Money and Finance
- Richard Duncan Quotes
Another longer excerpt from The New Depression (taken from my Kindle highlights, so the excerpts aren’t necessarily the paragraphs I have put them in below, and there may be things in between that I didn’t highlight). I've been posting a lot of...
- Richard Duncan Quote
“$50 trillion of credit did more than make the United States prosperous; it fundamentally transformed the structure of its economy. It caused the focus of economic activity to shift from producing goods to providing services, and, finally, to speculation.”...
- Richard Duncan Quote
“In 1968, the ratio of credit to gold was 128 times and the ratio of credit to the money supply was 2.4 times. By 2007, those ratios had expanded to more than 4,000 times and 6.6 times, respectively. Notice, also, the extraordinary expansion of the...
- Richard Duncan Quote
“When the United States removed the gold backing from the dollar in 1968, the nature of money changed. The result was a proliferation of credit that not only transformed the size and structure of the U.S. economy but also brought about a transformation...
- Jeff Glor Interviews Richard Duncan (video)
Jeff Glor talks to Richard Duncan about, "The New Depression: The Breakdown of the Paper Money Economy Jeff Glor: What inspired you to write the book? Richard Duncan: I was inspired when I read Irving Fisher's "The Purchasing Power of Money" (1912)...
Money and Finance
Richard Duncan quote
“Total credit in the United States surpassed $1 trillion for the first time in 1964. Over the following 43 years, it increased 50 times to $50 trillion in 2007. That explosion of credit changed the world. ” –Richard Duncan, The New Depression
- Richard Duncan Quotes
Another longer excerpt from The New Depression (taken from my Kindle highlights, so the excerpts aren’t necessarily the paragraphs I have put them in below, and there may be things in between that I didn’t highlight). I've been posting a lot of...
- Richard Duncan Quote
“$50 trillion of credit did more than make the United States prosperous; it fundamentally transformed the structure of its economy. It caused the focus of economic activity to shift from producing goods to providing services, and, finally, to speculation.”...
- Richard Duncan Quote
“In 1968, the ratio of credit to gold was 128 times and the ratio of credit to the money supply was 2.4 times. By 2007, those ratios had expanded to more than 4,000 times and 6.6 times, respectively. Notice, also, the extraordinary expansion of the...
- Richard Duncan Quote
“When the United States removed the gold backing from the dollar in 1968, the nature of money changed. The result was a proliferation of credit that not only transformed the size and structure of the U.S. economy but also brought about a transformation...
- Jeff Glor Interviews Richard Duncan (video)
Jeff Glor talks to Richard Duncan about, "The New Depression: The Breakdown of the Paper Money Economy Jeff Glor: What inspired you to write the book? Richard Duncan: I was inspired when I read Irving Fisher's "The Purchasing Power of Money" (1912)...