M. Mountain

Helpful votes received on reviews: 97% (57 of 59)


Top Reviewer Ranking: 888,852 - Total Helpful Votes: 57 of 59
Paper Money Collapse: The Folly of Elastic Money a&hellip by Detlev S. Schlichter
57 of 59 people found the following review helpful
Schlicter's analysis is certainly controversial, and I must admit that I started reading Paper Money Collapse with a degree of scepticism. However, the logic of his argument is compelling and, upon concluding the read and reflecting, the reason behind many recent world economic events becomes evident. A good example is the inability of western economies such as Japan and the US to stimulate growth, despite repeated attempts at monetary expansion.

He begins with a clear explanation of what money is and how it works; how it began as a pure commodity currency, morphed into a paper currency backed by gold, changed again through the process of Fractional-Reserve Banking and has today… Read more