In Money We Trust? Documentary and Money Book Analysis

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[WLOs: 3, 4] [CLOs: 1, 2, 3, 5]
Prior to beginning work on this assignment,

Watch the 1-hour documentary, In Money We Trust?Links to an external site.
Read Chapters 1 through 6 of Money: How the Destruction of the Dollar Threatens the Global Economy—And What We Can Do About It.
Steve Forbes is an expert on the global economy, monetary policy, and politics, and for this assignment, you will have the opportunity to dissect and analyze both his Money book and the In Money We Trust? documentary. Through a written analysis, you will explore the importance of a sound money system.

It is suggested you watch the documentary first to gain insight on some of the basic concepts. Next read the book and answer the questions in sequence. Answer each of the questions noted in each section below. Each section should be approximately one page in length with a total paper length of five to six pages. Be sure to analyze and write in your own words; do not just use quotes to make your points. Additionally, judge the importance of a sound money system and assess the value of Steve Forbes’s conclusion in using the gold standard.

Section 1: Chapter 1: How We Got Here

What are Forbes’s reasons for the housing bubble and how it related to the Federal Reserve Bank’s policies?
What does a weak dollar mean and what issues may come of it?
What one other concept or idea stood out to you in Chapter 1?
Section 2: Chapter 2: What Is Money

Why must money be stable?
What is Forbes’s prediction of Bitcoin?
This was noted at the end of the chapter: “Money measures wealth, but it does not create it.” What does this statement mean?
Section 3: Chapter 3: Money and Trade

What did Nixon do with the gold standard and what was the impact?
What is Forbes’s view of trade deficits? Are his viewpoints good or bad?
What one other concept or idea stood out to you in Chapter 3?
Section 4: Chapter 4: Money Versus Wealth; Chapter 5: Money and Morality

What happens when the supply of money is increased?
How can changes in monetary policy act as a system of communication?
How are money and trust tied together?
What one other concept or idea stood out to you in either Chapter 4 or 5?

 

Sample Solution

the combination of failures and instability in foreign policy, economy, and religious reformation had the overall effect of putting the state under enough pressure to threaten its collapse. Jones’ description has since proved to be controversial amongst historians who indicate that the label of a ‘crisis’ cannot be consistently used across the reigns of Edward VI and Mary I. Thus, this essay will individually examine the prince regent and lord president who ruled on the behalf of the minor Edward VI, The Duke of Somerset and the Duke of Northumberland (John Dudley), as well as the reign of Mary I in order to understand whether the label of ‘crisis’ can be applied across the ‘Mid-Tudor’ period. Historians agree that the attempted campaign to bring Lady Jane Grey to the throne was a point of a crisis, as it concerned the succession and thus the state itself. Therefore, this essay will not consider the succession crisis but examine the rest of the period to consider if the regency, presidency and reign, and therefore if the period as a whole, can be considered a ‘crisis’. One can recognise that the Lord Protector Somerset was eventually overwhelmed by the vast economic hardship and religious discontent fostered within the peasantry, which he himself did not aid with a misguided and costly foreign policy, culminating in his downfall in 1549. However, the following leader of the Privy Council, the Duke of Northumberland, proved to be a more competent leader. As Lord President, Northumberland took key measures to bring England out of a state of crisis through his economic and foreign policies, creating a diplomatic peace abroad to crucially focus on domestic issues. Whilst Northumberland sought to fix damage caused under Somerset, Mary I’s reign can be seen as one of progression. With a monarch finally ruling the country directly again, Mary was able to secure the only realistic ally against the Valois and gained economic gains from the Spanish marriage. Therefore, whilst the period of Somerset’s regency can be labelled a crisis, the period as a whole cannot be labelled a ‘Mid-Tudor Crisis’.

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