[Read] ➬ Crash Proof 2.0: How to Profit From the Economic Collapse By Peter D. Schiff – Saudionline.co.uk

Crash Proof 2.0: How to Profit From the Economic Collapse txt Crash Proof 2.0: How to Profit From the Economic Collapse, text ebook Crash Proof 2.0: How to Profit From the Economic Collapse, adobe reader Crash Proof 2.0: How to Profit From the Economic Collapse, chapter 2 Crash Proof 2.0: How to Profit From the Economic Collapse, Crash Proof 2.0: How to Profit From the Economic Collapse b2a611 A 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 OverPages 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 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 ProofPicks 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 DownturnDiscusses 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 Filled With In Depth Insights And Expert Advice, Crash ProofWill Help You Survive And Thrive During The Coming Years Of Economic Uncertainty


About the Author: Peter D. Schiff

Peter David Schiff is an American investment broker, author, financial commentator, and was a candidate in the 2010 Republican primary for the United States Senate seat from Connecticut.Schiff is CEO and chief global strategist of Euro Pacific Capital Inc., a broker dealer based in Westport, Connecticut and CEO of Euro Pacific Precious Metals, LLC, a gold and silver dealer based in New York City.



10 thoughts on “Crash Proof 2.0: How to Profit From the Economic Collapse

  1. says:

    This book offers a mixture of sound analysis and terrible misinformation, so much that it s hard to know how to begin a review Schiff is head of a brokerage called Euro Pacific Capital and an advisor to Ron Paul The first edition of this book was written in 2006, and the original text remains in the 2.0 version, with an update tacked on to each chapter in 2009 When painting with broad strokes about economic forecasting, he has an impressive track record On the details he can be abysmal Schiff views government as a dark force intent on destroying business and confiscating wealth In his mind there seems to be no valid role for the public sector There is little distinction between Nazi Germany and the present United States in this book.He mistakenly views manufacturing as the only valuable enterprise, railing against the US for becoming a service economy He seems to be unaware that this is a natural consequence of technology, and has apparently never considered that perpetual economic growth depends on perpetual demand for goods see this, for example.Schiff also errs in his understanding of the bubble He has nothing but vitriol for the United States, and nothing but praise for foreign markets, including the Euro and they seem to be doing great right now The fact is that housing speculation increased globally , and although it s hard to know about China for lack of data, many signs point to it being no exception This was a credit bubble, not a housing bubble And why was it a credit bubble Because Uncle Sam forced the ENTIRE WORLD to issue and riskier credit Not quite It was self interest run wild, simply put, because why isn t it in your interest to enslave a fool with bad debt if you can get away with fraud and pass off the losses Schiff doesn t understand that the same market dogma he cherishes is exactly what led to the corruption of law that allowed this mess to happen see this And don t equate greed with enterprise, because they are entirely different.Schiff again makes the mistake of seeing only one side of the market coin, misunderstanding that in exchange for a culture that bombards consumers with marketing to stimulate demand, you also get a culture that removes judgment And nothing says bad judgment like the housing debacle caused by speculation Yet for all the disdain he has for those speculators, he turns around and tells you it s a great idea to borrow against your house and stash the cash in foreign stocks that pay dividends, because then the interest will pay your rent, and when the dollar collapses you ll be rich because that debt will be devalued Buyer beware.I could go on, but if you re still reading you get the point I agree that there is a serious mess to reckon with One expert aptly described it as follows When I am in front of a crowd speaking about this, I frequently liken the problem to a bottle of wine I like to take a bottle of wine out and put it in front of them, saying, We re going to have this much pain and there is not anything we can do about it But we can choose to take it all at once that s probably a depression or we can turn the bottle on its side and take only a little bit at the beginning, and then as we grow over time, we can take Get your house in order, because this ride ain t over Schiff makes a strong case for the decline of the dollar, but I have no doubt you can find something better than his book, maybe even among the other books he recommends at the end of Crash Proof.


