Funny Money

by Paul T. Hellyer

Book Overview

Great Read. This description may be from another edition of this product.

• Format: Hardcover
• ISBN: 0969439423
• ISBN13: 9780969439424
• Release Date: January 1994
• Publisher: Chimo Media
• Weight: 1.10 lbs.

Customer Reviews

Not so Funny Devils in the Banking & Financial Systems

At the time of writing this it has been over 6 months since the British banks have been given a lifeline of billions of Pounds to help support their unwarranted survival. In the meantime small businesses have still been waiting to get business loans, and jobs have been lost in the real economy - Why? The banks have been lending money overseas at higher interest rates, and have already been returning to the life of bonuses. This is the nature of the beast that books such as "Funny Money" have been describing: A corrupt, heartless money supply system supported by governments and their economic advisors, and motivated by unscrupulous money lords whom I will call plutocrats. I would give the book 6 stars if I could because the book's text is written for ordinary folk (most of us) with common sense (hopefully enough of us !). The Canadian author, Paul Hellyer, describes viable systems that can bridge the divide between economics on paper and economics in the real world, showing that current worldwide monetary policies have been playing central and divisive rôles in maintaining that divide. The book's publication date (1994) belies its current relevance, as is evidenced by another world financial crisis that followed in 2008. Paul Hellyer explains how private bankers have been creating, in their worldwide, unbridled avarice over the centuries, legally fraudulent money to lay claim to wealth created by others. He describes what he calls neoclassical economic policies (Now apparently known as neoliberalism as documented in "A Brief History of Neoliberalism - ISBN: 0199283273). The core malignancy to the economies of all nations with such policies is the world's private banking and financial systems, for they have given us 45 recessions and depressions in 200 years (with more to come). In the "bad times" it is the "good times" for banks to take possession of the collateral of defaulting debtors who are unable to repay loans having usurious compound interest rates. Big businesses also buy up the assets of smaller businesses that are unable to survive the downturn. It happens every time in cycles. And thanks every time to the deluded politicians believing their jobs will be lost if banks go bankrupt, they glibly hand over taxpayers' money to bail out the banks again. Then we go back to start again from what my first paragraph says, ad infinitum and ad nauseam. The author tells it like it is, and should you read it, you might realise that it is an ideal book for prescribed reading at schools and colleges. A nation of citizens brought up on such knowledge would make truly educated choices in selecting their nation's leaders. However, such a prescription would doubtlessly not be allowed by governments, because a morally educated populace would undermine the greed of those bent on stealing the wealth created laboriously by others. Paul Hellyer has been one of the world's most economically enlightened and prescient politicians, as he has even understood how