First published 2014
The international monetary system faces its fourth collapse in a century, and this time the institution of money itself hangs in the balance. James Rickards argues that the coming financial crisis will surpass anything in recorded history. Since World War II, the American dollar has served as the world's reserve currency, but no backup system exists with sufficient liquid assets to replace it. While Washington remains paralyzed by political gridlock, economic rivals including China, Russia, and Middle Eastern oil producers actively work to dismantle American monetary dominance. Rickards examines the mounting threats of financial warfare, deflation, hyperinflation, and market collapse. He reveals how ordinary savers have become unwitting test subjects in central banking experiments. The author demonstrates why money and true wealth have grown dangerously disconnected, with money becoming increasingly worthless while tangible assets retain permanent value. Rickards provides strategies for converting unstable currency into lasting stores of value like gold, real estate, and fine art before the inevitable collapse arrives.
Genres: business, politics, economics, non-fiction, 21st-century, finance
Vibes: suspenseful, thought-provoking
Tropes: gritty
368 pages · Hardcover · Portfolio