PDF Ebook , by Thomas Herold
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, by Thomas Herold
PDF Ebook , by Thomas Herold
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Product details
File Size: 2442 KB
Print Length: 276 pages
Publication Date: April 15, 2018
Sold by: Amazon Digital Services LLC
Language: English
ASIN: B07CGCTDYC
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Amazon Best Sellers Rank:
#54,117 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
Before I bought and read
In this book, The Money Deception, the author, Mr. Thomas Herold, raises the red flag ; He is alarmed by what is going on in our financial system which he thinks is on the verge of collapsing. Although the focus is mostly on the US the repercussions are worldwide; after all, the USA is now the dominant economic force affecting the entire world .The author is perhaps justified in declaring this warning, The financial meltdown of 2008 is still fresh in our minds, and to the author it was only the tip of the iceberg. But what other indicators are there to justify his fears? The US huge debt is a major worry especially when we discover that the Government pays in excess of $400 billion in interest on the debt - every year !! It is clear that the Government cannot go on paying such astounding amounts indefinitely. In the wake of the 2008 crisis, to save itself from bankruptcy, the US paid leading banks in excess of $16 trillion - the biggest bailout ever! This itself had a huge impact on the overall debt burden.This author (who has written ten books on finance) believes there is something desperately wrong with the current financial system. Inequality, for instance, is now greater than ever before; 82% of the wealth generated last year went to the richest 1% of the global population !! One percent of the population now controls 50% of all wealth. To add insult to injury, 23% of people over 65 live in poverty, and around 80% of those who reached retirement age say they cannot afford to retire. This is not only shocking but shameful and outright disturbing. The economic system is dangerously close to collapsing and the general public is hardly aware of it.While the author bemoans this current US system and how it is manipulated by government and banks to the disadvantage of the average citizen, he struggles to suggest better solutions for the future. The Bitcoin system, which does not require a central bank or government control, is given serious consideration. The Universal Basic Income (UBI) where a fixed salary is given to every citizen to reduce poverty and increase equality is suggested but has recently been tested in Switzerland and rejected. Other systems were also considered but seemed too far fetched for practical applications . It seems obvious that changing the current financial protocols will be a major undertaking which will take years of planning, testing and trials.(Note: Sadly, this book is riddled with spelling as well as grammatical mistakes which can be distracting).Fuad R Qubein.Apr. 2018
I’ve been taking an investors class and have been someone on a financial info binge. I feel this book is written in a way so that the average hard working citizen can understand how our Govt and banking institutions operate. We always speculate & hear stories but to see it visually broken down into valid points & arguments was very eye opening.Prior to reading this book I had just had a conversation with a colleague about how we will never be millionaires working a 9-5 and we have to plan for retirement right nowwhen we still have 30 or so years. What about what we need right now at the moment?I also got more than I expected when the author touched on our outdated educational system that does little to prepare graduates for financial freedom. In fact you actually start off in debt from college. Crazy. It’s all one big ponzu scheme.There were some grammatical errors which should be revised and reprinted as I believe this is an excellent book.
This books spits out a lot of truths that many unaware people would find very depressing. The author exposes a lot of facts pertaining to our monetary system, such as the Federal Reserve, over which we have absolutely no control. It is what it is. But you do have the ability to change your status. You do have the ability to improve your life. But do you have the desire? Do you have the drive and ambition? Half the battle of life is know what the rules are for any given situation. This book will expose rules that are in place, rules which you will not be able to change, whether you find them palatable or not. Don't waste your time applying emotion to what is being offered. Learn how to use what is being offered to better your life.
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