The international monetary system has collapsed three times in the 20th century (1914, 1939, and 1971). Each collapse was followed by a period financial havoc, war, and civil unrest damaging global trade and economy overall.
The US dollar has been and continues to be the global reserve currency from 1950’s onward, and its collapse will trigger an unprecedented financial havoc the world has never experienced.
No other economy possesses the deep and liquid pools of assets needed to be the reserve currency of the world.
The pound was the predecessor of the US dollar, when Great Britain extended from Hong-Kong to Canada and many other parts of the world.
The dominance of the US dollar of the world economy benefits America, but emerging economies of the world namely, Russian, Chinese, and Middle-Eastern oil-producing countries are trying to dethrone the US dollar using political tools, and accumulated wealth resulting in financial warfare, deflation, hyperinflation, and collapsing markets.
In this highly informative, well researched, and well written book, the author explains how greedy financiers, Wall, Street `heavyweights and incompetent central bank mangers will trigger the collapse of the US dollar.
Ironically, the Chinese economy that was partially revived by American capital, know-how, and supported by trade, has started to undermine the US dollar by investing wisely and acquiring productive assets in Africa, Europe, and North America.
The long term economic and financial planning of Chinese governments indicates how this may evolve to catastrophic events.
James Rickards has written an enlightening book that ought to be studied by all politicians the world over to avoid, or at least mitigate an eventual financial catastrophe.