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Planet Ponzi Hardcover – February 27, 2012


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Product Details

  • Hardcover: 387 pages
  • Publisher: Glacier USA LLC (February 27, 2012)
  • Language: English
  • ISBN-10: 0985036907
  • ISBN-13: 978-0985036904
  • Product Dimensions: 9.2 x 6 x 1.4 inches
  • Shipping Weight: 1.5 pounds
  • Average Customer Review: 4.8 out of 5 stars  See all reviews (36 customer reviews)
  • Amazon Best Sellers Rank: #1,665,400 in Books (See Top 100 in Books)

Editorial Reviews

Review

"Mr. Feierstein outlines, in simple terms, the mistakes that have been made by global policy makers.The description of a Ponzi scheme is very apt.Things could get a lot worse in coming years and decades" -- Julian Knight "Money Editor The Independent on Sunday"

Mitch Feierstein is one of the most precient and cogent observers of the economic crisis that has engulfed the world. He delivers his controversial views without fear or favour. If you want to understand the financial mess we are in now, you can't afford not to read him." -- Ruth Sunderland "Associate City Editor Daily Mail"

In a tightly argued delivery of his controversial views, arrived at from a ringside seat as a hedge fund manager operating throughout the financial crisis, Planet Ponzi indicts our rulers and financiers for running an elaborate Ponzi scheme that will most likely end in all of us losing everything. Beverly Chandler "Opalesque"

The book is a must read - Max Keiser on the Keiser report.  Max Keiser speaks with author Mitch Feierstein: youtube.com/watch?v=Vr5hAiUFW4s


We are all in serious trouble,all of us on this interconnected Planet Ponzi. There will be no happy ending for Ponzi schemes. The best we can do is understand what is inevitably coming and take thoughtful, painful decisions that will give us some protection as a nation and as individuals.This book is a great start -Ian Mann "FIN24"

From the Back Cover

As the global economy struggles to avoid meltdown, so the greatest Ponzi scheme in history approaches its final death rattle. Politicians have stood by and watched the financial industry create a massive overhang of debt, a mountain of low quality assets - and ultimately, an economic disaster which has dwarfed all others.
The Eurozone crisis and the LIBOR manipulation scandal are just two symptoms of a much broader problem: one of vastly excessive debt, regulatory failure, a culture of deceit on Wall Street and the City of London, and governments that have promised their citizens far more than they can deliver.
In Planet Ponzi, Mitch Feierstein tells you what's happened, what will happen next and how to protect yourself and your family. The must-read book on the financial crisis.

Customer Reviews

4.8 out of 5 stars
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See all 36 customer reviews
Finally, Mr. Feierstein is an engaging, extremely informative, careful writer with an entertaining style.
J. Nemeth
A very in-depth and accurate study of past and present choices of our Administrations that have led to today economic state of most of so-called developed countries.
Dott. Ing. Francesco Franzinelli
As an economist the evidence of our failing financial system is all around us our author simply sets the stage and connects the dots for us.
Stanley

Most Helpful Customer Reviews

16 of 16 people found the following review helpful By Dott. Ing. Francesco Franzinelli on February 7, 2012
One of the best books I've come across, conjugating economic science and everyday language, discussing otherwise intricate matters with a very sharp sense of humor. A very in-depth and accurate study of past and present choices of our Administrations that have led to today economic state of most of so-called developed countries. It explains in a very informal language, yet very solidly based, why and how our countries are facing the threat of default, never indulging in stupid catastrophic attitude, too common nowadays. Most important it gives you advices to soften the impact of this crisis on your own finances, no matter where you are located (Italy in my case, sig!).
For a mind like mine, I am an engineer not an economist, I've appreciated how the author deals with the matters always referring to officials and publicly available data, and never entering fields without an appropriate support of real and verifiable sources. He does not spend too much time on theories; he rather gives real world examples and tries to refer to down to-earth concepts to explain his points, never loosing a scientifically correct exposition.
His attitude is not much of one of the many priests unveiling the ultimate truth about the crisis we are facing, but rather stimulating our brains using everyday common sense to analyze the data we have under our nose. I've read the book in 3 days, even if, as I said, I am not one of the economic field. I gave it to read to my wife, (much smarter than me) she's enjoying it .
VERY HIGHLY RECCOMANDED!
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16 of 17 people found the following review helpful By Ben Williams on April 25, 2012
Format: Kindle Edition
I suspect that anyone who buys Planet Ponzi already understands the basic nature of the problems underlying the financial crisis, and that we are soon going to be entering the second, more severe phase. I am one of those, and although reading the book didn't change how I saw the world, it certainly provided valuable detail as to why I see things the way I, and others do. It also gave me a clearer idea of how I should be planning for the final collapse.

