The End of Alchemy: Money, Banking, and the Future of the Global Economy PDF Download
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Author: Mervyn King
Publisher: W. W. Norton & Company
ISBN: 0393247031
Category : Business & Economics
Languages : en
Pages : 214
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Book Description
“Mervyn King may well have written the most important book to come out of the financial crisis. Agree or disagree, King’s visionary ideas deserve the attention of everyone from economics students to heads of state.” —Lawrence H. Summers Something is wrong with our banking system. We all sense that, but Mervyn King knows it firsthand; his ten years at the helm of the Bank of England, including at the height of the financial crisis, revealed profound truths about the mechanisms of our capitalist society. In The End of Alchemy he offers us an essential work about the history and future of money and banking, the keys to modern finance. The Industrial Revolution built the foundation of our modern capitalist age. Yet the flowering of technological innovations during that dynamic period relied on the widespread adoption of two much older ideas: the creation of paper money and the invention of banks that issued credit. We take these systems for granted today, yet at their core both ideas were revolutionary and almost magical. Common paper became as precious as gold, and risky long-term loans were transformed into safe short-term bank deposits. As King argues, this is financial alchemy—the creation of extraordinary financial powers that defy reality and common sense. Faith in these powers has led to huge benefits; the liquidity they create has fueled economic growth for two centuries now. However, they have also produced an unending string of economic disasters, from hyperinflations to banking collapses to the recent global recession and current stagnation. How do we reconcile the potent strengths of these ideas with their inherent weaknesses? King draws on his unique experience to present fresh interpretations of these economic forces and to point the way forward for the global economy. His bold solutions cut through current overstuffed and needlessly complex legislation to provide a clear path to durable prosperity and the end of overreliance on the alchemy of our financial ancestors.
Author: Anastasia Nesvetailova
Publisher: Pluto Press
ISBN: 9780745328775
Category : Business & Economics
Languages : en
Pages : 144
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Book Description
In July 2007, the combination of a seemingly unstoppable rise in house prices and bullish banks swimming in liquidity meant that almost anyone could get a mortgage in the UK or US. Little more than a month later the supply of credit dried up practically overnight, leaving the world wondering how bank liquidity could suddenly vanish. In Financial Alchemy in Crisis, Anastasia Nesvetailova shows that this liquidity never actually existed. The rise of sophisticated financial instruments created what appeared to be an abundance of liquid funds but was in fact a credit pyramid. As soon as house prices stopped rising the reality was exposed. Nesvetailova's bold and radical analysis explains why the credit crisis was an inevitable consequence of entrusting the world economy to financiers who believe that they can 'create' money and wealth.
Author: Mervyn King
Publisher:
ISBN: 9781408706114
Category :
Languages : en
Pages : 304
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Book Description
Author: Kevin Dowd
Publisher: John Wiley & Sons
ISBN: 047068996X
Category : Business & Economics
Languages : en
Pages : 433
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Book Description
An engaging look at how modern finance almost destroyed our global economy Over the last thirty years, capital markets have been restructured through the tenets of modern finance. This has been enormously profitable for the financial services sector. However, these innovations, coupled with unsound risk and regulatory practices have proved disastrous for the global economy. In a clear and accessible style, ex-investment banker and financial journalist Martin Hutchinson, and highly respected academic, Kevin Dowd show how modern finance combined with easy money threatened to bring down the world financial system. At the heart of the book is modern finance as a U.S. invention, the theories and practices associated with them, and the changes they made in business models and risk management on Wall Street and other major financial centers. Breaks down the events involved in the 2007-08 financial collapse Reveals how botched policy response made a bad situation worse Focuses on lessons that the practice of finance must learn from recent events The Alchemists of Loss will help you to understand how our financial system crashed and show you what it will take to make sure this won't happen again as we move forward.
Author: Morgana Rae
Publisher:
ISBN: 9780988259409
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
Ancient wisdom and modern technologies bridge the gap between material and spiritual prosperity. Rae's workbook helps readers create a new, loving relationship with money that supports their enrichment and transforms their lives.
Author: Anastasia Nesvetailova
Publisher: Pluto Press
ISBN: 9780745328782
Category : Business & Economics
Languages : en
Pages : 144
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Book Description
In July 2007, the combination of a seemingly unstoppable rise in house prices and bullish banks swimming in liquidity meant that almost anyone could get a mortgage in the UK or US. Little more than a month later the supply of credit dried up practically overnight, leaving the world wondering how bank liquidity could suddenly vanish. In Financial Alchemy in Crisis, Anastasia Nesvetailova shows that this liquidity never actually existed. The rise of sophisticated financial instruments created what appeared to be an abundance of liquid funds but was in fact a credit pyramid. As soon as house prices stopped rising the reality was exposed. Nesvetailova's bold and radical analysis explains why the credit crisis was an inevitable consequence of entrusting the world economy to financiers who believe that they can 'create' money and wealth.
