Fiat Paper Money

The History and Evolution of Our Currency©


The value of money should not change——for it is our security and we must be able to count on it to bring what we want in the future.      Aristotle



In 281 pages, Fiat Paper Money© will clear away the assumptions, illusions, deceptions and distractions that cloud our understanding of money.  This is relevant now more than ever before, as we bear witness to historic events that are rapidly destroying our currency.

Ralph Foster








Fiat Paper Money—The History and Evolution of Our Currency© is one of the most important books of this century.”

D.R. Schoon

Economic Analyst


To my knowledge, Ralph Foster's extraordinary volume, Fiat Paper Money … is the most comprehensive and informative analysis available on the history of fiat currencies.

                                                                John Williams
                                           Economic consultant; MBA Economics

                                             Dartmouth College, New Hampshire
                                          Author Shadow Government Statistics


I loved [Foster’s] book on the history of paper money—it should be required reading in every college's ECON 101 course.

Donald E. Smith

Professor of Physics

College of Southern Maryland


 [Foster] draws on a wealth of primary and secondary sources, touching upon many diverse cultures, from the Chinese to the European to the American.  His professional familiarity with all types of currency and coinage grounds the book, making it refreshingly free of airy theories and complicated jargon, accessible to any intelligent reader.  I highly recommend it.

                                                        Ruth S. Arnon Hanham Ph.D.History

                                                                 Harvard 1978



Fiat Paper Money—The History and Evolution of Our Currency by Ralph T. Foster is a text that should be studied by all those that claim to be students of markets, history and currency.  Mr. Foster proves historically that a currency that continually loses buying power over a contiguous period of years and enters into a period of significant economic dislocation will implode all of a sudden… as in a currency event of hyper-inflation.

Jim Sinclair

Commodities Trader


Fiat Paper Money-The History and Evolution of Our Currency© by Ralph T. Foster is a real eye opener!    

Jim Gibson

Ph.D. Astrophysics

University of California at Berkeley


Fiat Money will go to zero.  There is no exception in recorded history.  For proof read Ralph T. Foster's book Fiat Paper Money-The History and Evolution of our Currency.  It is an in depth study of the failure of every single fiat currency.  I promise you that it will be the most important book you will ever read.  Starting with the fei-ch'ien (flying money) of the Chinese and even before that.......  I emailed Ralph Foster after reading the book-he replied to my email with a cryptic message:  "And yes.  Again it begins."


A reader's comments

Kitco Forums

September 27, 2011








                                                                     Fiat Paper Money—The History and Evolution of our Currency
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