“The 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.”
The Death of Money is a book from writer James Rickards that discusses the potential of a future financial crisis like nothing that we have ever seen before. It does this, drawing on historical and economic evidence, demonstrating why a new economic collapse is on the horizon and why it could be serious enough to threaten the very ‘institution of money’.
Let’s take a closer look at the book and see if it’s a good read and whether It offers a convincing argument.
The core argument of this book is of course that we are heading for a world-changing financial collapse. The evidence for this is partly historical – according to the author it has collapsed in a big way three times over the past hundred years. Those times were in 1914, 1939 and 1971 and each of these crashes was followed by a significant period of civil unrest, war and damage to the economy.
Of course we’ve seen the start of a rather serious financial crash already but this book – written in 2014 – posits that it is only the very start of our troubles.
The American dollar has been the global reserve currency since WW2 ended. If it fails, the international monetary system fails. This is something that countries like China and Russia are pushing for, along with the mass oil-producing Middle East. The government is struggling to offer solutions for long term problems and things have been getting steadily worse over the past few years.
What Rickards provides here is a ‘bracing analysis’ of these threats. The book is designed to help advise readers on preparing for the death of money, to offer a sober picture of what that might entail and to provide actionable tips – like investing in gold!
As you might imagine for such a nightmare scenario, this book is highly engaging and very hard to put down. It is fast paced and electrifying, well-written and actually very useful even if there should never be a serious economic crisis.
As the Editor of the financial newsletter Strategic Intelligence, Rickards very much knows his stuff. This comes across in the book, which is actually a follow up to his other highly popular text Money Wars. Erudite and lucid, Rickards is the ideal guide to our potential financial future.
The book covers a very controversial topic and yet reviews are very positive on Amazon.
Reviews pointed out that the book was very novel in its approach and managed to be compelling and entertaining as well as balanced, honest and useful. The positive reviews are a testament to the excellent writing and structure and the nuggets of real wisdom within.
A great read and it comes highly recommended!Buy It On Amazon.com