Yves here. I received a review copy of Goeetzmann”s book, and I recoiled when I read the blurb. It was such an obvious example of orthodox propaganda that it went straight into the rubbish bin.
But sadly, the book is being touted by the usual suspects, such as the Financial Times, the Wall Street Journal, and the New York Times, as authoritative on the origins of money when it is unadulterated Austrian twattle. So Hudson is to be commended for doing the unpleasant but important task of slogging through the nonsense and debunking it. Please read his post and circulate it widely.…More elite propaganda. Many if not most of them likely believe their own BS.
Michael Hudson: William Goetzmann’s Money Changes Everything – A Travesty of Financial History Which Bank Lobbyists Will Applaud