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Summary

In an engaging style based on extensive research, Paper Money  Collapse shows conclusively why paper money systems - monetary  systems that are based on an elastic and constantly expanding  supply of money (such as our system today) as opposed to a system  of commodity money of essentially fixed supply - are inherently  unstable and why they must lead to economic disintegration. All  paper money systems in history ended in failure. The book shows why  this must be the case and why it will also be the fate of the  present system. The conclusions are controversial as they go  against the present consensus, which holds that elastic state money  is superior to inflexible commodity money (such as a gold  standard), and that expanding money is harmless or even beneficial  for as long as inflation stays low. The book shows that the present  crisis is the unavoidable result of continuously expanding fiat  money, that the current policy of accelerated money production to  stimulate the economy is counterproductive and that,  if pursued further, it will lead to a complete collapse of the  monetary system.   Paper money systems are confidence games. When the public  realizes that the printing press is increasingly used to keep  states and banks solvent, this confidence will evaporate quickly.  The endgame will then be sovereign default, hyperinflation and  economic chaos.

Duration: about 10 hours (09:51:31)
Publishing date: 2020-07-20; Unabridged; Copyright Year: 2020. Copyright Statment: —

• Business & Economics