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Why Gold Matters Author: Peter J. August

ISBN: 9780994310941 Format: Paperback Number Of Pages: 186 Published: 20 June 2016 Country of Publication: AU Description:

The global monetary system is a beast born of human ingenuity and of many crises, economic depressions, political failures and wars. In modern times, each crisis has advanced a set of solutions that in essence create money in excess of capital. Such solutions are based on the idea that if economic growth is languishing, putting more banknotes into circulation is the answer. The  nancial crisis in 2008 shattered the complacency of the world's advanced economies. Seven years on, the desperate days of banks stopping lending to one another are but a memory. Credit  ows again, thanks to massive infusions of taxpayers' money. However, the memory remains fresh. The world continues exposing itself to the carcinogen of credit and the toxin that caused the illness in the  rst place. Investors and policy makers are plagued by doubt. Could the symptoms return? The controversial treatment regime - administering more of what ails you - has the approval of the most powerful. Do world leaders truly know what consequences will ensue from their intervention? Will printing money prevent a relapse? Stimulus hardly constitutes vaccination. Might not the patient become addicted to the medicine? ...

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