Detlev S. Schlichter 
Paper Money Collapse [EPUB ebook] 
The Folly of Elastic Money

Explore the inevitable collapse of the fiat monetary system
Paper Money Collapse: The Folly of Elastic Money, Second
Edition challenges the mainstream consensus on money and
monetary policy. While it is today generally believed that the
transition from ‘hard’ and inflexible commodity money (such as a
gold standard) to entirely flexible and potentially unlimited fiat
money under national central banks allows for superior economic
stability, Paper Money Collapse shows that the opposite is
true. Systems of highly elastic and constantly expanding money are
not only unnecessary, even for growing economies, they are always
extremely destabilizing. Over time, they must lead to substantial
imbalances, including excessive levels of debt and distorted asset
prices, that will require ever faster money production to sustain.
Ultimately, however, there is no alternative to a complete
liquidation of these distortions. Based on insights of many
renowned economists and in particular of the Austrian School of
Economics, the book explains through rigorous logic and in precise
language why our system of flexible fiat money is incompatible with
a market economy and therefore unsustainable. Paper money systems
have always led to economic disintegration–without
exception–throughout history. It will not be different for
our system and we may be closer to the endgame than many think.
The updated second edition incorporates:
* A new introduction and an extended outlook section that
discusses various ‘endgames’
* Responses to criticisms, alternative views, and a critical
assessment of ‘solutions’
* Comments on recent policy trends, including attempts to exit
the ‘easy money’ policy mode
* An evaluation of new crypto-currency Bitcoin
Paper Money Collapse: The Folly of Elastic Money, Second
Edition clarifies the problem of paper money clearly and
eloquently, and proposes multiple routes to a solution.

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