The full title of this book by Jim Rickards is
“The Death of Money: The Coming Collapse of the International Monetary System“.
In my review posted on Amazon.co.uk, I gave the book Four Stars. This means I think it is Good and Well Worth Reading.
Here is my book review.
If you weren’t paranoid about the financial situation before…
Interesting book from a finance “insider” who has also worked with the CIA and Department of Defense in the USA on tracking manipulation of the financial markets.
In clear view, the Federal Reserve, European Central Bank, Bank of Japan and the politicians around the world with a fragile understanding of economics are doing a good job of accidentally screwing up the modern financial system that provides the basis for our current prosperity.
Markets are so badly manipulated that it’s impossible to really understand where fair value currently lies for shares, bonds, property and gold. Are we heading for deflation and the debt chaos that will be created as the Ponzi financing comes tumbling down? Or will the central banks succeed in creating inflation? If so, it’s extremely doubtful that they will be able to control it.
Out of view, an even more frightening situation is developing as potential warfare between nations (and terrorism) turns away from the bullet and the bomb towards wreaking financial havoc by deliberately destroying the finance system.
In the shadows, not in secret but not reported well by the Western media, are attempts to replace the US Dollar as the world’s reserve currency.
After the rush to binge on debt over the last 20 or more years, everywhere you look, there is danger to the economic world as we know it. If 2008 was scary, the impending crisis will be even worse.
If you weren’t paranoid about the financial situation before reading this book, you will be afterwards.
I can’t see how things can carry on indefinitely. I was reading last week about an economist who believes that the only option is to keep borrowing more because society will collapse if we don’t. Unfortunately that just creates an even bigger problem for some time in the future. What a choice. Terrible pain now or even worse in the future.
If the system is doomed, how can you protect yourself and your family? the author recommends real assets like gold, land and fine art and a stack of cash to take advantage of the buying opportunities that will appear.
He’s preaching to the converted with me. I’m expecting big trouble but there is the issue of timing. While I wait, the markets keep going up. The politicians and public officials are doing a better job with the sticking plasters than I would have expected.
The book takes common themes that you’ve probably read about elsewhere. What may be new to you is that the author looks at them through the lens of complexity theory. Some things help to bring the system back under control but others force it out of control. It’s not an in-depth analysis but at least it’s a recognition of interconnectedness and feedback loops.
I’ve given the book a rating of four stars rather than five. Why?
It’s very detailed. parts of the book feel like a fast paced thriller but parts seemed tedious. If I wasn’t committed to understanding more about this hot topic, I could put the book to one side.
I don’t agree with the author’s positive views about the Eurozone region of the EU. I accept that there’s big commitment from the political elite to keep it together but I’m not sure the electorate is keen to pay the price of continually rebalancing economies or to follow federation through to the creation of a European superstate that tramples on local issues.
Finally I thought it was skimpy on solutions to protect individual wealth and pensions under the different scenarios of collapse.
The book’s increased my knowledge of what’s going on but hasn’t helped me to develop a strategy that gives me any comfort.
It is available to buy from Amazon.co.uk and Amazon.com.
[bestbooks]
Get To Know Me
[sos]
[6Steps]
