2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale
2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale__right

A typical used book in Very Good condition. It shows light use with some slight noticeable wear. No page markings (other than possibly previous owner''s name/note). We carefully inspected this book and pages are unmarked and binding is intact. Comes with Super Fast Shipping – usually leaves warehouse within 24 hours. Professional packaging with tracking number and 24/7 customer service provided at no additional cost. 100% satisfaction guaranteed with every purchase!
See more
Sold by Burlington MA- Used Book Superstore -new books too and fulfilled by Amazon.
[{"displayPrice":"$13.29","priceAmount":13.29,"currencySymbol":"$","integerValue":"13","decimalSeparator":".","fractionalValue":"29","symbolPosition":"left","hasSpace":false,"showFractionalPartIfEmpty":true,"offerListingId":"UYXaYwuEr4hYsOx4jMl8EKq7fpH1dEVsqI64RfVDKDeSevb%2BWeiwRAWnbrDZSww%2FSjBXs7EIOxxzmucLxotWF6dNOzXfBIR4Q6R3hEVCUDFf8IU8VJ9cvSSEjd43dSNDfSgEqPHHwaTVDWmvt5s3Qg%3D%3D","locale":"en-US","buyingOptionType":"NEW"},{"displayPrice":"$8.19","priceAmount":8.19,"currencySymbol":"$","integerValue":"8","decimalSeparator":".","fractionalValue":"19","symbolPosition":"left","hasSpace":false,"showFractionalPartIfEmpty":true,"offerListingId":"%2BkYlE31Xtw4jpP4tNJ3znaEvWlHzcrGj8Bc3HOmlClF8csUxlXqFJrgMV89ag6ijk5cl4sfXxGn9NOK5Ymp4iR8%2BAUP54iM8K9urxOwpi6Kp%2F2KbYaedVLgZ2DaUJsWBdXjsJZaElGKn6%2F8tvIyhZRLcrQwwlNluzS4GGyiF8oC7ncZdzxi1bw%3D%3D","locale":"en-US","buyingOptionType":"USED"}]
$$13.29 () Includes selected options. Includes initial monthly payment and selected options. Details
Price
Subtotal
$$13.29
Subtotal
Initial payment breakdown
Shipping cost, delivery date, and order total (including tax) shown at checkout.
ADD TO LIST
Available at a lower price from other sellers that may not offer free Prime shipping.
SELL ON AMAZON
Share this product with friends
Text Message
WhatsApp
Copy
press and hold to copy
Email
Facebook
Twitter
Pinterest
Loading your book clubs
There was a problem loading your book clubs. Please try again.
Not in a club? Learn more
Join or create book clubs
Choose books together
Track your books
Bring your club to Amazon Book Clubs, start a new book club and invite your friends to join, or find a club that’s right for you for free. Explore Amazon Book Clubs
Great on Kindle
Great Experience. Great Value.

Great on Kindle
Putting our best book forward
Each Great on Kindle book offers a great reading experience, at a better value than print to keep your wallet happy.

Explore your book, then jump right back to where you left off with Page Flip.

View high quality images that let you zoom in to take a closer look.

Enjoy features only possible in digital – start reading right away, carry your library with you, adjust the font, create shareable notes and highlights, and more.

Discover additional details about the events, people, and places in your book, with Wikipedia integration.

View the Kindle edition of this book
Get the free Kindle app:
Enjoy a great reading experience when you buy the Kindle edition of this book. Learn more about Great on Kindle, available in select categories.
Brief content visible, double tap to read full content.
Full content visible, double tap to read brief content.
Brief content visible, double tap to read full content.
Full content visible, double tap to read brief content.

Frequently bought together

+
+
Choose items to buy together.
Buy all three: $48.76
$13.29
$15.99
$19.48
Total price:
To see our price, add these items to your cart.
Brief content visible, double tap to read full content.
Full content visible, double tap to read brief content.

Book details

Brief content visible, double tap to read full content.
Full content visible, double tap to read brief content.

Description

Product Description

The bestselling author of The Death of Money and Currency Wars reveals the global elites'' dark effort to hide a coming catastrophe from investors in The Road to Ruin, now a National Bestseller.
 
A drumbeat is sounding among the global elites. The signs of a worldwide financial meltdown are unmistakable. This time, the elites have an audacious plan to protect themselves from the fallout: hoarding cash now and locking down the global financial system when a crisis hits.
 
Since 2014, international monetary agencies have been issuing warnings to a small group of finance ministers, banks, and private equity funds: the U.S. government’s cowardly choices not to prosecute J.P. Morgan and its ilk, and to bloat the economy with a $4 trillion injection of easy credit, are driving us headlong toward a cliff.
 
