The New Depression · the Breakdown of the Paper Money Economy by Duncan, Richard -- Read -- Imperial Library of Trantor

Index

Preface Chapter 1: How Credit Slipped Its Leash

Opening Pandora’s Box Constraints on the Fed and on Paper Money Creation Fractional Reserve Banking Run Amok Fractional Reserve Banking Commercial Banks The Broader Credit Market: Too Many Lenders, Not Enough Reserves Credit without Reserves The Flow of Funds The Rest of the World Notes

Chapter 2: The Global Money Glut

The Financial Account How It Works What Percentage of Total Foreign Exchange Reserves Are Dollars? What to Do with So Many Dollars? What about the Remaining $2.8 Trillion? Debunking the Global Savings Glut Theory Will China Dump Its Dollars? Notes

Chapter 3: Creditopia

Who Borrowed the Money? Impact on the Economy Net Worth Profits Tax Revenue Different, Not Just More Impact on Capital Conclusion Note

Chapter 4: The Quantity Theory of Credit

The Quantity Theory of Money The Rise and Fall of Monetarism The Quantity Theory of Credit Credit and Inflation Conclusion Notes

Chapter 5: The Policy Response: Perpetuating the Boom

The Credit Cycle How Have They Done so Far? Monetary Omnipotence and the Limits Thereof The Balance Sheet of the Federal Reserve Quantitative Easing: Round One What Did QE1 Accomplish? Quantitative Easing: Round Two Monetizing the Debt The Role of the Trade Deficit Diminishing Returns The Other Money Makers Notes

Chapter 6: Where Are We Now?

How Bad so Far? Credit Growth Drove Economic Growth So, Where Does that Leave Us? Why Can’t TCMD Grow? The Banking Industry: Why Still Too Big to Fail? Global Imbalances: Still Unresolved Vision and Leadership Are Still Lacking Notes

Chapter 7: How It Plays Out

The Business Cycle Debt: Public and Private 2011: The Starting Point 2012: Expect QE3 Impact on Asset Prices 2013–2014: Three Scenarios Impact on Asset Prices Conclusion Notes

Chapter 8: Disaster Scenarios

The Last Great Depression And This Time? Banking Crisis Protectionism Geopolitical Consequences Conclusion Note

Chapter 9: The Policy Options

Capitalism and the Laissez-Faire Method The State of Government Finances The Government’s Options American Solar Conclusion Notes

Chapter 10: Fire and Ice, Inflation and Deflation

Fire Ice Fisher’s Theory of Debt-Deflation Winners and Losers Ice Storm Fire Storm Wealth Preservation through Diversification Other Observations Concerning Asset Prices in the Age of Paper Money Protectionism and Inflation Consequences of Regulating Derivatives Conclusion Notes

Conclusion About the Author Index