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Crash Proof: How to Profit From the Coming Economic Collapse (Lynn Sonberg Books) | 
 enlarge | Authors: Peter D. Schiff, John Downes
Publisher: Wiley
Category: Book
List Price: $27.95
Buy New: $16.77
You Save: $11.18 (40%)
New (23) Used (11) from $15.07
Rating:  250 reviews
Sales Rank: 51
Media: Hardcover
Number Of Items: 1
Pages: 288
Shipping Weight (lbs): 1.1
Dimensions (in): 9.1 x 6.2 x 1.1
ISBN: 0470043601
Dewey Decimal Number: 332.60973
EAN: 9780470043608
ASIN: 0470043601
Publication Date: February 26, 2007
Availability: Usually ships in 24 hours
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Product Description
The economic tipping point for the United States is no longer theoretical. It is a reality today. The country has gone from the world's largest creditor to its greatest debtor; the value of the dollar is sinking; domestic manufacturing is winding down - and these trends don't seem to be slowing. Peter Schiff casts a sharp, clear-sighted eye on these factors and explains what the possible effects may be and how investors can protect themselves. For more than a decade, Schiff has not only observed the U.S. economy, but also helped his clients reposition their portfolios to reflect his outlook. What he sees is a nation facing an economic storm brought on by growing federal, personal, and corporate debt, too-little savings, a declining dollar, and lack of domestic manufacturing.
Crash-Proof is an informed and informative warning of a looming period marked by sizeable tax hikes, loss of retirement benefits, double digit inflation, even - as happened recently in Argentina - the possible collapse of the middle class. However, Schiff does have a survival plan that can provide the protection that readers will need in the coming years.
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| Customer Reviews: Read 245 more reviews...
 Good Advice But... October 13, 2008
I read this very interesting book a couple of months ago and was surprised to see it climbing the charts again. The topic is certainly timely and much needed however...
While I agree with the Lion's share of the advice (and the author is more competent in these matters than I) contained therein, I struggle with accepting his advice in precious metals and foreign markets. As I believe, the foreign markets still reflect the good `ole USA at this time, I just cannot trust them. In addition, gold is too volatile for my needs at the age of 52. Of course, the book speaks loudly about age and options.
Everything else I believed was right on target therefore I give it a 4 star rating. I hope you found this review helpful. Michael L. Gooch, SPHR - Author of Wingtips with Spurs: Cowboy Wisdom for Today's Business Leaders.
 Conflict of interest seems likely. October 10, 2008
1 out of 2 found this review helpful
I read "Crash Proof" in one day yet I'm not an investor. I think the concern that Mr. Schiff is using his book to promote his company's line of investment products is a valid one. On another note, there is a glaring error on page 224 of the hard cover edition. He writes, "My favorite way to buy silver is just to buy junk silver ... minted before 1968. They [the coins] are 90 percent silver." Wrong. Only the coins minted before 1965 are 90 percent silver. A quick visit to any of the Junk Silver web sites will confirm it. I wonder if the book contains other errors?
 Novice here... October 10, 2008
1 out of 1 found this review helpful
I'm a complete novice to finances. Or at least I was before I read Crash Proof. It made all of those fancy stock market terms easy to understand. I was already anticipating some kind of crash because Ron Paul was saying it was coming, and he's been right every time! But this book made the coming crisis more scientific.
Also, the part about Gold is genius. Get gold! GET GOLD!
Crash Proof October 6, 2008
0 out of 2 found this review helpful
This is an excellent book. It is very easy to understand and explains what is happening with the economy and how to protect your money. I believe it is a necessity in these troubled times.
Shera RAel
 nothing insightful, radical point of view, shills for his own company October 6, 2008
10 out of 20 found this review helpful
I bought this book when I was somewhat zealous of gold and the potential of an economic collapse. You can get a feel for the nature of this book from its title "how to profit" from the coming economic collapse. This is not a book about political or economic theory. It is an emotionally stirring book that directs you toward investing a) in gold and b) in foreign stocks. Schiff even advises borrowing at a fixed rate to invest in gold and foreign stocks to beat the rate difference, setting up a mini hedge fund with your personal equity.
I already had bought some gold and was looking for a clearer picture. I only found the same radical rhetoric typical of "gold bugs" - that Gold has value as money and nobody knows about it and when the dollar busts Gold is going through the roof.
The problem with this rhetoric is obvious in retrospect. Gold is not used as money anywhere in the world, nor is there any serious "back to gold" movement. Gold moves up when there is uncertainty and "flight to quality," but that is a reflection of "perception is reality" (ie. gold is also a form of illusory wealthy that can be stripped in an instant) and mass psychology. It is not because of any intrinsic value gold has as money.
That is gold will go up, but won't skyrocket. It is a gamble and it is uncertain. It trades like a commodity and can act as a hedge against inflation. It is not, however, a bedrock inflation free currency as Schiff and other gold bugs would like to present it. Gold has no academic followers and fiat currency works fine when it is managed right. A return to gold money is as likely as a return of the U.S. to libertarianism and the constitution.
Schiff's second play, is foreign stocks. According the Schiff the best and cheapest way to buy these is through his brokerage firm. I don't know much about buying foreign stocks and Schiff didn't give much advice. Just give his brokerage firm a call. Schiff barely acknowledges that we live in a global economy so much so that a failure in the U.S. will lead to a failure overseas regardless of what sort of business you choose.
The U.S. dollar holds up the entire world economy, if it fails then everything fails.
The world is ending so you should buy gold and foreign stocks.
The substance of this book is nothing more than a shill for Schiff's company (the intro was nicely written though).
I have to add that I met Schiff personally (when I was more zealous of libertarianism) and did not like him. He did not come near my expectations, just like Ron Paul. Libertarianism has no soul. That is my opinion.
If the world is really ending give up all your money and follow Jesus Christ.
The pessimism you find in Schiff's books is really found in your own soul and no amount of money will save you.
For what does it profit a man to gain the whole world and forfeit his soul?
Acts 17:30-31, "The times of ignorance God overlooked, but now He commands all people everywhere to repent, because He has fixed a day on which He will judge the world in righteousness by a man whom He has appointed; and of this He has given assurance to all by raising Him from the dead."
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