x Abu Dhabi, UAEMonday 24 July 2017

The Day After The Dollar Crashes by Damon Vickers

Hedge fund manager, broadcaster and business analyst Damon Vickers rarely tires of retelling the greatest hits of his career.

Hedge fund manager, broadcaster and business analyst Damon Vickers rarely tires of retelling the greatest hits of his career. By his own estimate, he's "called the market" three times in a little over a decade - for the dot-com bubble, the subprime crisis and the subsequent financial meltdown in 2008 - and was an "early investor" in a slew of companies whose share prices only seem to rise while others fall. He's the man with the Midas touch, a real-life master of the universe.

Vickers' new book, which he bills as a survival guide to the "Armageddon of economic collapse", teases the prospect of the US dollar buckling under the weight of America's addiction to debt. Indeed, he unravels a convincing hour-by-hour scenario in which an overnight run on the Asian markets leads, within days, to chaos and then civil disorder on the streets of America. Shame then that just a few pages later he sheepishly admits that "I don't think that [scenario] is likely". It seems that America's principal backer, China, has too much at stake to let that situation occur.

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