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Debt Virus: A Compelling Solution to the World's Debt Problems, by Jacques S. Jaikaran
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Envision a world without poverty or economic oppression-a place where humankind can attain its potential amidst the weightlessness of true freedom. Imagine the United States, and the rest of the world, without hunger or homelessness where educated societies enjoy all the fruits of their labor. In such a society it would not be necessary to hand over your hard-earned dollars to the government in payment of ever-increasing taxes. Such a vision is no doubt utopian, but Jacques Jaikaran introduces us to a radical economic reorganization of what is now a debt culture and proposes a monetary revolution the results of which would virtually eliminate debt as we know it.
Debt Virus deals with the anatomy and physiology of money, the lifeblood of commerce and industry and hence the economy. Jaikaran points out a monetary error at the root of our cyclical economic problems and prescribes a cure that promises to benefit all mankind.
- Sales Rank: #1644808 in Books
- Published on: 1992-01-01
- Original language: English
- Number of items: 1
- Dimensions: 1.09" h x 6.34" w x 9.32" l, 1.40 pounds
- Binding: Hardcover
- 264 pages
Review
". . . intriguing and penetrating as it questions the traditional role of money in our economy. [Jaikaran's book] challenges orthodox methods of money management in our economy and offers a convincing alternative to the status quo . . . porvocative reading even for the layperson." -- Dr. Aston I. Veramallahy, Professor of Economics, Indiana University East
"There is no question in my mind but that the issue must be seriously considered by every American as well as people from other countries in this world . . . [Jaikaran] has observed a phenomenon that almost everyone else seems to be blind to." -- Gerald M. McIntosh, Executive Vice President, Administaff
. . . intriguing and penetrating as it questions the traditional role of money in our economy. [Jaikaran's book] challenges orthodox methods of money management in our economy and offers a convincing alternative to the status quo. . . provocative reading even for the layperson. -- Dr. Ashton I. Veramallay, Professor of Economics, Indiana University East
There is no question in my mind but that the issue must be seriously considered by every American as well as people from other countries in this world. . . [Jaikaran] has observed a phenomenon that almost everyone else seems to be blind to. -- Gerald M. McIntosh, Executive Vice President, Administaff
About the Author
Jacques S. Jaikaran was born in Guyana where only elementary education was free. In order to pay to go to high school, he became a plantation laborer even before his teen years. Following high school he bought a one-way ticket from South America to England. He won a scholarship to medical school, continuing his studies in the United States where he ultimately became a plastic surgeon. While serving on a board of directors of a Texas bank, Jaikaran began to study the monetary systems of the United States and other countries.
Most helpful customer reviews
30 of 30 people found the following review helpful.
Wealth, Virtual Wealth and Debt
By Michael Foudy
Frederick Soddy wrote a book in the 1920's with the same title as my review. Dr. Soddy was writing about the monetary system in England and he reached the same conclusions as Dr. Jaikaran. Dr. Soddy also won the Nobel Prize in Physics for work involving the discovery of Isotopes. Dr Soddy was clearly a very bright man, but after reading his book I must tell you he was obviously better with numbers and physics than he was with the English language.
Jacques Jaikaran, on the other hand, can write. Dr. Jaikaran and Dr. Soddy reached identical conclusions about money and the way it works in our society, but after reading "Debt Virus" you'll have a clearer, more understandable picture than you will after wading through "Wealth, Virtual Wealth and Debt."
This is an important book that anyone who earns, saves, invests or uses "money" (obviously I mean everyone) ought to read.
I interviewed Dr. Jaikaran for a radio show I once hosted and have heard him speak back in 1995. He taught me more about money than I had previously learned in four years as an undergraduate, three years in law school and twenty five years of business. And, he did so in an engaging, easy to understand manner.
Dr. Jaikaran (he's a medical doctor by the way) learned about money, after becoming a successful surgeon, when he was invited to join a bank board. Being a responsible person, he actually read the materials he was given by the bank, the FDIC, the Comptroller of the Currency and the Federal Reserve. Then after he resigned from the bank board and after the bank later failed, he translated all of that into English you and I can understand.
Dr. Jaikaran has made a compelling case that our civilization is piling up too much debt, causing debt inflation and creating dangerous monetary conditions. He also provides intriguing information about who owns the Federal Reserve (it's not who you think), how banking really works, the history of money, where our money comes, what banking systems might offer safer alternative systems from and other important facts. By the way, he's not a "gold bug" arguing for a return to the gold standard.
But, does any of this really matter to regular people like us? Well, if you paid attention to current events over the past five years, you will have noticed a series of currency crises in Thiland, Russia and Argentina. Those people we watched on television mobing banks, trying to get their money out of Argentina while it was still worth something and worried about the economic survival of their families, could easily have been you and me. Their system is basically the same as ours.
Dr. Jaikaran is a very bright, forthright and opinionated man with strong views on a variety of subjects. You may disagree with him about somethings, I do; however, I've not been able to find fault with his facts, logic or conclusions when it comes to money and debt.
If Dr. Jaikaran and Frederick Soddy are right about money and debt, and I think they are, then our monetary system is in grave danger.
I feel strongly enough about this that I've given this book to at least half a dozen people and suggested it to dozens of others. I would have given more away if I could find people willing to think about money, fractional reserve banking and debt.
1 of 1 people found the following review helpful.
DEBT VIRUS
By Inquiring Mind
This book should be required reading. It is written so anyone can understand. There are things in this book that everyone should know. I believe we could change the world's debt problems not just USA's. Anyone who has anything to to with running a country needs this information.
9 of 9 people found the following review helpful.
Incredible Reading
By bruce porter
This is one of the most thought- provoking and scary books I have ever read. Clearly solutions must be found to the incredible build up of world debt to avoid world crisis. Dr. Jaikaran has a solution that sounds plausible and I recommend that everyone tell those in power about this book. You will not be able to put it down!
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