  2. says:

    Peter Schiff is a fascinating guy I ve seen pictures of his father, who according to some of my friends on Facebox, was put in prison for refusing to pay taxes Irwin Schiff, was is his name, apparently Personally, I ve never understood how or if the anti tax crowd actually expects a refusal of payment to stop the IRS from putting them in a cage.Anyway, Schiff wrote Crash Proof just before the stock market crash and recession of 2008 In it, he essentially gives a step by step breakdown of how the dollar is likely to collapse Schiff doesn t put on a turban, examine his star charts, or channel any spirits it genuinely seems like he just knows his shit Six months after the publication of Crash Proof, his predictions began happening Crash Proof 2.0 is Schiff s attempt to update the book for the post housing market crowd In it, you ll find advice about the investments you should be making to protect yourself from a U.S economy left in shambles by the failures of centralized economic planning If markets interest you at all, you should probably read this book.


  3. says:

    If you have any money, at all, you should read this book The sooner the better If you don t have any money you should also read this book.There are a few reasons reading Crash Proof might not appeal to you Peter Schiff is a somewhat controversial name in the investing world Peter Schiff is a libertarian You never read non fiction You never read investing books You never read business or economics books You don t have any money right now You re an optimist Etc.All of those reasons are valid and understandable, but still, it will be well worth your time to read this book.


  4. says:

    Peter Schiff is a fascinating individual I first heard Schiff when he appeared on Joe Rogan and what he said I had been saying for years He s not afraid to stir the pot against the mainstream media and the s of other advisors However, this book looks like he threw it together and hoped it would be a best seller Too much fluff Repeats concepts over and over Takes too much time to to get to the financial advice His thirst for citation and research is lazy, borderline irresponsible Appears to struggle finding his target audience, white collar or blue collar Laymen or academic With that said, let s all hope for a recession and depression so the economy can heal and the dollar can regain its value The ever increasing bubbles were blowing are eventually going to pop and they re going to harm families in America anyway look out for the automobile industry


  5. says:

    This book is essentially the same as the original Crash Proof, but has 2009 updates at the end of every chapter It s really a see, I told you so kind of book Schiff predicted the housing nightmare back in 2006 He was right When the so called experts say that nobody saw the crash coming, they are lying Schiff explains the hows and whys in this book Everyone who appreciates their money should read it.If you thought the housing bust was bad, you ain t see nothing yet Now is the time to prepare.


  6. says:

    While the author spends a good deal of time talking his own book, there are still valuable lessons to be learned from his view of economics It s a different way of approaching markets and wealth, but in some regards is worth considering even if one doesn t fully buy into the rhetoric of an impending or not so near future collapse of the dollar.


  7. says:

    Crash Proof 2.0 How to Profit from the Economic Collapse is a great elaboration of what Peter Schiff said leading up to and following the financial crisis of 2008 09 Crash Proof 2.0 contains the entire original Crash Proof book with 2009 updates at the end of each chapter This allows the reader to see what Schiff originally wrote and wrote he refers to in his 2009 updates Though this book is now dated, the advice Schiff gives is still generally relevant He has a long range outlook and advises readers to focus on liquidity in foreign currencies, gold exposure, and conservative, high yielding foreign equities Schiff s brand of value investing makes a ton of sense in today s financial environment Crash Proof 2.0 begins with Schiff s analysis of the current as of 2009 financial situation in the United States He has separate chapters devoted to the housing bubble, the Fed, the dollar, the stock market, the lack of savings in the U.S., and consumer and government debt The excessive government and consumer debt, aided by extremely accommodative Fed policy, has created a situation in which inflation is likely the only way to avoid default This puts the dollar at serious risk of massive devaluation, a devaluation it has avoided to this point due to the dollar s reserve currency status Fed policy has also discouraged saving, leading to a lack of capital to finance investments in productive capacity This perfect storm of factors may set the table for a financial calamity the likes of which not seen since the Great Depression Hyperinflation is not out of the realm of possibility as foreigners shift their focus from saving and lending to consuming and many of the dollars abroad finally come home Also, with the Fed likely facing no alternative other than to monetize government obligations, the long term prospects for the U.S dollar are bleak The U.S will need to severely cut back on consumption, causing significant short term pain as the economy slowly returns to health Despite the small in comparison to the downturn that is to come 2008 09 recession, the housing and stock markets are still bubbles What Schiff writes, specifically about housing, began to come true in 2008, but government intervention delayed much of the pain and simply kicked the can down the road.Peter Schiff is always entertaining Though I do not necessarily agree with every single thing he writes and says, I believe he is generally right The U.S government cannot keep printing money without eventually destroying the currency The U.S government and U.S consumers cannot keep borrowing money without our creditworthiness coming into question It simply is not sustainable It is impossible to know when the reckoning will happen, but it has to happen eventually I am completely in favor of Schiff s investment advice Liquidity in foreign currencies rather than having 100% exposure to the dollar , significant gold holdings, and conservative and high yielding foreign equity holdings can comprise a steady portfolio whether the U.S thrives or collapses It is not as if this type of portfolio would hurt in the long run if the U.S defies all odds and never needs to suffer through an extreme depression to rebalance its economy However, in the event of a U.S collapse, a portfolio like this would surge in comparison to U.S alternatives Crash Proof 2.0 is still very much worth the read six years later.