As Rickards shows in this frightening, meticulously researched book, governments around the world have no compunction about conspiring against their citizens. They will have stockpiled hard assets when stock exchanges are closed, ATMs shut down, money market funds frozen, asset managers instructed not to sell securities, negative interest rates imposed, and cash withdrawals denied.
 
If you want to plan for the risks ahead, you will need Rickards’s cutting-edge synthesis of behavioral economics, history, and complexity theory. It’s a guidebook to thinking smarter, acting faster, and living with the comfort­ing knowledge that your wealth is secure.
 
The global elites don’t want this book to exist. Their plan to herd us like sheep to the slaughter when a global crisis erupts—and, of course, to maintain their wealth—works only if we remain complacent and unaware. Thanks to The Road to Ruin, we don’t need to be.

"If you are curious about what the financial  Götterdämmerung might look like you’ve certainly come to the right place... Rickards believes -- and provides tantalizing snippets of private conversations with those who dwell in the very eye-in-the-pyramid -- that the current world monetary and financial system is on the verge of insolvency and that the world financial elites already have a successor system for which they are laying the groundwork."
--Ralph Benko, Forbes

About the Author

James Rickards is the Editor of  Strategic Intelligence a financial newsletter. He is  The New York Times bestselling author of  The New Great Depression (2020),  Aftermath (2019),  The Road to Ruin (2016),  The  New Case for Gold (2016),  The Death of Money (2014), and  Currency Wars (2011) from Penguin Random House. He is an investment advisor, lawyer, inventor, and economist, and has held senior positions at Citibank, Long-Term Capital Management, and Caxton Associates. In 1998, he was the principal negotiator of the rescue of LTCM sponsored by the Federal Reserve. His clients include institutional investors and government directorates. He is an op-ed contributor to the  Financial TimesEvening StandardThe  TelegraphNew York Times, and  Washington Post, and has been interviewed by BBC, CNN, NPR, CSPAN, CNBC, Bloomberg, Fox, and  The Wall Street Journal. Mr. Rickards is a guest lecturer in globalization and finance at The Johns Hopkins University, Georgetown University, Trinity College Dublin, The Kellogg School at Northwestern, the U.S. Army War College and the School of Advanced International Studies. He has presented papers on risk at Singularity University, the Applied Physics Laboratory, and the Los Alamos National Laboratory. He is an advisor on capital markets to the U.S. intelligence community, and the Office of the Secretary of Defense, and is on the Advisory Board of the FDD Center on Economic and Financial Power in Washington DC. Mr. Rickards holds an LL.M. (Taxation) from the NYU School of Law; a J.D. from the University of Pennsylvania Law School; an M.A. in international economics from SAIS, and a B.A. (with honors) from Johns Hopkins. He lives in New Hampshire.


Follow @JamesGRickards.

Excerpt. © Reprinted by permission. All rights reserved.

Chapter 1

This Is the End

Nice, nice, very nice- So many different people In the same device.

From Cat''s Cradle, a novel by Kurt Vonnegut, 1963

The Conversation

Aureole is an elegant, high-ceilinged restaurant of sleek modern design on West Forty-second Street in Manhattan. It sits midway between tourist throngs in Times Square and Bryant Park''s greenery. The neoclassical New York Public Library, whose entrance is attended by the twin marble lions, Patience and Fortitude, looms nearby.

I was there on a pleasant evening in June 2014 with three companions at a window table. We arrived at Aureole after a short walk from the library lecture hall where I had earlier delivered a talk on international finance.

The library offered free access to the lecture. Free access to any event in New York City guarantees an eclectic audience, more diverse than my typical institutional presentation. One gentleman in attendance wore an orange suit, bow tie, sunglasses, and lime-green derby hat. He was seated in the front row. His appearance did not raise an eyebrow.

New Yorkers are not only bold dressers, they''re typically astute. In the question-and-answer session after the lecture, one listener raised his hand and said, "I agree with your warnings about systemic risk, but I''m stuck in a company 401(k). My only options are equities and money market funds. What should I do?" My initial advice was "Quit your job."

Then I said, "Seriously, move from equities to half cash. That leaves you some upside with lower volatility, and you''ll have optionality as visibility improves." That was all he could do. As I gave the advice, I realized millions of Americans were stuck in the same stock market trap.

At Aureole, it was time to relax. The crowd was the usual midtown mix of moguls and models. I was with three brilliant women. To my left was Christina Polischuk, retired top adviser to Barclays Global Investors. Barclays was one of the world''s largest asset managers before being acquired by BlackRock in 2009. That acquisition put BlackRock in a league of its own, on its way to $5 trillion of assets under management, larger than the GDP of Germany.

