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Jim Rickards é autor de dois best-sellers do The New York Times, sua experiência se estende a mais de 35 anos trabalhando no mercado financeiro em Wall Street. No início dos anos 90, foi o homem designado pelo Banco Central Americano (Federal Reserve) para salvar todo o sistema financeiro de um colapso e actualmente supervisiona a NSA, a CIA, e outras 14 agências de Jim Rickards é autor de dois best-sellers do The New York Times, sua experiência se estende a mais de 35 anos trabalhando no mercado financeiro em Wall Street. No início dos anos 90, foi o homem designado pelo Banco Central Americano (Federal Reserve) para salvar todo o sistema financeiro de um colapso e actualmente supervisiona a NSA, a CIA, e outras 14 agências de inteligência dos EUA. De acordo com suas investigações, o próximo grande colapso do Sistema Financeiro Global se aproxima. Ele criará uma cratera de US$ 326 triliões na economia mundial, e levará ao caos, à agitação civil e aos motins em todo o mundo. Em última instância, levará à extinção da actual ordem mundial e à ascensão de uma nova ordem mundial governada por um pequeno grupo de elites globais. Elites que já ocupam altos cargos no FMI, no Banco Mundial e no Federal Reserve. Quando a crise chegar, eles congelarão o sistema financeiro global em apenas 48 horas, fechando cada banco e corretora no mundo. As pessoas ficarão sem acesso ao dinheiro ou mesmo às suas economias. Imagine ir ao seu caixa electrónico e encontrá-lo fechado – indefinidamente, ou tentar vender acções e encontrar sua conta de corretagem “off-line”. Quando as elites finalmente “descongelarem” o sistema, não vamos voltar para o sistema antigo, mas sim para um novo sistema determinado por eles – os Direitos Especiais de Saque ou DES. No livro O Caminho para a Ruína: O Plano Secreto das Elites Globais para a Próxima Crise Financeira, Jim Rickards revela todos os detalhes sobre os planos da Elite, e conta exactamente o que você deve fazer para se preparar. Ter em mãos a orientação certa fará toda a diferença.


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Jim Rickards é autor de dois best-sellers do The New York Times, sua experiência se estende a mais de 35 anos trabalhando no mercado financeiro em Wall Street. No início dos anos 90, foi o homem designado pelo Banco Central Americano (Federal Reserve) para salvar todo o sistema financeiro de um colapso e actualmente supervisiona a NSA, a CIA, e outras 14 agências de Jim Rickards é autor de dois best-sellers do The New York Times, sua experiência se estende a mais de 35 anos trabalhando no mercado financeiro em Wall Street. No início dos anos 90, foi o homem designado pelo Banco Central Americano (Federal Reserve) para salvar todo o sistema financeiro de um colapso e actualmente supervisiona a NSA, a CIA, e outras 14 agências de inteligência dos EUA. De acordo com suas investigações, o próximo grande colapso do Sistema Financeiro Global se aproxima. Ele criará uma cratera de US$ 326 triliões na economia mundial, e levará ao caos, à agitação civil e aos motins em todo o mundo. Em última instância, levará à extinção da actual ordem mundial e à ascensão de uma nova ordem mundial governada por um pequeno grupo de elites globais. Elites que já ocupam altos cargos no FMI, no Banco Mundial e no Federal Reserve. Quando a crise chegar, eles congelarão o sistema financeiro global em apenas 48 horas, fechando cada banco e corretora no mundo. As pessoas ficarão sem acesso ao dinheiro ou mesmo às suas economias. Imagine ir ao seu caixa electrónico e encontrá-lo fechado – indefinidamente, ou tentar vender acções e encontrar sua conta de corretagem “off-line”. Quando as elites finalmente “descongelarem” o sistema, não vamos voltar para o sistema antigo, mas sim para um novo sistema determinado por eles – os Direitos Especiais de Saque ou DES. No livro O Caminho para a Ruína: O Plano Secreto das Elites Globais para a Próxima Crise Financeira, Jim Rickards revela todos os detalhes sobre os planos da Elite, e conta exactamente o que você deve fazer para se preparar. Ter em mãos a orientação certa fará toda a diferença.

30 review for The Road to Ruin: The Global Elite's Secret Plan for the Next Financial Crisis

  1. 4 out of 5

    Pedro L. Fragoso

    A serious contender to the prize of most important book of the year. Timely, serious, intellectually honest, with deep, articulate reflections (that Rickards have been honing in these last years, through articles, interviews and books) about the true state of the world, as filtered through its inerent complexity and lurking dangers -- and what can be individually made for preparation purposes. All in all, I was surprised by the quality of the effort; I should probably have known better, as A serious contender to the prize of most important book of the year. Timely, serious, intellectually honest, with deep, articulate reflections (that Rickards have been honing in these last years, through articles, interviews and books) about the true state of the world, as filtered through its inerent complexity and lurking dangers -- and what can be individually made for preparation purposes. All in all, I was surprised by the quality of the effort; I should probably have known better, as Rickards managed to systematically win me over, time and again, with observations of this calibre: "Injustice has always existed. The poor are always at a disadvantage to the rich when it comes to defending themselves in court. Still, what’s happening today—not only in New York, but throughout America—is new. It is not mere injustice, it is institutionalized, systematic injustice supported by military-grade armor and tactics. The injustice is driven not merely by bad intent, but by a need for money. The system now feeds on itself, unable to pay its way. Inputs exceed outputs, marginal returns are negative. Wealth extraction replaced wealth creation as the way to get along. This is the endgame of a complex dynamic system past the point of no return." There is much more. For instance: "Free market approaches do not work for banks because banks are subsidized, insured, regulated, and implicitly guaranteed. Modern banks are the opposite of free market institutions, so different approaches are needed. This seemed lost on the Bush Treasury." Or: "They are warnings—tremors ahead of a misfortune beyond imagining. This is not conjecture, but an expected outcome given the system dynamics. This outcome is not inevitable. Still, it is likely. To step back from the brink requires smaller banks, fewer derivatives, less leverage, and sound money, perhaps with reference to gold. None of these remedies is in prospect; a systems failure is." "Fascism is not in our future, it is here now." Absolutely brilliant essay on the most fundamental issue of the age.

