In many ways, Bernstein s A Primer on Money, Banking, and Gold can be seen as one long preface to his bestselling The Power of Gold. In A Primer on Money, Banking, and Gold , Bernstein discusses the link that still exists between our money and gold and why.

Informationen zum Autor PETER L. BERNSTEIN is founder and President of Peter L. Bernstein, Inc., established in 1973 as publishers of Economics & Portfolio Strategy and consultants to institutional investors around the world. He is also the author of ten books, including three recent volumes from Wiley- Against the Gods: The Remarkable Story of Risk , The Power of Gold: The History of an Obsession , and Capital Ideas Evolving . Klappentext One of the foremost financial writers of his generation, Peter Bernstein has the unique ability to synthesize intellectual history and economics with the theory and practice of investment management. Now, with classic titles such as Economist on Wall Street, A Primer on Money, Banking, and Gold, and The Price of Prosperity-which have forewords by financial luminaries and new introductions by the author-you can enjoy some of the best of Bernstein in his earlier Wall Street days.With the proliferation of financial instruments, new areas of instability, and innovative capital market strategies, many economists and investors have lost sight of the fundamentals of the financial system-its strengths as well as its weaknesses. A Primer on Money, Banking, and Gold takes you back to the beginning and sorts out all the pieces.Peter Bernstein skillfully addresses how and why commercial banks lend and invest, where money comes from, how it moves from hand to hand, and the critical role of interest rates. He explores the Federal Reserve System and the consequences of the Fed's actions on the overall economy. But this book is not just about the past. Bernstein's novel perspective on gold and the dollar is critical for today's decision makers, as he provides extensive views on the future of money, banking, and gold in the world economy.This illuminating story about the heart of our economic system is essential reading at a time when developments in finance are more important than ever. Zusammenfassung In many ways, Bernstein's A Primer on Money, Banking, and Gold can be seen as one long preface to his bestselling The Power of Gold. In A Primer on Money, Banking, and Gold , Bernstein discusses the link that still exists between our money and gold and why. Inhaltsverzeichnis Foreword by Paul A. Volcker ix New Introduction xv Original Introduction xxv Part One The Money Problem Chapter 1 Why Worry about Money and Gold? 3 Chapter 2 Spending and Financing 8 Chapter 3 The Price of Money 16 Part Two The Creation of Money Chapter 4 Money in Hand and Money in the Bank 29 Chapter 5 The Business of Banking 39 Chapter 6 Bank Credit and Money 49 Part Three The Control of Money Chapter 7 The Federal Reserve System 69 Chapter 8 Federal Reserve Tools of Control 84 Chapter 9 Reserve Requirements 105 Chapter 10 Currency: A Complication 120 Part Four Gold Chapter 11 Gold at Home 133 Chapter 12 Gold Abroad 142 Part Five Theory in Practice Chapter 13 The Experience of 1938 to 1945 163 Chapter 14 The Experience of 1945 to 1963 176 Chapter 15 The Experience of 1966 188 Conclusion Money and Gold in the Future 203 Appendix Reading the Weekly Federal Reserve Statement 215 Bibliography 227 Acknowledgments 231 Index 233 ...

Autorentext

PETER L. BERNSTEIN is founder and President of Peter L. Bernstein, Inc., established in 1973 as publishers of Economics & Portfolio Strategy and consultants to institutional investors around the world. He is also the author of ten books, including three recent volumes from Wiley-Against the Gods: The Remarkable Story of Risk, The Power of Gold: The History of an Obsession, and Capital Ideas Evolving.

Klappentext

One of the foremost financial writers of his generation, Peter Bernstein has the unique ability to synthesize intellectual history and economics with the theory and practice of investment management. Now, with classic titles such as Economist on Wall Street, A Primer on Money, Banking, and Gold, and The Price of Prosperity-which have forewords by financial luminaries and new introductions by the author-you can enjoy some of the best of Bernstein in his earlier Wall Street days. With the proliferation of financial instruments, new areas of instability, and innovative capital market strategies, many economists and investors have lost sight of the fundamentals of the financial system-its strengths as well as its weaknesses. A Primer on Money, Banking, and Gold takes you back to the beginning and sorts out all the pieces. Peter Bernstein skillfully addresses how and why commercial banks lend and invest, where money comes from, how it moves from hand to hand, and the critical role of interest rates. He explores the Federal Reserve System and the consequences of the Fed's actions on the overall economy. But this book is not just about the past. Bernstein's novel perspective on gold and the dollar is critical for today's decision makers, as he provides extensive views on the future of money, banking, and gold in the world economy. This illuminating story about the heart of our economic system is essential reading at a time when developments in finance are more important than ever.

Zusammenfassung
In many ways, Bernstein's A Primer on Money, Banking, and Gold can be seen as one long preface to his bestselling The Power of Gold. In A Primer on Money, Banking, and Gold , Bernstein discusses the link that still exists between our money and gold and why.

Inhalt

Foreword by Paul A. Volcker ix

New Introduction xv

Original Introduction xxv

Part One The Money Problem

Chapter 1 Why Worry about Money and Gold? 3

Chapter 2 Spending and Financing 8

Chapter 3 The Price of Money 16

Part Two The Creation of Money

Chapter 4 Money in Hand and Money in the Bank 29

Chapter 5 The Business of Banking 39

Chapter 6 Bank Credit and Money 49

Part Three The Control of Money

Chapter 7 The Federal Reserve System 69

Chapter 8 Federal Reserve Tools of Control 84

Chapter 9 Reserve Requirements 105

Chapter 10 Currency: A Complication 120

Part Four Gold

Chapter 11 Gold at Home 133

Chapter 12 Gold Abroad 142

Part Five Theory in Practice

Chapter 13 The Experience of 1938 to 1945 163

Chapter 14 The Experience of 1945 to 1963 176

Chapter 15 The Experience of 1966 188

Conclusion Money and Gold in the Future 203

Appendix Reading the Weekly Federal Reserve Statement 215

Bibliography 227

Acknowledgments 231

Index 233