A detailed look at how, and why, the American financial system has reached its current state
Today's economy and capital markets are faced with the long-term buildup of public and private credit. Furthermore, we face higher taxes, greater spending, and more debt. We are now at a critical crossroads and our leaders have few realistic solutions. Proposals calling for tax reforms or fewer regulations have fallen on deaf ears. In fact, U.S. democracy has become more socialist and reform is needed immediately. Endless Money is an examination of how the U.S. government and the country's financial systems have embraced socialism, and why cultural deterioration reinforces the trend and jeopardizes democracy. In it, author William Baker sees this socialism embodied in two things. The first is the socialization of income, the second is the socialization of credit.
* Explores the present socialistic qualities of the American government and its financial system
* Looks back at how today's conditions relate not just to the Great Depression, but ancient empires such as Rome
* Calls for radical changes such as reduced regulatory power of the Federal Reserve, a considerable devaluation of the dollar in terms of gold, and repeal of income tax
* Includes a Web site devoted to book, with recommendations, quotes from the financial community, and think tank contacts
Insightful and informative, Endless Money examines our current economic condition and describes what the United States can do to get back on the right economic track.
Praise for Endless Money
"William Baker's Endless Money is a fact filled, grown up, deadly serious essay on the dangers of government grown and growing too large. His observations on the costs of taxation and dangers to our liberties as well as our prosperity are must reading."--Grover Norquist, founder and President, Americans for Tax Reform
"At last, a meaningful, insightful analysis that clearly explains why the country is on the wrong path, and what we can do about it."--James Turk, founder, GoldMoney.com
"Endless Money by William Baker offers an encyclopedic account of the 1971 decision to separate the dollar from gold. Fiat money, based on a floating scale, has introduced unprecedented inflation and a dollar in disrepair. Mr. Baker's book is an antidote to the affliction of a weak dollar since he argues perceptively for change that sensible people can believe in."--Herbert London, President, Hudson Institute
"No old homilies here--Bill Baker takes no prisoners in this engaging analysis of what went wrong in American finance. Read this book--his call for action is absolutely riveting."--Sydney Finkelstein, Professor, Tuck School of Business at Dartmouth; author of bestsellers Think Again: Why Good Leaders Make Bad Decisions and How to Keep It From Happening to You and Why Smart Executives Fail
"Bill has repeatedly demonstrated an ability to discover tremendous investment opportunities that were not in mainstream institutional research. His ability to tear apart complex situations and go against the crowd has yielded some of our best growth ideas for over a decade, regardless of whether we were in a bull or bear market or if growth or value strategies were in vogue. He is one of the best analysts on the street!"--Jerome Dodson, founder, Parnassus Investments
"Bill's thinking is deep and extremely broad in its scope and his conservative philosophy is unique, yet insightful and invigorating. His conclusions are, to say the least, controversial. Nonetheless they are needed now more than ever! I can't imagine anyone who wouldn't benefit from a thorough reading of Endless Money as well as a thoughtful re-reading of Bill's highly researched and far-reaching insights into our world of today."--Charles Knott, founder, Knott Capital Management
