McKinnon, Ronald I. The Unloved Dollar Standard: From Bretton Woods to the Rise of China. Oxford: Oxford University Press, 2013.
Mandelbrot, Benoit. The Fractal Geometry of Nature. New York: W. H. Freeman, 1983.
Mandelbrot, Benoit, and Richard L. Hudson. The (Mis)Behavior of Markets: A Fractal View of Risk, Ruin, and Reward. New York: Basic Books, 2004.
Martines, Lauro. Furies: War in Europe, 1450–1700. New York: Bloomsbury, 2013.
Marx, Karl. Selected Writings. Edited by David McLellan. Oxford: Oxford University Press, 1977.
Mead, Walter Russell. God and Gold: Britain, America, and the Making of the Modern World. New York: Random House, 2007.
Meltzer, Allan H. A History of the Federal Reserve, vol. 1, 1913–1951. Chicago: University of Chicago Press, 2003.
———. Why Capitalism? Oxford: Oxford University Press, 2012.
Milgram, Stanley. The Individual in a Social World: Essays and Experiments, 2nd ed. New York: McGraw-Hill,1992.
Mill, John Stuart. On Liberty. Indianapolis: Hackett, 1978.
Miller, Edward S. Bankrupting the Enemy: The U.S. Financial Siege of Japan Before Pearl Harbor. Annapolis, Md.: Naval Institute Press, 2007.
Miller, Tom. China’s Urban Billion: The Story Behind the Biggest Migration in Human History. London: Zed Books, 2012.
Mills, C. Wright. The Power Elite. Oxford: Oxford University Press, 1956.
Mitchell, Melanie. Complexity: A Guided Tour. New York: Oxford University Press, 2009.
National Commission on Terrorist Attacks upon the United States. The 9/11 Commission Report. New York: W. W. Norton, 2004.
Newman, Mark, Albert-Laszol Barabasi, and Duncan J. Watts. The Structure and Dynamics of Networks. Princeton, N.J.: Princeton University Press, 2006.
Noah, Timothy. The Great Divergence, America’s Growing Inequality Crisis and What We Can Do About It. New York: Bloomsbury, 2011.
Palley, Thomas, I. From Financial Crisis to Stagnation: The Destruction of Shared Prosperity and the Role of Economics. Cambridge, U.K.: Cambridge University Press, 2012.
Pettis, Michael. The Great Rebalancing: Trade, Conflict, and the Perilous Road Ahead for the World Economy. Princeton, N.J.: Princeton University Press, 2013.
Phillips, Chester Arthur, and Thomas Francis McManus. Banking and the Business Cycle: A Study of the Great Depression in the United States. New York: Macmillan, 1937.
Popper, Karl R. The Open Society and Its Enemies. Princeton, N.J.: Princeton University Press, 1971.
Qiao Liang, Colonel, and Colonel Wang Xiangsui. Unrestricted Warfare. 1999; reprint Panama City: Pan American, 2002.
Ramo, Joshua Cooper. The Beijing Consensus. London: Foreign Policy Centre, 2004.
———. The Age of the Unthinkable: Why the New World Disorder Constantly Surprises Us and What We Can Do About It. New York: Little, Brown, 2009.
Ray, Christina. Extreme Risk Management: Revolutionary Approaches to Evaluating and Measuring Risk. New York: McGraw-Hill, 2010.
Reinhart, Carmen M., and Kenneth S. Rogoff. This Time Is Different: Eight Centuries of Financial Folly. Princeton, N.J.: Princeton University Press, 2009.
Roett, Riordan, and Guadalupe Paz, eds. China’s Expansion into the Western Hemisphere: Implications for Latin America and the United States. Washington, D.C.: Brookings Institution Press, 2008.
Schelling, Thomas. Micromotives and Macrobehavior. New York: W. W. Norton, 1978.
———. The Strategy of Conflict. Cambridge, Mass.: Harvard University Press, 1980.
Schleifer, Andrei. Inefficient Markets: An Introduction to Behavioral Finance. Oxford: Oxford University Press, 2000.
Schumpeter, Joseph A. Capitalism, Socialism and Democracy. London: George Allen and Unwin, 1976.
