How money works: How the monetary system works, and how it affects individuals and societies., (Paperback)

It is likely that only one percent of the population actually understands how money is created and how the money in circulation affects their purchasing power, even though everyone uses money in transactions every day. In a book written almost 100 years ago, a Berlin banker shares his insider knowledge and shows how money impacts people's lives across the entire social spectrum. Through letters to his son, he covers many related topics in entertaining detail, from bartering and credit, through to the fundamentals of the markets, the role of the central banks, and the impacts of inflation. Based solely on observations and his understanding of how the markets work, he predicts the depression and the stock market crash of October 1929 using an example that is still relevant today, in times where the money supply has been increased massively.This book provides you with the necessary foundation needed to act wisely in turbulent market situations. Only with a sound knowledge of the nature and function of money can you use it well to improve your own situation. If you seek to understand how money and markets work, you will find clear answers in these pages.