some eye-opening sections. The things that stood out the most: terrorists can/will short stocks when they know a stock may plummet from a terror attack(happened on 9/11), China has many ghost cities, and lastly China may be in cahoots with the US to keep the dollar bubble going as it looks to be mutually beneficial for both parties.
Change is coming. One way or another our current global monetary system is going to change.
The conclusion section is a must read, starting on page 29 ...more
Change is coming. One way or another our current global monetary system is going to change.
The conclusion section is a must read, starting on page 29 ...more
Did Al Qaeda Cash in on the 9/11 Attacks?
by Mark H. Gaffney
So says James Rickards, author of the hot bestseller, The Death of Money, The Coming Collapse of the International Monetary System, which presents a persuasive argument that citizens of planet earth face an imminent global financial meltdown, one that will make 2008 look like a warm up.
Rickards’ book includes insightful chapters about Germany and the Eurozone, the BRICS, China, the IMF, as well as a clear analysis about how the Federal R ...more
by Mark H. Gaffney
So says James Rickards, author of the hot bestseller, The Death of Money, The Coming Collapse of the International Monetary System, which presents a persuasive argument that citizens of planet earth face an imminent global financial meltdown, one that will make 2008 look like a warm up.
Rickards’ book includes insightful chapters about Germany and the Eurozone, the BRICS, China, the IMF, as well as a clear analysis about how the Federal R ...more
Some time ago ago Russia and China struck a 400 billion dollar agreement on gas; a sign of the times, an Asian economic block a-building? It seems Russia wants to prove to the US it can find other business partners; others than Europe.
Russia and China, says Rickards, on the other side don’t have a debt/bonds market sufficiently big,…so the dollar is still a reserve currency. But things are changing (namely the Petrodollars status).
Rickards predicts a “liquidity crisis” to happen; and the I ...more
Russia and China, says Rickards, on the other side don’t have a debt/bonds market sufficiently big,…so the dollar is still a reserve currency. But things are changing (namely the Petrodollars status).
Rickards predicts a “liquidity crisis” to happen; and the I ...more
Rickard's incredible breadth of experience and depth of understanding of the intricacies of the world's financial systems is again on display in incredible fashion in this follow up to Currency Wars. I've read Currency Wars three times now and most of this book twice and am still amazed at how much ground is covered in each book. Although The Death of Money does offer some investment recommendations at the end of this book (something I felt was lacking in CW) I feel like the real value to what's
...more
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The announcement by China in late 2014 or early 2015 that it has acquired over 4,000 tonnes of gold will be a landmark in this larger trend and a harbinger of inflation. A portfolio of 20% gold, 20% land, 10% fine art, 20% alternative funds, and 30% cash should offer an optimal combination of wealth preservation under conditions of inflation, deflation, and social unrest, while providing high risk-adjusted returns and reasonable liquidity. This portfolio m ...more
The announcement by China in late 2014 or early 2015 that it has acquired over 4,000 tonnes of gold will be a landmark in this larger trend and a harbinger of inflation. A portfolio of 20% gold, 20% land, 10% fine art, 20% alternative funds, and 30% cash should offer an optimal combination of wealth preservation under conditions of inflation, deflation, and social unrest, while providing high risk-adjusted returns and reasonable liquidity. This portfolio m ...more
Entertaining read and very informative for those who aren't familiar with the role of the IMF in international monetary policy.
...more
Nov 11, 2017
Andrew
rated it
really liked it
·
review of another edition
Shelves:
economics-finance,
current-affairs
Interesting analysis of the problems with the current International Monetary system and its imminent demise.
I used both the online print version and audio book version of this book simultaneously. With my very limited understanding of economics, I still found this book difficult to follow at times. The book's title attracted me. Though chilling in it's predictions throughout, this book is very educational as it sheds light on various global financial scenarios and feedback loops that have occurred, and those that can occur, as well as how they can occur, and what we can do to best position ourselves i
...more
In this where Ian Fleming-meets-Michael Lewis-meets-John Le Carre, James Rickards knocked the very stuffing out of yours truly and left me reeling with incredulity!Brash, egregious and outspoken, "The Death of Money", is a roller coaster experience which at times is so surreal that you may be forgiven for thinking that Rickards is trying to pull the carpet from underneath you!
