| Crash Proof 2.0: How to Profit From the Economic Collapse |  | Authors: Peter D. Schiff, John Downes
Publisher: Wiley
List Price: $27.95
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Seller: treebeardbooks
Rating:  85 reviews
Sales Rank: 3,809
Media: Hardcover
Edition: 2
Pages: 364
Number Of Items: 1
Shipping Weight (lbs): 1.2
Dimensions (in): 9.2 x 6.5 x 1.3
ISBN: 047047453X
Dewey Decimal Number: 332.60973
EAN: 9780470474532
ASIN: 047047453X
Publication Date: September 22, 2009
Availability: Usually ships in 1-2 business days
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Product Description
A fully updated follow-up to Peter Schiff's bestselling financial survival guide-Crash Proof, which described the U.S. 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 Wall Street 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 U.S. 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 America 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. - Discusses the measures you can take to protect yourself-as well as profit-during these difficult times
- Offers an insightful examination of the structural weaknesses underlying the economic meltdown
- Outlines a plan that will allow you to preserve wealth and protect the purchasing power of your savings
- Other titles by Schiff: Crash Proof and The Little Book of Bull Moves in Bear Markets
Filled with in-depth insights and expert advice, Crash Proof 2.0 will help you survive and thrive during the coming years of economic uncertainty.
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| Customer Reviews:
Showing reviews 1-5 of 85
 this book is horrible, don't buy it, you'll regret it July 11, 2010
Ron
1 out of 24 found this review helpful
it's a bunch of fluff & nonsense with maybe a LITTLE truth
you'll be throwing money away buying this
 an educational book June 28, 2010
Cindy L. Gusic (benbrook, tx)
Every person who is interested in profiting is a rough time should read this book. Mr. Schiff goes into much detail on his views of the economy and what not.
A true state of the union, and a roadmap from here June 8, 2010
Luke Williams (San Diego, CA)
1 out of 1 found this review helpful
If I'm going to listen to someone talk about the economy, I'd prefer to listen to someone who's been right in the past. No one has been more right than Peter Schiff. Take a look on YouTube to get an overview of his oracle-like predictions in the past several years.
To sum up his investment advice, he recommends foreign stocks, gold and silver, and stocks of mining companies, all to protect the investor against the chronic devaluation of the dollar due to money printing - currently branded as "stimulus."
To sum up his view of the U.S. economy, a quote: "When you are broke, the only true antidote is to be more productive and save your money. So it is with individuals; so it is with nations. But since this involves less borrowing and spending and thus some long-overdue self-sacrifice, our leaders want no part of it."
Crash Proof 2.0 explains the full state of our economy. It might be too heavy of a read for some; I'd recommend it strongly to those who have resources to save and invest, and also to those who are interested in what's really happening with the economy.
Buy It he know all and more May 26, 2010
europa (CA,USA)
Peter has been predicting economic forecast dead on since 2002 you can youtube to see all his publishing's
and he is running for Senate in CT
Cash/Bonds, Foreign Investments/bonds, Gold, and commodities May 24, 2010
Golden Lion (North Ogden, Ut United States)
2 out of 2 found this review helpful
Is it smart to be investing in Foreign Stock and bonds?
1. Stocks outperform real estate long-term
2. Real-estate seems to outperform stocks, short-term
3. Possible scenario, US Stock Prices will fall, bond yields will rise, bond prices will fall, gold prices will rise, as the dollar falls. Gold moves inversely with Dollar devaluation. Bond prices move inversely with yields. A weaker dollar means higher bond yields. If the economy slows, gold prices will fall, bond yields will fall, bond price will increase, the dollar will remain weak, and stock prices will fall.
4. If you own your home, Schiff believes borrowing against equity and investing in stable foreign stocks with yields of 8% make sense. You borrow at 6% and earn 8%, a difference of 2% profit. This assumes you don't need the mortgage. This is called Arbitrage. It does not work forever, because as more people identify the profit potential, more money buys the opportunity for profit, and the yield drops, as demand increases, and more buyers consume the stock.
Schiff perceives the dollar devaluation and home depreciation as the greater evil, however, I don't believe in making money from other peoples money. You may say that home equity money is your money, but that is equivalent to saying you can earn industrial productivity money from nonindustrial sources, financial derivatives instrument, a risk oriented money proposal with a winner and loser, a margin call you will have to pay. Suppose, you borrow on equity from your home and invest the money into a Canadian commodity company that yields 8%. At first, the plan seems to work and the commodity demand remains strong and earnings payouts look good. Suppose, a catastrophic event disrupts production of the commodity; the company faces large losses; the yield value drops and the stock price collapses; your risk exposure is hammering. You now have a mortgage payment plus defaulting home equity loan payment. Your risk has caused a liability crisis in the pursuit to capture a small earnings cash flow. The risk may not be worth the reward.
5. Dollar devaluation causes larger investment of money into foreign assets
6. Exchange rates do matter
7. Falling dollar boost gains if you already have foreign stocks and investments.
8. Buying gold or other commodities is a hedge against exchange rate risks.
9. Gold has not proven to be a long-term holding
10. Investing in foreign stocks and bonds may be a way to dampen effects of currency swings.
11. Indexes to watch: Vanguard Total International Stock Index Fund, International Equity Index Fund, and the Spartan International Equity Index Fund.
