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The Golden Revolution: How to Prepare for the Coming Global Gold Standard Hardcover – April 10, 2012


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The Golden Revolution: How to Prepare for the Coming Global Gold Standard + The Death of Money: The Coming Collapse of the International Monetary System + Currency Wars: The Making of the Next Global Crisis
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Product Details

  • Hardcover: 214 pages
  • Publisher: Wiley; 1 edition (April 10, 2012)
  • Language: English
  • ISBN-10: 1118136489
  • ISBN-13: 978-1118136485
  • Product Dimensions: 1 x 6.4 x 9.3 inches
  • Shipping Weight: 14.4 ounces (View shipping rates and policies)
  • Average Customer Review: 4.4 out of 5 stars  See all reviews (12 customer reviews)
  • Amazon Best Sellers Rank: #876,922 in Books (See Top 100 in Books)

Editorial Reviews

From the Inside Flap

The protracted global economic crisis has awakened the long-dormant debate about whether the United States or other countries should reinstate some form of gold standard. While not surprising given that there is now general agreement that excessive money and credit growth played a key role in the near collapse of the global financial system in 2008, in fact a return to gold is inevitable at this point. John Butler makes a compelling case in this book that there is simply no other way to restore a sufficient degree of credibility and trust in the dollar, or other major currencies for that matter, without a return to some form of gold standard.

Already there are a number of major countries expressing concern about the stability of the dollar. And concern is increasingly giving way to action. As the dollar′s role gradually declines, global monetary arrangements are likely to become increasingly multipolar, as there is no single currency that can realistically replace the dollar as the preeminent global monetary reserve. As students of economic history will note, it was precisely a multipolar world amid rapidly growing international trade that ushered in the classical gold standard in the 1870s. The world′s 40-year experiment with purely unbacked fiat currencies is thus rapidly approaching its conclusion.

This book, however, goes much farther than predict a return to gold. It explores just what the transition might look like, including both orderly and disorderly scenarios and drawing on historical examples where relevant. It considers to what extent the price of gold will likely rise as it becomes remonetized. Most important, it prepares the reader with practical investment advice for the coming return to gold, including thoughts on interest rates, exchange rates, credit spreads, equity market valuations, and risk premia for assets in general. As such, John Butler provides not only a compelling vision of the future, but also a detailed road map for navigating what is likely to be the most challenging investment landscape in generations.

From the Back Cover

PRAISE FOR THE GOLDEN REVOLUTION

"John Butler provides much illuminating detail on how the world′s monetary system got into its present mess. And if you′re wondering what comes next, this is the book to read."
--Bill Bonner, author of the New York Times bestsellers Empire of Debt, Financial Reckoning Day, and Mobs, Messiahs and Markets

"John Butler has written an indispensable reference on the subject of gold as money. His book is a combination of history, analysis, and economics that the reader will find useful in understanding the use and misuse of gold standards over the past century. He breaks the book into a long series of essays on particular aspects of gold that the reader can take as a whole or in small bites. It is technical yet accessible at the same time. The Golden Revolution is a useful and timely contribution to the growing literature on gold and gold standards in monetary systems. I highly recommend it."
--James Rickards, author of Currency Wars: The Making of the Next Global Crisis

"In The Golden Revolution, John Butler makes a powerful case for a return to the gold standard and offers a plausible path for our nation to get there. Enlightened investors who blaze the trail will likely reap the greatest reward. For those still wandering in the dark, this book provides necessary light to keep you headed in the right direction."
 --Peter Schiff, CEO, Euro Pacific Precious Metals; host of The Peter Schiff Show; and author of The Real Crash: America′s Coming Bankruptcy--How to Save Yourself and Your Country

"John Butler′s historical treasure trove empowers the reader to understand, prepare, and act. To have a chance to emerge unscathed from financial turmoil, join the Golden Revolution. I have."
--Axel Merk, Merk Funds; author of Sustainable Wealth

"The Golden Revolution is another indispensable step on the road map back to sound money. John Butler′s experience of the modern ′fiat′ banking world, combined with his understanding of the virtues of a disciplined monetary system, allow for genuine insight into the practical steps that could, and surely will, be taken to reestablish gold as money."
--Ned Naylor-Leyland, Investment Director MCSI, Cheviot Asset Management

"Ex scientia pecuniae libertas (out of knowledge of money comes freedom). John has used his exemplary knowledge of money to lay out a cogent framework for the transition of society based on fiat money to a more honest society forged by gold. He has taken complexity and given us simplicity. Monetary economics and its interrelationship with geopolitics, finance, and society is extraordinarily complex, but he has managed to assimilate a vast array of information and distill it in a simple and thoroughly thoughtful framework. That is an art many academic writers never achieve."
--Ben Davies, cofounder and CEO, Hinde Capital

More About the Author

John Butler worked for over 15 years as an interest rate, foreign exchange, and commodity strategist at major banks around the world before founding an independent investment and advisory firm in London. He has written extensively on financial topics, and his work has been cited in the Financial Times, the Wall Street Journal, and the Frankfurter Allgemeine Zeitung, among other publications. He is also the author and publisher of the popular Amphora Report newsletter and is an occasional speaker at global investment conferences. He resides in the English countryside with his wife and four children.