Just 3 days before the infamous 9/11 disaster there was an unusual element of trading in the stocks of both American and ...more
Just 3 days before the infamous 9/11 disaster there was an unusual element of trading in the stocks of both American and ...more
There are few authors from whom I learn more than James Rickards. Both this book and his first offering (Money Wars) are chock full of information on the global economy and how different countries interact with one another. His books are so information-dense that they often take me a while to get through them (I have to step back and digest the information every so often), but I feel like a better informed citizen once I'm done reading.
The reason I'm knocking off a star: Rickards has the thesis ...more
The reason I'm knocking off a star: Rickards has the thesis ...more
The book is about the decline of the dollar era, and what might come after it if the dollar fails as the reserve currency of choice. Rickard’s believes “The Fed’s insolvency is looming.” The author claims the reason for this is the US Federal Reserve has mismanaged the financial crisis and recovery. Rickard thinks they should have let the market correct itself without intervention. The author discusses inflation and deflation in detail as well as the role of banks, central banks and the IMF. I f
...more
I had just started reading a book on this topic but had to give up, something I almost never do, because it was discussing economic theory at a clinical graduate level that made it difficult to follow; and I do have an MBA. So deciding to switch to the Death of Money, I was concerned about at what level this was written.
This was not the case. In fact, this author really made this subject easy to understand and also made it interesting. He included many examples and filled in with plenty of littl ...more
This was not the case. In fact, this author really made this subject easy to understand and also made it interesting. He included many examples and filled in with plenty of littl ...more
I should have done some research on the author before ordering - proudly describing project work for the CIA at the beginning really put me off. For people looking for alternative views and truth, you will probably be disappointed. Consider this snippet: "The 9/11 Commission Report is a monumental and excellent summary, a brilliant work of history..." Having said that, on the financial side there is plenty of good information, yet nothing groundbreaking that hasn't been said or heard in alternat
...more
Absolutely fascinating! Stretched my brain in a 1,000 different ways given that I don't normally read about the economy (particularly in this much detail) but it provided tremendous insight into the state of the global economy and what current political, economic, and private interests are at play.
...more
This is a fascinating book. Scary. Gives you a in-depth perspective on the global economy and the role monetary policy plays in the rise and fall of civilizations. Especially interesting if you love anthropology or sociology.
Despite its apocalyptic title, this is not really an end-of-days book. James Rickards is an astute analyst, and what he's writing about here is not really disappearance of the international monetary order so much as its transition into something radically new. What sets him apart from at least some of the other writers focusing nowadays on similar issues is that he has some fairly well-grounded ideas about what shape the new order may be trying to take. And while we're not talking quite Book of
...more
Though a more apt title would be The Death of the Dollar Standard, James Rickards nonetheless provides a detailed case as to how the Dollar’s status as the Global Currency is not as strong as many assume, and that contrary to commonly held belief, there are several contenders suitable to replace the Dollar, not least of which are IMF Special Drawing Rights and Gold.
Rickards details how governments are in a race to acquire physical holdings of Gold, and that Gold price manipulation is already un ...more
Rickards details how governments are in a race to acquire physical holdings of Gold, and that Gold price manipulation is already un ...more
Jun 11, 2019
Ryan Shea
added it
Money is not so simple. Terrorism and monetary espionage are the new norm. The 9/11 attacks for example illustrate the potential cost-effective wealth destruction capabilities of terror over traditional warfare. Propping up confidence, while attempting to continue inflation are the roles of central banks. Why is inflation good for a government? It's what they must do - in order to reduce the burden of accumulated debt in *real* terms, while at the same time ensuring tax revenue (if your salary h
...more
The book title, though catchy, essentially indicates the probable loss of confidence in Dollar over the years due to the model of the current international monetary system. Now, the book, a non-fiction being at 398 pages is for sure long (, and totally opinionated), but it still gives a hell lot of knowledge about how the system works, what the governments are capable of doing, what they are already doing, and some ideas on what you can do to save yourself in the likely event of a system-wide co
...more
Rickards insights into geopolitical, strategic economics are fascinating and insightful.
Whilst there is a clear effort to remain objective and analytical in describing monetary policy of central banks, and the influence of 'the global elite', it's clear that Rickards has a biased view on contemporary history, and that the punchline of the book is always going to turn into 'another case for investing in gold'.
