Private Money
Kevin Dowd
Broschiertes Buch

Private Money

Path to Monetary Stability

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Kevin Dowd explains how central banking and the monopoly issue of currency by government have politicised and greatly destabilised the banking system. The change from money backed by a commodity standard to fiat money has destroyed the mechanism by which price stability was earlier secured, and opened the way for an historically unprecedented inflation. The Bank of England and other central banks have a record of losses which is comparable to those of the worst managed nationalised trading companies. In contrast, the private issue of currency disciplines banks through competitive pressures, an...