ENGLISH

Paper Money Collapse: The Folly of Elastic Money and the Coming Monetary Breakdown

By Detlev S. Schlichter

Book information

Publisher
Wiley
Year
2011
ISBN
1118095758, 9781118095751
Language
english
Format
EPUB
Filesize
299 kB (306097 bytes)
Edition
1
Pages
288\0
Time added
2013-12-24 23:29:59

Description

All paper money systems in history have ended in failure. Either they collapsed in chaos, or society returned to commodity money before that could happen. Drawing upon novel new research, Paper Money Collapse conclusively illustrates why paper money systems—those based on an elastic and constantly expanding supply of money as opposed to a system of commodity money of essentially fixed supply—are inherently unstable and why they must lead to economic disintegration. These highly controversial conclusions clash with the present consensus, which holds that elastic state money is superior to inflexible commodity money (such as a gold standard), and that expanding money is harmless or even beneficial for as long as inflation stays low.

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