Across the table was my daughter, Ali. She had just launched her own business as a digital media consultant after four years advising Hollywood A-list celebrities. I was among her first clients. She brought millennial savvy to my lecture style with good success.

To my right was one of the most powerful, yet private, women in finance; consigliere to BlackRock CEO Larry Fink. She was BlackRock''s point person on government efforts to suppress the financial system following the 2008 meltdown. When the government came knocking on BlackRock''s door, she answered.

Over a bottle of white Burgundy, we conversed about old times, mutual friends, and the crowd at the lecture. I had addressed the audience on complexity theory and hard data that showed the financial system moving toward collapse. My friend on the right didn''t need any lectures on systemic risk; she stood at the crossroads of contagion in her role at BlackRock.

Under Larry Fink''s direction, BlackRock emerged over the past twenty-five years as the most powerful force in asset management. BlackRock manages separate accounts for the world''s largest institutions as well as mutual funds and other investment vehicles for investors of all sizes. It sponsors billions of dollars of exchange-traded funds, ETFs, through its iShares platform.

Acquisitions engineered by Fink including State Street Research, Merrill Lynch Investment Management, and Barclays Global Investors, combined with internal growth and new products, pushed BlackRock to the top of the heap among asset managers. BlackRock''s $5 trillion of assets were spread across equities, fixed income, commodities, foreign exchange, and derivatives in markets on five continents. No other asset management firm has its sheer size and breadth. BlackRock was the new financial Leviathan.

Fink is obsessively driven by asset growth, and the financial power that comes with it. He typically rises early, devours news, keeps a grueling schedule punctuated by power lunches and dinners, and is asleep by 10:30 p.m., ready to do it all again the next day. When he''s not shuttling between his east side Manhattan apartment and his midtown office, Fink can be found on the global power elite circuit including Davos in January, IMF meetings in April, St. Petersburg, Russia, in June for "white nights," and so on around the calendar and around the globe, meeting with clients, heads of state, central bankers, and other lesser-known yet quietly powerful figures.

Such power does not go unnoticed in Washington. The U.S. government operates like the Black Hand, a Mafia predecessor portrayed in The Godfather Part II. If you pay protection money in the form of campaign contributions, make donations to the right foundations, hire the right consultants, lawyers, and lobbyists, and don''t oppose the government agenda, you are left alone to operate your business.

If you fail to pay protection, Washington will break your windows as a warning. In twenty-first-century America, government breaks your windows with politically motivated prosecutions on tax, fraud, or antitrust charges. If you still don''t fall into line, the government returns to burn down your store.

The Obama administration raised the art of political prosecution to a height not seen since 1934, when the Roosevelt administration sought the indictment of Andrew Mellon, a distinguished former secretary of the treasury. Mellon''s only crimes were being rich and a vocal opponent of FDR. He was eventually acquitted of all charges. Still, a political prosecution played well among FDR''s left-wing cohort.

Jamie Dimon, CEO of JPMorgan Chase, learned this lesson the hard way when he publicly criticized Obama''s bank regulatory policy in 2012. Over the course of the next two years, JPMorgan paid more than $30 billion in fines, penalties, and compliance costs to settle a host of criminal and civil fraud charges brought by the Obama Justice Department and regulatory agencies. The Obama administration knew that attacking institutions was more remunerative than attacking individuals as FDR had done. Under this new Black Hand, stockholders paid the costs, and CEOs got to keep their jobs provided they remained mute.

Fink played the political game more astutely than Dimon. As Fortune magazine reported, "Fink . . . is a strong Democrat . . . and has often been rumored as set to take a big administration job, such as Secretary of the Treasury." Fink had so far managed to avoid the attacks that plagued his rivals.

Now Fink confronted a threat greater than targeted prosecutions and West Wing animus. The threat involved the White House, but emanated from the highest levels of the IMF and the G20 club of major economic powers. This threat has an anodyne name intended to confuse nonexperts. The name is G-SIFI, which stands for "globally systemic important financial institution." In plain English, G-SIFI means "too big to fail." If your company is on the G-SIFI list, it will be propped up by governments because a failure topples the global financial system. That list went beyond large national banks into a stratosphere of super-size players who dominated global finance. G-SIFI even went beyond too big to fail. G-SIFI was a list of entities that were too big to leave alone. The G20 and IMF did not just want to watch the G-SIFIs. They wanted to control them.

Each major country has its own sublists of SIFIs, and systemically important banks (SIBs) that are also too big to fail. In the United States, these banks include JPMorgan, Citibank, and some lesser-known entities such as the Bank of New York, the clearing nerve center for the U.S. treasury market.

I knew this background when I sat down to dinner that evening. The latest development was that governments were now moving beyond banks to include nonbank financial companies in their net.

