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A “Deer In The Headlights” Policy Freeze?…

Posted August 4, 2011

The agreement reached to raise the US government debt ceiling may mark the beginning of the kind of “deer in the headlights” policy freeze described in the last chapter of

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The Ten Trillion Dollar Milestone

Posted July 18, 2011

A milestone on the road to economic ruin was reached last week. Total Foreign Exchange Reserves topped $10 trillion. That means central banks have created the equivalent of $10 trillion

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Helicopter Money

Posted June 30, 2011

A great deal can be learned about the government’s response to this crisis, as well as the mistaken policies that necessitated it, by analysing a speech delivered by Ben Bernanke

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The Corruption Of Capitalism, Preface to the …

Posted June 16, 2011

Preface to the 2011 Edition of The Corruption of Capitalism [Now available on Kindle and NOOK] From the early 1980s, debt-fuelled consumption in the United States drove global economic growth

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An Interview with Richard Duncan on China, Eu…

Posted June 1, 2011

The following interview was published in THE EDGE SINGAPORE on May 30, 2011 By ASSIF SHAMEEN Richard Duncan, author of the seminal The Dollar Crisis: Causes, Consequences, Cures, an international

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Credit Growth Drives Economic Growth, Until I…

Posted May 19, 2011

The single most important thing to understand about economics in the age of paper money is that credit growth drives economic growth. Before the breakdown of the Bretton Woods international

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China: Every Boom Busts

Posted May 3, 2011

Since the beginning of the Industrial Revolution, every economic boom has been followed by an economic bust. The bigger the boom, the bigger the bust. Over the past 20 years,

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Birth Of The Debt Culture

Posted April 26, 2011

Once US dollars ceased to be convertible into gold at the beginning of the 1970s, there was no longer any constraint on the amount of dollar-denominated debt that could be

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A New Economic Paradigm

Posted April 19, 2011

Since the 1980s, a culture of debt has arisen in the United States. That change was the consequence of a misguided trade policy that gave rise to a current account

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The Loose Cannon Credit Crisis

Posted April 9, 2011

Starting in the 1970s, international credit flows began to destabilize the global economy. One country after another was plunged into crisis as dollar-denominated credit from abroad produced short-term booms followed

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