Thursday, June 2, 2011

When Money Dies

Title: When Money Dies
Author: Adam Fergusson

When Money Dies is a book published in 1975, over the background of USA being in a period of hyperinflation.

The book details about the sequence of events in Germany after World War I, but before World War II.  How the German mark had managed to devalue itself to totally unbelievable levels.  It is a very dry history text book, but then it serves some purpose.  It reminds us paper money is nothing but just a medium of exchange.  It has no intrinsic value itself.  Its value will only be realized when you use it to buy tangible goods and services.

The scenario described in the book has alarming similarities with the current situation in USA.  The Federal Reserve has no hesitation in printing more paper money to inflate the American economy, at the expenses of savers and tax payers.

You can find a free PDF version of the book here.  It is worth your time reading this book.  It tells you how the world will look like if Federal Reserve continues its printing binge.

Happy reading!

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