Some nonbank targets were easy prey, including insurance giant AIG, which almost destroyed the financial system in 2008, and General Electric, whose credit operations were unable to roll over their commercial paper in the panic that year. It was the General Electric freeze, more than Wall Street bank failures, that most panicked Ben Bernanke, Federal Reserve chairman at the time. The General Electric credit collapse spread contagion to all of corporate America, which led directly to government guarantees of all bank deposits, money market funds, and corporate commercial paper. The General Electric meltdown was a white-knuckle moment that governments resolved never to repeat.

Once GE and AIG were swept in, the issue was how far to cast the nonbank net. Prudential Insurance was snared next. Governments were moving to control not just banks and large corporations, but the world''s biggest asset managers as well. MetLife Insurance was next on the hit list; BlackRock was directly in the crosshairs.

I asked my dinner companion, "How''s this whole SIFI thing going? You must have your hands full."

Her reply startled me. "It''s worse than you think," she said.

I was aware of the government''s efforts to put BlackRock in the nonbank SIFI category. A behind-the-scenes struggle by BlackRock management to avoid the designation had been going on for months. BlackRock''s case was straightforward. They argued they were an asset manager, not a bank. Asset managers don''t fail; their clients do.

BlackRock insisted size itself was not a problem. The assets under management belonged to the clients, not to BlackRock. In effect, they argued BlackRock was just a hired hand for its institutional clients, and not important in its own right.

Fink argued that systemic risk was in banks, not BlackRock. Banks borrow money on a short-term basis from depositors and other banks, then loan the funds out for a longer term as mortgages or commercial loans. This asset-liability maturity mismatch leaves banks vulnerable if the short-term lenders want their money back in a panic. Long-term assets cannot be liquidated quickly without a fire sale.

Modern financial technology made the problem worse because derivatives allowed the asset-liability mismatch to be more highly leveraged, and spread among more counterparties in hard-to-find ways. When panic strikes, even central banks willing to act as lenders of last resort cannot easily untangle the web of transactions in time to avoid a domino-style crash of one bank after another. All of this was amply demonstrated in the Panic of 2008, and even earlier in the collapse of hedge fund Long-Term Capital Management in 1998.

BlackRock had none of these problems. It was an asset manager, pure and simple. Clients entrusted it with assets to invest. There was no liability on the other side of the balance sheet. BlackRock did not need depositors or money market funds to finance its operations. BlackRock did not act as principal in exotic off-balance-sheet derivatives to leverage its client assets.

A client hired BlackRock, gave it assets under an advisory agreement, and paid a fee for the advice. In theory, the worst that could happen to BlackRock is it might lose clients or receive fewer fees. Its stock price might decline. Still, BlackRock could not suffer a classic run on the bank because it did not rely on short-term funding to conduct its operations, and it was not highly leveraged. BlackRock was different from a bank, and safer.

I said, "Well, I know what the government is doing. They realize you''re not a bank and don''t have funding risk. They just want information. They want you on the nonbank SIFI list so they can come in, poke around, look at your investments, and report the information to Treasury in a crisis. They''ll combine that with information from other sources. The information gives them the big picture if they need to put out a fire. It''s a pain, and it''s expensive, but you can do it. It''s just another compliance cost."

My friend leaned in, lowered her voice, and said, "No, it''s not that. We can live with that. They want to tell us we can''t sell."

"What?" I replied. I heard her well enough, but the implication of what she said was striking.

"In a crisis, they want to pick up the phone and order us not to sell securities. Just freeze us in place. I was in Washington last week on this and I''m going back next week for more meetings. You know it''s not really about us, it''s about our clients."

I was shocked. I should not have been. BlackRock was an obvious choke point in the global flow of funds. The fact that regulators might order banks to behave in certain ways was not surprising. Regulators can close banks almost at will. Bank management knows that in a match with regulators, the bank will always lose, so they go along with government orders. But government had no obvious legal leverage over asset managers like BlackRock.

Yet the flow of funds through BlackRock on a daily basis was enormous. BlackRock was a strategic choke point like the Strait of Hormuz. If you stop the flow of oil through the Strait of Hormuz, the global economy grinds to a halt. Likewise, if you stop transactions at BlackRock, global markets grind to a halt.

In a financial panic, everyone wants his money back. Investors believe stocks, bonds, and money market funds can be turned into money with a few clicks at an online broker. In a panic, that''s not necessarily true. At best, values are crashing and "money" disappears before your eyes. At worst, funds suspend redemptions and brokers shut off their systems.

Broadly speaking, there are two ways for policymakers to respond when everyone wants his money back. The first is to make money readily available, printing as much as necessary to satisfy the demand. This is the classic central bank function as the lender of last resort, more aptly called printer of last resort.

