In this report, I cover the early market action from London on Wednesday, January 9th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market, and the oil price.
Today I look at a couple of books that, in my opinion, are essential reading material for those who want to understand money and our current monetary system and see where we are headed.
The first book is The Triumph of Gold by Dr. Franz Pick. Even though this book was written in 1986 and one might think Dr. Pick has been wrong I would actually say that he has been right and that gold has been and will continue to triumph.
The second book, Fiat Money Inflation in France by Andrew D. White looks at the experiment of paper money or the Assignats conducted by the French in the first half of the 1790s and how it led to the utter repudiation of fiat money.
My conclusion is that what happened in France in the 1790s will happen to the whole world and the reason that unlike the Assignats the paper or fiat dollar has lasted longer only because the U.S. has been able to envelop the whole world's monetary system into fiat money system.
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"Fiat Money Inflation in France" by A.D. White: http://www.libertarianpress.com/fiatmoneyinflation/Fiat%20Money%20Inflation%20in%20France%20by%20Andrew%20Dickson%20White.pdf