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Paper Money Collapse

Paper Money Collapse: Detlev S. Schlichter

The Folly of Elastic Money and the Coming Monetary Breakdown

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Zustand Neu
Autor(en) Detlev S. Schlichter Verlag John Wiley & Sons Inc.
Sachgebiet(e) Vermögen und Geldanlage, Österreichische Schule, English Books ISBN 978-1-118-09575-1
2011, 240 Seiten, Festeinband/Hardcover

2nd edition available here


The case for the inevitable failure of a paper money economy and what that means for the future

All paper money systems in history have ended in failure. Either they collapsed in chaos, or society returned to commodity money before that could happen. Drawing upon novel new research, Paper Money Collapse conclusively illustrates why paper money systems - those based on an elastic and constantly expanding supply of money as opposed to a system of commodity money of essentially fixed supply - are inherently unstable and why they must lead to economic disintegration.

These highly controversial conclusions clash with the present consensus, which holds that elastic state money is superior to inflexible commodity money (such as a gold standard), and that expanding money is harmless or even beneficial for as long as inflation stays low. Contradicting this, Paper Money Collapse shows that:
* The present crisis is the unavoidable result of continuously expanding fiat money
* The current policy of accelerated money production to "stimulate" the economy is counterproductive and could lead to a complete collapse of the monetary system
* Why many in financial markets, in media, and in the policy establishment are unable (and often unwilling) to fully appreciate the underlying problems with elastic money

This compelling new book looks at the breakdown of modern economic theory and the fallacy of mathematical models. It is an analysis of the current financial crisis and shows in very stark terms that the solutions presented by paper money-enthusiasts around the world are misguided and inherently flawed.


Prologue: The Brave New World of Elastic Money.
Part One: The Basics of Money.
Chapter 1: The Fundamentals of Money and Money Demand.
Chapter 2: The Fundamentals of Fractional-Reserve Banking.

Part Two: The Effects of Money Injections.
Chapter 3: Money Injections Without Credit Markets.
Chapter 4: Money Injections via Credit Markets.

Part Three: Fallacies about the Price Level and Price Level Stabilisation.
Chapter 5: Common Misconceptions Regarding the Price Level.
Chapter 6: The Policy of Stabilisation.

Part Four: History of Paper Money: A Legacy of Failure.
Chapter 7: A Brief History of Paper Money.

Part Five: Beyond The Cycle: Paper Money Collapse.
Chapter 8: The Beneficiaries of the Paper Money System.
Chapter 9: The Intellectual Superstructure of the Present System.
Chapter 10: Beyond the Cycle: Paper Money's Endgame.

Epilogue: A Return to Commodity Money.

About the Author.

Source: Wiley VCH

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