Fri, 4 August 2017
AIPIS 196 - The New Depression: The Breakdown of the Paper Money Economy with Richard Duncan, Part 2
Part 2 of Jason’s interview with Richard Duncan includes information about the what Richard believes will happen if the government doesn’t continue to intervene in keeping the global bubble afloat, how the government can get back to the black and why we are at a unique time in 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.
[1:00] Once the US moved from a gold backed monetary system to paper money system the rules changed.
[10:35] Who has benefited most from a globally-based economy?
[13:16] The global bubble is inflated by government policy.
[16:15] The combination of printing money and globalization makes this a unique time in history.
[21:33] How Richard Duncan believes the US can pull itself out of debt.