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Synopsis

In this updated, second edition of the highly acclaimedinternational best seller, The Dollar Crisis: Causes,Consequences, Cures, Richard Duncan describes the flaws in theinternational monetary system that have destabilized the globaleconomy and that may soon culminate in a deflation-inducedworldwide economic slump.

The Dollar Crisis is divided into five parts:

Part One describes how the US trade deficits, which nowexceed US$1 million a minute, have destabilized the global economyby creating a worldwide credit bubble.

Part Two explains why these giant deficits cannot persistand why a US recession and a collapse in the value of the Dollarare unavoidable.

Part Three analyzes the extraordinarily harmful impactthat the US recession and the collapse of the Dollar will have onthe rest of the world.

Part Four offers original recommendations that, ifimplemented, would help mitigate the damage of the coming worldwidedownturn and put in place the foundations for balanced andsustainable economic growth in the decades ahead.

Part Five, which has been newly added to the secondedition, describes the extraordinary evolution of this crisis sincethe first edition was completed in September 2002. It alsoconsiders how the Dollar Crisis is likely to unfold over the yearsimmediately ahead, the likely policy response to the crisis, andwhy that response cannot succeed.

The Dollar Standard is inherently flawed and increasinglyunstable. Its collapse will be the most important economic event ofthe 21st Century.

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