Crash Proof 2.0: How to Profit From the Economic CollapseA fully updated follow-up to Peter Schiff's bestselling financial survival guide-Crash Proof, which described the economy as a house of cards on the verge of collapse, with over 80 pages of new material The economic and monetary disaster which seasoned prognosticator Peter Schiff predicted is no longer hypothetical-it is here today. And nobody understands what to do in this situation better than the man who saw it coming. For more than a decade, Schiff has not only observed the economy, but also helped his clients restructure their portfolios to reflect his outlook. What he sees today is a nation facing an economic storm brought on by growing federal, personal, and corporate debt; too little savings; and a declining dollar. Crash Proof 2.0 picks up right where the first edition-a bestselling book that predicted the current market mayhem-left off. This timely guide takes into account the dramatic economic shifts that are reshaping the world and provides you with the insights and information to navigate the dangerous terrain. Throughout the book, Schiff explains the factors that will affect your future financial stability and offers a specific three step plan to battle the current economic downturn.
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From inside the book
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... American financial system. Like horses running back into a burning barn, they dumped commodities and foreign stocks and poured funds into U.S. dollars and U.S. Treasury securities. Several factors explained the move: A credit crunch ...
... of the status quo and I overestimated the ability of the establishment to finally recognize the bubble after it burst. I ... Treasury debt could sink to all-time lows as the U.S. government added more than $1.5 trillion of new debt every ...
... Treasury bond, was purchased by a foreign central banker. But selling a bond doesn't make us richer; it creates a liability. Sure, we initially have cash in hand as a result of the sale, but it's money we are obligated to pay back with ...
... of the next few years.” Former Treasury Secretary Robert E. Rubin and former Federal Reserve Chairman Paul Volcker have reportedly expressed similar concerns about the dollar. Volcker was quoted in a November 1, 2006, New York Times ...
... U.S.financial assets, 1985–2006. America's unprecedented consumption and borrowing binge has put record amounts of ... Treasury and mortgage-backed securities, helping finance our growing deficits and keeping our housing market propped ...
Contents
What Uncle Sam the Mass Media and Wall Street | 33 |
Our Declining Currency | 63 |
The Federal Reserve Fallacy | 91 |
Stock Market Chaos | 129 |
The Coming | 159 |
Our Consumer | 199 |
Rethinking | 237 |
Gold Rush | 283 |
Stay Liquid | 317 |
Epilogue | 339 |
Books for Further Reading | 345 |
Index | 353 |