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The 7 Deadly Innocent Frauds of Economic Policy Hardcover – August 13, 2010
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Its not just tax money. The banks have accounts with the fed, much the same that you have an account in a Commercial bank. So, to lend to a bank, we simply use the computer to mark up the sizeof the account that they have with the fed.
Top customer reviews
It is always refreshing when you hear new ideas and views opposite from the statements which are constantly used by so called experts and media which are trying so hard to brainwash us constantly repeating the same lies.
It is even better when these new views are presented in a such a clear, simple and logical way so that everybody can understand them in contrast to smart talk that is usually served in TV and news with a single goal to make us only more confused in a hope that we would come to a conclusion that we are to stupid to understand all the complexity behind monetary policy so that we would leave the criminals alone to do their thievery.
Many views, ideas and solutions presented in this book feel like being more probably and having more sense then those then those our leaders are trying so hard to force upon us so that after reading the book you really feel like your eyes have been opened to the real problems and solution.
Book also reveals that so called experts aren't really experts and that so called politicians don't know any better. It is all just pretence and everybody are simply repeating like parrots what they were being tolled so that when they are confronted with views and questions they never learned to memorise they became speechless unable to comprehend what is it that they are being asked let alone how to answer it.
I took the one star off because all that I have said so far is related to the first part of the book while I found the remaining parts totally useless. They include autobiography from which there is nothing to learn while the end part contains solutions for current problems so I had so much expectations from that part. But I couldn't understand the most of it and it felt like it was done in hurry jus so that book could be finished. If the solutions were simple we wouldn't all be in so much trouble. So it is definitely not enough just to simply write few bullet points on what should be done. Each solution should have been explained in greater detail.
While I tend to accept his fundamental statements (e.g. the government neither does nor doesn't have money) to allow me to follow his thoughts, often I felt I only do so out of curiosity to see what else he has to say rather than having understood the point allowing me to proceed with reading. In other words, I missed the clear and strong foundation on which the rest was to be built.
Nonetheless, I consider this paper as a trailer to thick, serious, academic book. If that book is already written, let me know and I will surely read it. Otherwise, let me know once available!
This is a very provocative book. I do not mean that it is sensationalist or conspiratorial, just that it is a radical departure from anything I thought I knew about economics based on reading, business news, etc. I have a hard time finding any faults in Mr. Mossler's logic, but I do have questions. For example, another book, White House Burning (Johnson, Kwak), notes that revenue as a per cent of GDP is historically low. Yet, Mr. Mossler says, "Today, we are being grossly overtaxed for the current level of government spending..." How do we reconcile where we are historically (low taxes) with where he says we should be? Is the issue that for much of this history, we were on the gold standard?
Warren Mossler is not a great writer, but not bad either. He is mostly clear enough that he gets his point across. I do recommend reading this book, and I will probably read his more detailed book, Soft Currency Economics, as well.