I took out this book from my bookshelf recently and re-read it again, with much curiosity, I wanted to find out if I could learn something from past financial crisis and if there is any similarity of past crisis vs recent crazy price movement of Bit-coin.
I read with great interest especially on Chapter 4 ( Fueling the Flames: Monetary Expansion ).
Quote “ Speculative manias gather speed through expansion of money and credit or perhaps, in some cases , get started because of an initial expansion of money or credit. One can look back at particular manias followed by crash or panic and see what went wrong .“ Unquote
Some analyst and economist been highlighting that current high asset price including stocks , real asset and Bit-coin ?? to some extend were caused by “ultra loose “ monetary policy & QE implemented by world central bank for long