Warren Buffett on the economy

Warren Buffet has recommended an out-of-print book written by a little known government adviser on the collapse of Germany into hyperinflation in the 1920s.

The book is called When Money Dies. Written by Adam Fergusson in 1975 but now being released by Old Street Publishing. When Money Dies describes the economic collapse in Germany after the First World War that helped pave the way for Adolf Hitler to take power. It is being seen as a warning of the dangers being posed by Europe’s current financial crisis.

The book has become a cult among top-level investors because it describes in detail the devastation hyperinflation has on ordinary people. Also, It shows that the idea that hyperinflation comes slowly is wrong. Within a single year, in 1923, the value of money was utterly destroyed and, as Adam Fergusson rightly says, “if you destroy the value of money, you destroy a cornerstone of society”

We have been warned…

Author – Paul Stanford

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