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Broken Money: Why Our Financial System is Failing Us and How We Can Make it Better Paperback – Aug. 20 2023

by Lyn Alden (Author)
4.7 on Goodreads
1,071 ratings
#1 Most Gifted in Banks & Banking
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A Comprehensive Overview of the Past, Present, and Future of Money

Broken Money explores the history of money through the lens of technology. Politics can affect things temporarily and locally, but technology is what drives things forward globally and permanently. The book's goal is for the reader to walk away with a deep understanding of money and monetary history, both in terms of theoretical foundations and in terms of practical implications.

From shells to gold, from papyrus bills of exchange to central banks, and from the invention of the telegraph to the creation of Bitcoin, Lyn Alden walks the reader through the emergence of new technologies that have shaped what we use as money over the ages. And beyond that, Alden explores the concept of what money is at its very foundation to give the reader a framework to analyze and compare different types of monetary technologies and monetary theories.

The book also takes a distinctively human look at how money impacts the lives of real people, and how new monetary technologies shape the power structures within society.

In the modern era, energy abundance and technological enhancements have broadly improved human well-being, but the global monetary system has been slow to keep up. There are over 160 active currencies in the world, each with a local monopoly over its own country, and with little or no acceptance elsewhere. Many of them are rapidly diluted, which continually devalues the savings and the wages of the billions of people who live and work within those jurisdictions. Being born in the "wrong" country makes saving money far harder than it needs to be.

Nigeria has a population of over 200 million people and has averaged 13% annualized inflation over the past decade. Egypt cut its currency in half relative to the dollar twice over the past decade, which instantly devalued the savings and wages of its 100 million citizens. Dozens of countries have experienced at least triple-digit year-over-year inflation within the past four decades, including Brazil that outright hyperinflated in the 1990s while it was the fifth most populous country in the world.

Europe and Japan had $18 trillion worth of negative-yielding bonds in 2019, right before a wave of inflation wiped their purchasing power away. In 2021, the chairman of the U.S. Federal Reserve dismissed the idea that the sharp rise in the money supply from the pandemic stimulus would lead to price inflation. By 2022, as major inflation emerged, the chairman rapidly changed his outlook and tightened monetary policy so quickly that it led to the failure of some of the largest banks in the country.

How did we get to this point? Why isn't our money better than this in the 21st century? Broken Money answers these questions by examining the current mix of technology that has led to these limitations, and then explores emerging technologies that may be able to provide us with a monetary system that is fit for the modern era.
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  1. Print length
    538 pages
  2. Language
    English
  3. Publication date
    Aug. 20 2023
  4. Dimensions
    15.24 x 3.43 x 22.86 cm
  5. ISBN-13
    979-8988666318
  6. See all details
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Product details

  • ASIN ‏ : ‎ B0CG8985FR
  • Publisher ‏ : ‎ Timestamp Press (Aug. 20 2023)
  • Language ‏ : ‎ English
  • Paperback ‏ : ‎ 538 pages
  • ISBN-13 ‏ : ‎ 979-8988666318
  • Item weight ‏ : ‎ 780 g
  • Dimensions ‏ : ‎ 15.24 x 3.43 x 22.86 cm
  • Customer Reviews:

About the author

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Lyn Alden

Lyn Alden

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Lyn Alden is an independent investment and macroeconomic analyst that provides research for retail and institutional investors at lynalden.com. With a background that blends engineering and finance, she specializes in analysis of energy systems and monetary systems. In addition to her research publications, Lyn also serves on the board of directors for Swan.com and is an advisor to the venture capital firm ego death capital.

Customer reviews

4.9 out of 5 stars
4.9 out of 5
1,225 global ratings
A must read !
5 Stars
A must read !
By far one of the best book out there that outlines why our current financial system is broken. This book also explains this already happened in the past several times and it never ends well. Bitcoin is the way forward to fork out of these disastrous system and will allow to build on a solid foundation as opposed to start all over again on another centralized ledger that can be tempered by governments and a small group of person as they see fit.
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Top reviews from Canada

Paul Morgan
5.0 out of 5 stars A lot to read
Reviewed in Canada on March 25, 2024
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I was not expecting the text to be almost 500 pages and the font is small. I skimmed a few sections and am just getting started on a more thorough read. Looking forward to it and I've always found her ability to convey ideas very easy to understand - even for me. This is a particularly relevant time for the topic.
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HSader
5.0 out of 5 stars "Broken Money " An interesting & useful read
Reviewed in Canada on October 20, 2023
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"Broken Money" by Lyn Alden explores the intricate dynamics of the global monetary system. Alden delves into the historical context, dissects the evolution of currencies & the challenges they face. The book scrutinizes the consequences of monetary policies, offers insights into inflation, deflation, and the double edged role of central banks. Alden also provides a comprehensive analysis of alternative assets like gold and cryptocurrencies. The reader gains a profound understanding of the factors influencing economic stability and the potential paths for the future. Alden's articulate exploration offers a thought-provoking perspective on the vulnerabilities inherent in contemporary monetary systems.