The book would go from good to great if there were a little more analysis of WHY rampa ...more
Whilst there is a clear effort to remain objective and analytical in describing monetary policy of central banks, and the influence of 'the global elite', it's clear that Rickards has a biased view on contemporary history, and that the punchline of the book is always going to turn into 'another case for investing in gold'.
The book would go from good to great if there were a little more analysis of WHY rampa ...more
The most enjoyable parts of this book are the story about predicting insider trading. However, being new to many of the global economic workings, I found a lot of new avenues to research. His cases for gold require more backing for my taste and I was astounded to find that many of the key points around the difficulty of moving gold around the world are better arguments for bitcoin (or a new IMF designed and controlled cryptocurrency).
Now I’m off to read his more recent book to see if his argumen ...more
Now I’m off to read his more recent book to see if his argumen ...more
When I was a younger man, just entering the work force, and I encountered the concept of inflation I thought to myself "but that's not sustainable in the long term, eventually the chickens will come home to roost." I was right, but until I read this book I did really understand fully how complicit those in the power structure are. Inflation is the name of the game for a reason, and this book fleshed out the last bits of information I needed to fully grok that. That is not the purpose of the book
...more
An eye opener in the real sense with lot of insider information on the current state of our financial system. So much is covered in this primer, dollar hegemony that is about to end, rise of China which might not be such a good thing, primacy of Gold which is real money?, full account of a small coterie of bureaucrats and technocrats who control and regularly messes up with global financial system. It is overall an interesting read, I don't think author has nailed this topic out in this book but
...more
4+ stars. This is a very interesting book about the structure of all things holding value and representing wealth. Surprisingly, I almost didn’t get past the introduction, perhaps it seems written at the PhD level, full of terms and concepts almost beyond comprehension. Chapter One disposed of that concern as Rickards launches into a real-world description of Market Intelligence (MARKINT). Written originally in 2011, one wonders what the impact on Trump administration monetary policies have had
...more
Exquisite.
Hard to argue with a man who is pretty much always right.
Predicted Brexit. - check
Predicted Trump would win. - check
Correctly predicted the past dozen or so Fed Reserve Rate moves.
I don't have schooling in finance. Jim's books serve as my education. They are compelling and as broad as they are deep. Jim illustrates how financial systems mirror those in the natural world, like hurricanes. His metaphors are intriguing and his pedigree is superb. Agree or disagree, you will be intellec ...more
Hard to argue with a man who is pretty much always right.
Predicted Brexit. - check
Predicted Trump would win. - check
Correctly predicted the past dozen or so Fed Reserve Rate moves.
I don't have schooling in finance. Jim's books serve as my education. They are compelling and as broad as they are deep. Jim illustrates how financial systems mirror those in the natural world, like hurricanes. His metaphors are intriguing and his pedigree is superb. Agree or disagree, you will be intellec ...more
Quite an eye opener with details and information about why we should buy gold, why fiat money involves a lot of risk, how the governments are trying to manipulate currencies, etc. good info, but there are some gruesome long paragraphs of details hard for the laymen to digest, at least for my first read. Overall I get the point at least. I did skip few lines here and there to get to the conclusions of the studies Rickards presented. OK book. Read it if you’re curious why the author thinks the eco
...more
Scary stuff, but no advice as to what to do/invest in until the last two pages. Probably written from a conservative viewpoint but he states repeatedly that poor people are screwed because the redistribution of wealth from poor to rich has been going on for years through inflation and stagnant wages; the rich will always take care of themselves and the rest of us can suffer. There will be no social unrest of the "eat the rich" type - the militarized police (state Army) will handle all of that. M
...more
With the changes to the Fed's powers in 2020, I picked up James Rickards' book a second time to reread his thoughts on The Death of Money. Rickards offers clear, easily readable insight into how the system on which money is built actually works. He explains that a crisis is coming and, instead of shouting it to the world, he calmly and methodically shows readers how and why the international monetary system has a collapse coming. This is a wonderful follow-up to the book Currency Wars but stands
...more
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“The gross size of all bank derivatives positions now exceeds $650 trillion, more than nine times global GDP.”
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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.”
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