Steve Forbes: ‘Great Countries Don’t Have Weak Currencies’
Steve Forbes’ new book Money: How the Destruction of the Dollar Threatens the Global Economy and What We Can Do About It recapitulates the old and true ideas at precisely the right moment, just as we’ve seen America’s easiest Fed policy correspond with America’s worst recovery and we’re actually learning from that experience. In an interview over Skype, I asked Mr. Forbes, “why this book right now?” A partial transcript:
Mr. Forbes: Because it’s clear that authorities – monetary authorities, political authorities, economists – know less about money than their forebears did. We’re now marking the centennial of the beginning of the First World War, which shattered the old system in more ways than one. The floundering today makes it clear that the knowledge that enabled us to go from the late 18th century through the First World War, where we had the greatest increase in human wealth in history; in that one and a quarter centuries we created more wealth than all the previous centuries put together, and a key element was stable money, starting with the British pound.
Continue reading at The New York Sun.