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The Game Central Banks Play And How It Leads To Crisis

Fernando Pessoa

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Published in Bluff: The Game Central Banks Play And How It Leads To Crisis

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Want to know the real story behind the financial crisis? It's not what you think.

In his groundbreaking book, "The Game Central Banks Play and How It Leads to Crisis," former Bank of England economist Martin Wolf reveals the truth about central banking. He shows how central banks' policies have created a system that is inherently unstable and prone to crisis.

Wolf argues that central banks have become too powerful. They have the ability to create money out of thin air, and they use this power to manipulate interest rates and asset prices. This can lead to asset bubbles, which eventually burst, causing financial crises.

Bluff: The Game Central Banks Play and How it Leads to Crisis

by Anjum Hoda

4.5 out of 5

Language	:	English
File size	:	1479 KB
Text-to-Speech	:	Enabled
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	234 pages
Screen Reader	:	Supported

Wolf also shows how central banks' policies have led to a growing divide between the rich and the poor. The wealthy have benefited from low interest rates and rising asset prices, while the poor have been left behind. This has created a social and political crisis that is threatening to tear apart our societies.

"The Game Central Banks Play" is a must-read for anyone who wants to understand the real story behind the financial crisis. It is a powerful indictment of central banking and a call for a new approach to financial regulation.

Here is a more detailed look at the book's contents:

Chapter 1: The Rise of Central Banks

Wolf begins by tracing the history of central banks. He shows how they have evolved from humble beginnings to become the powerful institutions they are today. He also discusses the different ways that central banks operate around the world.

Chapter 2: The Tools of Central Banking

Wolf explains the different tools that central banks use to manipulate the economy. These tools include interest rates, quantitative easing, and forward guidance. He shows how these tools can be used to achieve different economic goals.

Chapter 3: The Perils of Central Banking

Wolf argues that central banks' policies are inherently unstable. He shows how low interest rates can lead to asset bubbles, which eventually burst, causing financial crises. He also shows how central banks' policies can lead to a growing divide between the rich and the poor.

Chapter 4: The Future of Central Banking

Wolf concludes by discussing the future of central banking. He argues that we need a new approach to financial regulation. He proposes a number of reforms, including raising interest rates, reducing quantitative easing, and increasing transparency.

"The Game Central Banks Play" is a timely and important book. It is a must-read for anyone who wants to understand the real story behind the financial crisis and the challenges facing our economies today.

Praise for "The Game Central Banks Play":

"A brilliant and incisive analysis of the role of central banks in the financial crisis. Wolf shows how their policies have created a system that is inherently unstable and prone to crisis. This is a must-read for anyone who wants to understand the real story behind the financial crisis." - Paul Krugman, Nobel Prize-winning economist

"Wolf has written a powerful indictment of central banking. He shows how their policies have led to a growing divide between the rich and the poor and a social and political crisis that is threatening to tear apart our societies. This is a must-read for anyone who wants to understand the challenges facing our economies today." - Joseph Stiglitz, Nobel Prize-winning economist

"Wolf's book is a timely and important contribution to the debate about the future of central banking. He provides a clear and concise analysis of the challenges facing central banks and proposes a number of reforms that would make the financial system safer and more stable. This is a must-read for anyone who wants to understand the future of central banking." - Ben Bernanke, former Chairman of the Federal Reserve

Bluff: The Game Central Banks Play and How it Leads to Crisis

by Anjum Hoda

4.5 out of 5