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Summary

Penguin presents the unabridged downloadable audiobook of The Road to Ruin, written and read by James Rickards.

The best-selling author of The Death of Money on how investors can prepare for the next financial panic - and why it's coming sooner than you think.

The global economy has made what seems like an incredible comeback after the financial crisis of 2008. Yet this comeback is artificial. Central banks have propped up markets by keeping interest rates low and the supply of money free-flowing. They won't bail us out again next time. And there will be a next time...soon.

In The Road to Ruin, best-selling author James Rickards identifies how governments around the world are secretly preparing an alternative strategy for the next big crisis: a lockdown. Instead of printing money to reliquify markets and prop up assets, governments are preparing to close banks, shut down exchanges and order powerful asset managers not to sell. They're putting provisions in place that will allow them to do so legally. What's more, the global elite has already started making their own preparations, including hoarding cash and hard assets.

When the next one comes, it will be the average investor who suffers most - unless he or she heeds Rickards' warning and prepares accordingly.

James Rickards is the best-selling 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.

©2016 James Rickards (P)2016 Penguin Random House UK

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Superb!

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.

2 of 2 people found this review helpful

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Intriguing, scary, paranoid!

Any additional comments?

An interesting analysis of the history of the world financial market and the potential direction we are heading. Rickards comes across as a plausible commentator with a great deal of insight into the subject. However, the core concept of the book seems a little grandiose and paranoid to be realistic. I wholeheartedly believe much of it is possible but the end game seems unlikely.

Why would this mysterious global elite want to turn capitalism into socialism when capitalism is what made them rich in the first place?

2 of 2 people found this review helpful

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More like James Rickards fanciful autobiography

This book is extremely poor in terms of content - I grew very tired of all the stories along the lines of "then I had a meeting with the CEO of this bank" "then I presented to the board of xyz" "then I met so-and-so".

It's just a long biography of things the author may or may not have done though his career, name dropping at every opportunity and providing nothing in the way of real substance. Avoid.

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wow

one of the best non-fiction books ever that I have listened to. very recommendable. it gives a lot of perspective on our current financial and political situation in the world.

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  • Momoto
  • Dublin, Ireland
  • 03-01-18

Too paranoid or not paranoid enough?

Well narrated, and pretty coherent. If you’re a adherent of the paranoid style in American politics then you won’t doubt any it is true. I found the ideas on complexity theory/historical analysis were really interesting, also the battle lines of state and private/corporate power. At the core is a simple idea - the world is too complex to try and model, don’t try, look to the past. Also the motivation of the global statist elite and the push for a cashless society was pretty compelling - though I don’t see how hyperinflation and negative interest rates go together. Only complaint was he goes off on some tangents - portfolio balance,

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Excellent

Very informative book, this is a real insider information, hopefully it doesn’t happen, but the chances are enormous. James Rickards has done a great job. Highly recommended to whom want to be prepared.

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Real eye opener.

Buckle up and hold tight.
Times are about to change. most people can't see it coming!

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Enjoyable and thought provoking.

With a view so counter-popular thia might be one that will be praised really only with hindsight.

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Take action book

This book is extremely insightful with detailed accounts of historical crashes, dates and references to financial moments in history and and psychological angle on human behaviour. This book is an ultimate call to action, not only to buy assets but to invest in further education! Thank you Jim for passing on this 'wealth' of knowledge! 👍🏼🤗

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A must read! Pick it up now!

One of the best books ive read this year. It's very insightful and explained very well by the author.

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  • ENI STEPHEN
  • 09-05-18

An impressive masterclass in global finance

James Rickards boldly puts answers to various troubling macro economic questions in our time. The sustainability of the endless expansion fueled by money printing, leverage and its atendant moral hazard is put to the test perhaps better than most other writers in similar series. Highly recommended read if finance brings to you more questions than answers

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  • M. Russell
  • 05-01-17

Almost (but not quite) beyond belief

If you could sum up The Road to Ruin in three words, what would they be?

Tomorrow's world Today

What other book might you compare The Road to Ruin to and why?

On the Beach - Neville Shute

What about James Rickards’s performance did you like?

Quietly lucid and easy to listen to

Was there a moment in the book that particularly moved you?

Well researched and support insights on every page from someone deep inside the world of money and currency (you'll soon discover the difference) I constantly had to remind myself that Ian Fleming's James Bond could not have done a better job - main;t because that was fiction. If you want the history of the banking system it's here

Any additional comments?

Fascinating.