  2. 4 out of 5

    Kressel Housman

    Before reading this book, my biggest financial worries were about paying down my credit card and saving for retirement, but now Im worried if Ill ever be so blessed as to reach old age. This book makes the highly plausible argument that the next financial crisis is right around the corner, and not only will it be more devastating than the last one, it may be even worse than the Great Depression. Printing money and deficit spending wont work anymore, so the next tool in the financial elites Before reading this book, my biggest financial worries were about paying down my credit card and saving for retirement, but now I’m worried if I’ll ever be so blessed as to reach old age. This book makes the highly plausible argument that the next financial crisis is right around the corner, and not only will it be more devastating than the last one, it may be even worse than the Great Depression. Printing money and deficit spending won’t work anymore, so the next tool in the financial elite’s arsenal is a bank freeze. As the book puts it, everyone’s bank accounts will be like precious jewels behind a locked glass case. You’ll be able to see your money, but you won’t be able to access it. When that happens, people will be looting the supermarkets and rioting in the street. The author’s advice is to keep ready cash around and invest in gold for the long term, but stocking up on gas, water, and canned food seems more within my reach. Gold may be good for preserving wealth, but it’s the basics of survival that I’m worried about. Now, I’ll admit that there were large sections of this book that flew right over my head. There were also parts that raised my doubts. The author seems to consider almost every American president since Wilson a fascist. He acknowledges that none of them were murderous, like Hitler, but they all believed in a powerful state. He even called President Obama’s community organizing approach fascistic, but to me it seems like democracy in action. Still, in spite of that point of disagreement, I believe him. The next financial crisis will be bad, the sort of thing I’ve read about in history books but never thought would happen in my lifetime. Does reading this book mean I’m more prepared for it? I’d like to think so, but I’m probably kidding myself. So, important book, but a terrible way to end the year.

  3. 4 out of 5

    Owlseyes

    (inspirational for Rickards) (The Economist, issue of 1988) (Chaos...theory) "A financial crisis is certainly coming. In The Road to Ruin, I use 2018 as a target date and device because the two prior systemic crises, 1998 and 2008, were 10 years apart. I extended the timeline 10 years into the future from the 2008 crisis to maintain the 10-year tempo, and this is how I arrived at 2018. Yet I make the point in the book that the exact date is unimportant. What is most important is that the (inspirational for Rickards) (The Economist, issue of 1988) (Chaos...theory) "A financial crisis is certainly coming. In “The Road to Ruin,” I use 2018 as a target date and device because the two prior systemic crises, 1998 and 2008, were 10 years apart. I extended the timeline 10 years into the future from the 2008 crisis to maintain the 10-year tempo, and this is how I arrived at 2018. Yet I make the point in the book that the exact date is unimportant. What is most important is that the crisis is coming and the time to prepare is now. It could happen in 2018, 2019, or it could happen tomorrow. The conditions for collapse are all in place." James Rickards in: http://www.marketwatch.com/story/jame... Rickard's recommendation:

  4. 5 out of 5

    Jim Crocker

    This book is the economic theory book I've been looking for all my post-Keens life (misspelling intentional). I was so excited to see Bayes' theorem show up in there, too. Now I got this one from the library, but it's gonna be a slow read for me, allowing for everything to sink in real good. Therefore, I will be purchasing a hardcopy so I can underline and mark it up! HAHAHA. Hopefully, I will still be laughing by the end. I know that sounds ominous, but whaddaya gonna do, given the subject This book is the economic theory book I've been looking for all my post-Keens life (misspelling intentional). I was so excited to see Bayes' theorem show up in there, too. Now I got this one from the library, but it's gonna be a slow read for me, allowing for everything to sink in real good. Therefore, I will be purchasing a hardcopy so I can underline and mark it up! HAHAHA. Hopefully, I will still be laughing by the end. I know that sounds ominous, but whaddaya gonna do, given the subject matter and all. Check what's going on with your Facebook stock. I will put this up on my online store in a few seconds, where I can buy it and you can, too: http://blackdogebooks.com/redhot-pick

  5. 5 out of 5

    Adrian

    The Road to Ruin is quite simply a cutting-edge account of the current economic situation, and stands high on several strengths. First of all, it is very readable whilst being sufficiently academic. Financial newcomers may be lost in jargon, but Rickards does not overwhelm the reader. Secondly, it is very well informed. Researched is not the correct word, although Rickards clearly backs his work up with up to date sources, however, it is informed in the sense that Rickards is no industry The Road to Ruin is quite simply a cutting-edge account of the current economic situation, and stands high on several strengths. First of all, it is very readable whilst being sufficiently academic. Financial newcomers may be lost in jargon, but Rickards does not overwhelm the reader. Secondly, it is very well informed. Researched is not the correct word, although Rickards clearly backs his work up with up to date sources, however, it is informed in the sense that Rickards is no industry outsider, quite the opposite. He has served at the highest levels of banking, and converses with the very highest people. Thirdly, it makes sense. Early on, Rickards establishes that Economics, while being a science, is not practiced as such as economists behave like dogmatists, obfuscating information and data that does not hold with their preconceived theories. As such, the same risk models, algorithms, and practices that led to the crash of 2008 are firmly in place. Rickards details the 1998 collapse of Long Term Capital Management as a model for the crash of 2008, model in the sense that central bankers, policy elites, and the financial community could have learned the lessons from 1998, but ignored them. Rickards work is both an overview of the systemic flaws in the world financial system, and something of a divination into what may come. The scenario he lays out is harsh and unsettling, wherein he posits that elites will roll out a universal asset freeze and halt of the global economy, and this will be backed up with the full force of the state, using policing tactics which may sound harsh to the unfamiliar, but as Rickards illustrates, are already widely practiced. Rickards work may draw raised eyebrows, skepticism and disagreement, but whether one agrees with his book or not, it stands on its own merits as a well written, well argued and well informed critique of the global financial system, and stand tall it does.

