Saturday, May 16, 2015

"The Death of Money"

James Rickards, Penguin, 2014.

I highly recommend, he's extremely informative and thought-provoking, although I disagree with some of his conclusions.
Here's an excerpt that I won't argue with:

"There are few more tendentious comments on gold than the a priori
statement that a gold standard cannot work today.  In fact, a well-
designed gold standard could work smoothly if the political will existed to enact it and to adhere to its noninflationary disciplines.  A gold standard
is the ideal monetary system for those who create wealth through
ingenuity, entrepreneurship, and hard work.  Gold standards are disfavored
by those who do not create wealth but instead seek to extract wealth from others through inflation, inside information, and market manipulation. 
The debate over gold versus fiat money is really a debate between
entrepreneurs and rentiers."