Victor Sperandeo is one of the most respected figures to ever walk among the giants of Wall Street. “Trader Vic” is the man Barron’s dubbed “the ultimate Wall Street pro”.
I recently learned of a book he wrote in 2000 titled Crashmaker (Cra$hmaker). It seems to be a deeply thought-out and well researched novel in two separate volumes that spans almost 1,600 pages. I am wondering if anyone has ever read the book?
CRA$HMAKER: A Federal Affaire
by Victor Sperandeo & Alvaro Almeida
Two Volumes— Preface plus 1,572 pages— Hardbound
Library of Congress Catalog Card Number: 99-93805
ISBN: 0-9671759-0-9
official website: www.crashmaker.com
“A Hidden Agenda”
“…The Fed’s real purpose— its hidden agenda— is to facilitate government spending through inflation. To avoid imposing politically intolerable levels of taxation to pay for the spending that returns them to office election after election, politicians rely on the Fed to confiscate wealth from the public through inflation. Inflation’s a hidden tax, and lessens the cost of borrowing by enabling the government to pay its debts in depreciated currency.”
CRA$HMAKER is more than an exciting story about an engineered crash of the Federal Reserve System and the markets that could actually happen. It also offers a stimulating education in the philosophy and practice of limited, constitutional government, and in the free-market economics of money and banking.
You may love what you read in CRA$HMAKER— or hate it— but when you are finished you will understand contemporary American government, and the forces behind it, as never before. And you will know why America is no longer “the land of the free”, who is responsible, and what needs to be done before Americans forfeit forever the “Blessings of Liberty” that the Founding Fathers bequeathed to them in the Constitution of 1787.
Please leave a comment on the blog or send me an e-mail if you have read the book because I am always interested in what Mr. Sperandeo has to say about economics and the market in general.
Chris,
Perhaps you would find the book “The Creature from Jekyll Island”, copyright 1994 and 1995, by G. Edward Griffin an interesting read. It is a documentary look at the Federal Reserve System.
Darin
“…The Fed’s real purpose— its hidden agenda— is to facilitate government spending through inflation.”
He nailed it. Sadly, the majority of people (I used to be one of them, not anymore) think the Fed is the white knight who “rescues” this country’s financial and economical systems every time we go through a crisis. The Fed is the problem, not the solution, as Milton Friedman once mentioned:
“Any system which gives so much power and so much discretion to a few men, [so] that mistakes — excusable or not — can have such far reaching effects, is a bad system. It is a bad system to believers in freedom just because it gives a few men such power without any effective check by the body politic — this is the key political argument against an independent central bank…
To paraphrase Clemenceau, money is much too serious a matter to be left to the central bankers.”
I have the book, I bought it this past January and it took me about six weeks to read.
The book is a story about politics and economics. It goes into the authors’ beliefs about the topics and centers around two main characters – Dominic Ancona, a self-learned trader (who I believe is based on Victor Sperandeo himself). The antagonist is Allen Stillwell, the chairman of the Federal Reserve.
The book is about a political movement to return the United States to constitutional government and a return to the gold standard. Along the way we see a lot of arguments for doing both. The antagonist, Stillwell, is an egotistical jerk who believes that he alone guides the US.
I liked the book, I ended up highlighting several of the passages in the book for later reading and plan to go through it again.
Darin,
I will take a look and check out the book you mention along with the one in this post by Trader Vic
Bob,
Clemenceau was and still absolutely correct!
Terry,
Thank you for the very brief breakdown of the book. I was already aware of Vic Sperandeo’s macro point of view from his other books but this seems to take it to a whole other level. I’ll look to tackle it this winter at some point.