The second approach is to just say no; to lock down or freeze the system. A lockdown involves closing banks, shutting exchanges, and ordering asset managers not to sell. In the Panic of 2008, governments pursued the first option. Central Banks printed money and passed it around to reliquefy markets and prop up asset prices.

Now it looked like governments were anticipating the next panic by preparing the second approach. In the next panic, government will say, in effect, "No, you can''t have your money. The system is closed. Let us sort things out, and we''ll get back to you."

Money locked down at BlackRock is not their money, it''s their clients''. BlackRock manages funds for the largest institutions in the world such as CIC, the Chinese sovereign wealth fund, and CALPERS, the pension fund for government employees in California. A freeze on BlackRock means you are freezing sales by China, California, and other jurisdictions around the world. The U.S. government has no authority to tell China not to sell securities. But because China entrusts assets to BlackRock, the government would use its power over BlackRock to freeze the Chinese. The Chinese would be the last to know.

By controlling one financial choke point-BlackRock-the U.S. government controls the assets of major investors normally beyond its jurisdiction. Freezing BlackRock was an audacious plan, obviously one the government could not discuss openly. Thanks to my dinner companion, the plan had become crystal clear.

Product information

Brief content visible, double tap to read full content.
Full content visible, double tap to read brief content.
UP NEXT
CANCEL
00:00
-00:00
Shop
Text Message
Email
Facebook
Twitter
WhatsApp
Pinterest
Share
More videos
Brief content visible, double tap to read full content.
Full content visible, double tap to read brief content.

Customers who bought this item also bought

Brief content visible, double tap to read full content.
Full content visible, double tap to read brief content.
Sponsored

Customer reviews

4.6 out of 54.6 out of 5
827 global ratings

Reviews with videos

Reviews with images

Top reviews from the United States

Marsha Dahleeng
3.0 out of 5 starsVerified Purchase
Educational, Interesting, also Disappointing
Reviewed in the United States on January 26, 2017
I''m a retired, educated professional who''s always had a layman''s interest in and exposure to the field of economics. I''ve read Rickards'' other books and followed him on Twitter for years. I like his logic, insights and clear explanations. The cover jacket for... See more
I''m a retired, educated professional who''s always had a layman''s interest in and exposure to the field of economics. I''ve read Rickards'' other books and followed him on Twitter for years. I like his logic, insights and clear explanations.

The cover jacket for this book states "The most potent form of protection is to arm yourself with knowledge." That''s true. I read "Road to Ruin" hoping to 1) identify and understand threats and 2) identify practical steps to protect my large family.

I find Jim Rickards to be a gifted teacher - he successfully explains numerous complicated concepts in layman terms. Thanks to his writings in this particular book, I feel I have a basic working knowledge of some troubling issues that may very well threaten the long term success of not just my own family, but America in general.

This book met the first part of my goal - "understanding and identifying threats." It did not satisfy the second part of my goal.

In Rickards'' chapter "Behold a Black Horse" he (finally!) outlines suggestions for what he feels may help people defend their "wealth" against all the coming threats he has so carefully and thoroughly exposed. I found his suggestions to be tersely worded and lacking the "fleshing out" helpfulness characteristic in Rickards previous chapters. When I finished this much anticipated section I sensed Rickards had deliberately withheld information the average reader needed to understand and apply his suggestions and ideas. Was this in order to get the reader to subscribe to his Agora Financial Newsletter? I took the bait and subscribed ($99) knowing I could get my money back if unsatisfied. Guess what. That membership quickly supplied me with one book and two reports that supplied the missing information. Thank you. But, why was that information not simply included in the book? That investment newsletter marketing ploy is my only criticism of this book. In every other way I found the book interesting and educational.
631 people found this helpful
Helpful
Report
Mahatma Head
5.0 out of 5 starsVerified Purchase
A Very Important Book
Reviewed in the United States on November 22, 2016
As an economist and financial adviser, I was prepared to be highly critical of James Rickards'' latest book. Instead, I found myself annotating it heavily and reread it immediately after finishing it. There may be a little more detail in some parts than the explication... See more
As an economist and financial adviser, I was prepared to be highly critical of James Rickards'' latest book. Instead, I found myself annotating it heavily and reread it immediately after finishing it. There may be a little more detail in some parts than the explication really needed, but I found myself nodding in agreement rather than shaking my head. It''s not a conspiratorial book (as some reviewers have alleged). Rickards speaks of "elites," but as an amorphous group bound together by shared goals rather than as a dark organization dedicated to evil. His analysis of the Long Term Capital Management (LTCM) debacle is fascinating, since he was working there at the time. His discussion of complexity theory applied to financial markets is the best I''ve seen on the topic. His discussion of trade issues is particularly timely due to the recent presidential election.