Customer Reviews

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Mr. Butler sheds some light on what led up to Nixon's decision.
Keith Weiner
It is a rare historical circumstance that the best investment to protect one's assets is simultaneously the best asset class for the greatest gain.
Kevin Massengill
The author rightfully points out that rebalancing worked naturally under a classic gold standard without any harmful intervention.
Jon David

Most Helpful Customer Reviews

29 of 29 people found the following review helpful By Jman on March 25, 2012
Format: Hardcover
Many books analysing the ongoing economic crisis and fallout from the 2008 credit crunch are either overly polemical and anectodal or overly technical and dense. The Golden Revolution falls into neither of those traps. Fast-paced, engaging, touching on history, politics and economics, this is a fantastic and timely read for anyone interested in getting an edge on understanding the causes and predicting the consequences of the current macro-economic malaise. You don't need a PhD in economics from the University of Chicago to appreciate this book, and even if you don't agree with Butler's premise that a return to the gold standard is inevitable -- be it preferably by means of a proactive and managed policy change by the US, or as an emergency US response to a monetary attack by one or all of the BRIC countries -- you will enjoy this book which among other things probes the link between the advent of fiat currency since Nixon's decision in 1971 to end USD gold convertibility and the severe boom and bust cycles experienced since then. The asset value and investment strategy implications of a return to the gold standard are also thoughtfully considered. Notwithstanding its thesis, this book is neither a gold nutter or Austrian School of Economics manifesto, but rather a well constructed historical, monetary and economic argument in praise of a return to the gold standard by an experienced financial markets professional. Don't read this book at your peril!
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24 of 24 people found the following review helpful By Jon David on March 25, 2012
Format: Hardcover
The Golden Revolution: How to Prepare for the Coming Global Gold Standard

Chairman Bernanke's recently gave a lecture about gold where he took aim at proponents of the "gold standard" saying that it handicaps the ability of governments to address economic conditions and hampers solving domestic distress. But what the chairman failed to talk about is what actually caused the economic distress in the first place.

John Butler, the author of the "Golden Revolution", examines how a fiat based monetary system where loose monetary policy creates "dubious" credit growth which in turn favours cheap consumption rather than savings and investment is indeed the root of the problem. What the author proposes is a return to a monetary standard that is open and fair, and does not favour a few insiders.

In a series of essays, John Butler in his "Golden Revolution" lays the ground work that offers the reader a road map back to that classic period of a working gold standard where the world saw almost no inflation and the value of a dollar was known to all. The author shows that under a loose monetary system in which central banks and governments have the power to print money and monetize assets of poor quality nothing will change and savings will be destroyed as the value of all currencies are debased. The author rightfully points out that rebalancing worked naturally under a classic gold standard without any harmful intervention.

In one of my favorite essays, John Butler discusses what a positive transition might look like and offers practical advices on how asset valuation and portfolio management would work under that classic gold standard.
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14 of 14 people found the following review helpful By Keith Weiner on September 11, 2012
Format: Hardcover
There are many books on the market today about the coming collapse of the global dollar-based monetary system. Many of them purport to help the reader "profit" from the collapse(!) Others are filled (just like the blogosphere from which they often come) with dark, conspiratorial whispers, psychologizing of leaders in government and finance, and preposterous ideas about how people actually think and act. They often contain policy prescriptions that consist of doing more of what caused the problem in the first place: politicizing banking and trading with even more regulations, taxes, prohibitions, agencies, etc.

I have not written a book review before now because I think those books are misguided. The nihilistic envy of corporations and banks is a part of the problem and not the solution. The idea that "real estate, stocks, and bonds have had their bubbles and now it's our turn" is naïve, at best.

The Golden Revolution by John Butler is not cut from the same cloth.

We have a perverse and self-defeating monetary system today. Without knowing how it evolved, where it came from, and what transitions occurred along the way, it is almost incomprehensible. One can listen to the talking heads on the mainstream media, the strident alternative financial press, or even economists who really understand, and still not understand why the monetary system is the way it is or how it operates. How is one to evaluate whether a failure of regulation caused the collapse of 2008 or whether China-India trade denominated in yuan will threaten the US dollar's reserve status?

Mr. Butler covers the history of what led up to 2008, without dwelling too much on details that will bore most readers.
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Format: Hardcover
John Butler made history with this book.
His high end background as a interest rates strategist in Deutsche Bank and Lehman Brothers make him unique ,since the fixed income arena is the place for the top minds in the business but also their ego does not let them see the facts about the current situation.John overcame such ego and informed the world about something huge that is coming.No emotions ,just the facts ,very different from most gold market commentator.A unique book from a former fixed income strategist.
Read and re-read it!A new financial world is coming!

Konstantinos S.Xeroudakis ACSI
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