  8. says:

    Schiff is thorough, if a bit repetitive, in describing the problems facing the US economy He spends the first seven chapters explaining, piece by piece, the various underlying instabilities in the US economy, why they matter, and what is being done to make them better or worse worse, in most cases It s written at a level that should be accessible to most readers I m an engineer, with no background in high finance, but I was easily able to follow along.The final three chapters lay out a plan for how to avoid personal misfortune in the widespread collapse that Schiff predicts While he often recommends using his own financial services firm even going so far as to include his website and phone number at several points in the text , he also arms you with the questions and strategies to use to find another broker to execute the same or similar plan.Since he published the first edition of this book in 2006 and many of his dire predictions started immediately coming true, it s interesting to read the 2009 second edition, to which Schiff has added a short follow up at the end of each chapter explaining what has changed and what remains the same It s funny to read Schiff predicting a collapse in residential real estate prices, then to remember that he was writing this in 2006 when 99% of Americans considered real estate to be a perfect investment.My biggest criticism is that, for too many of his descriptions of fundamental problems, we are given only a brief description of the problem, with no data or supporting evidence to base it on Then we re led through sound logic building from these fundamental problems to a suggested course of action The problem with this is that I have trouble following a suggestion so counter to popular opinion, whose reasoning is based on a foundation that must be taken on faith I m a skeptic, by nature, so while some of these things I am able to confirm with my own experience or other reading, others I m no so sure of and would be comforted by supporting evidence While I do think that Schiff is right for the most part I think the book would be valuable and find a broader appeal if it was careful about documenting and supporting its claims.My second criticism is that Schiff says some things about business that make me think he hasn t much experience running one His viewpoint on the economy seems to be that of, well, an economist rather than a businessman It s like a baseball book written by an announcer as opposed to a player or a manager Since his focus is on a plan for individual investors, this is a good thing, and his perspective here is rock solid but his few stray points of advice to businesses seem out of place.


  9. says:

    This book was useful than I expected in terms of understanding investment options in different economic scenarios, including foreign currencies or stocks This 2.0 version takes the book Peter Schiff wrote in 2006 when he not only predicted the housing bubble but clearly explained why we would see an associated financial crisis and recession , then adds an updated section at the end of each chapter written in 2009 His writing style includes a very understandable explanation of Austrian economics and the trends that have been occurring, but does not delve into economic formulas in any way that requires intense study.I started to read this book largely because of my interest in economics, but was most pleased with how Schiff wraps up the current situation and clarifying WHY he recommends certain investments While he may not be correct about the future, it gives a person a very clear perception of why he is making his recommendations In fact, I would say it s likely some of the advice will be a mistake He is exceptionally bold and confident about his predictions it would be fair to say arrogant Practicality says that with all the influences on global currencies, government spending, Fed policies, oil supply, etc he cannot be right about everything However, if you already understand what mutual funds, bonds, 401Ks, etc are AND you don t really want to enter the world of day trading or hedging or shorting but you would like to not leave your investments entirely up to your financial advisor nor a chart of recommendations for your age then I recommend you read the book It may give you some perception on whether you choose to invest in various instruments foreign and domestic and or how to spread out your risk other than typical US stock bond cash purchases.


