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More About This Title Paper Money Collapse: The Folly of Elastic Money and the Coming Monetary Breakdown
English
DETLEV S. SCHLICHTER is a writer and Austrian school economist who has spent nearly twenty years working in international finance, including stints at Merrill Lynch, J.P. Morgan, and Western Asset Management. In his career, Schlichter has overseen billions in assets for institutional clients around the globe.
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Acknowledgments xv
Prologue: The Brave New World of Elastic Money 1
Part One: The Basics of Money 19
Chapter 1: The Fundamentals of Money and Money Demand 21
Chapter 2: The Fundamentals of Fractional-Reserve Banking 49
Part Two: The Effects of Money Injections 83
Chapter 3: Money Injections without Credit Markets 85
Chapter 4: Money Injections via Credit Markets 97
Part Three: Fallacies about the Price Level and Price Level Stabilization 125
Chapter 5: Common Misconceptions Regarding the Price Level 127
Chapter 6: The Policy of Stabilization 149
Part Four: History of Paper Money: A Legacy of Failure 161
Chapter 7: A Brief History of State Paper Money 163
Part Five: Beyond the Cycle: Paper Money Collapse 171
Chapter 8: The Benefi ciaries of the Paper Money System 173
Chapter 9: The Intellectual Superstructure of the Present System 185
Chapter 10: Beyond the Cycle: Paper Money’s Endgame 221
Epilogue: A Return to Commodity Money 241
Notes 247
About the Author 259
Index 261
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Paper Money Collapse was the 2012 getAbstract International Book Award Winner!
‘...An excellent introduction to the dangers of our current monetary system.' (therealasset.co.uk, January 2012)