Forgive us our debts
Benjamin Kunkel: The History of Debt, 10 May 2012
Paper Promises: Money, Debt and the New World Order
by Philip Coggan.
Allen Lane, 294 pp., £20, December 2011,978 1 84614 510 0 Show More
by Philip Coggan.
Allen Lane, 294 pp., £20, December 2011,
Debt: The First 5000 Years
by David Graeber.
Melville House, 534 pp., £21.99, July 2011,978 1 933633 86 2 Show More
by David Graeber.
Melville House, 534 pp., £21.99, July 2011,
“... regimes founded on precious metals and those based on ‘virtual credit money’. In August 1971, Nixon suspended the convertibility of the US dollar into gold. Until then, foreign central banks had been entitled – under the terms of the Bretton Woods system established after the Second World War – to redeem dollar holdings at a rate of $35 an ... ”