Author: Morgana Rae
Publisher:
ISBN: 9780988259423
Category :
Languages : en
Pages : 0
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Book Description
Ancient wisdom and modern technologies bridge the gap between material and spiritual prosperity... This updated and enhanced 10 Year Anniversary Special Edition of Morgana Rae's international best selling book "Financial Alchemy: Twelve Months of Magic and Manifestation" transforms your relationship with money from a monster of scarcity into a "honey" who loves you and wants to stay with you! Then this book takes you one step further: This is a TOTAL life transformation process. Inside you will find => Jealously guarded secrets to enhance and accelerate your ability to attract ONLY what you want into your life, => Magical Money Exercises to expand your container for abundance and rewire you for prosperity, no matter what financial situation you're in right now, => A Manifestation System that's irresistible to success. No more chasing after your goals! Attract them easily. => A Success Journal that blends brain science and strategic planning with a dash of magic, so you can actually see where practical, real-world results show up with ease, flow, and synchronicity.
Author: George Soros
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 388
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Book Description
Critical Praise . . . "The Alchemy joins Reminiscences of a Stock Operator as a timeless instructional guide of the marketplace." - Paul Tudor Jones from the Foreword "An extraordinary . . . inside look into the decision-making process of the most successful money manager of our time. Fantastic."- The Wall Street Journal "A breathtakingly brilliant book. Soros is one of the core of masters . . . who can actually begin to digest the astonishing complexity . . . of the game of finance in recent years."- Esquire "A seminal investment book . . . it should be read, underlined, and thought about page-by-page, concept-by-idea. . . . He's the best pure investor ever . . . probably the finest analyst of the world in our time." - Barton M. Biggs, Morgan Stanley George Soros is unquestionably the most powerful and profitable investor in the world today. Dubbed by BusinessWeek as "The Man Who Moves Markets," Soros has made a billion dollars going up against the British pound. Soros is not merely a man of finance, but a thinker to reckon with as well. Now, in The Alchemy of Finance, this extraordinary man reveals the investment strategies that have made him "a superstar among money managers" (The New York Times).
Author: Morgana Rae
Publisher:
ISBN: 9781475235982
Category :
Languages : en
Pages : 200
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Book Description
A workbook to help you create a new relationship with money!Your current financial situation is a direct reflection of your inner relationship with money. If you don't like your finances, something needs to change in your relationship. This is where Alchemy comes in.
Author: John MacGregor
Publisher: Eleuthera Press
ISBN: 9781937832940
Category :
Languages : en
Pages : 240
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Book Description
THRIVE breaks the paradigm of all previous personal financial books. This book identifies not only why most of us have a stressful relationship with money, it also lays out the revolutionary seven-step process that will completely transform your relationship with money. After more than 25 years of research while guiding thousands of individuals, MacGregor unleashes a ground-breaking and highly disruptive solution to long-lasting financial peace of mind for anyone who stressed around money - rich and poor, man and woman, young and old. This book transcends all demographics and tackles America's financial crisis head on, using the latest in genetic and scientific research to reveal a seven-step path presented in easy-to-understand language so you can win the financial battle once and for all. Thrive answers the question and provides solutions for.... * Why 78% of U.S. households are living paycheck to paycheck * Why 65% of Americans could not come up with $400 for an emergency expense * Why money is the #1 cause of stress and anxiety today Thrive, packed with surprising insight into the reasons people struggle financially with a proven solution to end their suffering once and for all. THRIVE is John MacGregor at his best. Certified Financial Planner and renowned public speaker, John weaves psychological, neurological, and practical guidance with his candid personal experiences and provides the step-by-step solution to this epidemic that is crushing a majority of households in the United States and abroad.
Author: Timothy F. Geithner
Publisher: Crown
ISBN: 0804138613
Category : Biography & Autobiography
Languages : en
Pages : 610
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Book Description
New York Times Bestseller Washington Post Bestseller Los Angeles Times Bestseller Stress Test is the story of Tim Geithner’s education in financial crises. As president of the Federal Reserve Bank of New York and then as President Barack Obama’s secretary of the Treasury, Timothy F. Geithner helped the United States navigate the worst financial crisis since the Great Depression, from boom to bust to rescue to recovery. In a candid, riveting, and historically illuminating memoir, he takes readers behind the scenes of the crisis, explaining the hard choices and politically unpalatable decisions he made to repair a broken financial system and prevent the collapse of the Main Street economy. This is the inside story of how a small group of policy makers—in a thick fog of uncertainty, with unimaginably high stakes—helped avoid a second depression but lost the American people doing it. Stress Test is also a valuable guide to how governments can better manage financial crises, because this one won’t be the last. Stress Test reveals a side of Secretary Geithner the public has never seen, starting with his childhood as an American abroad. He recounts his early days as a young Treasury official helping to fight the international financial crises of the 1990s, then describes what he saw, what he did, and what he missed at the New York Fed before the Wall Street boom went bust. He takes readers inside the room as the crisis began, intensified, and burned out of control, discussing the most controversial episodes of his tenures at the New York Fed and the Treasury, including the rescue of Bear Stearns; the harrowing weekend when Lehman Brothers failed; the searing crucible of the AIG rescue as well as the furor over the firm’s lavish bonuses; the battles inside the Obama administration over his widely criticized but ultimately successful plan to end the crisis; and the bracing fight for the most sweeping financial reforms in more than seventy years. Secretary Geithner also describes the aftershocks of the crisis, including the administration’s efforts to address high unemployment, a series of brutal political battles over deficits and debt, and the drama over Europe’s repeated flirtations with the economic abyss. Secretary Geithner is not a politician, but he has things to say about politics—the silliness, the nastiness, the toll it took on his family. But in the end, Stress Test is a hopeful story about public service. In this revealing memoir, Tim Geithner explains how America withstood the ultimate stress test of its political and financial systems.
