Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies

By Nik Bhatia
"Layered Money" by Nik Bhatia provides an insightful exploration of the history, mechanics, and implications of the evolving financial system. Bhatia introduces the concept of layered money, which consists of the combination of base money (typically issued by a central bank) and bank money (created by commercial banks through lending).

With a historical lens, Bhatia traces the origins of money, from the gold standard to the emergence of fiat currencies and the growth of fractional reserve banking. He delves into the inner workings of central banks and presents a comprehensive analysis of monetary policy, highlighting its influence on economic stability and growth.

Bhatia expertly examines the advent of Bitcoin and other cryptocurrencies, and their potential to disrupt current monetary systems. He demonstrates how digital currencies can serve as an independent form of layered money, challenging the primacy of traditional banking institutions.

Throughout the book, Bhatia sheds light on the consequences of layering money, including its impact on financial instability and inequality. He urges readers to understand the complexities of money and its ever-evolving nature, emphasizing the need for a more transparent and equitable financial system.

"Layered Money" offers a captivating and accessible exploration of the intricate layers that underpin the global financial system. Bhatia's expertise and in-depth analysis make this book essential reading for anyone seeking to comprehend the present and future of money.
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