The Death Of Money Book Summary By James Rickards

*This post contains affiliate links, and we may earn an affiliate commission without it ever affecting the price you pay.

The Death of Money by Jim Rickards is an insightful and eye-opening look into the current global monetary system, centered around the US dollar.

This book dives deeper than most economic readings, highlighting the signs that a total collapse of the system is imminent if certain policies continue.

From interesting anecdotes to complex facts, The Death of Money sheds light on this dangerous path that has been taken.

It is not meant to be an easy read and requires unquestionable patience - but it is certainly a must-read for anyone who wants to be prepared for what might come in the future.

Book Name: The Death of Money (The Coming Collapse of the International Monetary System)

Author(s): James Rickards

Rating: 4.1/5

Reading Time: 16 Minutes

Categories: Economics

Author Bio

James Rickards is an amazing thinkertank, researcher and financial advisor.

His impressive academic background which consists of economics, law and finance has made him one of the most recognized names in the world of finances.

People love his 2011 New York Times bestseller "Currency Wars" which took the literary world by storm.

But that's not all!

He has written The Death of Money, a book about currency wars, understanding financial markets in times of chaos and how to prepare for economic collapse..

You can bet that this book about inflation, deflation and unpredictable events will be enjoyed by millions.

Moreover, readers will get tips on how to protect themselves financially from disasters provoked by government policy or market manipulation.

With James Rickards' expert advice, you are sure to make smart decisions that will lead to your financial security - even during turbulent times!

How To Protect Your Life Savings From The Looming Financial Crisis

Do you want to make sure your hard-earned savings are safe from the impending economic collapse? If so, you need to read The Death of Money by Robert Kiyosaki.

In it, he discusses why the money in your pocket is so fragile and what measures you can take to prevent it from becoming worthless in a worst-case scenario.

He explains how governments and central banks are deliberately manipulating currencies in such a way that will make the money in your pocket worth less over time.

You’ll also learn where the next crisis may come from and practical solutions you can take to preserve your life savings.

As an example, during the financial crisis of 2008, American locomotives were traded for frozen turkeys!

Scary right? That’s exactly why getting informed is key in order to prevent something like this happening with your own savings.

Don’t get caught off guard – find out how you can protect your savings for years to come with The Death of Money book!

How Fiat Money Works And Why It Is Under Attack In Modern Times

Modern currencies have no intrinsic worth.

Instead, their value is entirely dependent on the promises and guarantees that states make in relation to them.

For centuries, gold coins or other pieces of tangible value had been used as money – it was only in 1972 that governments around the world severed the connection between money and material value and began relying solely on fiat money – i.e.

paper with no intrinsic value but which is given extrinsic worth by government backing.

As such, all modern currencies have absolutely no intrinsic value except for the state-backed guarantee that a certain currency equates to a certain exchange rate conversion for something else of equal value; like flour or salt.

This means that when you pay the baker for his loaf of bread with a piece of paper from your wallet, you can trust it will be an equal exchange because the state has promised that it is.

Thus, all modern currencies have no worth apart from what the state says they are worth – this almost always reflects government monetary policy instead of a material object’s actual worth.

The Real Danger Of Financial Warfare: How Terrorism And Criminal Groups Can Wield Devastating Power Over Our Global Economy

The global financial system is incredibly fragile, and with just a few well-placed strikes, financial warfare could wreak havoc on it.

It has already been demonstrated on a smaller scale in the 9/11 attacks when terrorists made huge bets on the plummeting share prices of airlines.

Then there was the US offensive against Iran in 2012 that crippled its currency by excluding it from a payments system.

And finally, the 2008 financial crisis showed us just how large the economic consequences can be when something goes wrong – losses as high as $60 trillion were recorded!

Financial warfare is both offensive – such as hacking into foreign markets to manipulate their prices – and defensive – such as Iran’s bulk gold buying to replace their former access to the international payments system.

In both cases, the purpose is to cause economic damage at best or protect from damage at worst.

What’s more, even small terrorist or criminal groups are capable of causing huge disruption if they understand how to wield this weapon.

It’s up to nations around the world to ensure that measures are taken to guard against this new threat posed by financial warfare for our shared good.

The Potential Risks Of Unwise Investment Decisions: The Danger Of Ghost Cities And Student Loan Defaults

There are potential crises lurking within the financial system that could have devastating consequences on the global economy.

One example of this is the investment boom in China, which has been heavily impacted by massive corruption within the Communist Party.

This means that huge amounts of money have been poured into projects and buildings that no one can actually afford to use, resulting in a dangerous investment bubble that could burst at any point.

Meanwhile, in America, student loan debt stands at an estimated $1 trillion as politicians continue to pump money into the economy to stimulate consumption.

Unfortunately, with economic conditions still depressed, it doesn’t look like students will be able to find jobs after graduation and default rates for student loans could soon skyrocket.

This could push US households and financial markets back into uncertainty and hardship once again.

Contained within the financial system are clearly the seeds of future crisis – investors must remain vigilant if they want to protect their wealth!

Is The Us Dollar Losing Its Status As The World’S Reserve Currency?

The global dominance of the US dollar as a reserve currency is shifting.

This move is being driven by nations in Africa and Asia who prefer to accept it over their own local currency, as well as from emerging economies from the BRICS countries (Brazil, Russia, India, China and South Africa).

These countries are concerned about how their economies are affected by US monetary policy.

The pressure on the global dollar-based monetary system is also coming from OPEC countries, such as Saudi Arabia.

