Currency Wars, Author: James Rickards.
By Steven C. Johnson – The book reads in places more like a post-apocalyptic nightmare story than a book on international finance. In Rickards’ worst case scenario, “a person’s net worth would consist of those things she can carry on her back.”
In the book, he recounts how he conducted a war game for the Pentagon in which the Russia team moves all its gold to a bank in Switzerland and decides to only accept payment for oil and gas in a new gold-backed currency, not in dollars.
“The Fed thinks they are playing with a thermostat – the house is too cool so we dial it up a little bit, now it’s too warm, so we dial it down,” Rickards said. “In reality, they are playing with a nuclear reactor. If you get it wrong, you’re going to have a meltdown.” more> http://is.gd/5q8Rn5
- Analysis: In a close-knit world, frontier debt loses out,
Carolyn Cohn, Reuters
- *Currency Wars* (marginalrevolution.com)
- JAMES RICKARDS: The Next Global Crisis Has Already Begun (businessinsider.com)
- Currency Wars: The Making of the Next Global Crisis (ritholtz.com)