Home
/
Non-Fiction
/
The New Case for Gold
The New Case for Gold
Oct 28, 2024 8:30 AM

Author:James Rickards

The New Case for Gold

They sayJohn Maynard Keynes called gold a 'barbarous relic'.

They saythere isn't enough gold to support finance and commerce.

They saythe gold supply can't increase fast enough to support world growth.

They're wrong.

In The New Case for Gold, James Rickards explains why gold is one of the safest assets for investors in times of political instability and market volatility, and how every investor should look to add gold to his or her portfolio.

Drawing on historical case studies, monetary theory and his personal experience as an investor, Rickards argues that gold should be a part of any prudent investor's portfolio.

James Rickards is the bestselling author of Currency Wars and The Death of Money. He is a portfolio manager at West Shore Group and an adviser on international economics and financial threats to the Department of Defence and the US intelligence community. He served as facilitator of the first-ever financial war games conducted by the Pentagon.

Reviews

Excellent ... Rickards makes a compelling case for why those looking for a way to protect themselves and their families from economic chaos created by central bankers should consider gold.

—— Ron Paul, former US congressman and presidential candidate

James Rickards gifts us once again with his clarity of prose, depth of experience and sound analysis ... An illuminating, original argument for gold as a critical contender in today's money games. The most important book on gold yet.

—— Nomi Prins, author of All the Presidents' Bankers

We can't trust the Federal Reserve to do the honest work that Jim Rickards has done in writing this book ... Essential reading.

—— David A. Stockman, former OMB director and author of The Great Deformation

General Electric was once the most important, powerful and influential company on earth - and this is the definitive story of how it got that way, and what happened next. William Cohan takes us inside the company's boardrooms and factories with a rollicking and fascinating tale of corporate brilliance, bitter infighting, business daring and monied folly that illuminates not just General Electric, but the world and economy it helped create

—— Charles Duhigg

With the sweep and authority of an accomplished historian, the digging of a fearsome investigative reporter, and the storytelling skills of a novelist, Bill Cohan takes us from the 19th Century birth of GE, to its rise as America's most valued company in the 20th, and to its near death in the 21st. With incredible access to Jack Welch and the major actors in this drama, he paints a panoramic view of America and of capitalism, how it has changed and still must

—— Ken Auletta

Cohan rides this wild tale like a racehorse to the bitter end. It's all here: the birth of this most American of inventive American companies and the triumphs, flaws and missteps to come. If at 130 years old, GE has indeed fallen, this masterful work remains

—— Mark Seal

For most of our lives GE was one of the familiar, trusted U.S. companies, and in the early 2000s still the biggest company on earth. In one generation this icon of the American corporate imperium has turned into an icon of American corporate failure. We're fortunate that the great business chronicler William Cohan has now applied his extraordinary reporting skills and lucid, knowing prose to tell this story in breathtaking detail from beginning to bitter end. Power Failure is fascinating and definitive

—— Kurt Anderson

This epic tale of arguably the most dominant corporation in American history has it all: money, power, sex and larger-than-life characters, from Thomas Edison to "Teflon Jack" Welch and beyond. Cohan's fine pacing and narrative flair make for a page-turner that becomes a compelling story of American capitalism itself

—— Jonathan Alter

Power Failure by William Cohan is a tour de force of reporting, a deeply researched chronicle of the flawed personalities and dysfunctional company politics that led General Electric, once hailed as the great American corporate success, to self-destruct. The story reads like a tragedy

—— Liaquat Ahamed

the book is magisterial in its scope. He describes the reasons for the current distortion of the markets and why wealth and income disparity were so pronounced in the last 20 years. He lays blame on the Federal Reserve and central banks around the world distorting the markets with low interest rates. You'll want to buy this book and get it the first day available.

—— John Mauldin , Thoughts from the Frontline

Edward Chancellor argues that low interest rates, of the sort that prevailed since the financial crisis and until this year, are a catastrophic mistake because, as the great financial journalist Walter Bagehot wrote, they lead people to "invest their savings in something impossible - a canal to Kamchatka, a railway to Watchet, a plan for animating the Dead Sea, a corporation for shipping skates to the Torrid Zone". Cryptocurrencies are the Kamchatka canals of today. Their collapse, in Chancellor's view, is just the beginning of a great unravelling. The book is persuasive, perfectly timed and, for a work on such a nerdy subject, gripping.

—— Emma Duncan , Times Writers’ Favourite Books of 2022

a blistering polemic against the evils of artificially low interest rates. Right on cue, the gravy train of ultra-loose monetary policy has come to a halt. Perhaps you should therefore not just buy this book but sell all your stocks ... The Price of Time addresses the biggest economic question of the past 15 years. Have the experimental monetary policies pursued by the world's leading central banks since the financial crisis of 2007 and 2008 been a miracle cure or an epochal mistake? It situates this contemporary dilemma in a rich historical context. For this is just the latest instalment of an ancient debate over the nature and role of interest in a well-functioning economy. ... Capital allocation has been distorted; investment risk mispriced; pensions systems destabilised; social mobility fossilised; and moderate investors polarised into idle rent-seekers or you-only-live-once speculators. Chancellor makes a compelling and disturbing case that excessively loose financial conditions lie behind them all. ... The carnage being wrought by even the modest increase in borrowing costs so far in 2022 is not encouraging. At least if you've read this scintillating book and heeded the infamous Chancellor signal, you'll know what needs doing when we emerge from the wreckage.

—— Felix Martin , Reuters

Chancellor's panoptic survey of the history of interest, and what classical economists said about it, will not fail to dazzle

—— Economist

a sweeping historical analysis of how our financial system once again became untethered from the world it is supposed to serve. At the heart of such derangement, Chancellor argues, is a single factor: artificially low interest rates. As he reminds us, interest rates are the most important signal in a market-based economy, "the universal price" affecting all others. Interest is best defined as the time value of money, which Chancellor artfully renders as "the price of time." It is the price that informs every key financial decision-saving, spending, investing. Suppressing the rate of interest is a powerful way to boost an economy otherwise bound for recession, but it is a dangerous one. It is to finance what opiates are to medicine, a distortion of perception disguised as a cure. ... Chancellor's learned and engrossing history concludes with a somber warning. Compared with more heavy-handed forms of government intrusion, central bankers' manipulation of interest rates may seem rather innocuous, and it is much less likely to provoke howling objections from ordinary citizens. But more than any other, it threatens the efficiency and integrity of the free-enterprise system. Behind the price of time is the priceless right of freedom.

—— Adam Rowe , Wall Street Journal

every bit as gripping as any science fiction novel. It's an amazing book ... truly magisterial in scope

—— John Mauldin , Thoughts from the Frontline

Superb! A worthy successor to Devil Take the Hindmost.

—— William Bernstein , author of The Delusion of Crowds

Praise for Devil Take the Hindmost

—— ---

An admirably researched and very well written account of speculative insanity from the earliest times to, let no one doubt, the present.

—— J.K. Galbraith

Entertaining, useful, admirable scholarship... Chancellor seems to have read everything.

—— New York Times Book Review

Praise for Crunch-Time for Credit?

—— ---

There was no single, dominant, astonishing voice in the wilderness in the debate on the credit crunch, but... Edward Chancellor, an economic historian, foresaw almost everything.

—— Charles Moore , Daily Telegraph
Comments
Welcome to zzdbook comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Copyright 2023-2024 - www.zzdbook.com All Rights Reserved