The typical free trade policies have led to the gutting of US manufacturing, and the loss of the jobs on which the middle class used to depend. (Remember that working class white voters used to be the backbone of the Democratic Party!) If President Trump can shift our trade policies so that a certain amount of manufacturing returns to the US, he will have done generations of Americans a great favor. Rickards shows how so-called "free" trade really isn''t free.

By far the most important part of the book is the case it makes for a coming financial panic. Rickards does not identify the precise cause, although he does say that the cause will be a liquidity crisis in one part of the financial market, which will spread to all other parts. He does lay out the reasons why he feels that such a crisis, exponentially larger than previous ones, is almost inevitable at this point. There is some general advice on tactics to protect yourself during such an event -- a process, really, since it would take years to work itself out. Other forms of self-protection are easily inferred from the analysis. All in all, I believe this is one of the most important financial books in years.
357 people found this helpful
Helpful
Report
Coffeemonster
5.0 out of 5 starsVerified Purchase
Sobering
Reviewed in the United States on April 21, 2018
Hard for me at age 65 to take any action as is obviously needed after reading this book. I''m a Boomer who was convinced from my teenage years, the world wouldn''t last long enough to bother with planning for retirement. I was 56 before I realized that after... See more
Hard for me at age 65 to take any action as is obviously needed after reading this book.

I''m a Boomer who was convinced from my teenage years, the world wouldn''t last long enough to bother with planning for retirement. I was 56 before I realized that after paying off my kids student loans, I had some serious catching up to do.

With 2009 I lost my condo I''d intended for my retirement. Then went my career after a motorcycle accident, ending up on Disability, followed by a bankruptcy.

All I have now is low 5 figures in savings, my only income is a small pension & Social Security. All of this is at risk, no gold or land owned in full. Where from here?

All I can surmise, if I live long enough, is to join my fellow, former middle class retirees in a mandatory government-run warehouse for the nonproductive elderly. This might be a best case scenario.

I don''t know if there is an alternative. Where in the world can you move if your pension is confiscated and Social Security is gone? Suddenly, Panama, Mexico, or rural America doesn''t mean you have an option.

Might be an idea to bring as much cash or silver, to buy an old van to live in, to find shelter in numbers with others in a warm climate with a fishing pole to feed yourself and your cat - until the pacemaker battery runs out.

Thanks, Mr. Rickards. I, as as a teen, as you''ve illustrated in your book, was right after all.
43 people found this helpful
Helpful
Report
Leib Gershon Mitchell
4.0 out of 5 starsVerified Purchase
To talk about the plans of "global elites" seems like it would appeal to the same people who would ...
Reviewed in the United States on August 27, 2017
Thoughts: 1. Rickard could have reached a few more people if he had not tried to be so sensational with his title/ words. a. To talk about the plans of "global elites" seems like it would appeal to the same people who would talk about the... See more
Thoughts:

1. Rickard could have reached a few more people if he had not tried to be so sensational with his title/ words.

a. To talk about the plans of "global elites" seems like it would appeal to the same people who would talk about the "New World Order" and expatiate with their religiously infused conspiracy theories. A better title might have been something involving the actual players: Ignorant policymakers (who can''t react in real time), excessively creative bankers, and a largely gullible public. I really believe that he lost a lot of his audience just with the over-the--top title.
b. I understand that he meant "banking freeze" with his "ice-nine" metaphor, and it was cute the first 5,000 times that he used it.......but it sort of lost its magic after a little while. And then "the elites, the elites, the elites......."

2. The book is fairly technical.

a. The concept of a derivative was used OVER AND OVER again, and it still was something that I just didn''t understand at the end of the book.
b. There are a lot of technical terms from finance that someone who is not trained in that field will not understand very well. Maybe a brief chapter would have been in order.
c. I understand that he has some problems with Value At Risk as a model for bankers and policymakers. But what exactly that was just wasn''t brought across that clearly (1) and (2) when I went back to the index to look it up, the pages that pointed to that topic didn''t point to the definition of said topic.

3. There is a lot of overlap in this book with his other books.

a. Currency Wars: The Making of the Next Global Crisis Currency Wars: The Making of the Next Global Crisis . Discussion of quantitative easing and competitive devaluations and capital controls as policy tools both in present times and past.
b. The Death of Money: The Coming Collapse of the International Monetary System . Complexity Theory. The Next Big Crisis is Just Around the Corner..
c. Lots of name dropping and self aggrandizement. Or if there was no exact name dropping, there were plenty of opportunities to let us know that he was in the company of this Important Person/ Group or that.

