![Crash Proof How to Profit From the Coming Economic Collapse]()
Crash Proof: How to Profit From the Coming Economic Collapse By Peter D. Schiff, John Downes2007 | 272 Pages | ISBN: 0470043601 | PDF | 3 MB
The title of this book ought to be "How to keep your money a little safer". As for "profiting", where's that? This book teaches very basic and conservative techniques that can be summed up as: (1) Buy gold: how to own it through physical holdings, ETFs, etc.(2) Invest in foreign stocks, but not through ADRs or Pink Sheets.(3) Get liquid, save more.Thanks for the tips!This first edition was published in 2007. It's the Year 2010 now. Many of the author's predictions have come true, so lucky for him that this book is still selling! This is one section I disagree on Chapter 8, page 177:"China's advantage is that is it NOT a democracy"?! I never like it when people are treated like numbers and statistics!Do you know what it is like to be a SLAVE?!!! Do you know how Chinese workers are suffering so that their bosses can become rich at their expense and lives? Working under most Asian bosses don't pay! How does the author like to live on less than US$1 a day or no pay at all?!!!You can be assured that starvation will change his way of thinking.IF China is so "great and prosperous" as the mainstream news media would like to peddle it as, why is the average working Chinese I speak do prefer to live in the West instead? NO serious freedom-loving Asian wants to live in stinking undemocratic Asia! But wait, why this author is peddling Asian stocks and investments? At whose interests? If the author likes living in a dictatorship, he can come work and live in Asia as a commoner. This is where everyone gets enslaved for foreign (read: American, European, G-20) MNCs and the likes of the ugly American, tax-evading Europeans and other neo-colonialists!Americans! Count your lucky stars that you still have the Bill of Rights - at least on paper! Look abroad only if you have heaps of money to burn or are one of those rich men who want to evade or reduce domestic taxes (they call it: international diversification)! In spite of a recession or depression, there are ample domestic investments for you to look at. Certainly, read and study more than just this book! Don't jump into any investment simply because you read it from a book. Salesmen always have an interest to sell you something because they make more money that way.The author may be bearish on American investments, but not those outside America. Foreign investors are have a bullish outlook on America and propping up the USD, despite the fact that Asian central banks may be having second thoughts on USD. American financial institutions and corporations just need to be more open, accountatble and responsible to tax-paying public. If America fails, it is because of the excessive GREED and irresponsible behaviors of these American corporations and banks that need to be reigned in. Looking at how those greedy CEOs pay themselves with tax-payers' bailout money, it looks like some things will never change! The author's revelation of the failings of American institutions in the first half of the book attest that insatiable GREED is now an established and cultural sin. What if I were American residing in America, how will I invest?If you feel patriotic, support the government's Patriot Bonds!Support your export industries!Look at what foreign investors are investing within America and follow suit! If you're a millionaire, part of your portfolio ought to be denominated in foreign currencies. That's common sense, never have everything denominated in one currency.No one can teach you when to sell anything, but there's help at the end of the book! The author offers his investment firm "Euro Pacific Capital" as a solution.Good advertising for one of his income sources! But, wait! I take a look at those who give this book a 1 star rating and am shocked to see his investors have lost money! What is happening here? I guess no one likes losing money with anyone or in anything. Caveat emptor with everything that you do with your own money! Best to manage your own money! Recommended reading:Profit Over People: Neoliberalism & Global Order The Ultimate Depression Survival Guide: Protect Your Savings, Boost Your Income, and Grow Wealthy Even in the Worst of Times
