Broken Money: Why Our Financial System Is Failing Us and How We Can Make It Better

4.8 4.8 out of 5 stars | 1,765 ratings

Price: 21.83

Last update: 04-03-2025


About this item

Broken Money explores the history of money through the lens of technology. Politics can affect things temporarily and locally, but technology is what drives things forward globally and permanently.

The book's goal is for the listener to walk away with a deep understanding of money and monetary history, both in terms of theoretical foundations and in terms of practical implications. From shells to gold, from papyrus bills of exchange to central banks, and from the invention of the telegraph to the creation of Bitcoin, Lyn Alden walks the listener through the emergence of new technologies that have shaped what we use as money over the ages. And beyond that, Alden explores the concept of what money is at its very foundation to give the listener a framework to analyze and compare different types of monetary technologies and monetary theories.

The book also takes a distinctively human look at how money impacts the lives of real people, and how new monetary technologies shape the power structures within society.

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.


Top reviews from the United States

  • Book guy
    5.0 out of 5 stars Best book I've ever read about how money works
    Reviewed in the United States on January 6, 2025
    This book is like a 2.0 version of Griffin's "The Creature from Jekyll Island" from back in the 90's. She explains things really simply and helps you understand what Bitcoin and decentralized currencies are all about, why they are needed and where we are headed. This should be required reading in every high school in the U.S.A, really in the world. This woman is geeky smart and her engineering background lends to being able to rip apart systems to show you how they work.
  • paul
    5.0 out of 5 stars The Only Solution That Gives You Control
    Reviewed in the United States on October 10, 2023
    Bitcoin could be, perhaps should be, a global-game-changer. Lyn Alden does a fine job of placing Bitcoin in larger contexts: technological, historical, economic, political. Her perspective is that of an engineer evaluating a new tool that has come on the market. By the end, she has compared Bitcoin to historical solutions (gold), current solutions (fiat), and other proposed solutions (other crypto). Only Bitcoin provides the functionality of a strong currency (value that cannot be debased, ease and speed of exchange, privacy, freedom from manipulation, and ability to operate across time and distance). Her historical analysis is necessary so that readers understand what the attributes of a universal currency should be and what vulnerabilities led - over time - to the failure of previous econo-politico-financial monetary solutions.

    Implicitly, she asks, "Does Bitcoin meet the need?" "Does it avoid previous and recurring difficulties?" "Does it create new problems?" "Are there other crypto solutions that are just as good, but cheaper, safer, easier to implement, more acceptable to users, or more acceptable to regulators or governments?" This book is a 500+ page "software review." After years of research, thought, and due diligence, Ms. Alden concludes that Bitcoin could be a much-needed improvement and should be supported/adopted. She recounts her own journey, from moderate skepticism to cautious support. She believes that fiat currencies and the current global system of petro-dollars has/is/will fail most people in the world. She believes that proof-of-stake currencies are mortally flawed and that stable coins simply digitize the economic unfairness of fiat currency. All that is left on her workbench is Bitcoin (and a few much smaller proof-of-work currencies). Since Bitcoin has already attained considerable size, use, and acceptance, she recommends it. Her recommendation is not absolute, but considered and conditional. Alden is an engineer. She understands the evolution of tools, systems and technologies. She is pragmatic. Bitcoin is the best tool currently available. If the current fiat currency/national bank/petro-dollar system is imploding (I agree it is), drastic change is a required. Economic and political forces advocate for their version of a new system (just as such forces did at Bretton Woods). Alden asks us to see that for what it is and reject the status quo's self-serving digital solutions. She asks us to embrace Bitcoin since it is the only solution that can give us, "the other 99%," some "control of the ledger."

    I am less optimistic than Alden. I consider her evaluation of the global monetary crisis and Bitcoin's potential value sound. But I do not trust that most people or most companies will refuse the strongly marketed digital solutions offered by governments, regulators, and banks. Most people (sad to say) value convenience, personal costs, and immediate benefits more than privacy, public cost, and long-term benefits. Bitcoin should survive and grow, but it is unlikely to become a single, universal currency. Alden has little faith in public institutions. Sad. Apparently, I have little faith in people (even sadder). Or at least in their ability to resist popular trends.

    The book is a must read for investors and onlookers, academics and non-academics, anyone who wants to understand the reinvention of money. The book's straightforward style and organization make it accessible and easy to translate. Even if Bitcoin fails to replace our current, flawed system, it can and should serve as a critical/useful alternative.
  • Brad Abbott
    5.0 out of 5 stars Everyone should read to understand the Money they use - this is not taught in school by design
    Reviewed in the United States on December 28, 2024
    Very thorough and well written. Provides a clear-eyed perspective on the money we all use and how it designed to reduce your purchasing power over time. Please educate yourself as you spend your time working for a fiat currency you likely don't understand because you simply have not given it much thought or had it explained clearly like Lynn does. Fiat is necessary but it undermines your efforts and ultimately keeps you poor if you hang on to it.
  • SMT
    5.0 out of 5 stars Good enough to give to my grown children
    Reviewed in the United States on December 25, 2024
    I’ve purchased three copies of this book. The first was for myselfand books two and three were for my grown children, for Christmas this year. I rarely give my kids anything that I don’t believe is good. Given the mess that I believe our global financial system is fast approaching, I want to bring their attention to what will likely be a pivotal situation that takes place during their lifetime.

    I feel this book does a good job of explaining the evolution and historical context of money and our currency, including the origins of cryptocurrency. That’s the part I think is good about this book, Parts 1-4. However, I am not a believer in cryptocurrency. I think it is a sophisticated Ponzi scheme that is attracting 2 types of people: traders trying to make a fast buck and investors who simply have not done their thorough due diligence. And I think time will prove that to be true. There are so many red flags to cryptocurrencies that I’m not going to give it credence. I’m not even going to get into an argument with anybody about it. So Part 5 mainly focuses on cryptocurrency and I pretty much skipped over it. If we are indeed heading towards a global financial disaster, I do not believe that cryptocurrency will play a role in getting us out of it. I believe there are better and more reliable paths towards resolution.

    Despite that, I think this book, at least parts 1-4, are well worth the time and money spent. For those parts alone, I recommend this book.
  • Alyson Francis
    5.0 out of 5 stars very well researched
    Reviewed in the United States on December 16, 2024
    Lyn Alden's style is plan spoken and direct, which makes this book very pleasant to read.

    It is extremely well researched, with tons of historical context and data.

    I was orange pilled by Lyn watching Wealthion (now Thoughtful MOney) and her book strongly reinforced everything I have learned from her.

    I strongly recommend to anyone who wants to preserve their wealth and understand very clearly what has caused the massive and ever growing wealth divide on our planet.
  • Mike
    5.0 out of 5 stars Lots of Information
    Reviewed in the United States on January 2, 2025
    I am glad that I read this book. I feel like I easily completed 3 college courses by reading it. Lyn is a very good writer and explained the concepts well. I recommend this book.
  • Fsaran
    4.0 out of 5 stars Great overview of monetary system
    Reviewed in the United States on September 17, 2024
    Great review of monetary system, at times onerous but thorough. The crypto section has a Bitcoin bias but understandable from Lyn Alden. Overall good information but the storytelling and readability could use some work

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