Michael Reiss has given us a fantastic short primer that makes sense of the economic disaster that has descended upon the world economy in the last few years. The simplicity with which he presents what appears to be a highly complex system of money is astounding. Every person who considers buying a stock, applying for a mortgage, or saving for retirement should read this book. Will it change your world? Perhaps!
But understanding how money is created and destroyed by banks, fractional reserve banking, and productive and non-productive loans. We can learn to manage our own futures in a very troublesome economy. Reiss introduces us to "Pseudo-investing" explains the pitfalls of this disastrous practice.
Finally he wraps up with a plan that seems so simple, but is unlikely to be implemented because of one factor he ignores - greed! I am hopeful that Reiss will rise as an honest truth-sayer in our economic maelstrom. Perhaps the highly paid economists at the Federal Reserve and our Secretary of Treasury should be given a gratis copy.
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