American Monetary Association AMA 193 - The Paper Money Economy is Breaking Us Down with Richard Duncan, Part 2
Jason Hartman and Richard Duncan continue discussing what Richard thinks will happen if the government stops supporting the global bubble, how the government can get back in the black on the spreadsheets, and why today is unique in terms of economic history.
Richard Duncan is Chief Economist at Black Horse Asset Management, the author of The New Depression: The Breakdown of the Paper Money Economy and The Dollar Crisis: Causes, Consequences, Cures. His Macro Watch video series can help individuals to clearly understand how the financial system really works. Mr. Duncan previously held the position of economist for the World Bank and the International Monetary Fund.
Key Takeaways:
[1:00] The rules completely changed when we ditched the gold standard and went to a paper money economy
[10:35] The winners in our new, global economy
[13:16] How governmental policy is driving the global bubble
[16:15] Never in human history have we seen what happens when the economy becomes global and money is printed in this abundance
[21:33] How we can pull our nation out of debt
Website:
The New Depression: The Breakdown of the Paper Money Economy