The End of Alchemy: Money, Banking, and the Future of the Global Economy

The End of Alchemy: Money, Banking, and the Future of the Global Economy PDF

Author: Mervyn King

Publisher: W. W. Norton & Company

Published: 2016-03-21

Total Pages: 287

ISBN-13: 0393247031

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“Mervyn King may well have written the most important book to come out of the financial crisis. Agree or disagree, King’s visionary ideas deserve the attention of everyone from economics students to heads of state.” —Lawrence H. Summers Something is wrong with our banking system. We all sense that, but Mervyn King knows it firsthand; his ten years at the helm of the Bank of England, including at the height of the financial crisis, revealed profound truths about the mechanisms of our capitalist society. In The End of Alchemy he offers us an essential work about the history and future of money and banking, the keys to modern finance. The Industrial Revolution built the foundation of our modern capitalist age. Yet the flowering of technological innovations during that dynamic period relied on the widespread adoption of two much older ideas: the creation of paper money and the invention of banks that issued credit. We take these systems for granted today, yet at their core both ideas were revolutionary and almost magical. Common paper became as precious as gold, and risky long-term loans were transformed into safe short-term bank deposits. As King argues, this is financial alchemy—the creation of extraordinary financial powers that defy reality and common sense. Faith in these powers has led to huge benefits; the liquidity they create has fueled economic growth for two centuries now. However, they have also produced an unending string of economic disasters, from hyperinflations to banking collapses to the recent global recession and current stagnation. How do we reconcile the potent strengths of these ideas with their inherent weaknesses? King draws on his unique experience to present fresh interpretations of these economic forces and to point the way forward for the global economy. His bold solutions cut through current overstuffed and needlessly complex legislation to provide a clear path to durable prosperity and the end of overreliance on the alchemy of our financial ancestors.

Prophecy, Alchemy, and the End of Time

Prophecy, Alchemy, and the End of Time PDF

Author: Leah DeVun

Publisher: Columbia University Press

Published: 2009-03-03

Total Pages: 273

ISBN-13: 0231519346

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In the middle of the fourteenth century, the Franciscan friar John of Rupescissa sent a dramatic warning to his followers: the last days were coming; the apocalypse was near. Deemed insane by the Christian church, Rupescissa had spent more than a decade confined to prisons in one case wrapped in chains and locked under a staircase yet ill treatment could not silence the friar's apocalyptic message. Religious figures who preached the end times were hardly rare in the late Middle Ages, but Rupescissa's teachings were unique. He claimed that knowledge of the natural world, and alchemy in particular, could act as a defense against the plagues and wars of the last days. His melding of apocalyptic prophecy and quasi-scientific inquiry gave rise to a new genre of alchemical writing and a novel cosmology of heaven and earth. Most important, the friar's research represented a remarkable convergence between science and religion. In order to understand scientific knowledge today, Leah DeVun asks that we revisit Rupescissa's life and the critical events of his age the Black Death, the Hundred Years' War, the Avignon Papacy through his eyes. Rupescissa treated alchemy as medicine (his work was the conceptual forerunner of pharmacology) and represented the emerging technologies and views that sought to combat famine, plague, religious persecution, and war. The advances he pioneered, along with the exciting strides made by his contemporaries, shed critical light on later developments in medicine, pharmacology, and chemistry.

The Mysteries of the Great Cross of Hendaye

The Mysteries of the Great Cross of Hendaye PDF

Author: Jay Weidner

Publisher: Inner Traditions / Bear & Co

Published: 2003-12-10

Total Pages: 532

ISBN-13: 9780892810840

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Decodes the message held by this enigmatic monument, revealing the alchemical secret of time and the fate of humanity.

John Dee's Conversations with Angels

John Dee's Conversations with Angels PDF

Author: Deborah E. Harkness

Publisher: Cambridge University Press

Published: 1999-11-13

Total Pages: 276

ISBN-13: 9780521622288

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This book is about Elizabethan England's most famous 'scientist' or natural philosopher John Dee and his 'conversations with angels'.

