Steve Forbes: How Destroying the Dollar Threatens the World

Steve Forbes, chairman and editor-in-chief of Forbes Media, is one of the world’s leading experts on finance. Forbes believes that money is one of the most misunderstood—and crucial—topics today.

Since the United States abandoned a gold-linked dollar more than four decades ago, the world’s governments have become dangerously ignorant of the fundamental monetary principles that guided the most successful economies for centuries.

Forbes’s new book, Money: How the Destruction of the Dollar Threatens the Global Economy—and What We Can Do About It, shows how today’s wrong-headed monetary policies are setting the stage for a new global economic and social catastrophe that could rival the recent financial crisis and even the horrors of the 1930s.

Coauthored by Forbes and Elizabeth Ames, Money shows you why that doesn’t need to happen—and how it can be prevented. The book explains why a return to sound money is essential for the United States and other nations to overcome today’s problems.

Stable money, Forbes and Ames argue, is the only way to a true recovery and a stable and prosperous economy. In Money, the authors answer these vitally important questions:

• What is the difference between money and value?
• How does sound money contribute to a well-functioning society?
• How have our money policy errors led to the current problems in global financial markets?
• What can we do now to reestablish the strength of the dollar and other currencies?

Fluctuating “fiat” money, in which governments manipulate the value of the dollar and other currencies, has been responsible for the biggest economic failures of recent decades, including the 2008 financial crisis, from whose effects we continue to suffer.

In Money, the authors show how the Bernanke/Yellen Federal Reserve and its unstable-dollar policies are accelerating our course toward disaster.

The U.S. needs to return to the gold standard, Forbes and Ames argue, and they outline the several different forms a gold standard could take. They also share invaluable suggestions for how to preserve our wealth and where to invest our money now.

Forbes spoke more about what can be done to avoid a global economic catastrophe on The 700 Club Wednesday. Watch the video below.