  6. 4 out of 5

    عمر

    The book provide interesting facts which we dont see in the massive media avalanche around us everyday, the author collected pieces and evidences for next coming financial collapse which will let to what he called an ice-nine scenario in which the so called elite will freeze the entire financial system worldwide and proceed on extreme inflation to cleanup sovereign debts around the world. I found essential his explanation of Bayes and complexity theories to forecast financial crisis, SDR as the The book provide interesting facts which we don’t see in the massive media avalanche around us everyday, the author collected pieces and evidences for next coming financial collapse which will let to what he called an “ice-nine” scenario in which the so called “elite” will freeze the entire financial system worldwide and proceed on extreme inflation to cleanup sovereign debts around the world. I found essential his explanation of Bayes and complexity theories to forecast financial crisis, SDR as the new IMF money, which may replace all currencies after collapse. Interesting critics to famous economics schools classical, Austrian, Keynesian and monetarist then Historical with good material regarding gold importance to hold in individual wealth as a protection against inflation and collapse. He gave following time frame for next crash: - Capture the banking system, 2009–10 - Redistribute gold to China, 2009–16 - Redenominate the SDR, 2015–16 - Print and distribute SDRs, 2017–18 - Destroy debt by inflation, 2018–25 And advised individual to have following Robust all-weather portfolio: - Coins and Bars of gold and silver, 10%; - Cash, 30% - Real estate, 20% (income producing or agricultural) - Fine art fund, 5% (museum quality only) - Angel and early venture capital, 10% - Hedge funds, 5% - Bonds, 10% - Stocks, 10% (natural resource, mining, energy, utilities, tech only) I think you can skip Chapter four (1998 crisis) as the author went in too much details because he was working in LTCM firm and he could make it briefer.

  7. 5 out of 5

    Peter Corrigan

    One of the most educational yet depressing reads. Ever. I have always passed by books of this ilk, preferring to lose myself in the distant past or some interesting yet fundamentally irrelevant topic. And to read this during the roll-out of the very type of catastrophe he predicts, was especially disheartening. Did I cause it by reading this? Although that calamity is still unfolding, Jim Rickards makes the case that it was inevitable given the flawed 'design' and insane fragility of our global One of the most educational yet depressing reads. Ever. I have always passed by books of this ilk, preferring to lose myself in the distant past or some interesting yet fundamentally irrelevant topic. And to read this during the roll-out of the very type of catastrophe he predicts, was especially disheartening. Did I cause it by reading this? Although that calamity is still unfolding, Jim Rickards makes the case that it was inevitable given the flawed 'design' and insane fragility of our global economic system. Call it a Black Swan or whatever, a shock (epidemic, pandemic, who cares?) such as the ongoing COVID-19 is all it will take to cause the next great financial collapse making 2008 and 1998 trivial by comparison. Just as I enter retirement--great. The author has real credentials to write with authority about all this. He was at Citibank during the Walter Wriston era and knows how the mega-banks operate and he actually worked at LTCM, the hedge fund (from my hometown in CT) that nearly broke the financial system in 1998. You finally learn who the 'Elites' are and most assuredly I (and probably you) are not among them. As he points out, it is a small, select club that will do anything to protect its own obscene share of global wealth. Call it the Davos crowd, the Wall Street crowd, or the Harvard/Yale crowd (every current member of the U.S. Supreme Court went to one or the other for law school). Perhaps the only criticism I might level against this valuable tome is that his solutions for weathering the coming storm seem oriented toward the very elites he purports to disdain. How many 'average' Americans can be expected to invest in fine art? Or land that appreciates like in the enclaves of wealth (where real estate is already beyond the reach of all but a tiny..elite!). Still this is a very educational and sobering look at the reality of the shaky (at best) world financial system. Apparently this was the third in a four-part series on this complex subject and his fourth, 'Aftermath' was published in 2019. No doubt even more terrifying than this one, great.

  8. 4 out of 5

    Matthew

    A few concepts I found interesting: The "ice 9 doctrine" is worth understanding. If he's right, you'll need to hedge yourself to not become a casualty. Schumpeter's gale. Creative destruction. Companies compete not with each other, but the future. Schumpeter's view that socialism would triumph over capitalism and why. What fascism is... and how president Woodrow Wilson was a model for Mussolini and others. Why the next financial crisis is inevitable, why it'll be qualitatively different than 2008 A few concepts I found interesting: The "ice 9 doctrine" is worth understanding. If he's right, you'll need to hedge yourself to not become a casualty. Schumpeter's gale. Creative destruction. Companies compete not with each other, but the future. Schumpeter's view that socialism would triumph over capitalism and why. What fascism is... and how president Woodrow Wilson was a model for Mussolini and others. Why the next financial crisis is inevitable, why it'll be qualitatively different than 2008 and (marginal) ideas for how investors might protect themselves.