Though they have been content to trade their oil for dollars in return for US promises of security, recent developments in US-Iran relations have made these countries wary of depending on the US and its economy so heavily.

Last but not least, the strengthening euro has also contributed to a shift away from the reliance on the dollar.

Following a restructuring process due to a currency crisis, the Eurozone now appears more stable than that of the US and could potentially play a greater role in global finances going forward.

It looks like we are witnessing an end to an age in which one single currency reigns supreme over all other currencies used around the world.

The Us National Debt Problem: The Challenge Of Increasing Inflation And Deflationary Pressures

The US has been desperately trying to leverage inflation as a means of addressing its massive national debt.

Inflation is the process by which the value of US currency decreases, thus making it possible for existing debt to become less valuable as time goes on.

The government has taken steps to improve inflation by printing more money and injecting it into the economy through a process called quantitative easing.

As of yet though, this strategy has not proven effective due to deflationary forces – such as falling energy prices and inexpensive foreign labor – working to increase the value of the dollar.

Thus although an attempt is being made to combat the debt with inflation, it is proving difficult for the US government to successfully combat its growing financial woes through these tactics.

The Rise Of Alternative Currencies And Electronic Bartering: A Response To The Erosion Of Confidence In Cash

The US government’s efforts to increase inflation by printing money have been unsuccessful in boosting the economy, instead causing a devaluation of the US dollar.

This has contributed to a loss of confidence in the dollar-based global monetary system, leading people to look for alternative currencies.

One example is the rapidly growing prevalence of electronic cash such as Bitcoin.

As of late 2013, over $7 billion worth was already in circulation and its popularity indicates that people want an alternative to cash.

In addition, bartering is becoming more common – where goods are traded without cash acting as an intermediary.

A specific instance saw China Railway receive frozen turkeys from one customer which were then given to General Electric (GE) in exchange for locomotives, with GE selling the turkeys on to Tyson Food China for cash.

It’s clear that these developments demonstrate people’s lack of trust in government-backed currency.

The Imf’S Sdr: An Opportunity For A More Stable And Equitable Global Monetary System

It’s time for the global monetary system to find a truly global currency that can take the place of the dollar.

Right now, the dollar-backed global financial system is facing some serious troubles, and an international entity like the International Monetary Fund (IMF) may be able to provide us with a solution.

Specifically, they could use their own quasi-currency called Special Drawing Rights (SDR), which functions like a currency and is backed by a value derived from major currencies all around the world.

The SDR could replace the dollar as the global reserve currency, and this shift would bring numerous benefits.

Most notably, it would mean that monetary policy for this new currency would be determined by a wholly international entity such as the IMF; this would be vastly different from how it currently operates, wherein US interests dictate monetary policy for dollars—which has sometimes put other countries at an economic disadvantage.

It’s clear that switching to an IMF or SDR-backed global currency makes sense: it’d help create more stability and predictability in our monetary system—something that would benefit everyone involved.

So while making such a shift might seem daunting at first, there’s no doubt that it’d ultimately lead to better outcomes for everyone in terms of economics and fairness.

Bringing Gold Back Into The Picture: Why We Need To Re-Anchor Our Global Monetary System To Gold

The global monetary system is increasingly moving away from the value of gold, but experts are suggesting that reintroducing a gold standard to our economies could help stabilize it.

Linking currencies to gold would take away the need for relying on the actions and decisions by central banks and governments, as it would provide a dependable anchor for their worth.

At present, the gold price of $1500 per ounce isn’t enough to back up the world’s $2.5 trillion money supply.

In order to make this happen, central banks would need to calculate a new price closer to $17, 500 per ounce for all four major markets: US, EU, Japan and China.

Bringing back the gold standard might not be an easy task but could result in major shifts in our global economy by preventing wild currency fluctuations due to political or economic instability.

Ultimately, it is yet another reminder of how important gold will always be as an asset when looking to secure our finances and wealth.

Preparing Your Portfolio For Hyperinflation: How To Survive And Thrive When The Worst Happens

Protecting your wealth should hyperinflation strike involves spreading it out into many different assets.

If you have all of your money stored in one place like a savings account, then it could be at risk if the economy takes a nosedive.

The best way to safeguard against such an event is to diversify your wealth as much as possible.

You should aim to keep 20 percent of your investments in gold bars, which normally maintain their value even if disaster strikes.

Subsequently, 20 percent should be devoted to property in increasing-population areas, while another 20 percent goes towards alternative investment funds that can excel during economic downturns.

A further 10 percent should go towards purchasing tangible fine art, and 30 percent saved as cash in the bank for flexible investments depending on whatever crisis may face you.

With this kind of strategic allocation across multiple assets, you can rest assured knowing that your wealth will be protected from potential hyperinflation.

Wrap Up

The Death of Money book provides a final summary lesson: spread your wealth.

It’s important to be aware of the erosion of confidence in the US dollar and its eventual hyperinflation, both of which could lead to losses in savings if you keep all them in one place.

This risk can be mitigated by diversifying your assets and investments, which not only increases your chances of financial success, but also affords you better protection against risks such as inflation and devaluation.

Your local bank can assist you in considering investment options that could help you spread out your money to protect it from potential losses due to hyperinflation.

Arturo Miller

Hi, I am Arturo Miller, the Chief Editor of this blog. I'm a passionate reader, learner and blogger. Motivated by the desire to help others reach their fullest potential, I draw from my own experiences and insights to curate blogs.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.