The Only Game in Town

The Only Game in Town PDF

Author: Mohamed A. El-Erian

Publisher: Random House

Published: 2016-01-26

Total Pages: 338

ISBN-13: 0812997638

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NEW YORK TIMES BESTSELLER • A roadmap to what lies ahead and the decisions we must make now to stave off the next global economic and financial crisis, from one of the world’s most influential economic thinkers and the author of When Markets Collide • Updated, with a new chapter and author’s note “The one economic book you must read now . . . If you want to understand [our] bifurcated world and where it’s headed, there is no better interpreter than Mohamed El-Erian.”—Time Our current economic path is coming to an end. The signposts are all around us: sluggish growth, rising inequality, stubbornly high pockets of unemployment, and jittery financial markets, to name a few. Soon we will reach a fork in the road: One path leads to renewed growth, prosperity, and financial stability, the other to recession and market disorder. In The Only Game in Town, El-Erian casts his gaze toward the future of the global economy and markets, outlining the choices we face both individually and collectively in an era of economic uncertainty and financial insecurity. Beginning with their response to the 2008 global crisis, El-Erian explains how and why our central banks became the critical policy actors—and, most important, why they cannot continue is this role alone. They saved the financial system from collapse in 2008 and a multiyear economic depression, but lack the tools to enable a return to high inclusive growth and durable financial stability. The time has come for a policy handoff, from a prolonged period of monetary policy experimentation to a strategy that better targets what ails economies and distorts the financial sector—before we stumble into another crisis. The future, critically, is not predestined. It is up to us to decide where we will go from here as households, investors, companies, and governments. Using a mix of insights from economics, finance, and behavioral science, this book gives us the tools we need to properly understand this turning point, prepare for it, and come out of it stronger. A comprehensive, controversial look at the realities of our global economy and markets, The Only Game in Town is required reading for investors, policymakers, and anyone interested in the future.

Anna Zieglerin and the Lion's Blood

Anna Zieglerin and the Lion's Blood PDF

Author: Tara Nummedal

Publisher: University of Pennsylvania Press

Published: 2019-03-22

Total Pages: 304

ISBN-13: 0812250893

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In 1573, the alchemist Anna Zieglerin gave her patron, the Duke of Braunschweig-Wolfenbüttel, the recipe for an extraordinary substance she called the lion's blood. She claimed that this golden oil could stimulate the growth of plants, create gemstones, transform lead into the coveted philosophers' stone—and would serve a critical role in preparing for the Last Days. Boldly envisioning herself as a Protestant Virgin Mary, Anna proposed that the lion's blood, paired with her own body, could even generate life, repopulating and redeeming the corrupt world in its final moments. In Anna Zieglerin and the Lion's Blood, Tara Nummedal reconstructs the extraordinary career and historical afterlife of alchemist, courtier, and prophet Anna Zieglerin. She situates Anna's story within the wider frameworks of Reformation Germany's religious, political, and military battles; the rising influence of alchemy; the role of apocalyptic eschatology; and the position of women within these contexts. Together with her husband, the jester Heinrich Schombach, and their companion and fellow alchemist Philipp Sommering, Anna promised her patrons at the court of Wolfenbüttel spiritual salvation and material profit. But her compelling vision brought with it another, darker possibility: rather than granting her patrons wealth or redemption, Anna's alchemical gifts might instead lead to war, disgrace, and destruction. By 1575, three years after Anna's arrival at court, her enemies had succeeded in turning her from holy alchemist into poisoner and sorceress, culminating in Anna's arrest, torture, and public execution. In her own life, Anna was a master of self-fashioning; in the centuries since her death, her story has been continually refashioned, making her a fitting emblem for each new age. Interweaving the history of science, gender, religion, and politics, Nummedal recounts how one resourceful woman's alchemical schemes touched some of the most consequential matters in Reformation Germany.