The author is scathing and unrelenting in his exposure of all the relevant events, and his analysis of our current situation, where we are teetering on a wave of sovereign defaults followed by bank collapses, is right on the money. My only criticism is that he is too ready to dismiss darker outcomes. He optimistically believes that all this will lead to a brighter future where a new open and honest form of political and financial government will rise from the ashes of Planet Ponzi. That is possible, but you don't need to look far back in European history to realize that populations and politicians alike do not always react in the best ways to these sorts of crises, especially when democracy has been so badly denegrated by the likes of Blair and now Obama.

As a writer myself( Deadly Medicine), and a scientist, I detest the puerile pulp the MSM feeds us. Planet Ponzi is the opposite, and is an excellent, well researched piece of work, with a clear central thesis backed up by verifible facts that all financial journalists or anyone who wants to develop an in depth understanding of the situation should read.
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6 of 6 people found the following review helpful By J. Nemeth on November 19, 2012
Format: Paperback Verified Purchase
I read the hardback edition of Planet Ponzi last year, and it is a totally documented treatment of the sorry state of the international finance--the lack of concern and service to clients, the outright greed of Wall Street, and the complicity of govenments, particularly the USA and UK.

Finance is not my area of expertise, I am a scientist, and would not normally even read such a book. I read Planet Ponzi twice. I love this new paperback update, as well. Everyone who cares about the economic future of our country and how that squares with the foibles of the EU and rest of the world should read this book and then take proactive means to change the poor behavior of the United States Congress.

Finally, Mr. Feierstein is an engaging, extremely informative, careful writer with an entertaining style.
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4 of 4 people found the following review helpful By William Podmore on October 9, 2012
Format: Hardcover
Mitch Feierstein is a successful hedge-fund manager based in New York. This book is a scorching attack on greedy bankers and useless venal politicians. It tells the story of `how politicians in Washington and the bankers on Wall Street jointly created the largest Ponzi scheme in history'. What is a Ponzi scheme? It involves huge amounts of rapidly mounting debt, poor, nonexistent or inadequate assets, deceitful or nonexistent accounting, feeble, inert, or toothless regulators, a get-rich-quick culture, ignorant, lazy, greedy investors and an astonishing capacity for self-delusion. And it caused the present crisis.

Then governments force cuts on the public, not on the 1 per cent who caused the crisis. Between 1998 and 2010 Wall Street and insurance companies added just 4.3 per cent to US output, yet took 28.9 per cent of all US profits.

US politicians blew $3 trillion on the Iraq war and $1 trillion on the Afghanistan war. The US Federal Reserve secretly lent $7.7 trillion to the bankers - RBS got $1.2 billion. In 2008-9 the US government bailed out AIG. Goldman Sachs, Merrill Lynch, Société Générale, Deutsche Bank and UBS got $32.7 billion. Goldman Sachs paid out $16.2 billions in bonuses in 2009. Gordon Brown also borrowed to bail out banks and bank creditors, many of them foreign.

The total US bailout has cost taxpayers $23.5 trillion so far, a loss which equals 170 per cent of national income. By contrast, Sweden is 15 per cent to the good, because when it had a bank bust in the early 1990s, it made the shareholders bear the costs.

But Ponzi schemes are not limited to the USA.
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More About the Author

Mitch Feierstein knows the financial industry inside out. For the past 30 years, he consistently created opportunity and value where others have failed to look. He is a highly successful hedge-fund manager and CEO of the Glacier Environmental Fund Limited. Prior to Glacier he was Senior Portfolio Manager of the Cheyne Carbon Fund, part of one of the largest and best-respected hedge-fund groups operating in Europe. He has acted as a consultant for a number of governments in their disaster and contingency planning. He divides his time between London and New York.