  9. 5 out of 5

    David Schumacher

    Not too sure about this author, he seems very bright and knows many people in high finance but his views on AGW seems to come right out of the conspiricy theorists camp.

  10. 4 out of 5

    vasu kapoor

    What an eye opener this book was. Really puts into perspective your daily routine. It makes more sense reading this than my bachelors degree in engineering and I am not even kidding. Ends up raising more questions and eyebrows than answers. But that is the idea isnt it, to spread awareness of the global systemic risks and the indifference of the people in power towards the same. 10/10 would recommend. What an eye opener this book was. Really puts into perspective your daily routine. It makes more sense reading this than my bachelor’s degree in engineering and I am not even kidding. Ends up raising more questions and eyebrows than answers. But that is the idea isn’t it, to spread awareness of the global systemic risks and the indifference of the people in power towards the same. 10/10 would recommend.

  11. 5 out of 5

    Warren Mcpherson

    Smart and well informed, the book has many very interesting insights. I agree with many of the conclusions. However, it also seems drama seeking, undisciplined, and not very well written. The basic criticism of modern financial analysis is largely valid. Failed theories can survive far too long. I don't think the author is unique in observing this but he does a good job of demonstrating several poignant cases. The term "Ice Nine" comes from science fiction here it seemed overused. Sometimes Smart and well informed, the book has many very interesting insights. I agree with many of the conclusions. However, it also seems drama seeking, undisciplined, and not very well written. The basic criticism of modern financial analysis is largely valid. Failed theories can survive far too long. I don't think the author is unique in observing this but he does a good job of demonstrating several poignant cases. The term "Ice Nine" comes from science fiction here it seemed overused. Sometimes applied to guaranteed instruments, and sometimes to equities. Generally reflecting market contagion, peppered with conspiracy theory. Bank failures in Iceland and Cyprus were portrayed as terrible injustices perpetrated by governments. There may be a case to be made, but the government didn't take the money. There were several cases like this where the drama seemed to be overdone. With the amount of debt that is likely to go sour in the future, I felt the hyperbole did the case a disservice because I expect the truth of future write-downs to be very painful. He tries to portray the human face of inequality and injustice today in America. Showing a remarkable contrast to the indifference of the ruling class. It's hard to use a brief vignette to convincingly deal with such a deeply emotional issue. The author provides a cautionary example of a defective understanding of fascism. Academics invest in definitions precisely because a good definition can help your analysis focus correctly on the key element of a critical issue. An over-broad definition, in this case, stems from political discussions in America in the 30s. These discussions had not benefited from information and extensive analysis that would come later. The defective definition leads to seeing commonalities in too many places. The author claims that George Bush's "no child left behind" policy and Hilary Clinton's "it takes a village" politics are examples of fascism. I find it odd this made it to press. I feel it reflects deep ignorance or fundamental dishonesty. Comparisons to previous civilizations that have collapsed are probably appropriate. I have seen other commentators make very compelling parallels. But this is a complex argument and in order to make it convincingly, there are many points that need to be made. I suspect this abbreviated version would not convince anyone not already familiar with the argument. At times complexity theory seemed to be an excellent vehicle. But complexity theory should not obfuscate things that are simple. There is an astonishing amount of debt in our society that is not going to be serviced. The fact that there is something seriously wrong is the absolute truth of the book. I respect its anger but the drama often felt contrived and tiresome.

  12. 4 out of 5

    Skyqueen

    Well I did something with this book I've never done before. I read it from the back forwards, chapter by chapter. I felt there was not much time and I needed to know how it all ends before it actually does and I'm caught off-guard, unprepared, in-the-middle!! So sure enough, I can sum it up this way: THE CACA IS GOING TO HIT THE FAN AND VERY SOON!! Probably by 2018 as it is going now. Rickards does a very good job of explaining the steps which will definitely make you angry with the ineptness of Well I did something with this book I've never done before. I read it from the back forwards, chapter by chapter. I felt there was not much time and I needed to know how it all ends before it actually does and I'm caught off-guard, unprepared, in-the-middle!! So sure enough, I can sum it up this way: THE CACA IS GOING TO HIT THE FAN AND VERY SOON!! Probably by 2018 as it is going now. Rickards does a very good job of explaining the steps which will definitely make you angry with the ineptness of the powers that be and how we are all puppets to their greed for power and control at our expense for which they care not a whit! His chapter on Capitalism was unique. There are a lot of technical, economic, financial terms that are a little confusing, but really he is just saying that there is basically nothing new under the sun, only known by different names. Just variations of intensity, breadth, and depth. Of which this will be monumental because of the complexity theory to which he has put a mathematical formula, and nothing like the world has ever experienced. That to every thing there is a season. Which is to say, everything is cyclical. It is borne of necessity, grows, expands, then outlives its purpose or usefulness, or self-implodes, and dies, only to be reborn again in a same but different way. Hopefully better. But it's going to take a loooong time for that to cycle through to the rebirth part. So, basically our economic, WORLDWIDE, system is going down. There will be a LOT of chaos, and even bloodshed, and yes probably here in the U.S. too. Your money may be confiscated, but certainly ICE-9'd or frozen without warning! Things will evolve like an earthquake of dominoes and once ut starts this time cannot be stopped. We have come very close several times already to a complete collapse. This next time, it. wiil. be. lethal. and complete. Of course, he knows how to stop or change it, but nobody is listening to him. So he does give you some tips on how to protect yourself as much as possible. He kind of puts himself in the same boat as you/us way down on the 'rich pole', but then also tells you how he interacts with his rich friends or powerful leaders. I'm not begrudging him that. It's just kind of comical and a little awkward when he throws in where they are dining and on what, as if he is just a regular, social guy in the midst of this very serious situation. He does say we will survive overall, just as we always have, but there will be a lot of damage to individuals and society as a whole. You should read it and do the best that you can. At least you won't be surprised. We are definitely not doing as well as they would lead you to believe.