Hedge Funds use Gold as a defensive asset
1. Gold price rises as a value for safe haven. Platinum and Palladium prices rise as a function of increased demand in industrial applications. Gold is considered a defensive asset. Investment accounts for 90% of the demand for gold. Demand for gold holdings increased to 30 million ounces. Central banks own large reserves of Gold. Hedge funds hold large amounts of Gold.
2. Low US interest rates, US dollar weakness, and long-term inflationary pressures make gold acquisition favorable.
3. The dollar's strength depends on Chinese and Japanese foreign investment US dollar denominated currencies. Massive fiscal and monetary policy has weakened the dollar. Gold price rise with inflationary pressures.
4. Debt deflation occurs when the money supply starts to shrink
5. Hyperinflation results in a dramatic increase in the velocity of money due to loss of confidence, not changes in the money supply.
6. Increases in the velocity of money have the same affect as increases in money supply
7. Hyperinflation can be preceded by periods of deflation.
8. High levels of government debt, severe cases of deflation can cause loss of confidence in the nation's currency, shrinking economy, make government debt seem unsustainable. Deflation slows the speed of money. The public hoards cash or short-term securities. The slowing speed of money causes the fed to create huge quantities of cash to prevent prices and economy from collapsing. Most of the money does not reach the real economy. Deflation leads to a loss of confidence.
9. In 2008, behind the scenes, banks forced Hedge Funds to sale gold to cover their margin calls, moving gold from $1,000 an ounce to $700
10. Gold was used as a defensive asset to protect against risk. Hedge funds pulled back on gold commodity trades and unwinded their positions further depressing gold prices in 2008.
11. In 2008, rising dollar prices and lowering oil prices helped reassure investors that inflation and currency devaluation were not a big risk.
12. Gold acts in the exact opposite position of the dollar values.
Should I invest in land?
1. I like land because it is an asset that protect value
2. Land has utility and can be resold and other commodities bought
3. Land improvement and tax costs are not unreasonable, if the land has not been heavily marketed.
What foreign investments are interesting?
Look for foreign stocks in Australia, New Zealand, South Africa, Scandinavia, Hong Kong, Singapore, and Japan. A smaller portion of stock in South Korea and Taiwan.
You can purchase foreign currency cds; no load foreign money markets; (short term) government debt in foreign currency; or put your money in a private bank account in Switzerland, Cayman Islands, Liechtenstein, Panama, Austria, or Luxembourg.
What are the fears?
1. People, who stay in cash, and think they have done the right thing, may have stayed to long.
2. Buying by US investors will drive the price of foreign stock up. Look for stock with liquidity that can be retained for dollar devaluation emergencies.
3. In 2008, when foreign stocks were dropping, everyone was running away from assets and from risk and getting into the safety of cash and US treasuries. Debt reduction was big and companies were raising cash to refund redemption and meet margin calls. People were focused on numerical value of stocks. People stampeded out of depreciating currency and equivalent and into dividend yielding assets.
4. Schiff does not see a global depression. Instead, he sees more foreign countries decoupling themselves from US debt and trade imbalance entanglement.
What I would like?
1. I would like to discuss with Peter Schiff his book on a blog.
2. I would like a free apple iPad
3. I would like to receive the answers to my 16 questions.
Is Canada a good place to look for foreign investment?
1. Canada is the world largest zinc (744,037 tons) producer and second largest nickel and lead (77,140 tons) producer.
2. Companies like Noranda, Inco, Falconbridge, Teck Cominco, Boliden, and Hudson Bay Mining and Smelting dominate the nickel, inc, lead, and gold production in Canada.
3. Noranda is the world leading zinc and nickel producer
Questions I have:
1. How do the following gold coins compare: Kurggerand, Maple leaf, American Eagle, Australian Nugget/Kangeroo? Should I have a mix of coins in my profolio?
2. What role does the IMF play in its $39 billion line of credit in Europe?
3. We were told by media that Greeces debt problems would hurt large banks. Did banks bet positive on Greeces debt?
4. Why is lead an important industrial commodity?
5. Is a global economic depression unlikely? Will the dollar continue to weaken?
6. Is China consuming more Steele in the form of refrigerators, cars, and stoves?
7. What zinc companies pay a dividend? Is zinc produced mostly in Canada?
8. What Canadian nickel stocks produce a dividend?
9. How can I invest in a property trust? How do I select a good property trust? What are the dividend yields on Canadian property trusts?
10. What are Canadian oil and gas stocks that pay a dividend? How can these stocks be purchased?
11. What are coal stocks that pay a dividend?
12. How will JP Morgan Chase, Bank of America, Citigroup, Goldman Sachs, and Morgan Stanley be impacted by their investments in the Euro?
13. How will the fed stop hedge funds from betting short on the Euro?
14. How much damage with Greece, Spain, and Portugal defaults have on the derivatives and CDS markets?
15. Why is the $1,140 Trillion derivatives market nontransparent and nonregulated?
16. Who is becoming richer?
Why are we so clueless about the bond market?
Showing reviews 1-5 of 85
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