Shales, Amity. The Forgotten Man: A New History of the Great Depression. New York: HarperCollins, 2007.
Shilling, A. Gary. Deflation: How to Survive and Thrive in the Coming Wave of Deflation. New York: McGraw-Hill, 1999.
———. The Age of Deleveraging: Investment Strategies for a Decade of Slow Growth and Deflation. Hoboken, N.J.: John Wiley & Sons, 2011.
Silver, Nate. The Signal and the Noise: Why So Many Predictions Fail—But Some Don’t. New York: Penguin Press, 2012.
Sims, Jennifer E., and Burton Gerber, eds. Transforming U.S. Intelligence. Washington, D.C.: Georgetown University Press, 2005.
Smith, Adam. The Theory of Moral Sentiments. Lexington, Ky.: Private Reprint Edition, 2013.
Sorman, Guy. The Empire of Lies: The Truth About China in the Twenty-First Century. New York: Encounter Books, 2008.
Steil, Benn. The Battle of Bretton Woods: John Maynard Keynes, Harry Dexter White, and the Making of New World Order. Princeton, N.J.: Princeton University Press, 2013.
Steil, Benn, and Manuel Hinds. Money, Markets and Sovereignty. New Haven, Conn.: Yale University Press, 2009.
Steil, Benn, and Robert E. Litan. Financial Statecraft: The Role of Financial Markets in American Policy. New Haven, Conn.: Yale University Press, 2006.
Stewart, Bruce H., and J. M. Thompson. Nonlinear Dynamics and Chaos, 2nd ed. John Wiley & Sons, 2002.
Strogatz, Steven. Sync: The Emerging Science of Spontaneous Order. New York: Hyperion, 2003.
Tainter, Joseph A. The Collapse of Complex Societies. Cambridge, U.K.: Cambridge University Press, 1988
Takeyh, Ray. Hidden Iran: Paradox and Power in the Islamic Republic. New York: Henry Holt, 2006.
Taleb, Nassim Nicholas. Fooled by Randomness: The Hidden Role of Chance in the Markets and in Life. New York: Texere, 2001.
———. The Black Swan: The Impact of the Highly Improbable. New York: Random House, 2007.
Taylor, John B. Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis. Stanford, Calif.: Hoover Institution Press, 2009.
Thompson, J. M. T., and H. B. Stewart. Nonlinear Dynamics and Chaos, 2nd ed. New York: John Wiley & Sons, 2002.
Tilden, Freeman. A World in Debt. Toronto: Friedberg Commodity Management, 1983.
Von Mises, Ludwig. The Theory of Money and Credit. Indianapolis: Liberty Fund, 1980.
Von Mises, Ludwig, et al. The Austrian Theory of the Trade Cycle and Other Essays. Compiled by Richard M. Ebeling. Auburn, Ala.: Ludwig von Mises Institute, 1996.
Von Neumann, John, and Oskar Morgenstern. The Theory of Games and Economic Behavior. Princeton, N.J.: Princeton University Press, 1944.
Waldrop, Mitchell. Complexity: The Emerging Science at the Edge of Order and Chaos. New York: Simon and Schuster, 1992.
Watts, Duncan J. Six Degrees: The Science of a Connected Age. New York: W. W. Norton, 2003.
———. Everything Is Obvious, Once You Know the Answer. New York: Crown Business, 2011.
Wolfram, Stephen. A New Kind of Science. Champaign, Ill.: Wolfram Media, 2002.
Woodward, Bob. Maestro: Greenspan’s Fed and the American Boom. New York: Simon and Schuster, 2000.
Wriston, Walter B. The Twilight of Sovereignty: How the Information Revolution Is Transforming Our World. New York: Charles Scribner’s Sons, 1992.
Yergen, Daniel, and Joseph Stanislaw. The Commanding Heights: The Battle Between Government and the Marketplace That Is Remaking the Modern World. New York: Simon and Schuster, 1998.
Zijlstra, Jelle. Dr. Jelle Zijlstra: Gesprekken en geschriften. Naarden, Netherlands: Strengholt, 1978.
———. Per slot van rekening, memoires. Den Haag, Netherlands: CIP-Gegevens Koninklijke Bibliotheek, 1992.