Radical Uncertainty: Decision-Making Beyond the Numbers

Radical Uncertainty: Decision-Making Beyond the Numbers PDF

Author: John Kay

Publisher: W. W. Norton & Company

Published: 2020-03-17

Total Pages: 407

ISBN-13: 1324004789

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Much economic advice is bogus quantification, warn two leading experts in this essential book, now with a preface on COVID-19. Invented numbers offer a false sense of security; we need instead robust narratives that give us the confidence to manage uncertainty. “An elegant and careful guide to thinking about personal and social economics, especially in a time of uncertainty. The timing is impeccable." — Christine Kenneally, New York Times Book Review Some uncertainties are resolvable. The insurance industry’s actuarial tables and the gambler’s roulette wheel both yield to the tools of probability theory. Most situations in life, however, involve a deeper kind of uncertainty, a radical uncertainty for which historical data provide no useful guidance to future outcomes. Radical uncertainty concerns events whose determinants are insufficiently understood for probabilities to be known or forecasting possible. Before President Barack Obama made the fateful decision to send in the Navy Seals, his advisers offered him wildly divergent estimates of the odds that Osama bin Laden would be in the Abbottabad compound. In 2000, no one—not least Steve Jobs—knew what a smartphone was; how could anyone have predicted how many would be sold in 2020? And financial advisers who confidently provide the information required in the standard retirement planning package—what will interest rates, the cost of living, and your state of health be in 2050?—demonstrate only that their advice is worthless. The limits of certainty demonstrate the power of human judgment over artificial intelligence. In most critical decisions there can be no forecasts or probability distributions on which we might sensibly rely. Instead of inventing numbers to fill the gaps in our knowledge, we should adopt business, political, and personal strategies that will be robust to alternative futures and resilient to unpredictable events. Within the security of such a robust and resilient reference narrative, uncertainty can be embraced, because it is the source of creativity, excitement, and profit.

The Alchemist

The Alchemist PDF

Author: Paulo Coelho

Publisher: HarperCollins

Published: 2015-02-24

Total Pages: 166

ISBN-13: 0062416219

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A special 25th anniversary edition of the extraordinary international bestseller, including a new Foreword by Paulo Coelho. Combining magic, mysticism, wisdom and wonder into an inspiring tale of self-discovery, The Alchemist has become a modern classic, selling millions of copies around the world and transforming the lives of countless readers across generations. Paulo Coelho's masterpiece tells the mystical story of Santiago, an Andalusian shepherd boy who yearns to travel in search of a worldly treasure. His quest will lead him to riches far different—and far more satisfying—than he ever imagined. Santiago's journey teaches us about the essential wisdom of listening to our hearts, of recognizing opportunity and learning to read the omens strewn along life's path, and, most importantly, to follow our dreams.

Alchemy—The Great Work

Alchemy—The Great Work PDF

Author: Gilchrist, Cherry

Publisher: Weiser Books

Published: 2015-06-01

Total Pages: 162

ISBN-13: 1578635853

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Alchemy is the art of transformation. At its simplest, the alchemist turns base metals into gold. However, this is only one dimension of alchemy—at a more sophisticated level the alchemist's "base metal" is symbolic of himself that needs to be worked upon and the "gold" produced is the alchemist himself in his or her quest to perfect his own nature. In short, true alchemy is a discipline involving physical, psychological and spiritual work aimed at producing wholeness and enlightenment. From the origins of alchemy, both reputed and documented, Cherry Gilchrist's lively and sympathetic narrative takes the reader from the alchemical interests of the ancient Egyptians to the flowering of alchemy in the 17th century. She also elucidates the complexities of alchemical symbolism and examines the ways in which alchemy has developed in the 20th century.

The Alchemy of Finance

The Alchemy of Finance PDF

Author: George Soros

Publisher: John Wiley & Sons

Published: 2015-06-15

Total Pages: 420

ISBN-13: 9780471445494

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George Soros ist unbestritten einer der mächtigsten und gewinnträchtigsten Investoren weltweit; seine Investmentprinzipien sind immer populärer geworden. "The Alchemy of Finance" ist eine Sonderauflage der 1987 erschienenen Originalausgabe des Buches. Sie wurde umfassend aktualisiert und mit erweitertem Vorwort und Einleitung versehen, die Soros zeitlose Investmentstrategien in einen modernen Kontext stellen. Sie enthält ein neues Kapitel, in dem Soros seine Erfolgsgeheimnisse lüftet sowie ein Vorwort des ehemaligen US-Notenbankchefs Paul Volcker. Soros erläutert detailliert seine innovativen Investmentstrategien, die ihm über Jahrzehnte hinweg gute Dienste geleistet haben und gibt eine theoretische und praktische Einschätzung aktueller Finanztrends. "The Alchemy of Finance" erscheint in neuem Design als Band der Reihe 'Wiley's Investment Classics Series'.