The Road to Ruin: The Global Elites’ Secret Plan for the Next Financial Crisis
By James Rickards
Portfolio Penguin
Review by Ashok Jainani
The global elite have set their eyes and minds on three things – “world money, world taxation and world order.” Since the last global financial crisis in 2008 that brought down Lehman Brothers and iconic banks, international monetary agencies have been issuing warnings, in their peculiar secretive ways to a small group of finance ministers, banks and private funds. James Rickards, the bestselling author of The Death of Money and Currency Wars hears a drumbeat that he pens down in his latest book. The signs of a worldwide financial meltdown are unmistakable. This time, the elites have an audacious plan to protect themselves from the fallout: hoarding cash now and locking down the global financial system when a crisis hits.
Rickards shows in this frightening, meticulously researched book, governments around the world have no compunction about conspiring against their citizens while describing the US government’s choice to bloat the economy with a $4 tn injection of credit at zero rates is driving us toward a cliff.
IE&M Take
“The only possible outcome of a system lacking any discipline is self-destruction”
Whatever is free is squandered. When water is free, it’s wasted. When electricity is free, there’s no motivation to use it wisely. The same holds true for money. If money is free in the hands of politicians/bankers, there is no motivation to invest it wisely. Money that can be borrowed for next to nothing or borrowed by governments in virtually unlimited quantity is essentially “free”. And when the time comes to pay up that debt, they invent ingenious ways. This time round, Rickards says, they will put the Ice-9 plan to work. The author, an economist, lawyer advises the US government’s intelligence community, argues that the complex global financial system is now not understood by pursuing old economic thinking. “Complexity theory makes a mockery of plans. The most likely path is the one no one sees.”