INDEX
The page numbers in this index refer to the printed version of this book. The link provided will take you to the beginning of that print page. You may need to scroll forward from that location to find the corresponding referenc
e on your e-reader.
Abe, Shinzo, 160–61, 260–61
Abenomics, 261, 264, 297
Abraham, 217
Adenauer, Konrad, 116
Afghanistan, 55
Aid, Matthew, 53
AIG, 77
Air-Sea Battle, 44, 63
Akerlof, George, 83, 84, 87
Albania, 136
Aldrich, Nelson, 199
allocated gold transactions, 275
Alpert, Dan, 245
Al Qaeda, 19, 27
alternative funds, 299–300
Ambinder, Marc, 63
American Airlines, 18, 20, 21, 24, 25, 26, 27–28, 35, 36
Ames, Paul, 143
ANZ Bank, 227
Arab Spring, 3
Argentina, 261, 290
ARPANET, 174
Articles of Agreement, IMF, 199, 212–14, 235
Asian financial crisis, 45, 120
Åslund, Anders, 142
asset swaps, 80–81
Associated Press, 59
asymmetric markets, 83–88
Atta, Mohamed, 24–25
Australia, 281
autonomous agents, 266
Azerbaijan, 233
Aziz, Shaukat, 31
Backus, David K., 74
backwardation, of gold futures contracts, 285
Bahrain, 58, 152
Baker, James, 177
Balko, Radley, 294
bank deposit risk, 218–19
bank failure risk, 218
Bank for International Settlements (BIS), 213, 276–78
banking risk, 11–12
Bank of England (BOE), 159–60, 161–62, 223, 230
Bank of Japan (BOJ), 160, 161–62
Bank of the United States, 199
barter, 254–55
Bear Stearns, 77, 103
Beijing Consensus, 118, 120–21
BELLs (Bulgaria, Estonia, Latvia, Lithuania), 140–146
economic responses to 2008–9 crisis and subsequent recovery in, 142–46
euro peg/conversion in, 141, 144–45
Berlin Consensus, 121–27
cooperative labor-management relations pillar of, 123–24
efficient labor pillar of, 124–25
innovation and technology pillar of, 122
low-corporate-tax-rates pillar of, 122
low-inflation pillar of, 122–23
positive business climate pillar of, 125–26
Bernanke, Ben, 262
cheap-dollar policy of, 129, 157–59
deflation and, 76, 77
information’s role in efficient markets, analysis of, 84, 85–86, 87
London speech of, 158–59
Tokyo speech of, 129, 157–58
bin Laden, Osama, 19–20, 37
bitcoin, 254
Black Death, 115
Black Monday, 270
Blackstone Group, 51–52
Bloomberg, Michael, 294–95
Bloomberg News, 101, 145
Boeing Corporation, 58–59
Boesky, Ivan, 18
bond markets, 180
Bosnia, 136
Brazil, 139. See also BRICS (Brazil, Russia, India, China, South Africa)
gold-to-GDP ratio of, 281
IMF commitment of, 202
inflation in, 3
Bretton Woods system, 118, 208–9, 235, 290
BRICS (Brazil, Russia, India, China, South Africa), 139–40, 146–50
foreign policy coordination by, 149–50
IMF voting reform requested by, 148
multilateral lending facility proposed by, 148–49
UN Security Council expansion sought by, 147–48
British Banking School, 168
BRITS, 177–83
Bronze Age collapse, 5
Brown, Gordon, 202, 274
Buffett, Warren, 32, 170–71
Bulgaria. See BELLs (Bulgaria, Estonia, Latvia, Lithuania)
Burlington Northern Santa Fe Railway, 170
Burns, Arthur, 271
Bush, George H. W., 210
Bush, George W., 37, 210
C-20 (Committee of Twenty), 235–36
Canada, 202, 281
Cantillon, Richard, 7
capital flight, from China, 104–6
Carolingian Renaissance, 113
Carter, Jimmy, 85, 252, 295
Carter administration, 235
Carter bonds, 1, 253
cash, as investment, 300
central banks
Bank of England (BOE), 159–60, 161–62, 223, 230
Bank of Japan (BOJ), 160, 161–62
Bank of the United States, 199
central planning of, 69–72
European Central Bank (ECB), 117, 172
Federal Reserve (See Federal Reserve)
gold acquisition by, since 2010, 225–30
