Adam Fergusson - When Money Dies [Review]

When Money Dies, The True Nightmare of Hyperinflation is surely engaging, shocking in places, but above all, instructive. Although the events described in it took place in the interwar period, most of the mechanisms are still up-to-date and, especially at the present time, they are read with the amazing impression that many events are repeated over and over again.

Adam Ferguson's book was published in 1975, which is sometimes hard to believe. Although this work is primarily historical, it has stood the test of time, as evidenced by its latest edition. It turned out that the economic and social mechanisms described by the author are undoubtedly timeless. 

The Oracle of Omaha recommends

This book becomes fashionable with each new crisis. However, it became the loudest after the financial crisis in 2007, when three years later it was recommended by himself Warren Buffett. The legendary investor, known as the "Oracle of Omaha", spoke strongly to the rulers, proposing that they not only read it, but also draw the right conclusions.

The description of hyperinflation in the Weimar Republic in the interwar period is an instruction, saturated with facts, facts and figures, on how to lead to the devaluation of money and a state catastrophe, which ended in World War II, which was catastrophic for the whole world.

"If you want to destroy a country, you must first destroy its currency" - writes Adam Fergusson and it is impossible to refuse him right. 

To jail for binge eating

Although the book is not easy to read, because the author sometimes tries to describe every fact with the involvement of a medieval scribe, it is not without humor. They are described, among others bizarre punishments for gluttony, which were introduced so that the rich would not dazzle with their wealth and consumption lifestyle at a time when most of society was barely making ends meet. 

“The Bavarian prime minister even submitted a bill to the local parliament making gluttony a crime punishable by severe punishment. For the purposes of this law, a glutton has been defined as "one who habitually indulges in the pleasures of the table to such an extent as to cause discontent because of the plight of the population." The act stipulated that such an individual "could be arrested on charges of gluttony and punished with imprisonment or a fine of up to PLN 100. Marks (around £ 75) for the first crime of its kind. The second binge eating attack was punishable by up to five years of hard labor, a fine of up to 200. brands and the removal of civil rights. " - we read in the book. 

Butter is 33 times more expensive a year

Sounds bizarre? Slightly less when we realize that the price of butter has increased by as much as 33 times in just 12 months. It was estimated that the cost of living increased tenfold, while earnings increased by two to sixfold. Moreover, those who had so far performed the most respected jobs and earned the most, lost the most. 

"Academics have suffered even more than others from the collapse of the brand and are not used to a situation where (to quote one of the contemporaries):" a scientist does not earn as much for one line of published text as a street sweeper for two broom swings. " - writes the author of the book "When money dies".

It is a book that is undoubtedly worth reading to realize how little it takes to fall into a spiral of hyperinflation. Although the current situation in Europe cannot be compared to it, contrary to appearances, it does not take many decisions to enter the path from which there is no turning back ...

About the author

Adam Dugdale Fergusson was a British journalist, writer, and then politician of the Conservative Party, who served in the European Parliament. He came from a noble family, he was the son of Sir James Ferguson, born on July 10, 1932 in Scotland. His grandfather was Sir Charles Fergusson, Governor General of New Zealand. 

As a journalist, he first worked at the Glasgow Herald, where he became editor-in-chief, after having proved himself excellently as a diplomatic correspondent. He continued his career in "The Statist" and then in "The Times". He dealt with economics, politics, and in some periods also with environmental issues. He also wrote books: "Roman Go Home" and "The Lost Embassy", which were fictional items. He also published a monograph on the city of Bath - "The Sack of Bath".

He started his political career at the end of the 70s. He was an opponent of decentralization, so he quickly became a member of the 'Scotland Says No' campaign in favor of a referendum. As a result, for one term of office he even got into the European Parliament, where he even later acted as a business consultant.

When money dies - Where to buy

The book is available in Maklerska.pl bookstore at the price of 84 PLN.

We have a discount of all for our club members -5% to buy this book. Soon, a review of the book and a competition will appear in our website, in which you'll be able to win two copies.