Product Description
The dollar is in trouble. Its value on foreign exchange markets has been falling for the past six years, and now its gradual decline is about to become a rout. This spells big trouble for the American economybut potential riches for smart investors. In The Collapse of the Dollar and How to Profit from It, financial gurus James Turk and John Rubino show how the dollar arrived at this precipice, why it will continue to plunge, and how you can profit from the resulting financial crisis.
The United States today is the worlds biggest debtor nation. To finance this mountain of debt, were flooding the world with dollars. The resulting oversupply of dollars will cause its value to decline until it is displaced as the worlds dominant currency. Precious metals will soar in value, and gold will reclaim its monetary role at the center of the global financial system.
James Turk, a leading gold authority and the founder of GoldMoney.com, and John Rubino, editor of the popular Web site DollarCollapse.com offer strategies for investing in gold coins, gold stocks, gold-based digital currencies, and other hard assets to create a profitable portfolio.
The Collapse of the Dollar and How to Profit from It is a must read for every citizen and investor.
Rate Points :4.0
Binding :Paperback
Label :Broadway Business
Manufacturer :Broadway Business
ProductGroup :Book
Studio :Broadway Business
Publisher :Broadway Business
EAN :9780385512244
Price :$14.95USD
Lowest Price :$8.52USD
Customer ReviewsBail outs may lead to Collapse of the Dollar... Buy Gold/Silver Now!!!
Rating Point :5 Helpful Point :3
If you understand the fiscal situation this country is in, the place the elected & non-elected officials wanna take it, and what will happen after that has taken place, this book is dead on.
Monetary policy in this country(USA) has been flawed since the inception of the federal reserve system in 1913. The Monetarist economists(Widely known as Anna J Schwartz & Milton Friedman) blame the feds lack of action as the cause of the great depression. They believe if the fed had intervened and created a little more inflation at the time the deflation was occuring(aka Deflationary Depression), the Great depression would have lasted only 1-5 years. Ben Bernanke (current FED Chairperson) believes this theory, thats why hes currently inflating that debt away through bail-outs.
On the other hand, Hard money Economists (aka Ludwig von Mises Austrian school of economics) blames the fed completely for the Great Depression. Since their inception in 1913 the fed has fueled massive credit bubbles and the roaring 20s were no different. From 1913-1919 the fed increased the money supply by around 50% leading to the credit induced boom known as the roaring 1920s. When they finally called in all the inflationary credit they had put out, it killed the economy. Instead of letting the money stay out, they kept deflating the bubble which fueled the longest economic downturn in US history.
Today our economists and financial leaders will make sure not to repeat that mistake again. The system will not be allowed to go broke, almost everyone will get a huge bailout, and when they do, the countries who hold our short term US debt will begin dumping it, due to its losing value thanks to the bailouts.
If you believe the dollar is gonna take a hit over the next 5-10 years, then dedicating some of your portfolio (10-25%) to precious metals and watching what happens is going to be very exciting. If you paid attention to the 60s & 70s, you would notice some odd but scary similarities, huge needless wars followed by inflationary downturns in the economy. The 1970s bad economy was the price for the 1960s vietnam war. Remember, Nixon took us off the Gold Standard in 1971 when gold was only $35 an Ounce(today its $900). During the 70s the DOW Jones only gained 10 points but gold jumped almost 24 times, silver more. This time its gonna be a lot worse. I think physical silver is the best deal, as long as you can find some quality physical without a high retail purchase fee.
James turk is a pro and this book ranks high on the list of profit from the coming gloom & doom books. If you want to implement a section of your portfolio into precious metals this book is a great way to learn some very helpful tactics. He writes about what types of Precious Metals investments you can buy: Physcical(keep@home&vault), Paper(futures/options), Mining stocks, Numismatic, but doesnt really mention his world-renowned service called GOLDMONEY.com located in British Jersey,UK. I personally have an account with GoldMoney.com and I feel its a one of a kind service. It keeps part of your wealth outside the US, which is very important. My say is Pick up the book and Partake in the Precious Metals bull market that will last for the next 5-10 years minimum, and create some wealth during the bad times were gonna go through :)
I also recommend the book CRASHPROOF by Peter Schiff (he recommends GoldMoney.com)
We should know this for a long time
Rating Point :5 Helpful Point :0
This book tells you what will happen, just a matter of when. The one- Messiah will repeat history of FDR, welcome to great depression, this book teaches us how to capitalize in this once in a lifetime/century event.
The book does not disclose the root of housing bubbles (B Frank al et). But this book tells Silver is a better vehicle than Gold in a short run.
It is too late to short financial stocks, good time to long precious metals like Gold and Silver.
Good intro to investing in gold
Rating Point :3 Helpful Point :0
Im a beginner at gold investing, but this book made a strong case for why I should. Better yet, it follows up with real advice on how to do it. Its a bit dated now (it predicts a collaspe of fiat currency years ago, for exampmle) but you can look past that and still get real value out of it.
I have read better books on the subject.
Rating Point :2 Helpful Point :1
The book is just rehashing ideas that have been around since the late
1980s. That part is alright because if you havent read the books from the 80s & 90s then the information in this book is new. My MAJOR complaint about this book is that one of the authors, Jame Turk, uses
a whole chapter to plug HIS OWN gold bank. In my opinion that is a
conflict of interest.
Collapse against What?
Rating Point :3 Helpful Point :0
Its easy to say that the "dollar is going to collapse" but against what currency, the euro, the Russian ruble? Hes got the causes right but the effects are a little off base. Gold could be preferable as a reserve currency while all currencies are getting trashed to hell, but in this environment with all developed economies racking up enormous deficits to battle their economic woes, the dollar will not lose its status as the reserve currency of the world.
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