Essential reading for everybody
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Almost all of us are victims of the economic system. How this system functions is for most of us veiled in mystery, giving the system even more power over us. In this book Michael Rowbotham unveils these mysteries in a style which is clear, straight-talking and free of any academic jargon: in fact any concept, institution or practice which might be unknown to the non-specialist is thoughtfully explained by the author without even a hint of condescension.
This book describes the iniquity of a worldwide economic system based on the power of banks to create money by "lending" what they don't have. Both the historical roots and contemporary manifestations of this practice are explored in depth together with the multitude of ramifications. The book's range is remarkable: although much of the data is UK-centred, the author opens up a world-wide vision, from the exploitation of third world countries to the destruction of the environment to the pernicious waste of human life and energy under a system which - unveiled - amounts to institutionalised theft and debt-slavery.
Finally, the author provides suggestions as to how economic reform might be achieved, opening up vistas of millions of human lives being much more usefully and happily lived.
Read this book.
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A surprise all around
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I wasn't expecting this book to be quite so good. First of all, there have been so many written on this subject and I had NO idea who Michael Rowbotham was or is. But reading the reviews intrigued me and so I bought it with a lot of other fiction and non-fiction books. From the get-go I was drawn into the book by Rowbotham's writing ability and hard economic truths. You should be warned though, that this is a depressing book as it explains just how things work and if you're not prepared to have your eyes opened, you might be in for a shock. I can't imagine the banking world is happy about this book as it exposes the corporate greed and fraud that have been going on for years. The book also explains how we've come to think of money and gives you some real insight into how YOU are reacting to the world of money and how you use it. Couple this with his take on countries with the largest national debts and what that means and how they got there, and you have a great book that will stop you in your tracks. This should be required reading in all schools, regardless of nationality. The End.
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Engaging book but needed better data and references
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Thought provoking book for those not intimately involved in the financial and banking industries. I suspect that most people outside of these industries are unaware of the basic functioning of the money supply and money creation. Noticed a lot of generalisations that weren't correct, although the main thrust of many arguments was valid. Engaging book, but needed more factual data and references to lift it to a book with authority.
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Paradigm Shift
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This book has fundamentally affected the way I view the world, questioning why and how we work, what governments say - and then what they actually do. If you've ever thought that something wasn't quite right with the economic certainties that blare from PR ladened print and TV media then your time will be well spent reading this book. For an idea of what this book contains here's the first chapter:
http://tinyurl.com/565k8 Believe me it's powerful stuff and is relevant whatever political persuasion you belong to. The reviewer from Helsinki seems to have missed one of the chapters in the book dealing with the value of loans in an ever deflating system as this is well covered. Get this book.
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Brilliant
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This is a must-read text. Get it, buy it, read it. It will reveal the subtle workings of the money economy and the heart of true power in the modern world. The writer rips off the veil of secrecy surrounding how money circulates in the modern economy and lays bare the cold enslavement that the vast majority must face in modern economic life. If we are to provide our children a world worth living in, making real the recommendations of this book is essential. Nothing can be acheived without monetary reform. With it, everything can be. The writer does not refer to eariler works of distinguished (but fringe) Austrian economists such as James Buchanan and Prof Rothbard. These are but minor criticisms. This is not a work by a academic economist and is perhaps a better work because of this. He speaks the truth. Please read this important work.
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