Customer Reviews:
Showing reviews 16-20 of 29
 Interesting viewpoint, worth the read June 17, 2009
Kristine Hale (Utah)
0 out of 2 found this review helpful
I, like many Americans, have recently become deeply concerned about our system of money, banking and control in America. This was the first book that I picked up to learn more on the topic. I haven't ready any of the authors other books, nor have I read any other books on the subject.
With that said, this book is well thought-out, researched and articulated. Even with very little understanding about economics, I found myself very comfortable with the information and I feel much more informed having read it.
However, this book has a clear political slant (libertarian) and, as such, I would not recommend it to the average reader. If you are looking for an opinion that is not spoken of in the popular media or looking for one person's well-reasoned thoughts on the subject, this is your book. If not, it probably won't change your current opinion, but it might teach you something you didn't already know.
The End of Money and the Future of Civilization June 16, 2009
Penetralia
0 out of 1 found this review helpful
The End of Money and the Future of Civilization attempts to rationalize the force majeure of US economics by introducing innovative methods of transformation. Dozens of tables and illustrations, coupled by twenty well-assembled chapters provide a comprehensive study of money and its potential future. Other sprinkled topics expose Credit, Central Banks, Foreign Currency, Wars, Historical significances, Church and State, plus much more.
This text is highly recommended for students in the field of finance (e.g. accounting) or business, and other professionals alike.
 A truly enlightening view of how money really works June 12, 2009
James Beswick (Los Angeles, CA)
2 out of 2 found this review helpful
First, let me say that this isn't an easy book to read, both from the information-load point of view and the fact that it changes your perspective of money. One chapter per day is probably the best approach if you want to absorb as much as possible, since rarely have I read a book where almost every page contains something significant.
That being said, Greco's work is an economic tour de force, leaving no stone unturned in explaining the history, present and future of money and the financial system. I found myself stopping every few pages and wanting to call my friends to update them on some new profound fact of which I previously unaware, most of which paint a fairly depressing picture of how the average person is being taken advantage of. It's spelled out very clearly how there is a conspiracy between governments, bankers and "the rich" to tax us indirectly through inflation and make us pedal ever-faster to promote an artificial debt bubble and promote an unseen agenda. This was predicted and forewarned by the creators of the Constitution, and the pattern is repeated around the world in almost every country.
Depressing as this may seem, Greco also shows potential alternative systems and how things must evolve if we're to avoid the sort of crisis we've seen in the last couple of years. Fortunately, networks and information systems make his proposals almost inevitable, but there's a desperate need to educate the public so everyone starts to understand the difference between money, credit and wealth, and how the government injects itself to tax us and spend our assets frivolously. He discusses barter and credit exchange systems at length, and proposes viable (and actually quite simple) ways in which these could work and eliminate the twin perils of inflation and debt-bubbles that have been rampant in modern era.
Basically, I would recommend Greco's work to everyone I know. There's an urgent need in the restructuring of our economy (which, by the way, will be very different in the recovery than before the collapse) to understand the politics and mechanisms that caused our current situation. Although this is by no means 'an easy read', I consider it an essential one.
 Interesting policy analysis but with a very strong political bent June 11, 2009
M. McDonald (Chicago, IL United States)
3 out of 6 found this review helpful
The end of money and the future of civilization is a policy book in the sense that it is intended to present a point of view and make an argument to change the status quo -- in this case the use of money and the financial system as a means of economic, social and political control. I have not read Greco's other works but they seem to concentrate on policy as well.
Greco makes a very important point early on in the book when he observes that money is no longer really a means of exchange, but rather an information system. WIth that view, Greco then concentrates on explaining the development of various institutions associated with money, credit, finance etc. That analysis, while compelling and complete, is taken from a particular point of view -- namely that money is a mechanism for controlling the population, maintaining and sustaining elites and creating an unequal distribution of wealth in the economy.