  13. 5 out of 5

    Daniel

    Rickards used to work in LTCM so he has first hand experience in the finance industry. This book has many parts. The first part talks about the new power of governments across the world to freeze money flow post-2008. Digital assets can be easily frozen or confiscated, as many sanctioned governments had found out. This only physical gold bars or works of Art, and land ownership certificates are worthy to keep. The second part is about the folly of the current economic thinking. Everything is Rickards used to work in LTCM so he has first hand experience in the finance industry. This book has many parts. The first part talks about the new power of governments across the world to freeze money flow post-2008. Digital assets can be easily frozen or confiscated, as many sanctioned governments had found out. This only physical gold bars or works of Art, and land ownership certificates are worthy to keep. The second part is about the folly of the current economic thinking. Everything is wrong. Only complexity theory can explain the current system. Post-2008, interest rates have become 0 or negative, and central bank has expanded the money supply. As a result debt has grown far more than GDP growth. This debt bubble is not sustainable. Rickards predicts that another crisis is not far away. He suggests that banks must become smaller, and retail banking must be separate from investment banking again. All credit swaps must be made open so that risks can be assessed properly in a crisis. From here the book takes a rather strange turn. The third part is about the problem of free trade which has decimated the American middle class. He suggests that tariffs of 30% be slapped on all imports, all corporate tax scrapped, and minimum wage be raised. He argues that this will benefit America, and will stop mercantilist countries from profiting from their currency war. The forth part is about the evolution of capitalism to ultimate socialism, and the state having too much power and ultimately turning to fascism. He believes that the global elite is going to destroy the world. I like his analysis, but not the solutions.

  14. 5 out of 5

    Jeff

    This book is upsetting and frustrating, but a must-read (and re-read) for those looking for a counter view to what is provided by big liberal media about the future of our financial system. Excellent explanation of chaos theory and the financial markets as complex systems: in a complex system, a small change in input can have a wildly divergent outcome. Important and eye-opening concept of "ice-9" where the next financial elite tactic is to freeze our assets, ramp up inflation as to eliminate This book is upsetting and frustrating, but a must-read (and re-read) for those looking for a counter view to what is provided by big liberal media about the future of our financial system. Excellent explanation of chaos theory and the financial markets as complex systems: in a complex system, a small change in input can have a wildly divergent outcome. Important and eye-opening concept of "ice-9" where the next financial elite tactic is to freeze our assets, ramp up inflation as to eliminate sovereign debt resulting in a mass transfer of wealth. While I'm no subject matter expert in economics (and I did find some content difficult to understand), there is too much evidence in this book and others to ignore that the next financial collapse could happen soon, very soon. And we're not talking 2008 "crisis", this will be a full collapse not seen for generations. I feel slightly more prepared for the collapse, certainly in terms of awareness and I have a better idea of how to try to avoid the big freeze.

  15. 4 out of 5

    Benjamin Page

    Impressively written and published. This book contains info from only months or sooner before its publication date. It's obvious that a lot of research, experience, passion, care, and hard work went into the creation of this book. If nothing in this book was true, it would still be a must-read in my opinion, but I believe we are in for some interesting times and some hard decisions in the very near future. You may not like what you learn in this, but just as "God is no respecter of persons" Impressively written and published. This book contains info from only months or sooner before its publication date. It's obvious that a lot of research, experience, passion, care, and hard work went into the creation of this book. If nothing in this book was true, it would still be a must-read in my opinion, but I believe we are in for some interesting times and some hard decisions in the very near future. You may not like what you learn in this, but just as "God is no respecter of persons" (Acts 10:34), neither is the truth. Even if the premise of this book were to be wrong, you can still learn a lot from it.

  16. 5 out of 5

    Emily

    This review has been hidden because it contains spoilers. To view it, click here. This is a thoughtful examination of the current world global markets. As an individual with no background in economics, some parts were difficult for me to grasp but I was able to easily grasp he conclusion. It's been about 1500 years since the last financial crash end of Bronze Age etc and certain market problems (negative interests rates) will make our cash unavailable to us and driverless cars and social injustice will leave those of us on the bottom of the rung defenseless against this crash This is a thoughtful examination of the current world global markets. As an individual with no background in economics, some parts were difficult for me to grasp but I was able to easily grasp he conclusion. It's been about 1500 years since the last financial crash end of Bronze Age etc and certain market problems (negative interests rates) will make our cash unavailable to us and driverless cars and social injustice will leave those of us on the bottom of the rung defenseless against this crash and the richest .01% who are able to invest in tangible things (GOLD, real estate, art) will be the only ones who can defend against the crisis.

  17. 4 out of 5

    John

    So great, theres a wide spread from dinners with top level BlackRock friends, awesome bits on his time at LTCM, buying Picasso sketches as the lightest way to quickly move ~$20-100k on a plane, and scary warnings about how the police and SWAT teams are abusing the poor and taking liberties with everyone. So great, there’s a wide spread from dinner’s with top level BlackRock friends, awesome bits on his time at LTCM, buying Picasso sketches as the lightest way to quickly move ~$20-100k on a plane, and scary warnings about how the police and SWAT teams are abusing the poor and taking liberties with everyone.

