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When Washington Shut Down Wall Street: The Great Financial Crisis of 1914 and the Origins of America’s Monetary Supremacy

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When Washington Shut Down Wall Street: The Great Financial Crisis of 1914 and the Origins of America’s Monetary SupremacyWhen Washington Shut Down Wall Street: The Great Financial Crisis of 1914 and the Origins of America's Monetary Supremacy by William L. Silber
ISBN: 0691127476
Published by Princeton University Press on January 22nd 2007
Genres: Business & Economics, Economic History, Finance, General, Money & Monetary Policy
Pages: 217

Len's Summary: Traces Treasury Secretary William McAdoo’s triumph over the monetary crisis sparked by the start of WWI. With the central bank (the Federal Reserve System) authorized by the Owen-Glass Act of December 1913 not yet in place, he closed the American Stock Exchange for four months to prevent foreigners from selling their holding and demanding gold in return. McAdoo both honored America’s commitment to the gold standard and sustained public confidence in the banking system, preventing a repeat of the disastrous 1907 run on American banks. The author is a professor at the Stern School of Business, NYU.

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When Money Dies: the Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany

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When Money Dies: the Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar GermanyWhen Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany by Adam Fergusson
ISBN: 9781586489946
Published by PublicAffairs on 2010
Genres: Business & Economics, Economic History, Finance, General, Inflation, History, Europe, Germany
Pages: 269

Len's Summary: The post-WWI deadly hyperinflation that ruined the German middle class and brought the Weimar Republic near to collapse until rescued by the Dawes Plan of 1924.

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The Downfall of Money: Germany’s Hyperinflation and the Destruction of the Middle Class

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The Downfall of Money: Germany’s Hyperinflation and the Destruction of the Middle ClassThe Downfall of Money: Germany’s Hyperinflation and the Destruction of the Middle Class by Fred Taylor
ISBN: 9781620402368
Published by Bloomsbury Publishing USA on September 17th 2013
Genres: Business & Economics, Finance, General, Inflation, Money & Monetary Policy, History, Europe, Germany
Pages: 416

Len's Summary: Traces the hyperinflation of 1923 back to 1914 and war-time inflationary financing, and finds that what doomed the first German democracy (the Weimar Republic) was deflation, not inflation.

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