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4.6 out of 5 stars
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4.6 out of 5 stars
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on 22 February 2012
Having read almost all of the books written about the 2007/8 "Credit Crisis" and ensuing events, I have to say that "Planet Ponzi" is definitely one of the best by far.

Mitch Feierstein forensically details the shockingly dubious and some might say "fraudulent" accounting practices of governments and financial institutions all over the world and explains how trillions of dollars are spirited out of thin air while massive debts are "hidden" in financial black holes.

If you want to know what's really going on with our hard-earned taxes then I definitely recommend this book.

Considering how refreshingly eye-opening, fascinating, exposing and informative this book is, I am surprised "they" haven't tried to ban it being published.

More people should read this book - it's absolutely gripping and you will be amazed.

10/10 - Highly recommended!
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on 16 February 2012
This book explains in normal, human, understandable language just why and how the world finances are in such a mess. In essence I found this book extremely good for a number of reasons, but the clarity is uppermost for me. One of the reasons I never entered the "banking/finance/theft" business, despite having a certain aptitude for it, is because at a very basic, logical sense, it made no sense. In other words, the "value" and "accounting processes" used by banks and their ilk is completely fictitious.
In addition to this the gobblydigook double-speak of the fork-tongued individuals who mainly populate this realm is enough to send you into a catatonic stupor within seconds. And finally, it has been my experience (and I have rubbed shoulders with several multi-millionaires and worked for a few billionaires) that the people in this field tend to have characters so devoid of ethics it is genuinely difficult for me to relate to them. Feierstein deconstructs all the veils and shadows and the boring language and writes in an entertaining as well as educational style. His sense of humour is a mixture of the British dry and the American gut-punch, making him very funny indeed. His sense of ethics is impeccable too and the book is an easy read, as he does not use any of the banking jargon without first explaining (usually in a funny way) what any of it means in normal language.. My only reservation, though it makes no impact at all on the quality of the book or the information within it (which I verified independently on several instances), is that there is precious little information on Mitch or his hedge fund online. There is also no information on his hedge fund registered with companies house. None of this is particularly suspicious though, it is also my experience wealthy people and hedge fund managers are notoriously careful about leaving their details all over the net. And his hedge fund may be registered somewhere other than the UK.
In any event, the book is a joy to read and it should really be required reading for everyone. His advice at the end of the book on steps you can take to protect your money and investments (regardless of whether it's a few hundred bucks in the bank or a few millions) is extremely pertinent and valuable. I highly recommend this book to anyone and everyone.
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on 18 September 2012
This is one of the best books you will ever read and one of the most important. The author recounts in detail and in language even I could understand how a cabal of criminal bankers, criminal bureaucrats, criminal politicians and various other scoundrels of the global system have stolen your future and your children's future, very likely bankrupted the planet and almost without exception GOT AWAY WITH IT. Not only have they got away scott-free - none are in gaol, where they most certainly deserve to be; few if any have had any of their illegally-gained profits and so-called 'bonuses' taken away from them; none have had their aasets sequestered in an effort to recapture our lost wealth - but you my friend, the honest every taxpayers have been left to pick up the tab. And you know the worst of it - it's only going to get worse. You need to read this book because as Mitch says, either he's right or he's crazy - and if he's right you'd better be ready, for your sake and that of your loved-ones. MF comes across as being an honest, funny, spirited, principled, and extremely decent individual - and i firmly believe he has written this book for no other reason than to act as a clarion call to arms. If Mitch stood for President - or perhaps i should say PM as I'm a Brit - I would vote for him a thousand times over. How about it, Mitch? As you yourself say in your book, t's never too late to save the world?
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on 21 April 2013
Mitch has done a great of job informing his readers of the critical condition the economies of the World now find themselves in. He does come off as a pessimist although he states more than once he really isn't trying to.

The scales of the sums he discusses tend to become so vast that they almost lose all meaning but Mitch does a great job of illustrating just how much $200 Trillion dollars really is.

It's all very well writing the history of the economic collapse and the current state of play but Mitch also rounds off with a few well received tips on what happens next and how to prepare.

Because of his book I've now begun my own search for the "truth". I'm reading another economics book in direct conflict with Mitch's pro-austerity views and I guess I'll come down on one side or the other...hopefully.

Not one for the Keynesians but for anyone with even a modicum of interest in economics I would highly recommend!