4. There is a lot of overlap with other books.
a. It vaguely recalls The Misbehavior of Markets: A Fractal View of Financial Turbulence The Misbehavior of Markets: A Fractal View of Financial Turbulence . If a person could just find the formula for the fractal that generates the pattern [insert whatever market you happen to be interested in], then we could make useful predictions.
b. There is a lot of Nassim Nicholas Taleb''s books. i) Monte Carlo simulations. ii) Mainstream Economists don''t know what they are talking about because they can''t make forward predictions. (We didn''t really need that lesson again.) iii) The Gaussian distribution is not appropriate to use in many ways in Economic modeling.
c. The Collapse of Complex Societies (New Studies in Archaeology) has observed that there comes a point where societies (countries/ civilizations) encounter something that is just too complex for them to handle and they collapse. This has been happening for the last 2000 years (at least according to Tainter). In that way, what Rickards is telling us is a lot less novel that it seems

This book had a bibliography, but it was not indexed all that well (1), and the footnote sourcing was not all that great (2). I knew when he was talking about Mandlebrot because I had read that book before (years ago), but if I didn''t know that, then I would not have found it out from his placing a handy footnote in the text.

I have a few selected criticisms of his reasoning (at least the parts that I can understand):

1. The author says that the purpose of the G20 is to be able to create more bulletproof ways to collect tax revenue and to bring the financial systems of its sovereign members under integrated control. A few points: a) If tax burdens become too onerous in one place, might it make is such that more business is done in any of the other 160+ countries in the world? b) A good chunk of the G20 is China and India. Does anyone really thing that China is going to open its capital account and give up control of its financial system? Or if they were willing to be absorbed into some huge regulatory framework that they had the actual ability to enforce the regulations to make that happen?

2. Who is this book for? If you are not a global elite and just work for a living (like the present reviewer and 99.9999% of the rest of the world), then what can you do about these crises except wait until they come? There is almost no one that you can discuss these thing with because the topics are so esoteric and more people are interested in what are the political opinions of some football player or comedian than what might have an effect on their life.
3. If he knows these things, what benefit does he gain by telling us? If people can see what he is doing, and they do the same thing, then doesn''t that cheapen the value of his investments?

What do we learn?

1. There is a bit of delineation between chaos and complexity and what is necessary to make something complex.
2. There is something like a description of what it means to be over-leveraged and why it can become the problem of the public when two banker create a billion dollar deal with $50 worth of real capital.
3. We get an idea of why gold certificates are *completely useless.*

Verdict: If this book, together with the other two books (Currency Wars/ Death of Money) is treated as a trilogy, I would pick two out of the three books to read. After the second book, one starts to run into diminishing returns. I would not be willing to pay for a newsletter.
36 people found this helpful
Helpful
Report
Ira
3.0 out of 5 starsVerified Purchase
It does tell you how you can be screwed out of your assets by the government, so pay attention to that part.
Reviewed in the United States on February 21, 2018
The book DOES tell you how the government can screw you out of all of your money, but then continues on and on and on and on with a lot of history of the economics and workings of the government. Way more information than you really need to understand how you can lose your... See more
The book DOES tell you how the government can screw you out of all of your money, but then continues on and on and on and on with a lot of history of the economics and workings of the government. Way more information than you really need to understand how you can lose your assets and what you might be able to do to protect yourself. The book could be 1/3 to 1/4 of its length and still tell you what you need to know.
If you are interested in economic theory and history, you''ll go through the whole book. I got the audio book, and stopped listening to it about half-way through.
20 people found this helpful
Helpful
Report
Ricardo Portella
2.0 out of 5 starsVerified Purchase
Not for the layman
Reviewed in the United States on July 26, 2019
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... See more
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 🍻!
6 people found this helpful
Helpful
Report
J. Santoro
5.0 out of 5 starsVerified Purchase
Precise but dreadful analysis of our predicament
Reviewed in the United States on June 4, 2018
Another excellent book by Rickards. His assessment of the pending destabilization of the global financial system is too compelling and not for the faint hearted. His portfolio suggestions for preserving as much of your net worth as possible should be considered carefully.... See more
Another excellent book by Rickards. His assessment of the pending destabilization of the global financial system is too compelling and not for the faint hearted. His portfolio suggestions for preserving as much of your net worth as possible should be considered carefully. Our normalization bias will stop most of us from heeding his advice and believing his analysis. And not being able to pin down the day and hour of this collapse will cause others to dismiss its usefulness. The 2008 Crisis and Great Recession were a fore taste of what is to come. None of its causes were fixed but in fact everything was made exponentially worse and concealed by an aura of “a job well done” by the Fed!

