Customers say
Customers find the book highly readable and extremely informative, particularly praising how effectively it explains the dangers of AI. They describe it as an eye-opener, with one customer noting its accurate depiction of AI developments. The pacing receives mixed reactions, with several customers finding it very scary to consider.
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“Essential reading” – Forbes
From the New York Times bestselling author of The New Great Depression and Currency Wars, a telling prediction for how AI will endanger global economic markets and security
In November 2022, OpenAI released GPT-4 in a chatbot form to the public. In just two months, it claimed 100 million users—the fastest app to ever reach this benchmark. Since then, AI has become an all-consuming topic, popping up on the news, in ads, on your messenger apps, and in conversations with friends and family. But as AI becomes ubiquitous and grows at an ever-increasing pace, what does it mean for the financial markets?
In MoneyGPT, Wall Street veteran and former advisor to the Department of Defense James Rickards paints a comprehensive picture of the danger AI poses to the global financial order, and the insidious ways in which AI will threaten national security. Rickards shows how, while AI is touted to increase efficiency and lower costs, its global implementation in the financial world will actually cause chaos, as selling begets selling and bank runs happen at lightning speed. AI further benefits malicious actors, Rickards argues, because without human empathy or instinct to intervene, threats like total nuclear war that once felt extreme are now more likely. And throughout all this, we must remain vigilant on the question of whose values will be promoted in the age of AI. As Rickards predicts, these systems will fail when we rely on them the most.
MoneyGPT shows that the danger is not that AI will malfunction, but that it will function exactly as intended. The peril is not in the algorithms, but in ourselves. And it’s up to us to intervene with old-fashioned human logic and common sense before it’s too late.
Our Top Reviews
Reviewer: B. King
Rating: 5.0 out of 5 stars
Title: Another Book in Which Jim Rickards Tells You Exactly What You Need to Know
Review: Okay, I admit. I’ve been reading Jim Rickards books since Currency Wars inn 2010. He has written about money and “the death of money.” About war games, the pandemic, international trade, gold (and more gold), and much more. And now he tackles GBT (Generative Pre-trained Transformer). Essentially, these are computer models that learn how to do things, only at speed-of-electrons faster than human wet-ware.So far, so good. If you’re into coding and this level of tech, you’ll love the book. It’s eye-candy. And if you’re barely fluent in this new lingo, read it anyhow because you’ll learn something and I mean important.Here’s my takeaway: GBT takes much decision-making out of human hands, and places the work inside a computer system. (trading the stock market, for example.) And if one or two or a few, or even a whole lot of people do this, it’s a thing and won’t change the world too much. But what happens with rapid growth towards widespread adoption? You know, the “everybody is doing it” approach. Well, if everybody is doing it, then everybody’s systems will make much the same sort of decisions, only much faster. That’s because, in many scenarios, many people’s systems “learned” their decision-tree processes in much the same way. And at this point, all the decision-steps are happening very fast, moving towards same or very similar outcomes. Which means that you can get flash-moves up or down. As in, eg, a market meltup or a market meltdown. And it’s all happening outside of the time frame of human judgment. That is, the systems move so rapidly that there’s no time for human wisdom to look at things and say, “Hey, something’s out of whack here. Don’t make that move.”Nope… By the time the human eyeballs and brain cells begin to intervene, the damage may be done. And in this sense, Rickards gives us all a serious lesson of caution about where this new GPT idea can go. Plus, this is before the proverbial Bad Actors (market scammers, criminals, state-level players like military orgs) do their nefarious thing.I can’t restate the entire book here. There’s all of the foregoing, and much, much more. In this sense, the book is definitely worth a read, and will offer plenty of thinking. Plus, check out the end-notes, which are deeply thorough and astonishing in breadth. Definitely a thoughtful, well-written, provoking tome. Add this one to your Jim Rickards library.
