Includes bibliographical references (pages 251-257)
Contents:
The history of money -- Central bankers : the alchemists of our time -- The history of the dollar -- A planet of debt -- The war on gold -- The big reset.
Summary:
What is money really worth any more? This compelling study outlines the rise of 'fiat' money and its associated economic implications. The author provides enough circumstantial evidence to claim a secret War on Gold since the London Gold Pool of the 1960s, highlighting gold's traditional role as the anchor of financial systems. To combat the economic fallout of the credit crisis, governments have allowed their budgetary deficit to increase dramatically. To redress that imbalance, they then have to sell enormous amounts of bonds. As investors stop buying bonds, central banks have to step up to the plate by printing more and more money. Piling more and more bad debt onto the balance sheets of central banks is not a sustainable way to revive the economy. Middelkoop highlights the process as part of our economic endgame which he predicts will eventually lead to a big reset of our worldwide financial system.
This resource is supported by the Institute of Museum and Library Services under the provisions of the Library Services and Technology Act as administered by State Library of Iowa.