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The Death Of Money: The Coming Collapse Of The International Monetary System (2014)

by James Rickards(Favorite Author)

4.08 of 5 Votes: 4

ISBN

1591846706 (ISBN13: 9781591846703)

languge

English

genre

Nonfiction

publisher

Portfolio Hardcover

review 1: For most people this may be a dry read but I found in interesting enough to get through. I read a lot of business publications so none of this books dire forecasts shocked me. The U.S. Prints money out of thin air through the federal reserve bank and buys its own debt to keep interest rates unnaturally low to sustain its massive bloated, and ever expanding debt. It is not sustainable and since the EU, Japan and many other countries are also doing similar things, the situation is turning into a huge bubble that will one day burst. It's not if, it's when. This book explains this and tells you what you should do to prepare.
review 2: Wow, this was a completely different take of the world-wide economic landscape. His comment about "lack of imagination" is the one ... moreargument that I keep coming back to. This refers to the CIA having information that terrorists were taking flight lessons prior to 9/11. The CIA didn't predict 9/11 because nothing like it had happened before, and they could not imagine it happening. My instinct the Rickards is completely wrong, strikes me as possibly "lack of imagination." Our politicians and media tell us things are fine and such scenarios as described by Rickards are loony. Rickards details how the Fed is battling deflation and isn't winning. In the epic struggle between inflation and deflation, the dollar will become worthless. He describes multiple paths for how this may happen and provides seven signs that signal the dollar's demise is approaching. The appearance of any of these signs should alert investors to possible inflation, deflation, or social disorder. Seven signs of the dollar's demise. 1) the price of gold: disorderly price movements indicate price manipulation is ineffective. A significant rapid rise is not a bubble. A dramatic decrease is a sign of deflation.2) Continuation of gold purchases by central banks. China announcing they have over 4,000 tons of 3) IMF governance reforms. More power for China; a reduction in dollar percentage of SDR. US Multinationals issuing SDR-denominated bonds.4) Failure of regulatory reform. Bank lobbyists preventing derivative regulation and capital requirements. Will lead to another panic that the fed cannot handle.5) System crashes. More frequent episodes of flash crashes or just closing of exchanges. Higher frequency indicate emerging cyber-fiscal warfare. Or breakdown of high speed frequency trading. Will probably lead to deflation.6) End of Quantitative Easing. End of bond purchases by Japan or United States. Money printing will continue even after 2% inflation is achieved.7) A Chinese collapse. The Chinese Ponzi scheme finally collapses. China will devalue the yuan, leading to short run deflation followed by Japanese and United States inflation. less

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