Looking forward to Mitch's next instalment.
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on 19 May 2013
Mitch Feierstein has written an excellent book on Wall Street financial capital Ponzi mega fraud and catastrophic Planet Ponzi economics. The book has the right balance of technical detail and as well as being highly readable. It is witty and very entertaining and lots of clear explanations. Mitch Feierstein concludes that Ponzi economics and Ponzi banking will self-destruct as it can’t be patched up, and it shouldn’t have been attempted, as it just prolongs the agony. Mitch is a little soft on Britain (Mitch must have some close friends in Britain that he does not want to see get too upset). No need to worry about us Mitch we already know the UK economy is ‘Going South’! A truly excellent book. Bargain price.
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on 23 November 2014
Shocking inside view of the figures relating to sovereign debt which leaves you wondering where the financial `collapse' will start from. This is where banking insiders knowledge reveals the true nature of global governance and what they've done to sovereign nations with the collaboration of unscrupulous well paid agents who have no real loyalty to the public. He doesn't perhaps see a wider conspiracy of globalist elite bankers and energy monopoly tyrants remodelling the world but how it unwinds will reveal if there is one. Unfortunately. The prison planet we now live on can't be changed without major collapse but we will we get better future in the aftermath or will they use it to further centralise power and wealth to our detriment. The mainstream media is largely a gagged witness to these events when it comes to deciphering the real perpetrators of this situation. God help us.
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on 25 October 2014
Mitch contends that the Crash of 2008 is likely to happen again, that the World esp the States has too much debt. I agree with both points. He also contends that this cake has been baking since 1980 and I roughly agree with that as well. However, it is why we came to this pass and the solutions he recommends which is where I disagree.

Mitch points the finger of blame at greedy bankers; he says regulators lack resources; politicians lack honesty. These may well be valid points to a small degree but this is very much a superficial analysis and completely misses the crux of the matter. Without banging on we are in this utter mess because money is no longer backed by precious metals since it was decoupled in 1971. This has allowed politicians to fund vast sprawling Welfare States which allow them to get re-elected. In addition, we have fractional reserve banking which allows every £1 of base money to become £10 by some weird magic employed by banks. These are the real underlying issues.

For a decent analysis of these issues I recommend Peter Schiff or the latest book by James Turk.

One last thing : I found this book a tad wordy, too general and somewhat repetitive.
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on 18 August 2015
Great book, very insightful on the government and financial sector's lack of fiscal responsibility! One thing that tainted it slightly for me is that Feierstein is not well versed in politics or social theory so there are some pretty glib and annoying segues mixed in with the rest of the book along the lines of 'it's not the job or financial responsibility of the US to police the world' (paraphrased). If he seriously thinks that's what the US is doing with it's military arsenal then he should probably look at something that's not the financial sector for a least a few minutes.

Good book though and a strong addition to anyone's library when looking at where financialisation has failed!!!
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on 4 September 2014
If you didn’t understand how the whole capitalist system came close to imploding in 2008 and why we still don’t seem to have recovered properly then you need to read ‘Planet Ponzi’. The only snag is that, by the time you’ve finished, you may conclude that things will have to get a whole lot worse before they can ever get better.
This is a surprisingly easy read and humorous, despite its overlying pessimism. The concepts being set out are, however, sometimes complicated and therefore slow-going (I had to re-read bits of it to absorb what on earth Mitch Fierstein was trying to explain).
There is also a snag that the book I read was published in 2012 so the world has moved on and the statistics are out of date. This means you can complacently sit back and think he got it wrong and things didn’t work out as badly as he feared. Greece hasn’t completely collapsed, for instance, and Britain is seeing economic growth.
To think that way would be wrong, though, because as Mitch Fierstein makes clear on numerous occasions, we are still piling debt on debt as if a day of financial reckoning will never dawn. But dawn it might well do. When we least expect it and when our personal finances are completely unprepared.
Mitch Fierstein offers some sensible, and relatively simple, solutions to many of the problems he’s highlighted. For instance: jail bankers who bring their institutions to the point of collapse. It would act as the perfect deterrent and ensure most of them stick to the straight and narrow in future. But with all their money and power, there’s no chance. Meanwhile the gambles get bigger and bigger, the debts carry on growing and one day our Governments will have to stop printing money as their solution to the crisis.
I’ve read other books about the banking crisis and the recession but this seems to me to be the most clear-eyed and compelling. Read it even if it doesn’t tell you what you want to hear. Or perhaps because it doesn’t tell you what you want to hear.
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on 16 April 2013
Mitch states the case for blowing up the rails underneath this financial juggernought very well. He also , like the rest of us, cannot understand why NONE of the bankers have been jailed for the theft of billions if not trillions of £/$. You come to the conclusion that we have a definate structure to the governance of any country. Big Businesses and the banks tell the goverment what to do and how much it will cost, they in turn tell us the people what to do and how much of our money they are going to take. Jo Stiglitz as well as many other people knew that in 1998 the world banking structure was out of control and no-one was doing anything to stop it. After reading this book i now realise that there is nothing any individual can do to stop or change the impending disaster. But, like a prisoner looking at his firing squad, at least it will be nice to know their uniforms are clean and their guns well polished.
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