"Broken Money" skillfully weaves historical details to support her central thesis on fiat currency's vulnerability to high entropy due to government's manipulation, which sets a trends that ensures the shorting of their Fiat currencies. While historical context enrich understanding, perspectives on the balance of historical depth may vary. Ultimately, Alden's narrative choice serves to illustrate the complexities and nuances of her argument. If you prefer a more focused exploration of the central thesis, you might find some sections more detailed or repetitive than necessary. However, many readers will find the historical insights valuable in grasping the broader implications of her argument.

Lyn Alden's exploration of fiat currency's vulnerabilities lays the groundwork for introducing Bitcoin as a potential solution. Her recognition of Bitcoin's global accessibility & resistance to tampering reflects an acknowledgment of its unique characteristics. Importantly, she maintains honesty and transparency about her preference, ensuring the integrity of her analysis. By presenting a well-reasoned argument, Alden allows readers to critically assess the strengths and weaknesses of various financial systems, including the potential role of Bitcoin. This balanced approach contributes to the overall credibility of her work. While delving into technical aspects of Bitcoin, Alden ensures that even readers less familiar with crypto engineering can skip these parts without diminishing the overall interest and usefulness of the book to the lay reader.

'Broken Money' skillfully navigates the complexities of monetary systems, offering valuable insights. A definitely good reading learning experience for the curious and involved mind in finance, accessible to almost all.
2 people found this helpful
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VM
5.0 out of 5 stars Fascinating book on monetary theory and bitcoin
Reviewed in Canada on December 26, 2023
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I loved how easy this book was to read and how it mapped out who owned and owns the ledger throughout history and now. This is such an important topic considering how governments abused the ledger over the past few years which saw the highest inflation in decades followed by the sharpest rise in interest rates in decades. Western society has gotten a taste of what country’s like Nigeria and Argentina are going through. Capital countries, rapid currency debasement, asset seizure, and unauthorized bank account seizure. I live in Canada and witnessed first hand as peaceful protestors bank accounts were seized without proper due process. This book is a wake up call to everyone that unless you fight and are aware of this it could happen to you.
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George
5.0 out of 5 stars Phenomenal book
Reviewed in Canada on April 27, 2024
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Lyn Alden has stunned me with the quality of this book. It is topical, far reaching and even handed in its analysis. It manages to touch on money, technology, energy, politics, cryptography, privacy and economics in an interesting and accessible way. One of the best books I have ever read and I don't say that lightly. Life changing for someone seeking to understand money.
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andrzej p.
5.0 out of 5 stars great book excellent value
Reviewed in Canada on May 14, 2024
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the book is a comprehensive explanation of monetary system logically structured and supported with data.
in my opinion, it should cost 100+ not 30+.
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Customer
5.0 out of 5 stars Amazing resource
Reviewed in Canada on September 6, 2023
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Honestly thought I was buying yet another financial book where the author has one good idea overly stretched into a 400 pages rant. You know the kind I’m talking about, average NY times bestseller etc.

This is not the case at all. This goes deep into how the financial system was built (historical and geopolitical considerations) as well as how it works mechanically. The quality of the writing combined with her clarity of thought makes it super educational. No fuss, dense but expansive. I take notes from the books I read and I have written more notes on this one than on the last 20.
3 people found this helpful
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Giulio Perroni
4.0 out of 5 stars Solid detailed content on evolution of money and what it is
Reviewed in Canada on December 9, 2023
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Half-way thru and I'm glad I got it. Lots of quotes from academics and professionals. I'm looking forward to her thoughts on crypto vis a vis "money" and the wider ramifications...
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Nick Blazenko
5.0 out of 5 stars Should be mandatory reading
Reviewed in Canada on April 28, 2024
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Great read. Lyn does a great job breaking everything down into digestible information. Very thorough
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Top reviews from other countries

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Gary
5.0 out of 5 stars Great book on the history, technology, and governance of money!
Reviewed in the United States on May 4, 2024
Verified Purchase
The book presents the past, present, and possible future of money. The author makes a compelling case for how nations continue to abuse the wealth of citizens through the debasement of fiat currencies and how Bitcoin could change that going forward. The book is both a history of money (first half) and a bullish presentation and explanation of Bitcoin, how it works, and how it's different from other cryptocurrencies and any other historical money. Well-written and worth the 494 pages to read.
4 people found this helpful
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Mr. M
5.0 out of 5 stars Well explained finance and economics!
Reviewed in Mexico on September 22, 2023
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Very readable, distilled economic commentary. Definitely changed my perspective on where the US dollar is going and it's negative impact on the majority of the developed world over the last century.
One person found this helpful
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Matteo Mengoni
5.0 out of 5 stars Capolavoro
Reviewed in Italy on June 14, 2024
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Un assoluto capolavoro che spiega l'importanza della tecnologia nella storia della moneta. Non bisogna aver nessuno schieramento per leggerlo, Lyn rimane molto neutrale e i suoi pensieri sono condivisibili da chiunque
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Pierre
5.0 out of 5 stars Amazing!
Reviewed in Germany on June 7, 2024
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Everyone must read this book. Lyn is amazing.
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Envío rápido
5.0 out of 5 stars Envío rápido
Reviewed in Spain on April 29, 2024
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Muy bien
One person found this helpful
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