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What's Wrong with Money?: The Biggest Bubble of All Hardcover – March 7, 2016
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From the Inside Flap
Over the last century, the concept of money has gradually changed from a currency backed by tangible assets with intrinsic value, such as gold and silver, to what backs money todaytrust. There's nothing behind dollars, euros, sterling, yen, francs, and any other fiat currency but trust that someone else will accept it. What's Wrong with Money? provides revealing insights into how and why money is valued and sheds light on the warning signs that one day no one will accept it because of a systemic collapse.
Written by a pioneer and innovator in inflation- related markets, this timely resource illustrates how the erosion of trust in central banks has increased the risk of both near- and long-term inflationas well as a potentially major disruption. He offers a refreshing walk through the history of currency, which shows the numerous ways past currencies have fallen apart.
More than a cautionary tale, this complete guidebook to protecting your wealth gives you concrete ways to invest in any type of collapse scenario, as well as an insider's perspective on the warning signs that will signal an imminent shock to the financial system. Whether you're new to investing or want authoritative guidance on rebalancing your existing portfolio for the future, this practical guide lets you take action right away with:
- Detailed and engaging examinations of the importance of money and the inherent problems and risks with money backed only by trust
- Straightforward approaches to setting a course for your financial independence through building an inflation-aware portfolio
- Easy-to-implement techniques for infusing the benefits of liability-driven investing into individual portfolios
The response by central banks and legislatures to each financial crisis degraded another fundamental financial layer. The crumbling equity market got repaired at the cost of the housing and credit markets, and the housing and credit markets got repaired . . . at what cost? What's Wrong with Money? The Biggest Bubble of All fully prepares you to retain your wealth no matter what the currency is worth.
From the Back Cover
AN EXPERT GUIDE TO SURVIVING COMING INFLATION AND POTENTIAL DISRUPTION
What's Wrong with Money? The Biggest Bubble of All offers a revealing and lucrative framework for considering the impending inflationary period when making investments. Go behind the scenes of the legislation, policy, and history of what makes money valuable with a recognized authority on inflation and inflation-related products. In a conversational narrative supported by illustrative charts and diagrams, he connects the dots between the actions of central banks in response to market bubbles and shows how they disastrously eroded our financial system by:
- Highlighting historic patterns in monetary value and the possible outcomes of the current situation
- Demonstrating the causes behind money devaluing slowly and quickly
- Detailing a variety of investment strategies for gaining an edge no matter how money collapses
- Examining the potential causes of monetary erosion, how it leads to inflation, or, in extreme cases, hyperinflation, and enabling you to determine your "personal inflation" with an exclusive online tool
By knowing What's Wrong with Money?, you can ensure your wealth is well protected.
Top customer reviews
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I'm a layman with more of an engineering and technical background and have always been a bit bored by discussions of economic theory. Michael has not only made the topic interesting (and at times entertaining) but he has really opened my eyes to the potential perils to the economy due to the unprecedented actions of the Fed. He not only has some thoughtful ideas on how to keep the markets from severe decline (increase the amount of reserves that banks need to hold) but gives excellent principles on how to invest to take inflationary pressures into account.
With this new book, Mike is bringing his expertise to the small investor wanting to hedge the inflation risk inherent in long-term investing. Mike is a wonderful teacher and writer who has honed his ability to to deconstruct complex concepts into easily understood components for beginners. Every reader should gain something from this book, but it will be especially useful for individual investors endeavoring to optimize long-term returns in their retirement accounts. The insights on compounding and measuring inflation are especially important.
Because Mike is an active investment advisor, he can't give any specific investing advice for legal reasons in the book. This is unfortunate. To fill in one important gap for small investors, readers should Google "Why should TIPS be put in an IRA" to learn more about the tax implications of this useful investment for hedging inflation risk in retirement accounts.
Readers might find some of these links also provide relevant information and resources to complement the book -
Utterly readable and riveting something that just HAD TO be written. It explains the function of excess bank reserves in keeping the lid on inflation for mow, while lose monetary policy is staying in uncharted ex territory. It also has some really cool tips on how to protect your portfolio against the potential dangers of a monetary collapse. When the collapse happens, you will want to have read this book.
Mike is one of the few real practitioners who understand the monetary and inflation dynamics from the front line of a trading room. And that allows him to point out where the academics in the central banks have blind spots.