Currency Wars

The Making of the Next Global Crisis

by James Rickards

Number of pages: 304

Publisher: Portfolio

BBB Library: Technology and Globalization

ISBN: 9781591844495

About the Author

Richards 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.


Editorial Review

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 form their trading partners.   At worst, they degenerate into sequential bouts of inflation, recession, retaliation, and sometimes actual violence!  Left unchecked, the next currency war would 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.

Book Reviews

"He argues in his new book, Currency Wars: The Making of the Next Global Crisis, QE is an "exercise in deception" that offers little chance of promoting long-term economic recovery. Worse, it has left the dollar highly vulnerable to speculation and, ultimately, a cataclysmic crash." USA Today

"The currency wars are heating up. The US Senate has passed a bill to penalise countries that manipulate their exchange rates–a move aimed squarely at China.."financial times

Books on Related Topics

Wisdom to Share

Currency wars are one of the most destructive and feared outcomes in international economics.

Sometimes these competitive devaluations are inconclusive, with each side gaining a temporary edge but neither side ceding permanent advantage.

Every war has its main fronts and its romantic and often bloody sideshows.

Capital and currency markets are complex systems and will collapse in the end unless they are broken up, contained, compartmentalized and de-scaled.