The End of Alchemy Money by Mervyn King Review 2019

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The End of Alchemy Money Banking and the Future of the Global Economy by Mervyn King Review 2019 Read books online

The End of Alchemy Money

Something is wrong with our banking system. We all sense that, but Mervyn King knows it firsthand; his 10 years at the helm of the Bank of England, including at the height of the financial crisis, revealed profound truths about the mechanisms of our capitalist society. In The End of Alchemy, he offers us an essential work about the history and future of money and banking, the keys to modern finance.

The Industrial Revolution built the foundation of our modern capitalist age. Common paper became as precious as gold, and risky long-term loans were transformed into safe short-term bank deposits. As King argues, this is financial alchemy – the creation of extraordinary financial powers that defy reality and common sense. Faith in these powers has led to huge benefits; the liquidity they create has fueled economic growth for two centuries now

About the Author

Mervyn King served as the governor of the Bank of England from 2003 to 2013.

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