Coming Collapse of the Dollar And How to Profit from It Make a Fortune by Investing in Gold And Other Hard Assets

Turk, James, Rubino, John A.

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PRICE
FOR FREE
AUTHOR
Turk, James, Rubino, John A.
DATE
2006
ISBN
9780385512244
LANGUAGE
ENGLISH
FILE FORMAT
5,1 MB
FORMAT
FB2 EPUB PDF

BOOK DESCRIPTION

Chapter 1 ILLUSIONS OF PROSPERITY During the final two decades of the twentieth century, the U.S. economy was the envy of the world. It created 30 million new jobs while Europe and Japan were creating virtually none. It imposed its technological and ideological will on huge sections of the global marketplace and produced new millionaires the way a Ford plant turns out pickup trucks. U.S. stock prices rose twentyfold during this period, in the process convincing most investors that it would always be so. Toward the end, even the federal government seemed well run, accumulating surpluses big enough to shift the debate from how to allocate scarce resources to how long it would take to eliminate the federal debt. As the coin of this brave new realm, the dollar became the world's dominant currency. Foreign central banks accumulated dollars as their main reserve asset. Commodities like oil were denominated in dollars, and emerging countries like Argentina and China linked their currencies to the dollar in the hope of achieving U.S.-like stability. By 2000, there were said to be more $100 bills circulating in Russia than in the U.S. But as the century ended, so did this extraordinary run. Tech stocks crashed, the Twin Towers fell, and Americans' sense of omnipotence went the way of their nest eggs. As this is written in early 2004, three million fewer Americans are drawing paychecks. The federal government is borrowing $450 billion each year to finance the war on terror as well as an array of new or expanded social programs. Short-term interest rates have been cut to an incredible one percent, and while growth is finally accelerating, borrowing at every level of society is rising even faster.The dollar, meanwhile, has become the world's problem currency, falling in value versus other major currencies and plunging versus gold.The whole world is watching, scratching its collective head, and wondering what has changed. The answer, as will become clear in the next few chapters, is that everything has changed, and nothing has. The spectacular growth of the past two decades, it now turns out, was a mirage generated by the smoke and mirrors of rising debt and the willingness of the rest of the world to accept a flood of new dollars. Just how much the U.S. owes will shock you. But even more shocking is the fact that we're still at it. Like a family that has maintained its lifestyle by maxing out a series of credit cards,America is at the point where new debt goes to pay off the old rather than to create new wealth. Hence the past few years' slow growth and steady loss of jobs. So why say that nothing has changed? Because today's problems are new only in terms of recent U.S. history. A quick scan of world history reveals them to be depressingly familiar.All great societies pass this way eventually, running up unsustainable debts and printing (or minting) currency in an increasingly desperate attempt to maintain the illusion of prosperity. And all, eventually, find themselves between the proverbial devil and deep blue sea: Either they simply collapse under the weight of their accumulated debt, as did the U.S. and Europe in the 1930s, or they keep running the printing presses until their currencies become worthless and their economies fall into chaos. This time around, governments the world over have clearly chosen the second option. They're cutting interest rates, boosting spending, and encouraging the use of modern financial engineering techniques to create a tidal wave of credit. And history teaches that once in motion, this process leads to an inevitable result: Fiat (i.e., government-controlled) currencies will become ever less valuable, until most of us just give up on them altogether. These are strong words, we know. But by the time you've finished the next two chapters we think you'll agree that theyTurk, James is the author of 'Coming Collapse of the Dollar And How to Profit from It Make a Fortune by Investing in Gold And Other Hard Assets', published 2006 under ISBN 9780385512244 and ISBN 0385512244.

...Coming Collapse of the Dollar and How to Profit from It Make a Fortune by Investing in Gold and Other Hard Assets by James Turk; John Rubino and Publisher Currency ... ‎The Collapse of the Dollar and How to Profit from It on ... ... . Save up to 80% by choosing the eTextbook option for ISBN: 9780385514040, 0385514042. The print version of this textbook is ISBN: 9780385512237, 0385512236. A sudden dollar collapse would create global economic turmoil. Investors would rush to other currencies, such as the euro, or other assets, such as gold and commodities. Demand for Treasurys would plummet, and interest rates would rise. U.S. import prices would skyrocket, causing inflation. How to Profit from the Coming Trump Tra ... Amazon.com: The Coming Collapse of the Dollar and How to ... ... . Demand for Treasurys would plummet, and interest rates would rise. U.S. import prices would skyrocket, causing inflation. How to Profit from the Coming Trump Train Wreck ... The Future Of The US Dollar - Duration: 24:07. Cambridge House International Inc. 322,332 views. 24:07. Peter Schiff on the Fed, Rand Paul, and ... The Collapse of the Dollar and How to Profit from It Make a Fortune by Investing in Gold and Other Hard Assets by James Turk; John Rubino and Publisher Currency. Save up to 80% by choosing the eTextbook option for ISBN: 9780307483119, 0307483118. The print version of this textbook is ISBN: 9780385512244, 0385512244. Coming Collapse of the Dollar and How to Profit from It: Make a Fortune by Investing in Gold and Other Hard Assets by By investing in gold and other hard assets, Turk and Rubino explain how you can protect yourself from these dangers. The Coming Collapse of the Dollar and How to Profit from It is a must read for every investor, whatever the size of his or her portfolio. For more information, visit www.dollarcollapse.com. The Bretton Woods agreement, designed to make the dollar appear "as good as gold", was cover for the US government to fund Korea, Vietnam and other foreign ventures by monetary inflation, which it did without restraint. That deceit ended in 1971, and today the ratio of an ounce of gold to the dollar has moved to about 1:1310 from the post-war rate of 1:35, giving a loss of the dollar's ... The dollar is in trouble. It has fallen against other currencies for the past three years, and now its orderly retreat could well become a rout. This spells potential disaster for the American economy—and potential riches for a few smart investors. In The Coming Collapse of the Dollar and How to Profit from It, financial gurus James Turk and John Rubino show how the dollar arrived at this ... You can read the first chapter of James Turk and John Rubino's latest Book here "The Coming Collapse of the Dollar and you can profit from it. Make a fortune investing in gold and other hard assets." You can read the bloomberg gold price survey which is wrong 41% of the time here. Posted by goldprice at 4:29 PM . Email This BlogThis! Share to Twitter Share to Facebook Share to Pinterest. No ......