When Will God Destroy Our Money?

13 Pages Posted: 18 Apr 2010

See all articles by Espen Gaarder Haug

Espen Gaarder Haug

Norwegian University of Life Sciences (NMBU)

Date Written: April 18, 2010


Few of the politicians or central bankers could see the credit crisis coming or its large impact. And who knows when it will be over. Billions upon billions of dollars have been used to bail out financial institutions. The massive bailout packages have been defended by statements asserting that the monetary and financial system is the lifeblood of our economy. If a series of big banks fails, the whole monetary system could fail and our whole economy could fail. Politicians and economists are now spending most of their time arguing about who to blame for the credit crisis and how to change the regulations so it never will happen again. Trying to solve the current problems in the economy is good, but too much focus on the present could make us ignore a potential disaster that could wipe out our whole modern monetary system. If you thought that the Federal Reserve and Ben Bernanke are the most powerful money masters in our current monetary system, you are wrong. There is in fact a much stronger money master that could destroy all our money within minutes, including the USD, the British pound, the EURO and the Ruble.

Keywords: Monetary System, Electronic Money, Solar Storms, Financial Fragility, Carrington Event

JEL Classification: A10, E10, E40, E42, E50

Suggested Citation

Haug, Espen Gaarder, When Will God Destroy Our Money? (April 18, 2010). Available at SSRN: https://ssrn.com/abstract=1591768 or http://dx.doi.org/10.2139/ssrn.1591768

Espen Gaarder Haug (Contact Author)

Norwegian University of Life Sciences (NMBU) ( email )

Oslo, Norway, 1432

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