عنوان

Central banks and gold :

(Number (ISBN

1501705954

(Number (ISBN

9781501705953

Erroneous ISBN

150170494X

Erroneous ISBN

9781501704949

Title Proper

Central banks and gold :

General Material Designation

[Book]

Other Title Information

how Tokyo, London, and New York shaped the modern world /

First Statement of Responsibility

Simon James Bytheway and Mark Metzler.

Place of Publication, Distribution, etc.

London :

Name of Publisher, Distributor, etc.

Cornell University Press,

Date of Publication, Distribution, etc.

2016.

Date of Publication, Distribution, etc.

©2016

Specific Material Designation and Extent of Item

1 online resource (xvii, 240 pages) :

Other Physical Details

illustrations

Series Title

Cornell studies in money

Text of Note

Includes bibliographical references and index.

Text of Note

The beginnings of central bank cooperation: Tokyo and London, 1895-1914 -- World war and globalization -- Japan emerges as an international creditor, 1915-1918 -- Postwar alignment -- Wall street discovers Japan, Spring 1920 -- Putting the program into action, 1920-1928 -- Making a market: London and gold in the 1920s -- The rush for gold.

0

Text of Note

In recent decades, Tokyo, London, and New York have been the sites of credit bubbles of historically unprecedented magnitude. Central bankers have enjoyed almost unparalleled power and autonomy. They have cooperated to construct and preserve towering structures of debt, reshaping relations of power and ownership around the world. In Central Banks and Gold, Simon James Bytheway and Mark Metzler explore how this financialized form of globalism first took shape a century ago, when Tokyo first joined London and New York as a major financial center. As revealed here for the first time, close cooperation between central banks began along an unexpected axis, between London and Tokyo, around the year 1900, with the Bank of England's secret use of large Bank of Japan funds to intervene in the London markets. Central-bank cooperation became multilateral during World War I--the moment when Japan first emerged as a creditor country. In 1919 and 1920, as Japan, Great Britain, and the United States adopted deflation policies, the results of cooperation were realized in the world's first globally coordinated program of monetary policy. It was also in 1920 that Wall Street bankers moved to establish closer ties with Tokyo. Bytheway and Metzler tell the story of how the first age of central-bank power and pride ended in the disaster of the Great Depression, when a rush for gold brought the system crashing down. In all of this, we see also the quiet but surprisingly central place of Japan. We see it again today, in the way that Japan has unwillingly led the world into a new age of post-bubble economics.

Source for Acquisition/Subscription Address

JSTOR

Stock Number

22573/ctt1d25xvv

Title

Central banks and gold.

International Standard Book Number

9781501704949

Banks and banking, Central-- History.

Banks and banking, International-- History.

Gold standard-- History.

Money supply-- History.

Banks and banking, Central.

Banks and banking, International.

Gold standard.

Money supply.

POLITICAL SCIENCE-- Political Economy.

BUS023000

HIS037070

POL023000

Number

Edition

Class number

Book number

Bytheway, Simon James,1969-

Metzler, Mark,1957-

Date of Transaction

20200823040852.0

Cataloguing Rules (Descriptive Conventions))

pn

Electronic name

[Book]

Y