Federal Reserve Chairman Ben Bernanke is a riverboat gambler who has embarked on the greatest economic gamble in the history of world finance. But unlike the gambler who can squander only his own fortune, Bernanke’s gamble has created a worldwide crisis. Through quantitative easing, the Fed has declared currency war on the world.
In Currency Wars: The Making of the Next Global Crisis, Rickards discusses how nations have purposely debased their currencies both to benefit themselves and hurt others. He posits that there have been three currency wars just since 1900, and we are currently engaged in the third one. The first, Rickards writes, lasted from 1921 to 1936. The second was from 1967 to 1987. The one happening now began in 2010.
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