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Barbarians of Wealth
Protecting Yourself from Today's Financial Attilas

Sandy Franks (Author), Sara Nunnally (Author)

9780470768143, Wiley

Hardback, published 30 December 2010

448 pages, Photos: 7 B&W, 0 Color; Tables: 2 B&W, 0 Color
23.6 x 16.3 x 3.7 cm, 0.665 kg

How the actions of a few in Europe destroyed the prosperity of the many (and how it's happening again now in America)

After the fall of the Roman Empire, vicious barbaric tribes including the Hunds lead by Atilla, the Mongols, Charlemagne and the Vikings invaded Europe, plundering property and destroying homes. But, they didn't just steal and destroy property in the villages; they also stole and destroyed any prosperity the villagers had previously enjoyed. What's worse is the barbarians of the Dark Ages did all of this not out of any deeply held religious or political belief, but, rather, for the oldest reason in the book – their own personal financial gain. Some things never change.

Barbarians of Wealth examines how the greedy, self-serving decisions of a select group of politicians and financial institutions negatively impacts the economy and, ultimately, destroys America's prosperity and the American way of life. Compelling and engaging, the book

  • Details how Goldman Sachs peddled mortgage backed securities up and down Wall Street while secretly betting against their demise
  • Discusses how Sanford Weill, founder of Citigroup spent $100 million lobbying for the repeal of the Glass-Steagall Act that prevented the merger of commercial and investment banks and got his way.
  • Examines Christopher Dodd, head of the U.S. Senate Banking Committee, has enriched himself while driving down the prosperity of his constituents
  • Offers up examples of other modern barbarians, including the Federal Reserve, Alan Greenspan, Hank Paulson, and Timothy Geithner.
  • Highlights greed driven tactics of Wall Street corporations including JP Morgan, Merrill Lynch, and Salomon Brothers.

Barbarians of Wealth is a timely must read for hard-working Americans concerned with their prosperity, as well as for those fascinated with the inner workings of Washington and Wall Street.

Foreword ix

Acknowledgments xiii

Introduction 1

Part One: Great Barbarians of History 7

Chapter 1 Attila the Hun: The Scourge of God 9

Chapter 2 Charlemagne: The Clandestine Barbarian 21

Chapter 3 The Vikings: Savage Pirates, Savvy Traders 33

Chapter 4 Genghis Khan: Mighty Warrior 43

Part Two: Banks: The Barbarians of Money 55

Chapter 5 The Brotherhood of Power 57

Chapter 6 Race to the Bottom Line 77

Chapter 7 Say Goodbye to Gold 97

Chapter 8 The Gatekeepers 117

Chapter 9 Money for Nothing 139

Chapter 10 The Barbarians’ Powerful Ally 161

Part Three: The Barbarians of Wall Street 179

Chapter 11 The Scourge of Wall Street 181

Chapter 12 Epic Tool of Destruction 203

Chapter 13 The Brotherhood of Banks 221

Chapter 14 Wall Street Bloodlines 241

Part Four: Political Barbarians 265

Chapter 15 The Monied-Class Rulers and Demigods 267

Chapter 16 Barbarians in the Lobby 281

Chapter 17 Global Barbarians 297

Part Five: Protection Strategies 311

Chapter 18 Diversification: The Key to Wealth Protection 313

Chapter 19 Precious Metals: Inflation Protection Strategies 323

Chapter 20 Barbarians of Wealth, Castles of Currency 339

Chapter 21 Arm Yourself with Ultra-Resource-Rich Countries 355

Notes 373

About the Authors 413

Index 415

Subject Areas: Finance & accounting [KF]
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