The New Case for Gold

By James Rickards

Book About Gold Review

If You Want to Understand the Relationship of Gold to the Monetary System, and How it is Likely to Evolve, You will Dig “The New Case for Gold” Book

 

 

Why Read or Listen “The New Case for Gold”

I listened to this audiobook as soon as it was published.  As a precious metals dealer, I am into just about all aspects of this fascinating metal.  Maybe the most relevant aspect of gold is its relationship to the monetary system. It could be said that since the end of the dollar to gold convertibility standard the international monetary system is no longer backed by gold.   This event was announced together with other measures, on Sunday, August 15th, 1971, ended the US Dollar being backed and redeemable by gold.  Among other names for the event, “are close of the gold window”, “End of gold-backed US Dollar” and other terms.   This is where the international monetary system is at now.  Learn More.

 

Summary of “The New Case for Gold”

James Rickard explains in great detail, with all the associated nuances, what is the most likely progression of the monetary system after already, at the time of writing this book review, 49 years, since the end of the gold back US Dollar.  One of the possibilities, according to Mr. Rickards, and others is that eventually the US Dollar, under pressure, becomes a regional currency, mostly for use in the United States, and the IMF Special Drawing Righ (SDR) substitutes the US Dollar as world reserve currency.  Not only that, but most likely, to give currencies credibility again, the SDR, the US Dollar, Euro, etc become at least partly backed by gold.  The last time such an international monetary system happened was with Bretton Woods Conference Agreement

Summarizing this complicated subject is not easy.  That is why it takes a complete book to explain it.  Mr. Rickard does a great job at this.  Complicated problems rarely have simple solutions.   The postulations of this book are very real and well supported by facts.  Something will happen.  It is a matter of what and how.  Certainly at least a variant, or something with the element of what Mr. Rickards indicates, will be part of the next version of the international monetary system.  To say the least, the geopolitical implications are huge.  To begin with, according to his calculations, if gold would back the system at no more than 30%, gold would have to be at least $5000 an ounce.

 

Opinion “The New Case for Gold”

I highly recommend “The New Case for Gold” by James Rickards.  I listened to the book in audio from Audible.com.  So far I have listened to all of James Rickards books.  I recommend starting with his book Currency Wars.  Reading “The New Case for Gold” will provide a good foundation for understanding the current international monetary system situation, and how it is likely to evolve.  If you are into gold or finances, you will enjoy this book and learn a lot from it.