World Commodities & World Currency

Gold-backing is the past; Multi-commodity-backing (now easy with computers & gloabliization) is the future.The only (main) question is how long will it take for us to attain this (planetary economic stability [from equitable commodity stability). Graham-- a widely acknowledged monetary-macroeconomic genius if ever there was one-- was writing this book both for his time (the predictable [if not to say pre-arranged] 'Bretton Woods' discussions of 1944), and for the long-term future, when the old mass/gross war-economies of the 20th century would (eventually) deliver the requisite technological and statistical development (on ALL continents of the world) to make this 'Jetsons'-like dream (of no more structural barbarism and dystopia) a very attainable reality. It's not even 'rocket science' when one thinks clearly and consistently in strategy. Bank 'credit money'-based "national debt economies" (in addition to the preceding 'free-banking' and 'state-banking' orders) have always crashed [mostly under the weight of their own accumulated debt] every 7 or 8 decades (i.e. c.2020, c.1930, c.1860, and [to a lesser extend, and only in the UK & Europe] the 1780's). This ('governing') phenomenon is nothing new, and no more surprising than a wind-up toy winding down. Graham knew this, as did John Maynard Keynes. But Graham (a self-made trader who only took up academics when he had to) always saw things deeper, at the ontological level (rather than an epistemological or 'academic' level). The word "currency", by the way, implies 'money that is issued by government'. But with a Graham-type system, no 'world government' is necessary (becuase the world monetary reserve system is stable, not topsy-turvy and creating instability and crises all over the place every few years). It's a system of accurate and meaningful statistics (of things that are useful in reality, not primarily in rhetoric), not a system of 'big government'.No more 'failing upwards'-- for governments or banks, politicians or war-mongers. Humanity can attain sustainable stability in its governing institutions-- without becomig slaves-- this century, perhaps even this decade.

I have been considering investing in commodities. But I didn't understand this investment area. Benjamin Graham makes it clear! He is still a master.

When it is from Benjamin Graham, i knew it will be good. it is a bible for the commodities trader. i found it usefull

Delivered as expected

Great book. Absolutely incredible teacher of Finance.