American Monetary Association AMA 192 - The Paper Money Economy is Breaking Us Down with Richard Duncan, Part 1
Jason Hartman welcomes Richard Duncan for the first of a two-part conversation about what is driving the economy, and which mistakes could catapult the US into a recession.
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:
[1:01] Richard Duncan has a unique, insider’s view of world economics and FIAT money.
[6:06] In the US, when credit grows less than 2% the US goes into recession.
[11:17] Creditism is the new Capitalism.
[13:37] Looking back at the policies which saved the world economy in 2008.
[19:35] It’s a very sensitive moment in the economy as the Fed is considering reversing quantitative easing.
[23:27] Globalization has changed the way the economic game is played.
Website:
The New Depression: The Breakdown of the Paper Money Economy