  18. 4 out of 5

    Mehmet Utkan

    Complexity theory in action Do you ever wondered why India demonetized. Is FDR a fascist or democrat. What is unique about Schumpeter theories pointing to end of capitalism. US citizens are prohibited from buying physical gold Read this book for dystopian but realistic vision..

  19. 4 out of 5

    Daniel Olshansky

    This is the second book I've read by Jim Rickards, and I absolutely love it! My favorite way to study history is from an economic point of view, so Jim's books are perfect. His deep knowledge of statistics, economics, physics and chaos theory, along with his experience in the private finance sector, as well as advising major political figures or the CIA is astounding. The way he disseminates his knowledge, shares life experiences, and analyzes the economic make this book educational, captivating This is the second book I've read by Jim Rickards, and I absolutely love it! My favorite way to study history is from an economic point of view, so Jim's books are perfect. His deep knowledge of statistics, economics, physics and chaos theory, along with his experience in the private finance sector, as well as advising major political figures or the CIA is astounding. The way he disseminates his knowledge, shares life experiences, and analyzes the economic make this book educational, captivating and simply entertaining. There was never a dull moment, and I'm continuously amazed by how much Jim has and continues to achieve throughout his life. I'll probably forget most of the details, but the book really added to my grand understanding of how the economy functions. There are a few things that stood out. Being too big to fail is indeed possible, and G-SIFI is its name. World money (a global currency) is likely to appear at some point in the future, which makes me all the more bullish on Bitcoin. With that said, gold still has a place in everyone's portfolio. The chapter about LTCM's downfall really reminded me of Liar's poker and was interesting to read. He painted a good picture (no pun intended) about the importance of art in an individual's portfolio; very similar to land and gold when you look at it from a scarcity point of view. I don't think I'll ever re-read this book since Jim keeps pumping out new books every year, but I would highly recommend it to anyone interested in learning about the state and history of the economy.

  20. 4 out of 5

    Void lon iXaarii

    I awaited this book with so much excitement based on the author's previous great books but upon finishing it I must say it fails short of the epic analysis done in the author's previous books "Currency Wars" and even "The Death of Money". It's probably not a bad book for somebody who didn't read the others, but for me it felt too much of the same, too few new ideas, too much recap and 2x as much personal stories and trivial descriptions of events from the author's life contacts. They're I awaited this book with so much excitement based on the author's previous great books but upon finishing it I must say it fails short of the epic analysis done in the author's previous books "Currency Wars" and even "The Death of Money". It's probably not a bad book for somebody who didn't read the others, but for me it felt too much of the same, too few new ideas, too much recap and 2x as much personal stories and trivial descriptions of events from the author's life contacts. They're interesting and maybe add authority, but not as valuable compared to the solid analysis, reasoning and predictions based on new data that I was hoping for. I guess it's meant to be/is more of an introduction to a new reader, which i guess makes sense, though I still think it's not as solid an introduction. That being said I think the book is full of very interesting things, a lot of thinking and solid reasoning and some very useful and insightful perspective lenses for viewing these decades of history. Random memories and thoughts on it: - again nice argumentation on how the author's statements are not radical but rather historically common on longer timescales, such as the periodic reforming of the international world order, particularly a currency one - there's a lot of talk about complexity theory, which i think is mostly right both in essence and in nice examples, howeeeever it feels overdone and used too much in a religious ways instead of more complex reasonings/maybe data that he can't afford to release so he's trying to talk around the edges? - a very insightful presentation of the interest groups of those in power and how they differ sometimes from that of those who pay the taxes, and thus the rational divergence in goals and approaches - some interesting insights as to what seem likely actions in the next crisis, in particular in the freezing of assets department for purposes of extra taxation/confiscation based on ruling needs. Here too, though one might be tempted to dismiss the author as a conspiracy theorist one finds the same issues being treated in very serious circles (even public papers: IMF, FED, ECB, BIS and the politics around them including the media communication strategy to prepare the masses for these events), though of course on a different tone as rational solutions to guiding the masses into desired outcomes. - some more interesting insights about world geopolitics. - interesting historical moment stories - nice explanations of the incentives and operation processes of financial institutions, banks, and governmental finance departments - As with the past couple of books i felt the author might've lost some spine in presenting some issues, maybe he was too direct on some of them, so in this book he seemed to me to somewhat backtrack on some issues or take a more politically correct modern position. Also more of the previous american nationalistic perspective. I'm curious how he views the new president's actions, not that that really matters in the big scope of the more important things, still, they might create the context for the steps of a world turning from a cooperation to a competition game theory approach - nice discussions about old money vs new money perspectives and approaches - has some controversial position on classical economics, seems persuasive for a few moments but at times his arguments felt fishy and slippery, unlike some of the classical ones he was opposing. - i was surprised by his perspectives on old roman dictatorship and present day America, the tension between police confiscations as sources of revenue and taxes on the poor/particularly the black population - i found particularly interesting his discussion based on Joseph Schumpeter's historical approach in arguing that indeed capitalism does fall to socialism, but not because it's good but because it creates the abundance and wealth that then invites the wasteful destruction, interesting to see that idea picked up in modern times and based on contemporary events, all fitting so well in the author's thesis of the elite's interests and their alliance with the popular masses to secure their continued wealth and prosperity by destroying the middle class. This makes historical sense given the ancient persistent examples of kings and peasants forming a killer alliance to engulf those between, something indeed noticeable historically in the past decades with the middle class being taxed into either poverty except for those who manage to rise into the favor of the state. Also On this transition he touches an idea I had only heard from Mises before, that of the pretty much identity and continuity between leftist and fascist ideas due to both similarity of goals and necessities, something indeed often overlooked today in the popular left-right discussions that ignore the necessities of action and the logical conclusions of trains of thought when applied to real world people. Overall I found it an interesting book with a tons of interesting stuff, just not as good as "Currency Wars" or at least not having in 2016-2017 as much of a knowledge data package based on the new events since then as I was hoping for, which left me a bit disappointed although overall it was a better than average book.

