Paper Money Collapse
The Folly of Elastic Money and the Coming Monetary Breakdown
Detlev S Schlichter with James J Puplava
All paper money systems in history have ended in failure. Either they collapsed in chaos, or society returned to commodity money before that could happen. Drawing upon novel new research, Paper Money Collapse conclusively illustrates why paper money systems—those based on an elastic and constantly expanding supply of money as opposed to a system of commodity money of essentially fixed supply—are inherently unstable and why they must lead to economic disintegration.
These highly controversial conclusions clash with the present consensus, which holds that elastic state money is superior to inflexible commodity money (such as a gold standard), and that expanding money is harmless or even beneficial for as long as inflation stays low. Contradicting this, Paper Money Collapse shows that:
The present crisis is the unavoidable result of continuously expanding fiat money
The current policy of accelerated money production to “stimulate” the economy is counterproductive and could lead to a complete collapse of the monetary system
Why many in financial markets, in media, and in the policy establishment are unable (and often unwilling) to fully appreciate the underlying problems with elastic money