The book offers a critical analysis of currency wars, drawing parallels between their historical significance in the 1970s and contemporary issues during the Trump era. It explores the implications of these economic conflicts and how they pose similar dangers today. This fifth anniversary edition provides updated insights, making it a relevant read for those interested in the evolving landscape of global finance and economic policy.
The past decade has shown that a significant financial crisis is imminent. While the American economy seems to have recovered from the 2008 recession, driven by tax cuts and investor optimism, history teaches us that stock market highs are unsustainable. Current conditions, including inflated asset prices, low interest rates, and the rise of index funds, mask underlying systemic risks such as market volatility, soaring debt, and political instability.
In this insightful analysis, financial expert James Rickards outlines the impending economic turmoil and highlights which asset classes are most vulnerable. He advises against high-valuation tech and media stocks like Facebook, Netflix, and Amazon, and warns investors to avoid digital currencies such as Bitcoin and Ethereum. Rickards argues that passively managed index funds hinder market corrections, creating opportunities for active investors. He emphasizes that cash will remain essential when asset values plummet by 50% or more during a financial panic. Additionally, he critiques behavioral economists who influence 401(k) plans, leading investors to overexpose themselves in equity markets.
With a no-nonsense approach reminiscent of his previous works, Rickards exposes the key players and capital flows shaping the global economy.
In his most practical book to date, financial expert and investment advisor James Rickards shows how and why our financial markets are being artificially inflated and what smart investors can do to protect their assets. What goes up must come down. As any student of financial history knows, the dizzying heights of the stock market can't continue indefinitely. In turbulent times, the elites are prepared but what should the average investor do? James Rickards lays out the true risks to our financial system and offers invaluable advice on how best to weather the storm.
The bestselling author of *The Death of Money* and *Currency Wars* exposes a dark scheme by global elites to conceal an impending financial catastrophe from investors. Signs of a worldwide financial meltdown are clear, and the elites have devised a plan to protect themselves by hoarding cash and locking down the financial system during a crisis. Since 2014, international monetary agencies have warned a select group of finance ministers and banks that the U.S. government's failure to hold institutions like J.P. Morgan accountable, alongside a $4 trillion injection of easy credit, is leading us toward disaster. This meticulously researched work reveals that governments are willing to conspire against their citizens. They will have stockpiled hard assets while stock exchanges are closed, ATMs shut down, and cash withdrawals denied. To navigate these risks, readers will benefit from the author's synthesis of behavioral economics, history, and complexity theory, providing a guide to smarter thinking and swift action to secure their wealth. The elites aim to keep this knowledge hidden, relying on public complacency as they prepare to exploit a global crisis. This book empowers readers to avoid being led astray during turbulent times.
A sequel to the best-selling Currency Wars predicts a coming collapse of the monetary system while counseling investors on how to survive it, arguing that the dollar will be at the center of a crisis that will differentiate money from wealth.
Dive into the gripping world of international ecocomics through American lawyer, investment banker, media commentator, and author, James G. Rickards's expertise and thought-provoking insights. From collapsed paper currencies and hidden agendas of soveriegn wealth funds to the very real threats of national security, James G. Rickards scrutinizes the history and disastrous outcomes of currency wars, shedding light on the potential crisis that looms over the United States and the world. Rickards dissects failed paradigms and conventional theories while offering a course of action to steer away from impending disaster.
"Author and economic commentator James Rickards steps forward to defend gold as both an irreplaceable store of wealth and a standard for currency."--Provided by publisher.
A sequel to the best-selling Currency Wars predicts a coming collapse of the monetary system while counseling investors on how to survive it, arguing that the dollar will be at the center of a crisis that will differentiate money from wealth.
A Wall Street Journal and National Bestseller! The man who predicted the worst economic crisis in US history shows you how to survive it. The current crisis is not like 2008 or even 1929. The New Depression that has emerged from the COVID pandemic is the worst economic crisis in U.S. history. Most fired employees will remain redundant. Bankruptcies will be common, and banks will buckle under the weight of bad debts. Deflation, debt, and demography will wreck any chance of recovery, and social disorder will follow closely on the heels of market chaos. The happy talk from Wall Street and the White House is an illusion. The worst is yet to come. But for knowledgeable investors, all hope is not lost. In The New Great Depression, James Rickards, New York Times bestselling author of Aftermath and The New Case for Gold, pulls back the curtain to reveal the true risks to our financial system and what savvy investors can do to survive -- even prosper -- during a time of unrivaled turbulence. Drawing on historical case studies, monetary theory, and behind-the-scenes access to the halls of power, Rickards shines a clarifying light on the events taking place, so investors understand what's really happening and what they can do about it. A must-read for any fans of Rickards and for investors everywhere who want to understand how to preserve their wealth during the worst economic crisis in US history.
"Our global economy faces unprecedented challenges in the next few months. But whether we sink or swim depends on how prepared we are - and what we do now to thwart the coming collapse"-- Provided by publisher
