The Dollar Crisis (PDF)

In this updated, second edition of the highly acclaimed
international best seller, The Dollar Crisis: Causes,
Consequences, Cures, Richard Duncan describes the flaws in the
international monetary system that have destabilized the global
economy and that may soon culminate in a deflation-induced
worldwide economic slump.

The Dollar Crisis is divided into five parts:

Part One describes how the US trade deficits, which now
exceed US$1 million a minute, have destabilized the global economy
by creating a worldwide credit bubble.

Part Two explains why these giant deficits cannot persist
and why a US recession and a collapse in the value of the Dollar
are unavoidable.

Part Three analyzes the extraordinarily harmful impact
that the US recession and the collapse of the Dollar will have on
the rest of the world.

Part Four offers original recommendations that, if
implemented, would help mitigate the damage of the coming worldwide
downturn and put in place the foundations for balanced and
sustainable economic growth in the decades ahead.

Part Five, which has been newly added to the second
edition, describes the extraordinary evolution of this crisis since
the first edition was completed in September 2002. It also
considers how the Dollar Crisis is likely to unfold over the years
immediately ahead, the likely policy response to the crisis, and
why that response cannot succeed.

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