  10. says:

    More than half of the book is just based on the presumption that the foreign powers would realize the worthlessness of the US dollars and US assets and throw the money back at US What if it were never to happen If all the foreign powers are than content to hoard 50 trillions of US debt each This would go on for another 50 years The author does not consider the extent to which humans can be stupid He assumes that markets are clever, i.e markets operate with logic He fails to understand that markets are stupid, markets are emotional, they are sentimental and foolish There is one other bad habit of the author, which is to load huge number of jargons into one sentence and make that sentence very very long Thus many of these sentences had to be googled i.e I had to stop reading and search for meanings of many words that he started using For Example Let us look at this simple excerpt of the bookShort covering What is short covering will cause gold to rise Perhaps one of the biggest sources of new demand will be the covering of short positions.Borrowing and then selling non interest bearing gold, and then investing the proceedsinto interest bearing debt instruments, has been the world s ultimate carry trade What is a carry trade for years However, as gold prices continue their ascent, these carry trades will ultimatelyprove too heavy to support Why are they so difficult to support Where is the logic How do you assume that you will say something and i would intuitively gain the context required to understand it Compounding the problem will be the fact that many of the debt instruments providing the carry may lose value or even go into default.The rush to cover money losing short positions what traders call being in a shortsqueeze What the heck is a short squeeze Can t you give a simple definition here will only intensify gold s price rise, forcing even shorts to cover.In fact, it is very likely that many of the gold shorts will go broke and will not be ableto return the gold they borrowed to the rightful owners Why will they go broke What is the logic This will mean that many investors, including central banks that have lent out significant percentages of their reserves, will not get their gold back As a result they will have to reenter the market to buy back the very ounces they thought they already owned Of course, with all thatbuying, they will be paying much higher prices This is not a continuous book, i.e they are collection of huge number of topic written at random times about random events, most of these articles have the same or similar themes but with different words and sentences but the core idea is same for many of these articles that he has written The author must understand that a bunch of articles written randomly about the same topic at various intervals of time and then bunched together like a stack of rough papers and then bound, does not make it a book He rambles on about the stock market and then he jumps suddenly into the Housing Bubble and then Jumps into China, and then keeps hopping on from one topic to the next in a weird random circular format and then comes back to many of the topics previously discussed and then reinforces them at various points during these new articles.What could have been a beautiful book was ruined beyond recognition due to the extremely bad edition work, The editor could have removed tons of duplicates i.e the mentions of the same effect over thirty odd times at thirty different places with thirty different metaphors, will not make that prediction come true or it doesn t make it any interesting either.The book is extremely thin and it seems to be a deliberate attempt to make it so because the author wanted to conserve pages, he has put in all his attempts to condense his long sentences using jargons, How in the god damn hell would a person with limited resources focus absorb a few lines without actually getting bamboozled his own phrase Does the author have a sense that he is trying to explain finance to common audience, and thus he must take time to explain how to issues are correlated, The author has a serious curse of knowledge because he could see the relation between the two terms, he also immediately assumes that the reader will also be enlightened enough to understand that as interests are lowered the rents go down in a place or that we are born with an inherent ability to understand the order in which stock market liquidity of assets is distributed to various entities or the meaning of the word Hobson s Choice , I had to google for this one and read a wiki page to understand what he meant.Does the author get any brownie points to write cryptic or to write in jargon The irritation caused due to the continuous reference to tons of these random terms sprayed in each sentence is disturbing and distracting that this simple text of 200 odd pages made me sleep so many times due to the energy that I am losing after each article.The writing style is extremely stupid and bad, either done deliberately or due to the curse of knowledge or due to bad editing, whatever be the case it completely dismantled the joy of understanding the concepts that he tried to impart and pulled down the status of what should be a five star rated book to a mere 3 star or in some other cases less.The book adds a lot of value never the less, explaining in details about the step by step method in which the collapse will happen It is like a picture guide book to the Economic Collapse which is imminent The author should shift his focus to his audience and not write for his peers, or to win the accolades of his peers He must understand that a non jargon financially illiterate simpleton would read the book And about half of the book is filled with criticism and analysis of Fed, Alan GreenSpan, Peabody Ben Bernanke, Obama, with a stark and scathing narration of their follies, about how the dollar was weakened about about how the Dollar is unconstitutional and how they breached the gold standard.The Government is the root cause of all financial evil and the currency that we hold on to right now is worth nothing but toilet paper or might soon become so Though this book is written in 2009 then years have passed and there is no sign of the impending bubble though the FIAT currency runs amok


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