Reviewer: Big Owl
Rating: 5.0 out of 5 stars
Title: Impending Doom
Review: Rickards’ predictions are right again. He forecasts dangers of Artificial Intelligence replacing humans in the financial marketplace which are unfolding now–just like he said it would. Rickards discusses how financial markets are subject to a “doom-loop” which can happen at anytime. Are unstoppable. Discusses results of a financial war game simulation. Reader needs to be able to understand basic banking and economic concepts to fully appreciate Rickards book. Highly recommend. Author says a doom-loop is almost inevitable. Expect one to happen after April 11, 2025. Inevitable Z ok
Reviewer: Shirley Barton
Rating: 4.0 out of 5 stars
Title: Money GPT book
Review: It is a good informative book. Some was info was exactly what I was looking for
Reviewer: Tammy Kestler
Rating: 5.0 out of 5 stars
Title: An Intelligent, Honest Page-Turner
Review: I’ve read a lot of Jim Rickards’ work, yet this book is a surprise. The subtitle speaks of a “threat” – which makes the book sound like a downer but in fact it reads like an exhilarating back-and-forth between Rickards and AI that spans the world from China to the Situation Room to the NYSE to an American home.Rickards brings a huge amount of learning to the book (the “Selected Sources” list at the end of the book runs 24 pages!) spanning Homer, Aristotle, Poe, Heidegger, Alan Greenspan, Andy Warhol, Marshall McLuhan, Kissinger, Kubrick and a dazzling number of articles, books and academic papers I’d never have time to read. Yet all of the book is very readable, a page-turner.The book is full of observations like “When a robot trains on propaganda, it repeats propaganda” and “Showing that a deep learning machine is not as successful at innovation as a child makes a powerful case for excluding such machines entirely.” Rickards warns: “Never anthropomorphize the math.”Yet Rickards says AI is here to stay. My favorite sections of the book are the deep dives into history, computer “hallucinations” (or “confabulations” as Rickards clarifies) and even an excellent exploration of art beginning with Marcel Duchamp (Jim has long advised fine art as an investment and he knows his stuff).And of course Rickards’ advice about how to get and keep your money is useful for everyone from the beginning investor to someone rich enough to need to put their wealth in many different places (and Jim knows those places).Last of all, this is a book written with clarity and honesty. For all his intelligence, Rickards never speaks down to his readers. He is patient and they will learn a lot about AI, the world and money. And Jim is humble enough to end with “If there are any mistakes in this book, they’re on me.” If there are mistakes in this book, I didn’t see them. This book is a must-read at the right time.
Reviewer: ABZ
Rating: 5.0 out of 5 stars
Title: Scary Read
Review: James Rickards has written about worrying scenarios that could happen in banking. It’s a scary read, Rickards has a great imagination into the future. Horrified me because there is crisis going on in the economy and the average workers have no idea. This is book is an important buy for you and your family into surviving it’s not too late. For me it is best history lessons I have had. Recommendations: Permanent Distortion Nomi Prins, Who Stole My Pension Robert Kiyosaki
Reviewer: Ichiban
Rating: 5.0 out of 5 stars
Title:
Review: Jim Rickards a beaucoup de points communs avec N. C. Talent. Ils sont super érudits et super pédagogues. Leur démonstration est impeccable. Mais quand Taleb s’arrête après l’observation et l’analyse, Rickards se comporte en conseiller en gestion de patrimoine et fait ses recommandations face à l’apocalypse qu’il prévoit. On en tient compte, même si heureusement les apocalypses n’arrivent pas chaque fois qu’on les prévoit.
Reviewer: Scott B
Rating: 5.0 out of 5 stars
Title:
Review: James Rickards is by far best author, i read all his books and this one doesn’t disappoint!
Reviewer: YFn
Rating: 5.0 out of 5 stars
Title:
Review: Yapay zekanın hayatlarımıza girmesi ile yakın ve uzak gelecekte bizleri neler bekliyor? Fırsatlar ve tehditler neler olabilir? Oldukça yararlı bir kitap
Reviewer: Nirmal
Rating: 5.0 out of 5 stars
Title:
Review: In MoneyGPT, James Rickards shares his signature predictions of the danger AI poses to the global financial order, and the insidious ways in which AI will threaten national security. This book shows that the danger is not that AI will malfunction, but that it will function exactly as intended. The peril is not in the algorithms, but in ourselves. And it’s up to us to intervene with old-fashioned human logic before it’s too late. Rickards’ take is essential reading for anyone looking to navigate this tumultuous new AI climate.
Reviewer: Amazon Customer
Rating: 5.0 out of 5 stars
Title:
Review: Very good analysis, well explained and easy to understand. Interesting.
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