The money revolution : how to finance the next American century
(Book)

Includes bibliographical references and index.

"Over the last century, wars, depressions, political ambition, regulatory mistakes, greed and geopolitical competition have entirely transformed the Monetary System of the United States -- they have transformed the very nature of Money itself. The Money Revolution highlights that the new economic environment we find ourselves in today presents us with previously unimaginable opportunities to grow and prosper, and persuades the American public and US policymakers that the United States can and must invest in the industries and technologies of the future on an unprecedented scale in order to ignite a technological revolution that would turbocharge economic growth, consolidate the country's geopolitical preeminence and vastly enhance human wellbeing, not only in the US, but all around the world. It explains why such a large-scale investment program is possible, how it could be structured and which industries should be targeted; demonstrates that this investment could be made at no cost to US taxpayers; and describes the extraordinary benefits that an investment program of this nature would be sure to deliver. The book is divided into three parts: Part 1, Money, describes the evolution of Money and Monetary Policy in the United States from the establishment of the Federal Reserve System in 1913 to the present. It also discusses the events that forced the US monetary system to evolve. These chapters provide a history of the Federal Reserve System and explain everything necessary to understand how the Fed conducts Monetary Policy in the 21st Century. They also demonstrate the colossal power the US central bank has at its disposal. Part 2, Credit, shows that as the nature of money changed, it brought about a transformation of the economic system, as well. It describes the astonishing proliferation of credit in the United States during the five decades since Dollars ceased to be backed by gold. It discusses the impact that very rapid credit growth has had on the US economy and shows that economic growth is now dependent on credit growth. It also demonstrates that there are effectively no longer any limits as to how much money the United States government can borrow. It concludes by showing that if credit fails to expand, the economy will collapse into a depression. Part 3, The Future, calls for the United States to carry out a multi-trillion-dollar investment program targeting the industries of the future over the next 10 years. It begins by showing that the current level of investment in the United States is dangerously inadequate. It then discusses how this investment program could be structured and the industries it should target. Next, it explains that an investment program of this size could be carried out at no cost to US taxpayers and details how that could be done"--,Provided by publisher.