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Fiat Paper Money; the History and Evolution of Our Currency Perfect Paperback – 2010

4.9 out of 5 stars 18 customer reviews

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Product Details

  • Perfect Paperback: 281 pages
  • Publisher: Foster Publishing; 2nd edition (2010)
  • Language: English
  • ISBN-10: 0964306611
  • ISBN-13: 978-0964306615
  • Product Dimensions: 10.9 x 8.4 x 0.7 inches
  • Shipping Weight: 1.6 pounds
  • Average Customer Review: 4.9 out of 5 stars  See all reviews (18 customer reviews)
  • Amazon Best Sellers Rank: #386,250 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

Verified Purchase
In these current times (2010) when currency wars are looming, this book can act as a convincer to protect yourself. Curreny collapse has happened many times in the past and this book rams this home. It provides a mass of historical evidence which is most interesting and not readily available elsewhere.
I dabble in the stock market and this book provides another arrow in my quiver of knowledge to help foresee what is coming.
Fully recommended.
John Allen. Australia
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An excellent historical review of fiat money from the early Chinese empires through present times. Thoroughly researched and cited throughout, the book details the earliest attempts at using currencies with values set by fiat. The author meticulously details the lifecycles of currencies from ancient times through the present day.

All fiat currencies have a common story -- what starts out as a receipt for something of actual value becomes debased through fractional reserve banking and excess money and credit generation. This leads to an illusory economic boom, followed inexorably by a collapse -- the fiat currency becomes worthless through deficit spending and excess issuing. Anyone holding it at the end loses everything.

This book will do more to preserve your wealth than 1000 financial and investing guides combined.
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This book ought to be mandatory reading at the high school level. If there is any book that should be read, it's this book! It explains what money truly is, which is a shared belief that a certain pattern of ink on a special type of paper, is actually worth something. When that belief is weakened, or vanishes entirely, then that paper becomes exactly what it's worth, mere ink on a piece of paper, worth no more or less than any other piece of paper with ink. And paper is very, very common unlike other assets that are actually worth something due to a real genuine scarcity or industrial use.

The book then goes on to talk about how governments ultimately end up making a fiat currency worth less through time, to the point of the currency becoming worthless.

Read this book! It will impact your life more than any book Oprah could recommend.
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Foster's thorough review of fiat paper money throughout history will convince even the habitually undecided to trade their paper currencies for gold or silver as soon as possible. This book is an 11 on a scale of 10. Ralph T. Foster has done us all a favor.
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I learned more about the "history of the world" than in all my years of school. It let me see the "big picture" through the financial lens of "money" and how it affects every aspect of society. It's almost like a study in human behavior, a glimpse of where we've been and probably where we're headed. Thank God someone is out there putting this information together and opening our eyes. Absolutely the only "money" book you need. It's like you've bitten fruit from the tree of knowledge. Once you've read this book you will basically know all there is to know, seriously. Should be taught in school.
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Ralph Foster has greatly simplified the argument against fiat currencies. Rather than join the many esoteric arguments for and against fiat currencies ongoing today, he provides dozens of case histories of the attempts to use fiat currencies all over the world in the centuries since the invention of paper. In virtually every case, the end game is the same: devaluation of the currency by excessive printing of un-backed paper money. While he does not explicitly detail the devaluation of the US dollar since the closing of the US gold window in 1971, the comparison is plain to anyone that looks at the amount of gold that can be bought with a dollar from then to now.

This is a historical book with great relevance to modern times.
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ONE can find on the subject of PAPER MONEY.

BAR NONE.

I have a master's degree in management and finance - this is the BEST one
BOOK you can read.
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The author this volume avoids the pitfall that many texts on similar subjects fall into. It stays on task without being boring, and the author drives his point home without beating you over the head. It is a good fast read and is a good point to start a exploration how we got where we are today with fiat currency. A bit pricy but you get what you pay for. I recommend this Book.
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