The Little Money Book

Business & Finance, Finance & Investing, Finance
Cover of the book The Little Money Book by Boyle, David, Red Wheel Weiser
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Author: Boyle, David ISBN: 9781934708248
Publisher: Red Wheel Weiser Publication: April 1, 2006
Imprint: Disinformation Books Language: English
Author: Boyle, David
ISBN: 9781934708248
Publisher: Red Wheel Weiser
Publication: April 1, 2006
Imprint: Disinformation Books
Language: English

They say money is the root of all evil. Thats debatable, but one thing thats not is that money and its attendant enterprisesbuying, selling, lending, borrowing, credit cards, the stock market and bankingis an inescapable component of the fabric of modern life. How did this come to be? Money and the complex system that makes it work is a man-made product that we invented and yet, like Frankenstein, it has us all in its grip. From the poorest to the wealthiest, we worry about money.

This highly accessible and easy-to-read synthesis of complex subjects asks some of the obvious questions about money and finance that few of us stop to think about.

For instance, what is the real value of money? Well, astonishingly, nobody agrees. But most people seem to accept that it is lent into existence by the commercial banks. When you stash money in the bank, they must keep around 8 percent of that loan on depositin case there's a run on the bankbut all the rest is lent out again many times over. In other words, most of our mortgages and bank loans are created as if by magic by a stroke of the pen.

That's the strange truth behind modern money. We don't mine it, we don't find it on a beach, it bears no relation to anything real, but still some people have vast amounts of it and some people have none at all. And we hardly ever talk about it.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

They say money is the root of all evil. Thats debatable, but one thing thats not is that money and its attendant enterprisesbuying, selling, lending, borrowing, credit cards, the stock market and bankingis an inescapable component of the fabric of modern life. How did this come to be? Money and the complex system that makes it work is a man-made product that we invented and yet, like Frankenstein, it has us all in its grip. From the poorest to the wealthiest, we worry about money.

This highly accessible and easy-to-read synthesis of complex subjects asks some of the obvious questions about money and finance that few of us stop to think about.

For instance, what is the real value of money? Well, astonishingly, nobody agrees. But most people seem to accept that it is lent into existence by the commercial banks. When you stash money in the bank, they must keep around 8 percent of that loan on depositin case there's a run on the bankbut all the rest is lent out again many times over. In other words, most of our mortgages and bank loans are created as if by magic by a stroke of the pen.

That's the strange truth behind modern money. We don't mine it, we don't find it on a beach, it bears no relation to anything real, but still some people have vast amounts of it and some people have none at all. And we hardly ever talk about it.

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