My next MUST READ Book....

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My next MUST READ Book....

Postby Indaswamp » Fri Feb 27, 2009 12:11 am

Crash Proof: How to Profit from the Coming Economic Collapse,Peter D. Schiff



Our days as the dominant economic power are numbered. The dollar is going to collapse, and Americans are going to experience stagflation on an unprecedented scale in the form of recession and hyperinflation. Those of you who act smartly and quickly by taking measures I outline later in this book not only will avoid loss of wealth but also will have positioned yourselves to prosper while your neighbors suffer a painful period of reconstruction and reform. (p. 6, italics original)



He believes that the US dollar is poised for a significant fall versus other currencies but in particular against real goods and services. Since closing the gold window in 1971, the Fed’s inflation of the money supply has been tempered somewhat by the unique position of the United States; foreigners, especially other governments, were willing to accumulate large reserves of dollar-denominated assets. But once the illusion is broken, the game will be over. The only thing that buoys a fiat currency’s market value is the widespread belief in its future market value. Once that belief is questioned, the green pieces of paper can become worthless. As Schiff puts it in one of his clever analogies:

Remember when Iron Mike Tyson wore the heavyweight crown, was knocking out everybody in sight, and was so fearsome it seemed inconceivable he could lose? Well, as always happens eventually, he finally met his match. Buster Douglas beat him, and after that he just kept getting beaten. It was the same Mike Tyson, but Buster had broken a psychological barrier.

Any reality check that pierces the myth that the American economy is too big to fail could begin the process of unraveling. (pp. 5–6)



For years the United States has been traveling a course the Nobel Prize-winning Austrian economist Friedrich von Hayek set forth in a book self-descriptively titled The Road to Serfdom. The coming economic collapse may finally bring Americans to that grim destination. But it is also possible that the same dire economic conditions will inspire a return to the country’s constitutional traditions of sound money and limited government, the foundation upon which a viable economy can be rebuilt. There is a fork in the road to serfdom. One choice leads back to freedom, and it is my fervent hope that Americans will take it. (p. 259)



Review of book:
http://www.lewrockwell.com/murphy/murphy129.html
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Postby HtownBlaster » Fri Feb 27, 2009 7:02 am

Sounds like a good read. Those that can adjust to the new economy will come out way ahead.

I am ordering a copy from Amazon right now.
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Re: My next MUST READ Book....

Postby CLUTCHfan » Wed Mar 04, 2009 9:54 pm

I'm going to weather the financial storm with the comemorative plates that I've bought over the years. I figure between those and my Obama coins, I'll be living high on the hog.
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Re: My next MUST READ Book....

Postby Tealer » Wed Mar 04, 2009 10:43 pm

:lol:
Just a word of advice don't sell the Osama coins on a hunting site.

I am going to weather the storm buy looting, minor riots, and general caos.
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Re: My next MUST READ Book....

Postby CLUTCHfan » Thu Mar 05, 2009 4:01 pm

Tealer wrote:

I am going to weather the storm buy looting, minor riots, and general caos.


Don't forget Mayhem................I love me some Mayhem.
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Re: My next MUST READ Book....

Postby Rat Creek » Mon Mar 09, 2009 12:40 pm

CLUTCHfan wrote:I figure between those and my Obama coins, I'll be living high on the hog.

:lol: :lol: :lol:
If you don't think that is funny, you are a communist. :clapping:
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