I urge you to read this book...looking back in a few years you may thank your deity that you did.
7 people found this helpful
Helpful
Report
Brett Edgell
5.0 out of 5 starsVerified Purchase
Brilliant Understanding of Economics & History!
Reviewed in the United States on March 29, 2018
Brilliant Understanding of Economics & History! The Road to Ruin: The Global Elites'' Secret Plan for the Next Financial Crisis James Rickards, entertains his audience as he explains complex layers of our economy and markets, with easy to follow and... See more
Brilliant Understanding of Economics & History!

The Road to Ruin: The Global Elites'' Secret Plan for the Next Financial Crisis

James Rickards, entertains his audience as he explains complex layers of our economy and markets, with easy to follow and understanding stories, that keep you forging ahead to the next page.

My favorite are his current, up-to-date investment recommendations. Mostly his magnificent stories about how families have held onto their wealth for hundreds of years, using the 1/3, 1/3, 1/3 investment portfolio, 1/3 Land, 1/3 Gold and 1/3 High Grade Collectibles.
13 people found this helpful
Helpful
Report

Top reviews from other countries

Dickens
3.0 out of 5 starsVerified Purchase
Oh Dear! Conspiracies Abound
Reviewed in the United Kingdom on April 19, 2019
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...See more
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
14 people found this helpful
Report
Adrian J. Smith
5.0 out of 5 starsVerified Purchase
Superb. No other word for it, simply superb
Reviewed in the United Kingdom on September 11, 2017
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...See more
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.
20 people found this helpful
Report
Cheshireman
5.0 out of 5 starsVerified Purchase
Read this book!
Reviewed in the United Kingdom on April 18, 2017
For those interested in where the world is heading, this is the book for you. Jim Rickards covers a lot of topics in the book, many of them financial. However this is not a book aimed just at those involved in the stockmarkets, in fact anyone with any savings or a pension...See more
For those interested in where the world is heading, this is the book for you. Jim Rickards covers a lot of topics in the book, many of them financial. However this is not a book aimed just at those involved in the stockmarkets, in fact anyone with any savings or a pension should be reading this because the author explains the current position and then draws together the facts to show what the likely future for the years to come. But the hard-hitting concluding chapters of the book may come as a shock to some - more so because I find it hard to fault the logic within. Having read this book after a friend''s recommendation, I can definitely recommend this book to everyone else.
13 people found this helpful
Report
Ron
4.0 out of 5 starsVerified Purchase
THE ROAD TO RUIN
Reviewed in the United Kingdom on August 30, 2017
I thought the book''s text (324 pages) very well written and marvellously researched. Most buyers of this book would expect a short introduction, followed by background history, culminating in a convincing conclusion to it all. I consider the book far too lengthy, no matter...See more
I thought the book''s text (324 pages) very well written and marvellously researched. Most buyers of this book would expect a short introduction, followed by background history, culminating in a convincing conclusion to it all. I consider the book far too lengthy, no matter how keen you may be on James Rickard''s writings. A money story with a warning of economic collapse should be communicated in brief, simple language, that can be easily understood by everyone. The message is quite clear but getting to it takes what seems forever. Maybe this ''work of art'' should be kept in a reference library and an abridged version made available on popular bookstalls.
6 people found this helpful
Report
Graffico
5.0 out of 5 starsVerified Purchase
Really Interesting Read
Reviewed in the United Kingdom on December 22, 2019
Some of the points in the book can come across as quite extreme and unrealistic in my opinion however overall the arguments which James puts forward are collectively sound. James touches on Cryptocurrency which in my opinion will be a major game changer as we further enter...See more
Some of the points in the book can come across as quite extreme and unrealistic in my opinion however overall the arguments which James puts forward are collectively sound. James touches on Cryptocurrency which in my opinion will be a major game changer as we further enter the information and clean energy age. I completely agree with his conclusion in that the system will collapse when the US government prints more money.
2 people found this helpful
Report
See all reviews
Brief content visible, double tap to read full content.
Full content visible, double tap to read brief content.

Customers who viewed this item also viewed

Brief content visible, double tap to read full content.
Full content visible, double tap to read brief content.

Explore similar books

Tags that will help you discover similar books. 15 tags
Results for: 
Where do clickable book tags come from?
Brief content visible, double tap to read full content.
Full content visible, double tap to read brief content.

Pages with related products.

  • currency market
  • financial investing
  • financial investments
  • enterprise security
  • development theory
  • bear market
Brief content visible, double tap to read full content.
Full content visible, double tap to read brief content.

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale

2021 new arrival The Road to new arrival Ruin: The Global Elites' Secret Plan for the Next Financial online sale Crisis outlet sale