Sunday, April 08, 2012

Paper Promises

BTW haven’t read it yet as just ordered it after I saw the author of this book being interviewed on Fareed Zakaria this morning on CNN.

Paper Promises: Debt, Money, and the New World Order by Philip Coggan

Incredibly interesting about how the UK ruled the world under the gold standard for 40 years, the USA ruled the world for 40 years after the removal of the gold standard and were able to print money for loans written on their own currency and how with the next evolution where the power is shifting to china over the next 5-10 years that fixed currencies and managed markets will be the next evolution over the coming 40 years.

I also didn’t know that the term “Jubilee” wasn’t British (eg the monarchy queens jubilee) but a Hebrew word for the term of forgiving all debts every 50 years after a bubble.

Cant wait to read this lol if you watch the interview the comments about “sovereign debt and the king changing the law and throwing you in jail when he owes you money” made me think of vc’s immediately managing the power shifts.

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