How the Destruction of the Dollar Threatens the Global Economy -- And What We Can Do about It
McGraw-Hill, Hardcover, 9780071823708, 249pp.
Publication Date: June 3, 2014
Few topics are as misunderstood today as the subject of money. Since the U.S. abandoned a gold-linked dollar more than four decades ago, the world's governments have slid into a dangerous ignorance of the fundamental monetary principles that guided the world's most successful economies for centuries. Today's wrong-headed monetary policies are now setting the stage for a new global economic and social catastrophe that could rival the recent financial crisis and even the horrors of the 1930s. Coauthored by Steve Forbes, one of the world's leading experts on finance, "Money" shows you why that doesn t need to happen--and how to prevent it.
After reading this entertaining and hugely well-informed book, you will know more about money than most people in the highest government positions today. "Money" explains why a return to sound money is absolutely essential if the U.S. and other nations are ever to overcome today's problems. Stable money, Steve Forbes and Elizabeth Ames argue, is the only way to a true recovery and a stable and prosperous economy.
Today's system of fluctuating "fiat" money, in which governments manipulate the value of the dollar and other currencies, has been responsible for the biggest economic failures of recent decades, including the 2008 financial crisis, from whose effects we continue to suffer. The Obama/Bernanke/Yellen Federal Reserve and its unstable dollar policies are accelerating our course toward disaster, the authors show, in numerous convincing examples. In "Money," Forbes and Ames answer these crucial questions:
"What is the difference between money and value? What is real wealth?
How does sound money contribute to a well-functioning society?
How have our money policy errors led to the current problems in global financial markets?
What can we do now to reestablish the strength of the dollar and other currencies?"
The authors argue that the most effective way to return to a sound money policy and a healthy economy is to put the dollar back on a gold standard, and they outline the several different forms a gold standard could take. They also share invaluable suggestions for how to preserve our wealth and where to invest our money.
"Money" is essential reading for anyone interested in this crucially important subject.
The company encompasses ForbesLife, Forbes Europe, Forbes Asia and Forbes licensee editions published in over 37 countries. The company also publishes a number of investment newsletters.
Forbes.com reaches nearly 70 million users each month.
The company s flagship publication, Forbes, is the nation s leading business magazine, with a circulation of more than 900,000.
A widely respected economic prognosticator, Mr. Forbes is the only writer to have won the highly prestigious Crystal Owl Award four times. The prize was formerly given by U.S. Steel Corporation to the financial journalist whose economic forecasts for the coming year proved most accurate.
In both 1996 and 2000, Mr. Forbes campaigned vigorously for the Republican nomination for the presidency. Key to his platform were a flat tax, medical savings accounts, a new Social Security system for working Americans, parental choice of schools for their children, term limits and a strong national defense. Mr. Forbes continues to energetically promote this agenda.
Mr. Forbes book, Money: How the Destruction of the Dollar Threatens the Global Economy and What We Can Do About It, co-authored by Elizabeth Ames (McGraw-Hill Professional), was published in June 2014 and received the coveted Leonard E. Read Book Award.
His other books include Freedom Manifesto: Why Free Markets are Moral and Big Government Isn t, co-authored by Elizabeth Ames (Crown Business, August 2012); How Capitalism Will Save Us: Why Free People and Free Markets Are the Best Answer in Today s Economy, co-authored by Elizabeth Ames (Crown Business, November 2009); and Power Ambition Glory: The Stunning Parallels between Great Leaders of the Ancient World and Today and the Lessons You Can Learn, co-authored by John Prevas (Crown Business, June 2009). He also wrote: Flat Tax Revolution: Using a Postcard to Abolish the IRS (Regnery, 2005); and A New Birth of Freedom (Regnery, 1999), a book of bold ideas for the new millennium.
In 1985, President Reagan names Mr. Forbes Chairman of the bi-partisan Board for International Broadcasting (BIB). In this position, he oversaw the operations of Radio Free Europe and Radio Liberty. Broadcasting behind the Iron Curtain, Radio Free Europe and Radio Liberty were praised by Poland s Lech Walesa as being critical to the struggle against communism. Mr. Forbes was reappointed to his post by President George H. W. Bush and served until 1993.
Steve Forbes was born on July 18, 1947, in Morristown, New Jersey. He received a B.A. in history from Princeton in 1970.
Elizabeth Ameshas co-authored three previous books with Steve Forbes: Money: How The Destruction of the Dollar Threatens The Global Economy And What We Can Do About It; Freedom Manifesto: Why Free Markets Are Moral and Big Government Isn t; andthe Wall Street Journal bestseller, How Capitalism Will Save Us: Why Free People and Free Markets Are The Best Answer In Today s Economy.
Steve Forbes is coauthor of the "New York Times" bestseller "Power Ambition Glory" and the "Wall Street Journal" bestseller "How Capitalism Will Save Us". Forbes is Chairman and Editor-in-Chief of Forbes Media, which publishes "Forbes" magazine, with a circulation of nearly one million readers. Combined with "Forbes Asia", "Forbes Europe", and the company's licensee editions, the magazine reaches close to 6 million global readers. Forbes.com reaches 65 million unique monthly visitors; Forbes websites include Forbes.com, RealClearPolitics.com, RealClearMarkets.com, RealClearSports.com, and RealClearWorld.com.
Elizabeth Ames is a communications executive, speaker and author. She has written two previous books with Steve Forbes, "How Capitalism Will Save Us" and "Freedom Manifesto".