  21. 5 out of 5

    Rad

    I actually enjoyed this book more than I thought I would, knowing of this author from all the interviews I have seen over the years. There are a lot of information within it. The less you really know about the tentacles of the financial organized crime syndicate, the more you will enjoy this book. Not to minimize prior parts of the book, the best part for me were chapter 8, which really sheds light on American history in political fascism, and chapter 9, which really gives advice how to protect I actually enjoyed this book more than I thought I would, knowing of this author from all the interviews I have seen over the years. There are a lot of information within it. The less you really know about the tentacles of the financial organized crime syndicate, the more you will enjoy this book. Not to minimize prior parts of the book, the best part for me were chapter 8, which really sheds light on American history in political fascism, and chapter 9, which really gives advice how to protect yourself, regarding your financial portfolio, even if you only have 10k saved. This is not an all encompassing financial advice on this subject. If you have massive debt and a host of other problems, from its title, it is not the book to help you. It is about the global economic ruin, and hence it will be the total global ruin, how we got here, why, and where we are going. I particularly like the scientific approach that the author takes to study events of the past and present, and examine the effects of policy on the flow of events within last century. I really enjoyed learning about the science behind it. I highly recommend this book, but read it now if you have not; times are changing fast. Also, I look forward to the next book in the planned quartet "Aftermath" (https://www.goodreads.com/book/show/3...).

  22. 5 out of 5

    Sylv C

    Alarmist and highly biased BUT I would still recommend a read (unless you're already a diehard gold bug / Austrian economist) simply because of the wealth of information presented that one won't find in mainstream literature. The central banking experiment is foolish as command and control systems seldom work, as already evidenced by central planners in Communist regimes. Should governments "gate" liquidity in a crisis? Probably so if for purely altruistic reasons, as many financial crises have Alarmist and highly biased BUT I would still recommend a read (unless you're already a diehard gold bug / Austrian economist) simply because of the wealth of information presented that one won't find in mainstream literature. The central banking experiment is foolish as command and control systems seldom work, as already evidenced by central planners in Communist regimes. Should governments "gate" liquidity in a crisis? Probably so if for purely altruistic reasons, as many financial crises have been needlessly caused by the sudden outflow of capital unrelated to the fundamental health of an economy (19th century American panics come to mind as a result of unrelated events in Europe eg Crimean war). But obviously, there is room for misuse here, and government behavior hasn't given savers much confidence (Greece etc). In any case, read the book. But don't make it the only one you read on the subject, or it could inspire (in my view) an excessive focus on the black swans and a potentially counterproductive mindset to balanced long-term investing, which after all, requires some faith in political and financial systems. Rickards also occasionally drifts off into unbalanced-sounding rambling where he treat central bankers (whom he calls "the global elite") as some sort of cohesive, cultist, amorphous "bloc", ignoring the reality these are human beings who answer to different political bosses, have different incentives and goals, and are probably as concerned with covering their asses and not being known as the captain of the Titanic as any regular Ivy league educated bureaucrat.

  23. 4 out of 5

    Josh

    This book was pretty typical Rickards. A lot of the same concepts from his other books are repeated *excessive money printing will lead to a large crisis than 2008 or 1998 *fiat money is problematic due to no tie to an asset backing it (such as gold) *the fed and other institutions are using outdated models without contemplating complexity theory *keep 10% of your assets in gold *there are many more, but one of the interesting points that he hadn't covered in the past was portfolio asset allocation. This book was pretty typical Rickards. A lot of the same concepts from his other books are repeated *excessive money printing will lead to a large crisis than 2008 or 1998 *fiat money is problematic due to no tie to an asset backing it (such as gold) *the fed and other institutions are using outdated models without contemplating complexity theory *keep 10% of your assets in gold *there are many more, but one of the interesting points that he hadn't covered in the past was portfolio asset allocation. He effectively called for a tiny allocation of equities (10%), with land, art, inflation-protected bonds and gold all carrying a portion of the model portfolio The book spends a ton of time talking about how "elites" are leading us all on a path to ruin. Of course, the money printing is part of that, but he goes much further. Clearly income disparity and political power do more harm than good to non-elites, and I'm sure much of what he says has truth to it, but some of it comes across as alarmist (I guess it seems that way until something terrible happens, and then it just becomes the truth). Overall a good read, maybe just a notch below how much I enjoyed his others.

  24. 4 out of 5

    Conrad

    The title makes the book sound more conspiratorial than it really is because the plan really isn't that much of a secret. Suffice it to say that if and when we have another major financial catastrophe the chances are that the entire financial system (nationally? globally?) will get locked down. He suggests that we are moving steadily toward a one world financial system which will be controlled by the IMF. He makes a pretty good case for his argument and seems to have his finger on the pulse. The title makes the book sound more conspiratorial than it really is because the plan really isn't that much of a secret. Suffice it to say that if and when we have another major financial catastrophe the chances are that the entire financial system (nationally? globally?) will get locked down. He suggests that we are moving steadily toward a one world financial system which will be controlled by the IMF. He makes a pretty good case for his argument and seems to have his finger on the pulse. There's a lot of info that for the average reader you can page flip unless you really enjoy financial formulas etc., but there are some interesting highlights too. He rightly condemns neighborhood policing as a wake to shake down residents to support city coffers and asset forfeiture as a way for police departments to buy new 'toys' in order to further militarize their departments. His bottom line is 'buy gold'. But if it all hits the fan, you'd better have a plan for holding on to it if civil society breaks down.

