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“For many centuries, money and banking were financial alchemy, seen as a source of strength, when in fact they were the weak link of a capitalist economy,” writes Mervyn King in his new book.

As Governor of the Bank of England for a decade from 2003, having previously been a leading academic economist, Baron King of Lothbury has long been at the heart of the British policy-making establishment. Despite that, and belying his mild manners, The End of Alchemy is a fearlessly honest explanation of the 2007/08 financial collapse, providing disturbing insights into what sparked “the worst banking crisis the industrialized world has ever seen”.

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