I'm plodding through Mr Schlichter's book at the moment. A fascinating but chilling read. If he is right, and I suspect he is, we're not just witnessing and experiencing the meltdown of the Euro, but of the entire global monetary system. I've not reached the chapter on how we should protect ourselves, but I suspect it will be on the lines of "buy gold, buy farmland and buy some guns".
I bought a copy recently. It's a hard-ish read for the non-economist such as I, but it explains simply and with admirable clarity what money actually is and how it works. I came away considerably enlightened and very impressed with the author's good sense.
I won't spoil it for you by telling you how the plot turns out, but I can reveal that despite the love scene on the beach in Chapter 928, Rodney and Celia do not live happily ever after.
For information on consequences, I then read Adam Fergusson's "When Money Dies", which narrates the course of the Weimar Republic's hyperinflation. He relates that the effect upon savings and pensions was to obliterate them by reducing their purchasing power to nil. I expect the purchasing power of my pension to be reduced to two or three pence per annum
when it happens.
Finally, I read Jens O Parsson's "Dying of Money", which has been praised recently by some elements of the blogosphere. I thought it uneven and, far from seeing the wood for the trees, lost deep in trackless forest. However, it gives a good insight into modern economic nostrums: print money to drive out inflation (ho ho); get those interest rates down; promote consumer spending; make grants to promote activity that might rescue the economy (the UK's intended recapitulation of Fannie Mae, for example); use redistributive taxation to rectify perceived social imbalances; and so on ...
After that one, I intend to stick to books by the Austrian school from now on.