The Death of Money

The Death of Money : The Coming Collapse of the International Monetary System

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The next financial collapse will resemblenothing in history. . . . Deciding uponthe best course to follow will requirecomprehending a minefield of risks, whilepoised at a crossroads, pondering thedeath of the dollar. The international monetary system has collapsed threetimes in the past hundred years, in 1914, 1939, and 1971.Each collapse was followed by a period of tumult: war, civil unrest, or significant damage to the stability of theglobal economy. Now James Rickards, the acclaimedauthor of Currency Wars, shows why another collapseis rapidly approaching and why this time, nothing lessthan the institution of money itself is at risk. The American dollar has been the global reservecurrency since the end of the Second World War. If thedollar fails, the entire international monetary system willfail with it. No other currency has the deep, liquid poolsof assets needed to do the job. Optimists have always said, in essence, that there snothing to worry about that confidence in the dollarwill never truly be shaken, no matter how high ournational debt or how dysfunctional our government. Butin the last few years, the risks have become too big toignore. While Washington is gridlocked and unable tomake progress on our long-term problems, our biggesteconomic competitors China, Russia, and the oilproducingnations of the Middle East are doing everythingpossible to end U.S. monetary hegemony. Thepotential results: Financial warfare. Deflation. Hyperinflation.Market collapse. Chaos. Rickards offers a bracing analysis of these andother threats to the dollar. The fundamental problem isthat money and wealth have become more and moredetached. Money is transitory and ephemeral, and it maysoon be worthless if central bankers and politicians continueon their current path. But true wealth is permanentand tangible, and it has real value worldwide. The author shows how everyday citizens who saveand invest have become guinea pigs in the centralbankers laboratory. The world s major financial players national governments, big banks, multilateralinstitutions will always muddle through by patchingtogether new rules of the game. The real victims of thenext crisis will be small investors who assumed that whatworked for decades will keep working. Fortunately, it s not too late to prepare for the comingdeath of money. Rickards explains the power ofconverting unreliable money into real wealth: gold, land, fine art, and other long-term stores of value. As he writes: The coming collapse of the dollar and the internationalmonetary system is entirely foreseeable. . . . Only nationsand individuals who make provision today will survivethe maelstrom to come. "show more

Product details

  • Hardback | 356 pages
  • 154.94 x 226.06 x 30.48mm | 566.99g
  • United States
  • English
  • New.
  • 1591846706
  • 9781591846703
  • 88,001

Review quote

"A fast-paced and apocalyptic look at the financial future, taking in financiers' greed, central banks' incompetence and impending Armageddon for the dollar...Rickards may be right that 'the system is going wobbly.'" The Financial Times "The Death of Money makes a valuable contribution to our economic discourse." Forbes "James Rickards' The Death of Money is ... making it a veritable golden age for smart books on the current state of the global economy." Politico A terrifically interesting and useful book . . . fascinating. KENNETH W. DAM, former deputy secretary of theTreasury and adviser to three presidents The Death of Money contains very big, provocative ideas clearly explained anddelivered in an evenhanded tone that steers away from the sensational proclamationyet successfully undercuts conventional market wisdom. Rickards sinsight enables him to connect the dots in a way that few others can. A worthysuccessor to Currency Wars. JOHN HATHAWAY, portfolio manager, Tocqueville Gold Fund The Death of Money is an engrossing account of the massive stresses accumulatingin the global financial system, especially since the 2008 financial crisis. JimRickards is a natural teacher. Any serious student of financial crises and theirroot causes needs to read this book. JOHN H. MAKIN, PH.D., resident scholar, American EnterpriseInstitute; former chief economist, Caxton Associates A crucial primer for investors and consumers for what lies immediately aheadfor the United States and a world that remains entirely dependent upon the dollar.The Death of Money is an important new book for those who worry about thefuture of our country. R. CHRISTOPHER WHALEN, noted bank analyst; author of Inflated Rickards s analysis of the inflation-deflation paradox, dangerous adversaries tothe dollar, and the Fed s strategy is insightful. Following his bestseller CurrencyWars, this book is even better. A great book makes you think differently aboutthe world and this one does just that. DON YOUNG, twenty-five-time InstitutionalInvestor All-Star Analyst; former board member, Financial Accounting Standards Board"show more

About James Rickards

JAMES RICKARDS is the author of the national bestsellerCurrency Wars, which has been translated intoeight languages and won raves from the likes of theFinancial Times, Bloomberg, and Politico. He is a portfoliomanager at West Shore Group and an adviser oninternational economics and financial threats to theDepartment of Defense and the U.S. intelligence community.He served as facilitator of the first-ever financialwar games conducted by the Pentagon. He lives in Connecticut. Follow @JamesGRickards."show more