  25. 4 out of 5

    Tracy B

    Oh Dear! Conspiracies Abound Well, what can I say ...perhaps this book is best viewed as way of understanding why some people are convinced we are governed by Lizard people. The author is a very intelligent man and I enjoyed his writing. He brings together a number of economic and mathematical theories. But the basic premise is that a global elite is in the process of using the IMF to control the monetary system, by creating global shocks to forward their agenda. This is to create a new world Oh Dear! Conspiracies Abound Well, what can I say ...perhaps this book is best viewed as way of understanding why some people are convinced we are governed by Lizard people. The author is a very intelligent man and I enjoyed his writing. He brings together a number of economic and mathematical theories. But the basic premise is that a global elite is in the process of using the IMF to control the monetary system, by creating global shocks to forward their agenda. This is to create a new world order, led by the likes of George Soros. I am certain the facts and background theories are sound, it’s just their application is misjudged and twisted. If your American and store your food in a bunker, you will enjoy this book. If you want to understand why someone might store their food in a bunker, this will help

  26. 5 out of 5

    Roy Wang

    The book is smart and well researched, and the author's first-hand experiences as an insider of Wall Street banks and high finance lend further credibility to his warning about the next global financial crisis. His application of complexity theory and Bayesian theorem to analyzing economics and financial markets is very interesting and thought-provoking as well. Most important of all, his warning is sobering and even downright frightening, predicting that the next financial crisis will see The book is smart and well researched, and the author's first-hand experiences as an insider of Wall Street banks and high finance lend further credibility to his warning about the next global financial crisis. His application of complexity theory and Bayesian theorem to analyzing economics and financial markets is very interesting and thought-provoking as well. Most important of all, his warning is sobering and even downright frightening, predicting that the next financial crisis will see global elites and the most powerful institutions taking drastic, unprecedented measures that will cost ordinary folks dearly, to put it mildly. If the author is correct, the total impact will go beyond financial ruin, but also lead to massive social and political shifts resulting in loss of national identity and individual freedoms.

  27. 4 out of 5

    Ricardo Portella

    Not for the layman The book is written for economists. The language is dark and obscure what makes it a difficult book to read. The author states that today's economy is based on a complex system that is on the brink of collapse and elaborate in long chapters with examples. You become a little anxious as you read because today's money does not have a physical anchor like the gold standard. Everything is based on the trust in in Central banks around the world in a delicate balance. I skipped the Not for the layman The book is written for economists. The language is dark and obscure what makes it a difficult book to read. The author states that today's economy is based on a complex system that is on the brink of collapse and elaborate in long chapters with examples. You become a little anxious as you read because today's money does not have a physical anchor like the gold standard. Everything is based on the trust in in Central banks around the world in a delicate balance. I skipped the last three and went directly to the conclusion. He made his point, but so what? Are you going to despair and end your life? No, just put a small portion of your savings in gold (especially physical bars!) and take a beer 🍻!

  28. 4 out of 5

    Andy Taylor

    The subtitle is a marketing gimmick, there is nothing "tin foil hat" about James Rickards. This books explains how current economic models are outdated and not equipped to handle complex systems. I haven't been challenged in my economic beliefs in quite a while. this book not only challenged my beliefs but changed them. The arguments are so well laid out that they are impossible to dismiss. If you are a "free trade" globalist (like I was/am??) I highly recommend you read this book. it might not The subtitle is a marketing gimmick, there is nothing "tin foil hat" about James Rickards. This books explains how current economic models are outdated and not equipped to handle complex systems. I haven't been challenged in my economic beliefs in quite a while. this book not only challenged my beliefs but changed them. The arguments are so well laid out that they are impossible to dismiss. If you are a "free trade" globalist (like I was/am??) I highly recommend you read this book. it might not change your mind but it will definitely challenge you to full understand your position.

  29. 4 out of 5

    Ken

    Informative, but it is a bit of a wade. Interesting perspective on who really controls the money in the world and what it would take for the US dollar to tank. Gives the reader a good understanding of how fragile the US dollar is, due to our politicians manipulating currency flow and values for political reasons. Nothing new for those of us who know that the US Dollar really has no intrinsic value, since the removal of the gold and silver backing. A book every American should read and protect Informative, but it is a bit of a wade. Interesting perspective on who really controls the money in the world and what it would take for the US dollar to tank. Gives the reader a good understanding of how fragile the US dollar is, due to our politicians manipulating currency flow and values for political reasons. Nothing new for those of us who know that the US Dollar really has no intrinsic value, since the removal of the gold and silver backing. A book every American should read and protect themselves accordingly, financially.

  30. 5 out of 5

    Joel

    A few of my favorite quotes: "Free market economy" dogma applied to financial markets resulted in exponential profits for a few global elitists (that don't live here). "Comparative Advantage", which underpins classical economic principles like specialization and international trade does not exist in a world where production factors (capital, intellectual property) are mobile. This is a very educational book that reads more like Thomas Pikety's Capital. Excellent education. Note: Play at 0.8X A few of my favorite quotes: "Free market economy" dogma applied to financial markets resulted in exponential profits for a few global elitists (that don't live here). "Comparative Advantage", which underpins classical economic principles like specialization and international trade does not exist in a world where production factors (capital, intellectual property) are mobile. This is a very educational book that reads more like Thomas Pikety's Capital. Excellent education. Note: Play at 0.8X speed.

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