Books about finance don’t come more riveting than Currency Wars by James G. Rickards. Part novel, part non-fiction, the Currency Wars book explains in chronological order the global wars fought over the decades, not with guns and oil but with currencies. In doing so it lays down the foundation for the next forecasted world implosion, which although is sparked by imagination is alarmingly full of insight and probability. Currency Wars reviews have applauded his work, with US Today commenting that it is, “Outside-the-box thinking…an important contribution to the nation’s economic dialogue…an invaluable resource”. Others speak with more trepidation about his predicted financial threats.
Currency Wars: Section One
The Currency Wars book is split into three sections. The first section has the characteristics of a novel as opposed to a financial book. In the section the author Rickards describes in detail his participation in an activity at the Warfare Analysis Laboratory. Usually the group is used by the defense department to simulate war games for planning strategies. However, the activity that Rickards was involved in had nothing to do with on the ground military action, rather military, academic and government interests participated in a simulated currency war that used currencies and capital to bolster power in certain regions. He contributed to this ‘currency war’ by offering advice on the markets. I won’t tell you what the outcome of the war is.
Currency Wars: Section Two
The second section of the book is more historical and outlines the events and conditions that led up to the first two currency wars (named CWI and CWII) in the twentieth century. Rickards also provides some valuable insight into the motivations that drove these wars. According to the book Currency Wars, CWI was fought between 1921 and 1936 and CWII between 1967 and 1987. Both of these wars were waged between countries of competing national interests. These currency wars forced competitive devaluations and government interventions with global finances.
Currency Wars: Section Three
It is noteworthy that gold reappears throughout the Currency Wars book. According to Rickards, the currency wars were largely caused by the end of the Gold Standard in the global currency market after World War II. It also comes into play in the final section of the book where he gives his explanation as to why the world is now fighting CWIII. He also analyses in details the possible outcomes of CWIII (paper, gold and or chaos), giving the reader much to think about after the book even after the book has been put down. Currency Wars does not only target those concerned with finance, but also those who are interested in the future of our world and who enjoy solid and insightful speculation.
Penny Munroe is an avid writer in currency trading news and tips and aims to encourage any currency broker or trader to practice responsible trading. Her interest in currency markets started after she opened her own Forex trading account with a foreign currency broker.