The Death of Money: How the Electronic Economy Has Destablized the World's Markets and Created Financial Chaos
| Author | : | |
| Rating | : | 4.27 (535 Votes) |
| Asin | : | 0316507377 |
| Format Type | : | paperback |
| Number of Pages | : | 256 Pages |
| Publish Date | : | 0000-00-00 |
| Language | : | English |
DESCRIPTION:
In the tradition of Bankruptcy 1995, the executive editor of the Harvard Business Review demystifies the arcane world of international currency trading and shows how this 24-hour-a-day global electronic bazaar wreaks havoc on the American economy.
D. Bates said A wonderful explanation of the new, computerized financial system. This book was written 11 years ago, so some of its information is dated, but its basic premise has only become stronger: that the nature of money has changed from a tangible medium of exchange (i.e., cash) into a complex and chaotic system of computerized balance sheets and numerical flows.The Federal Reserve estimates today that the entire worldwide supply of US money is current. "Nothing in economics happens randomly" according to Golden Lion. 1.Computer nerds and mathematicians see Wall Street as a mathematical puzzle to find new ways of managing risk. The financial products that move markets and make big money are becoming more abstract. The managers of the new product abstract response to news and are quick to change.2. A trading option is called a derivative. An option is derived from a stock; the option is the rig. This book will wake you up to the new world of money and how it got to where it is today. Robert I. Muson This book filled in all the "holes" in my education in the area of money and economics. It gives a detailed history of the evolution of money from the beginning days when money had it's own intrinsic value, thru the moment when Nixon took the dollar off the gold standard to the present where money now exists as an abstraction, just numbers on a computer screen backed by nothing.