Fraudcoin

Summary

Fraudcoin is an excellent book exploring the role of inflation on politics and world history. Inflation is largely a political decision that impacts all aspects of society and can bring down mighty empires, yet there is little debate about why inflation occurs and the immense repercussions. This book is an important contribution toward educating the public that the destructive power of inflation is not an unfortunate act of nature, but the result of reckless policy.

Glenn Diesen, Professor, University of South-Eastern Norway, Department of Business, History and Social Sciences

This is an incredibly important book. It lays out the story of the inflation policy in a clear, precise, and easy-to-understand way. It is absolutely necessary for a healthy society to have healthy money, but that will not happen until most people understand what sound money is, and why the inflation policy creates sick money.

@hodlonaut

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Rune Østgård’s easy-to-read book explains what inflation is and how it affects the society.

The book takes us through 1000 Years of Inflation as a Policy, beginning with the Viking age and King Harald Hardrada, who introduced the death penalty for those who did not accept his coins as payment.

With lessons learned from the historical narrative, it is easy to join the author on the ‘journey of money’ through modern society, as he demonstrates how inflation redistributes wealth from the working and middle classes to the upper class, speculators, and the state, and away from the countryside and into the big cities.

The book includes a discussion on several issues related to monetary policy, including national security, cryptocurrency, saving and investment, and if it is correct to say that “a little inflation is good for the economy” and that “our system is based on trust”.