He predicts similar crashes for bonds, real estate, collectibles and metals. In its 500 pages he carefully and clearly explains the Elliot Wave theory and its implications for our financial, political and social future. At the Crest of the Tidal Wave has been hailed by some of the most respected investors and money managers in America. His latest book is The Wave Principle of Human Social Behavior and the New Science of Socionomics, a fascinating exploration of the science behind man's psychological patterns. A Yale graduate, Prechter is president of Elliot Wave International, a forecasting firm headquartered in Gainesville, Georgia.
Monopoly money is the money over which some government has a monopoly.
It is the currency of the realm only because the state makes it illegal to use any other type. The only sound monetary system is a voluntary one. The free market always chooses the best possible form, or forms, of money.