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.”
international monetary system has collapsed three times 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 the global
economy. Now James Rickards, the acclaimed author of Currency Wars,
shows why another collapse is rapidly approaching—and why this time, nothing less
than the institution of money itself is at risk.
American dollar has been the global reserve currency since the end of the
Second World War. If the dollar fails, the entire international monetary system
will fail with it. No other currency has the deep, liquid pools of assets
needed to do the job.
have always said, in essence, that there’s nothing to worry about—that
confidence in the dollar will never truly be shaken, no matter how high our
national debt or how dysfunctional our government. But in the last few years,
the risks have become too big to ignore. While Washington is gridlocked and
unable to make progress on our long-term problems, our biggest economic
competitors—China, Russia, and the oil-producing nations of the Middle East—are
doing everything possible to end US monetary hegemony. The potential results: financial
warfare, deflation, hyperinflation, market collapse … chaos.
offers a bracing analysis of these and other threats to the dollar. The
fundamental problem is that money and wealth have become more and more
detached. Money is transitory and ephemeral, and it may soon be worthless if
central bankers and politicians continue on their current path. But true wealth
is permanent and tangible, and it has real value worldwide.
author shows how everyday citizens who save and invest have become guinea pigs
in the central bankers’ laboratory. The world’s major financial players—national
governments, big banks, multilateral institutions—will always muddle through by
patching together new rules of the game. The real victims of the next crisis
will be small investors who assume that what has worked for decades will keep
it’s not too late to prepare for the coming death of money. Rickards explains
the power of converting unreliable money into real wealth: gold, land, fine
art, and other long-term stores of value. Download and start listening now!