The Money Trap: How to Escape the Grip of Global Finance - Personal Finance & Investment Guide for Financial Freedom

So much has been written about the causes and consequences of the Great Panic and Recession of 2007-9 and yet so little wisdom has been gained. Robert Pringle's book "The Money Trap" is a jewel in the haystack in that it reveals so lucidly and in a big picture fashion what went wrong and what has to be put right. Unlike so many authors, Robert Pringle has no axe to grind, no official institution to defend, and no quack cure to promote. Rather his stark thesis is that global monetary disorder lies behind the financial and economic breakdowns.As a renouned financial and economic journalist Robert Pringle is disillusioned about the present state of debate about monetary and banking reform. In that debate there is far too much focus on the nuts and the bolts whilst the overall designs remain inherently flawed. In a fascinating chapter the author discusses how central banks and governments around the world managing their huge holdings of foreign exchange reserves have become one of the biggest destabilising speculative forces in the global market-place. He does not believe that a solution to monetary disorder can come from the central bankers. The solution as it evolves must be imposed on the central bankers by a political process.The writing style is exquisitely simple for such complex issues. The reader gets drawn along by the narrative as if reading a novel and is priviledged to enjoy at every important turn a rare combination of practical knowledge and mastery of principle. This book should be a much used reference guide in coming years where the reader can check on progress or lack of progress towards building global monetary order. Robert Pringle leaves us in no doubt that such progress is the only long-run safeguard against a repeat of global market panic and recession.