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Barbarians of Wealth: Protecting Yourself from Today's Financial Attilas

ISBN: 978-0-470-76814-3
448 pages
December 2010
Barbarians of Wealth: Protecting Yourself from Today
How the actions of a few in Europe destroyed the prosperity of the many (and how it's happening again now in America)

After the fall of the Roman Empire, vicious barbaric tribes including the Hunds lead by Atilla, the Mongols, Charlemagne and the Vikings invaded Europe, plundering property and destroying homes. But, they didn't just steal and destroy property in the villages; they also stole and destroyed any prosperity the villagers had previously enjoyed. What's worse is the barbarians of the Dark Ages did all of this not out of any deeply held religious or political belief, but, rather, for the oldest reason in the book – their own personal financial gain. Some things never change.

Barbarians of Wealth examines how the greedy, self-serving decisions of a select group of politicians and financial institutions negatively impacts the economy and, ultimately, destroys America's prosperity and the American way of life. Compelling and engaging, the book

  • Details how Goldman Sachs peddled mortgage backed securities up and down Wall Street while secretly betting against their demise
  • Discusses how Sanford Weill, founder of Citigroup spent $100 million lobbying for the repeal of the Glass-Steagall Act that prevented the merger of commercial and investment banks and got his way.
  • Examines Christopher Dodd, head of the U.S. Senate Banking Committee, has enriched himself while driving down the prosperity of his constituents
  • Offers up examples of other modern barbarians, including the Federal Reserve, Alan Greenspan, Hank Paulson, and Timothy Geithner.
  • Highlights greed driven tactics of Wall Street corporations including JP Morgan, Merrill Lynch, and Salomon Brothers.

Barbarians of Wealth is a timely must read for hard-working Americans concerned with their prosperity, as well as for those fascinated with the inner workings of Washington and Wall Street.

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Foreword.

Acknowledgments.

Introduction.

Part One: Great Barbarians of History.

Chapter 1 Attila the Hun: The Scourge of God.

Chapter 2 Charlemagne: The Clandestine Barbarian.

Chapter 3 The Vikings: Savage Pirates, Savvy Traders.

Chapter 4 Genghis Khan: Mighty Warrior.

Part Two: Banks: The Barbarians of Money.

Chapter 5 The Brotherhood of Power.

Chapter 6 Race to the Bottom Line.

Chapter 7 Say Goodbye To Gold.

Chapter 8 The Gatekeepers.

Chapter 9 Money for Nothing.

Chapter 10 The Barbarians'Powerful Ally.

Part Three: The Barbarians of Wall Street.

Chapter 11 The Scourge of Wall Street.

Chapter 12 Epic Tool of Destruction.

Chapter 13 The Brotherhood of Banks.

Chapter 14 Wall Street Bloodlines.

Part Four: Political Barbarians.

Chapter 15 The Monied-Class Rulers and Demigods.

Chapter 16 Barbarians in the Lobby.

Chapter 17 Global Barbarians.

Part Five: Protection Strategies.

Chapter 18 Diversification: The Key to Wealth Protection.

Chapter 19 Precious Metals: Inflation Protection Strategies.

Chapter 20 Barbarians of Wealth, Castles of Currency.

Chapter 21 Arm Yourself with Ultra-Resource-Rich Countries.

Notes.

About the Authors.

Index.

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SANDY FRANKS is Executive Publisher of the Taipan Publishing Group and Editor of Taipan Insider. With an editorial focus on delivering market analysis, financial insight, and investment ideas, Taipan Publishing Group offers a unique and powerful combination of services and resources in print and on the Web.

SARA NUNNALLY is Research Director of the Taipan Publishing Group and coeditor of Smart Investing Daily. She publishes her research finding in investment research reports, in-depth investment videos, blog updates, and the essential Smart Investing Daily communiqué.

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December 09, 2010
Barbarians of Wealth

The Huns, The Vikings, Charlemagne, Genghis Khan. These groups and individuals are infamous for changing history and for the methods they used to force their rule on dozens of provinces and territories. Their names are also associated with the suffering of millions and the lavish lives they lived as a result of their conquests.

Sandy Franks and Sara Nunnally’s new book BARBARIANS OF WEALTH: Protecting Yourself from Today’s Financial Attilas (Wiley; Hardcover; December 2010; $29.95 ISBN: 978-0-470-76814-3) demonstrates how these historic predators are not so different from the financial barbarian of current times, which include now historic names such as Goldman Sachs, AIG, Alan Greenspan and the U.S. banking industry, including the Federal Reserve.

How are barbarians characterized? In their book, Franks and Nunnally describe a barbarian as someone who is either unaware of or unwilling to abide by the rules of civilized life. They are willing to lie, cheat and steal to reach their goals. These definitions apply to those groups that pillaged and conquered empires throughout history, forever altering the lives of millions, but it also holds true today. Many top Wall Street, banking and government officials that were involved with the decisions that directly impacted the U.S. economy and ultimately the prosperity of the American people, engaged in the tactics of lying, cheating and stealing just as the barbarians of The Dark Ages.

The book blends the history of the Federal Reserve, banking system, modern day Wall Street institutions and congress and draws comparisons to barbarians of the dark ages. It explains how, under barbaric leadership fraught with megalomania, credit bubbles were built and prosperity was destroyed.

BARBARIANS OF WEALTH digs deep into the barbarians of The Dark Ages, explaining how the damage most history books explain as kingdom expansion or triumph truly affected those living under the rule of these leaders. The book also does the same with the barbarians of recent history who, under the guise of protecting the American economy, damaged countless Americans’ finances and in turn, their well-being.

Franks and Nunnally examine how the greedy, self-serving decisions of a select group of politicians and financial institutions negatively impacted the economy and ultimately, destroyed the American way of life. Compelling and engaging, the book:

  • Gives a concise history of the world’s most legendary barbarians, tying each to modern barbarians, including the Federal Reserve, Alan Greenspan, Hank Paulson, and Timothy Geithner.
  • Highlights greed driven tactics of Wall Street corporations including JP Morgan, Merrill Lynch, and Salomon Brothers.
  • Shares details about how Goldman Sachs peddled mortgage backed securities up and down Wall Street while secretly betting against their demise
  • Discusses how Sanford Weill, founder of Citigroup spent $100 million lobbying for the repeal of the Glass-Steagall Act that prevented the merger of commercial and investment banks and got his way.
  • Examines Christopher Dodd, head of the U.S. Senate Banking Committee, has enriched himself while driving down the prosperity of his constituents

Franks and Nunnally not only touch upon the comparisons between modern day and historic barbarians, but they also give readers tips on avoiding their wrath and how to protect themselves and their wealth. Today’s financial barbarians are using tricks such as credit card fees, bailouts and other shady tactics to get their hands on money that is not theirs. The last few chapters of the book give readers advice on safeguarding their finances and explore strategies such as diversifying a portfolio, hedging against inflation and even ways to use the barbarians weapons against them.

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Barbarians of Wealth: Protecting Yourself from Today's Financial Attilas (US $29.95)

-and- Barbarians of Oil: How the World's Oil Addiction Threatens Global Prosperity and Four Investments to Protect Your Wealth (US $27.95)

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