The reader clearly needs to understand the author's point of view, intent, and focus to get the most out of this book. The fact that the author has a strong point of view, policy direction etc are strengths of this book. You know where he stands. You may not agree with him and in some cases view the analysis as limited or a little too black and white (the notion of the founding fathers goals as one example) but this book does a good job of exposing you to a point of view and argument that is not part of the popular media.
Its a three star book to alert people of its policy focus. This is not a business book, or a historical account. It is a well argued view on the relationship and role of money and finance in our society.
Thinking Outside the Money "Box" June 10, 2009
Patrick M. Hussey (Baltimore, MD, United States)
5 out of 6 found this review helpful
This book arrives at precisely the proper time in monetary history, with the United States destroying not only its own currency but the world's reserve currency which underlies all modern economies and banking systems. Liberty Dollar, an alternative currency based upon silver in the Northeastern United States, has just had all of its principals arrested. This follows a raid and seizure that occurred in November 2007. The Fed and the Treasury are determined to use their monetary monopoly to preserve the profitability of seniorage until the final collapse, forcing all savers to eat the inflation they created to pay for fantasies they could not afford otherwise. The Chinese are laughing at our Treasury Secretary when he says the dollar is "safe," while the leadership of China drop their dollar holdings like a bad habit to obtain tangible commodities. Other major trading partners are following suit.
Hence, The End of Money and the Future of Civilization. While the title is unimaginative and the cover bland, the content was thought-provoking and original. Greco appropriately recognizes the present monetary disorder, and aims to correct it by demonstrating the potential democratization of the monetary system by using credit clearing systems at local levels.
The first seventy-five pages are spent discussing the nefarious ways of Central Banks, going all the way back to the Bank of England and up to the present-day Fed. He briefly touches on the New World Order, and the deflation and inflation that are caused by the power of Central Banks to move markets and remake the world in their distorted image, as Money-God gone mad. Many readers with a more conspiratorial orientation will be familiar with these ideas; for others, they may be new. But the introduction is nonetheless necessary to set the stage for the meat of Greco's argument.
In Chapter eight, Greco calls for the separation of money and state. This is brilliant in theory. A revolutionary thought for most, but because paper money systems are so abused by the Money Powers That Be with an artificial monopoly on issuance, the costs of allowing this monopoly are not worth the purported benefits. It is evident that the author has thought deeply about the various alternative monetary regimes that might be possible, but they all strike me as deeply flawed. For example, are bad debts transmitted throughout the currency system? Since one of the chief virtues of banks is information (interest rates, credit scores, risk level, etc) how does society compensate for the lack of this information? Would credit clearing associations be capable of fulfilling this role? If the printing press is decentralized (commendable in principle) how do we prevent abuses? The author does not spend enough time dealing with these issues in my view. It's easy to say, "look for the warning signs - currency is losing value," but this is too late for those who hold notes in the devalued currency as savings. Who protects them? We cannot count on corrupt Western governments nor the banks, so how would this work?
Another issue that would come to the fore is that of redeemability. Greco is no goldbug, but does recognize that there must be some sort of tether on page 207. He also recognizes the shortcomings in chapter nine - a monetary tether like gold can lead to extreme concentrations of economic power, and can artificially constrain growth to the rate of the mined gold supply. This issue needs more clarity, in my view, and I would argue that it's easier to entrap individuals in a web of debt through fiat money than a gold or silver standard.
The author should have dedicated more thought and emphasis to the role of savings and investment. As a student of the Austrian school, this is paramount. The limits on the type of credit allowed would honor savings and investment fairly, rather than introducing fraudulent fiat cash into the system, but I do think most individuals or even corporate boards or governments would have trouble making the distinction between the two - this is an advanced topic. Most people are used to thinking of money as a universal standard of account, not the different forms it takes unless they are an economist or perhaps an institutional investor. Hence the practicality of metal monetary standards - it democratizes but also simplifies money itself.
In sum, this book is a terrific effort to deal with some very difficult and complex issues. I would welcome a second edition, which could perhaps clarify the author's positions on several points.
Showing reviews 16-20 of 29
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