{"product_id":"9781101558898","title":"Currency Wars: The Making of the Next Global Crisis","description":"In 1971, President Nixon imposed national price controls and took the  United States off the gold standard, an extreme measure intended to end  an ongoing currency war that had destroyed faith in the U.S. dollar.  Today we are engaged in a new currency war, and this time the  consequences will be far worse than those that confronted Nixon.\u003cp\u003e \u003c\/p\u003e\u003cp\u003eCurrency wars are one of the most destructive and feared outcomes in  international economics. At best, they offer the sorry spectacle of  countries' stealing growth from their trading partners. At worst, they  degenerate into sequential bouts of inflation, recession, retaliation,  and sometimes actual violence. Left unchecked, the next currency war  could lead to a crisis worse than the panic of 2008.\u003c\/p\u003e\u003cp\u003eCurrency wars have happened before-twice in the last century alone-and  they always end badly. Time and again, paper currencies have collapsed,  assets have been frozen, gold has been confiscated, and capital controls  have been imposed. And the next crash is overdue. Recent headlines about  the debasement of the dollar, bailouts in Greece and Ireland, and Chinese  currency manipulation are all indicators of the growing conflict.\u003c\/p\u003e\u003cp\u003eAs James Rickards argues in \u003ci\u003eCurrency Wars\u003c\/i\u003e, this is more than  just a concern for economists and investors. The United States is facing  serious threats to its national security, from clandestine gold purchases  by China to the hidden agendas of sovereign wealth funds. Greater than  any single threat is the very real danger of the collapse of the dollar  itself.\u003c\/p\u003e\u003cp\u003eBaffling to many observers is the rank failure of economists to  foresee or prevent the economic catastrophes of recent years. Not only  have their theories failed to prevent calamity, they are making the  currency wars worse. The U. S. Federal Reserve has engaged in the  greatest gamble in the history of finance, a sustained effort to  stimulate the economy by printing money on a trillion-dollar scale. Its  solutions present hidden new dangers while resolving none of the current  dilemmas.\u003c\/p\u003e\u003cp\u003eWhile the outcome of the new currency war is not yet certain, some  version of the worst-case scenario is almost inevitable if U.S. and world  economic leaders fail to learn from the mistakes of their predecessors.  Rickards untangles the web of failed paradigms, wishful thinking, and  arrogance driving current public policy and points the way toward a more  informed and effective course of action.\u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003ci\u003eFrom the Hardcover edition.\u003c\/i\u003e","brand":"Penguin Publishing Group","offers":[{"title":"Default Title","offer_id":47076999856368,"sku":"9781101558898","price":14.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/9781101558898_p0.jpg?v=1763687591","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/9781101558898","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}