The Money Revolution

Learn how the United States can stop and reverse its relative economic decline in this fascinating analysis of American Money, Credit and Capital

In The Money Revolution: How to Finance the Next American Century, economist and bestselling author Richard Duncan lays out a farsighted strategy to maximize the United States unmatched financial and technological potential.

In compelling fashion, the author shows that the United States can and should invest in the industries and technologies of the future on an unprecedented scale in order to ignite a new technological revolution that would cement the country's geopolitical preeminence, greatly enhance human wellbeing, and create unimaginable wealth. In this book, you will find:

• An important new history of the Federal Reserve that details the transformation of the country's central bank from the passive lender of last resort created by its founders in 1913 into the world's most powerful economic institution today.

• A fascinating discussion of the evolution of money and monetary policy in the United States over the past century.

• An examination of the role that credit has played in generating economic growth, especially since Dollars ceased to be backed by Gold five decades ago.

• A detailed description of the country's capital structure and its dangerous deficiencies.

• An urgent call-to-action for the United States to begin a multi-trillion-dollar investment program targeting industries of the future.

The Money Revolution: How to Finance the Next American Century is a page-turning read ideal for anyone interested in the future of the United States. Its gripping thesis offers anyone with a personal or professional interest in America's economy, financial system, or geopolitical position in the world an engrossing intellectual journey.

Auteur

RICHARD DUNCAN has served as Global Head of Investment Strategy at ABN AMRO Asset Management in London, worked as a financial sector specialist for the World Bank in Washington, D.C., and headed equity research departments for James Capel Securities and Salomon Brothers in Bangkok, Thailand. He is now the publisher of Macro Watch, a video-newsletter that analyzes the forces driving the global economy in the 21st Century.

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Praise for
The Money Revolution Richard Duncan's newest book, The Money Revolution, is another 'must-read' for proactive investors who want to 'peer over the horizon.' The good news isRichard offers an optimistic view 'over the horizon.' The bad news is the optimistic view is only for proactive investors. When people ask me, 'What is your secret to getting rich and staying rich?' I simply say, 'I seek out and learn from great teachers.' Richard Duncan, most certainly, is one of those great teachers. Robert Kiyosaki, investor, educator, entrepreneur and author of the international bestseller Rich Dad Poor Dad The repeated failure of central banks to meet their inflation targets despite astronomical quantitative easing proved Richard Duncan's key points that investment in the US is dangerously inadequate and financing is not the constraint on investment. Duncan then argues that the constraint is in our minds, that in the midst of globalization we are operating like a fish in a fishbowl dropped into the ocean. This book tells us how to navigate in the boundless ocean we now find ourselves in. Richard Koo, Chief Economist, Nomura Research Institute Richard Duncan's new book is a clear tutorial about the US monetary system and a timely lens to view policy decisions at a critical juncture in US history. The Chinese are well out of the blocks with a plan to focus on industries of the future they are determined to dominate. For the US, as Richard states, it is this generation's 'Sputnik moment.' His book presents a well-reasoned plan for the future relying on the Fed's balance sheet to make public/private investments in industries of the future where the US can and should dominate. Further debate about the reasonableness of accumulating more credit is no longer the issue as Duncan explains. The US is in an economic crisis NOW. But, the US also has a unique monetary position from which to find a path forward. We have faced similar dilemma and succeeded. Duncan's book is well-timed and worth-reading. Michael Avery, retired President and fund manager, Waddell & Reed Financial, Inc.; Fund Director, Coalescence Global China Opportunities Fund

Contenu
Introduction 3

Part One: Money 6

Chapter 1: The Power of The Fed 8

Chapter 2: 1914 to 1920: World War I 33

Chapter 3: 1920 to 1930: After The War 46

Chapter 4: 1930 to 1941: The Great Depression 56

Chapter 5: 1941 to 1945: World War II 74

Chapter 6: 1945 to 1971: The Bretton Woods Era 94

Chapter 7: 1971 to 2007: After Gold 111

Part Two: Credit 124

Chapter 8: Credit Creation By The Banking System 126

Chapter 9: Credit Creation By The Financial Sector 156

Chapter 10: Credit Creation By Foreign Central Banks 184

Chapter 11: Creditism 210

Chapter 12: 2007 to 2016: Crisis and Response 240

Chapter 13: Creditism Between The Crises 279

Chapter 14: Pandemic 300

Chapter 15: Inflation 320

Part Three: The Future 348

Chapter 16: America Must Invest 350

Chapter 17: Inadequate Investment 357

Chapter 18: R&D - The Future Depends On It 380

Chapter 19: The United States Can Afford To Invest 408

Chapter 20: Monetize The Debt 430

Chapter 21: An Investment Revolution 458

Conclusion 474