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WWB's book of the year award: Currency Wars by James Rickards

Currency Wars by James Rickards  is a well written, understandable & exquisitely logical explication of the economic theory, policy & political economy that currently drives Fed policy. It is stunning in clarity, understandable and reflects the knowledge & perspectives of an obviously seasoned market practitioner who also has a detailed command of current scholarship & theory. The book is not the studiously inaccessible, self-referential work of an academic.

If you have ever had the unpleasant task of telling a sovereign state that… “we regret that in light of current conditions in the market, we have no bid for your paper and do not anticipate a change in that posture in the near to intermediate term. As your staff knows we have no available capacity with respect to our trading lines. We are seeing from time to time your paper trade away from us in the secondary markets at significant discounts and in disorderly manner. We will continue our dialogue and keep you apprised of market conditions as they develop”… you tend to develop a certain sensitive and personal understanding of liquidity.

So, if you’d like to follow how game theory, including war games, foots to the non-linear responses of chaotic systems, give it a go and partake of a very public  & needed sheep dipping of the policies of Bernanke & Timmy Geithner.  A complete reading in one sitting is a rare event, and you might just do it. 

We recommend the book to promote a broader, more accurate understanding of monetary policy & risk management in the context of global dynamics, and that to bring about constructive and timely reform.

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