gold market manipulation by, 271–81
IMF as de facto, 199–207
purpose of, 199
Second Bank of the United States, 199
Central Intelligence Agency (CIA)
MARKINT and, 37–39
Project Prophesy and, 28–34
Rauf plot and, 36–37
“Challenge of Information Warfare, The” (Pufeng), 44
Charlemagne, 112, 113–14, 118
chartalism (state theory of money), 168–69
chartal money, 168
Chávez, Hugo, 40, 231
cheap-dollar policy of Federal Reserve. See easy-money policy of Federal Reserve
Cheney, Dick, 37
Chen Zhou, 43–44
Chiang Kai-shek, 91
China, 97–111, 139, 151, 152, 233. See also BRICS (Brazil, Russia, India, China, South Africa)
Beijing Consensus and, 120–21
capital flight from, 104–6
centralization, disintegration, and recentralization history of, 90–92
central planning, failure of, 69
collapse of, implications of, 297–98
Cultural Revolution in, 92
dollar investments of, 44
dynasties of, 90, 91–92
economic growth of, 93–96
elite/oligarch class in, 97–98, 101, 104–11
financial warfare capabilities of, 45–46, 51–53
GDP of, 93, 96
gold accumulation by, 12, 61, 226–30, 282–84, 296
gold as percentage of reserves of, 279
gold-to-GDP ratio of, 157, 281–82
IMF commitment of, 202
income inequality in, 106
inflation in, 3
infrastructure spending in, 98–101, 107–8
investment in European Union (EU), 126–27
investment/malinvestment in economy of, 95–101, 107–110
iron rice bowl principle in, 93
one-child policy, 95, 102
rebalancing of economy from investment to consumption and, 98, 107–110
shadow finance system in, 101–4
state-owned enterprises (SOEs) in, 97–98, 107
Taiping Rebellion, 91
unrestricted warfare doctrine and, 44–45
U.S.-Iran financial war and, 56, 57
Warlord Period, 91
Warring States period, 90
China Daily, 52
China Investment Corporation (CIC), 51
China National Petroleum Corporation, 97
China Pet
rochemical Corporation (SINOPEC), 97
China Railway Corporation, 255
China State Shipbuilding Corporation, 97
China Telecom, 97
Churchill, Winston, 116, 223
Citibank, 28, 30–31, 262
Citigroup, 196
civilizational collapses, 5
Clinton, Bill, 210
cluster paradigm, 192–93, 194, 198
CNN, 36, 37
codetermination, 123–24
Cohen, David, 54
Coinage Act of 1792, 217
Cold War, 46, 231
collapse
civilizational, 5
financial, 265–67
of international monetary system, 5
market, 11–12
warning signs of, 295–98
collateral swaps, 188
College of Europe, 116
commodities, 217
Communist Dynasty, 90, 91–92
complexity theory, 6, 269–70
financial collapse and, 265–67
market collapse and, 11–12
phase transitions in, 172, 265, 289–90
computational complexity theory, 71
confidence, in U.S. dollar, 253–56, 291
confirmation bias, 26
continuity of government operations, 63
contract theory of money (contractism), 165–67, 169
corporate tax rates, 122
correlations, 4–5
Cosco, 133
Counter-Reformation, 115
credit, in premoney economies, 255
creditism, 168–69
credit risk, 218
criticality, 270
Croatia, 136
Croseus, King, 217
“Crunch Time: Fiscal Crises and the Role of Monetary Policy” (Mishkin), 286–87
Crusades, 115
currency war, 159
cyberattacks, 59–60
cyclical downturns, 197–98
Cyprus, 200, 290
Dam, Kenneth W., 209–10
Da Silva, Tekoa, 236
Davoudi, Parviz, 151
“Day After, The” (Ambinder), 63
debasement, of money, 172
debt, 171–80, 290–91
Federal Reserve monetary policy’s relation to, 176–77, 180–89
Federal Reserve Notes as, 167
monetization of, 287–88
sustainable, 171–72, 176–80
tests for acceptable government spending, 173–76
The Death of Money Page 41
