Gold: The Once and Future Money (Agora Series) Hardcover – 26 Apr 2007
See all 3 formats and editions Hide other formats and editions
Note: This item is eligible for click and collect. Details
Pick up your parcel at a time and place that suits you.
- Choose from over 13,000 locations across the UK
- Prime members get unlimited deliveries at no additional cost
- Find your preferred location and add it to your address book
- Dispatch to this address when you check out
This shopping feature will continue to load items. In order to navigate out of this carousel please use your heading shortcut key to navigate to the next or previous heading.
Customers who bought this item also bought
Page 1 of 1 Start overPage 1 of 1
Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your mobile phone number.
Would you like to tell us about a lower price?
If you are a seller for this product, would you like to suggest updates through seller support?
From the Inside Flap
In the first years of this new century, the price of gold nearly tripled. Why should today′s investors take notice? Because gold is the ultimate competitor to the U.S. dollar. In this age of increasing global competition and military conflict, ignoring the gold market could be devastating for anyone seeking to build wealth over the long run. A vote for gold is a vote against the dollar, against paper money . . . and paper assets. It′s a way of saying, "Yes, we know Mr. Bernanke, Mr. Bush, and Goldman Sachs are doing a good job, but it might be a good idea to have some REAL money, just in case."
The world′s commercial centers have used one or another variant of a gold standard for most of the last three millennia. And for good reason: gold forces governments to be fiscally responsible and it provides a stable environment for rapid economic growth as well as a safe environment for individual investors to grow their own wealth.
For the last thirty–five years, the U.S. government has been able to "print" money at will. If history is any guide, this government will do as all governments have in the past: overprint, causing the currency to crash. Inevitably, they will be forced to return to the gold standard, but at great expense and with considerable suffering. Investors who are not prepared will suffer the most.
Unfortunately, asserts Nathan Lewis, both advocates and detractors of the gold standard grossly misunderstand the inner workings of this human institution. In making his case for a return to the gold standard, Lewis takes a whirlwind tour of money in all its forms, from the seventh century B.C. to the present day, explaining in straightforward layman′s terms the effects of inflation, deflation, and floating currencies along with their effect on prices, wages, taxes, and debt.
Lewis also provides an engaging history of U.S. money and offers a sobering look at recent currency crises around the world, including the Asian monetary crisis of the late 1990s and the devastating currency devaluations in Russia, China, Mexico, and Yugoslavia. And, in doing so, explains why making gold a part of your portfolio has never been more important than it is today.
The ultimate conclusion of Gold: The Once and Future Money is simple but powerful: the gold standard produced decades, even centuries, of solid money and economic abundance. If history is any guide, we can and shouldabandon this era of easy money and return to the stability of the gold standard.
From the Back Cover
Praise for GOLD
"When it comes to international monetary economics, most economists fail to connect the dots. In many cases, they fail to even see them. Gold doesn′t suffer these problems. Nathan Lewis′s book is a readable account of the present in light of the past for purposes of the future."
Steve H. Hanke, Professor of Applied Economics, The Johns Hopkins University
"Gold is the ultimate hedge against crisis and inflation. You can′t depend on paper money assets to protect you during a panic. Hard assets are the only guarantee as an insurance policy against bad times. This book gives you the historical perspective to prepare you for the unknown."
Mark Skousen, Editor, Forecasts & Strategies
"Gold: The Once and Future Money is a ′how–to′ manual for understanding the true nature of money and a guide to the action you should take to protect your wealth."
Byron W. King, Editor, Outstanding Investments
"A money payment must involve a tendering of tangible money, gold, or silver, or of a credit instrument entitling the owner to the undoubted right of its redemption, in gold or silver. As Nathan Lewis makes clear, the world, as of the year 2007, does not possess a means of payment. That humanity is unaware of the stupendously important fact that it lives in a world without money is perhaps the most singular feature of our contemporary world."
Hugo Salinas Price, President, Mexican Civic Association Pro Silver
"In this delectable tome, Nathan Lewis describes the booms, busts, the bubbles, and the crises in the economies of dozens of countries, from centuries ago to the present day. It is a romp through history, illuminating along the way money in all its formsfrom wampum and shells to silver and goldand details the catastrophic effects of inflation, deflation, floating currencies, and every kind of tax a government functionary could dream to impose on an economy. Gold highlights the folly of human beings throughout history who think ′the economy′ is but a machine to be tinkered with and fine–tuned like a Bentley, or worse, a rusty Yugo."
From the Foreword by Addison Wiggin, author, The Demise of the Dollar
Top customer reviews
There was a problem filtering reviews right now. Please try again later.
on 11 October 2007
Author Nathan Lewis drops the dismal science of economics to another level of despair by interpreting it as the "cruel science" of realpolitik. True believers in the gold standard, known as "gold bugs," believe the U.S. could face hyperinflation because it destroyed the gold standard and made every nation vulnerable to contagious inflation. As Lewis explains, ever since President Richard Nixon left the gold standard in 1971, the dollar has been backed by the U.S. government's "full faith and credit," not its gold reserves. However, he also introduces theorists who do not advocate the gold standard, since nations can realize its advantages only by pegging their currencies to short-term interest rates. As shown in this thorough, readable history, national treasuries must reassure the timid that global gold and currency markets are so huge and fast that "gold vulture" speculators cannot attack major currencies, and thus force a return to the gold standard (even though the author might wish that they could). We recommend this to gold buffs, economic historians and anyone who might enjoy the debates it could provoke.
on 28 December 2008
Format: HardcoverVerified Purchase
This publication provides an informative overview of the history of money and monetary policy through the ages. Readable and not overly academic the book can be read without any prior reading on the topic. The Author does have a definte opinion, which in any historical analysis needs to be considered. Overall though the book was relatively balanced and certainly provides food for thought, particularly in the context of 2008 and as we enter 2009.
on 26 January 2009
Firstly, if you are a beginner, like me, to the gold standard, I recommend not buying this book. I give this book four stars from an objective point of view, as my own experience with it would warrant three or maybe two stars. I give four due to the intense research put into the book and the well balanced, pragmatic arguments the author puts forward for a pegged gold standard. The book does, however, go into too much detail than is necessary. Towards the middle, the author uses every other sentence to type the value of gold vs. ABC currency at which exact date. This becomes incredibly dull. For the first few chapters, the author had me in his hands as I was engrossed by an introduction to this form of ancient money which came about through trial and error from thousands of years of human history. I was expecting more of a history on the very roots of gold as money. Instead the author goes through a detailed history of economic crises related to currencies that become too bogged down on minutia. I applaud the author for his analysis and clear cut argument, but as a beginner to the gold standard, it just wasn't suited for me. This doesn't mean, of course, that it is not a good book in an absolute sense. It is well detailed and thought provoking, and gives one a good background of knowledge to work with on this ancient form of money.
Would you like to see more reviews about this item?
Pages with related products. See and discover other items: financial cycles