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Money: How the Destruction of the Dollar Threatens the Global Economy - and What We Can Do About It Hardcover – Unabridged, June 3, 2014
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From the Back Cover
"Money clearly illustrates that sound money is an essential foundation for a free and prosperous society and that the Federal Reserve's current policies are a greater threat to the economic future of the U.S. than government deficit spending. This is an important book well worth reading."
John A. Allison, President and CEO, Cato Institute, and author of the New York Times bestselling The Financial Crisis and the Free Market Cure
"Few topics today are as misunderstood as the subject of money. Steve Forbes understands money better than most heads of state do, and in this provocative book he shares his vast knowledge and gives us sensible and time-tested recommendations for stopping future financial meltdowns."
Lawrence Kudlow, CNBC Senior Contributor
“Economic and monetary policies can be difficult to master for even the savviest politicians. Money effectively communicates these complexities into a cohesive argument for economic recovery and preventing a new financial crisis. Steve Forbes and Elizabeth Ames deliver a gripping read and an intriguing viewpoint on how to get our economy back on track.”
Greta Van Susteren, host of On the Record, Fox News Channel
"In this fascinating book, Steve Forbes makes the case for sound money and shows why a money system based on free trade--a system that allows the entrepreneurial dream to flourish--is not just good business; it also makes for a good society. Money is a rock-solid argument for the virtues of capitalism."
John Mackey, Co-founder and Co-CEO, Whole Foods Market; coauthor of the New York Times bestselling Conscious Capitalism
“Forbes and Ames’s case can be persuasive, especially on stimulus and inflationary risk.”
"Readable and entertaining . . . The closing chapters include helpful recommendations for how readers can preserve their wealth and hopeful suggestions for corrective major reforms that can help maintain current stability, end interest rate manipulation, and restore the nation’s economic health. . . . Highly recommended."
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Top Customer Reviews
Forbes and Ames argue that the economic problems of the last several decades are the result of the lack of stable currency, and that the means to a stable currency is the gold standard. "Without an economy based on stable money," they argue, "we will face an ever bigger government, stagnation, and ever more severe political troubles." That sounds pretty much like the story of the last 40 years, since Nixon abandoned the gold standard.
Money describes what money is: a measurement, a signal, basically information. Without a measure of what things are worth, transactions turn chaotic. Could a butcher sell his meat if the number of ounces in a pound was in constant flux? Could a builder build a house if he wasn't sure how many inches are in a foot this week? By the same token, an economy without a stable measure of value is subject to the whims of, well, the Federal Reserve.
Forbes and Ames are highly critical of quantitative easing, the most recent move to weaken the dollar. They write, "QE did not just fail as a stimulus. It prevented recovery by causing a destructive misallocation of credit" and caused "spikes in the prices of commodities that raised the cost of food and fuel, inflaming political divisions and unrest in many developing nations." Proponents of QE are followers of John Maynard Keynes's theories.Read more ›
For years I resisted Forbes's arguments, believing instead Milton Friedman's case for monetary policy and floating currencies as a necessary stabilizer of trade imbalances and economic volatility. But Forbes' relentless lucidity and sage insight broke down my defenses. This book takes charge of the debate and offers luminous answers to Friedman and to me. Money is a source of information and to manipulate it in the name of balance befogs the horizons of the economy, slows investment and growth, and stultifies entrepreneurs by lying to them about the real conditions of supply and demand. Trade is stimulated by a stable currency rather than by a specious one, and the greatest periods of trade expansion have come under a global regime of gold based money.
Arguing that money, like taxes, should be flat, Forbes, with venerable co-author Elizabeth Ames, explains with magisterial lucidity why low interest rates retard economic growth, why a weak dollar impedes trade and prosperity, why manipulation of the currency destroys productivity, and why 'quantitative easing' is a $500 billion windfall for big government and its cronies.Read more ›
He and Elizabeth Ames also clearly spell out what money really means to society. Money is..."a system of communication that allows people to meet needs in an economy by conveying what others value and desire." Another wow.
"Money" impressed me so much that I'm giving it to all my nieces, nephews, and godchildren as well a number of colleagues for their summer reading.
Most Recent Customer Reviews
There is absolutely nothing new here and it obviously was ghost writen, likely using press releases and warmed over talk-show transcripts. Read morePublished 1 month ago by Lukman
A bit simplistic for the initiated, but a great read for the uninitiated as to the economic impact of humanity's decisionsPublished 2 months ago by Freedom P.
This book show just how stupid the current administration is with their fiscal and monetary policies.Published 6 months ago by Robert R Wright
I have long been a believer in the gold standard for our currency and for the backing off of the Fed and their fiat money. Read morePublished 9 months ago by S. Warfield
Steve Forbes and Elizabeth Ames do a great job at tackling the issues with America's current monetary system and showing how the gold standard would resolve the world economy's... Read morePublished 9 months ago by JMGraberJr
not perfect - but good insights on what no one seems to mention or talk about - and a lot of corrections of many errors that most people and politicians seem to think is true... Read morePublished 10 months ago by Amazon Customer
Forbes makes an urgent call for reform of the American economy. he gets a few things right and a few things wrong.
1. Read more