7 Deadly Innocent Frauds of Money

Part of How Money Works – FAQ

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The first item in this series is a short book(let) by Warren Mosler, a former Wall Street Trader and Hedge Fund guyCached version.

This book is very easy to read and will give you a whole new perspective on how money works. It is truly an eye-opener when you first read it, but then you realize that it’s all SO SIMPLE, even a child can understand it!

The recommended version to read is the version for your iPad, mobile device or Kindle.

Use the form below to email the book to your device. Email is the only way to get books on to mobile devices if not purchased through a store. Your email is only used by the site to email you the book.

Or you can download the PDF. There is the full version an abridged version or the shortest version here.

For all you “short-attention-span” people, we are working on a series of videos – so stay tuned for that. 

The 7 falsehoods that we all seem to believe are the following:

  1. That the government must raise funds through taxation or borrowing in order to spend. In other words, government spending is limited by its ability to tax or borrow.
  2. That with government deficits, we are leaving our debt burden to our children.
  3. That government budget deficits take away savings.
  4. That Social Security is broken.
  5. That the trade deficit is an unsustainable imbalance that takes away jobs and output.
  6. That we need savings to provide the funds for investment.
  7. That it’s a bad thing that higher deficits today mean higher taxes tomorrow.

What you find in the book is that all of these items listed above are 100% wrong.