Warren Buffett Tips Book : When Money Dies by Adam FergussonWarren Buffett aka the Oracle of Omaha (hence the name of this site) has apparently, according to a report in the Sunday Telegraph, told a few friends that a little known book called "When Money Dies: The Nightmare of the Weimar Collapse" by Adam Fergusson shows what could happen if European governments try to get out of the recession by spending.
When Money Dies was written by Adam Fergusson in 1975 and shows how the German economy was destroyed by hyperinflation after public spending was allowed to run out of control.
After Warren Buffett's tip to a Dutch financier friend the book suddenly shot up in value (good old supply and demand at work) with copies apparently changing hands for up to $2,400.
The small UK publisher Old Street Publishing must have thought Christmas had come early and has rushed out a new paperback edition.
When Money Dies author Adam Fergusson said "In Britain today there is this debate between neo-Keynesians who want to postpone any tightening of the economy and those who say it should be done at once.
"To my mind it is a nondebate, because politically now is the only time tightening can be done. In a year or so it won't be possible, politically, any more.
"When governments are not strong or brave enough politically, finally the economy goes to pieces anyway.”
If you just want the book then get the paperback copy, if you think the 1975 edition might be a good long-term investment then have a look around to see if you can pick up copies from unsuspecting booksellers or relatives !
To see which other books on investing Warren Buffett recommends see Books Recommended by Warren Buffett
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