Best book on money and banking history ever written.

This is hands down the best book ever written on the theory and history of (bank) money. I haven’t read them all, of course, but it tops the ranks of David Graeber’s Debt, Perry Mehrling’s The New Lombard Street, Nik Bhatia’s Layered Money, Lyn Alden’s Broken Money, Niall Ferguson’s The Ascent of Money, and Felix Martin’s Money: The Unauthorised Biography—by far.

Deeply researched and beautifully written, with compelling storytelling and a clear recurring theme that binds it all together: the use of ledgers entries to record promises to pay and create bank money out of public debt for the benefit of the state.

This is one of those few books that I’ll reread many times and study for years to fully appreciate its beauty and try to understand how the author managed to write such a masterpiece.

And about the audiobook narration, what a delight! Perfect voice, intonation, cadence and rhythm for this topic, and so faithful to the author’s writing style. Worth getting the hardback as well though, for its high quality paper, colored pictures and elegant typography. A masterful production in every sense.

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