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The Coming Collapse of the Dollar and How to Profit from It: Make a Fortune by Investing in Gold and Other Hard Assets Hardcover – December 28, 2004


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Editorial Reviews

Review

Advance Praise for The Coming Collapse of the Dollar and How to Profit from It

“Turk and Rubino are right: There is a crisis coming, and it will cause a collapse in the mountain of credit fostered by the monopoly central banks of the world. Read this book and find out how you can protect yourself while there's still time.” —Robert R. Prechter, author of the bestseller Conquer the Crash

”Should be read by everyone who is interested in both their own investments and this nation's future. I recommend this book highly.” —Richard L. Russell, Editor, Dow Theory Letters

“[Turk and Rubino] lay out a road map for avoiding the ‘Perfect Financial Storm.’ By reading this book you will be able to keep you and your loved ones safe, and . . . build real wealth in the process.” —Jim Puplava, Puplava Securities, Financial Sense Online
“A home run here for investors who want to profit from the dollar collapse.” —Bill Murphy, Chairman, Gold Anti-Trust Action Committee and founder, LeMetropoleCafe.com


“Fast moving, compelling, and extremely relevant for all investors.” —Rob McEwen, CEO, Goldcorp

“Every American investor and every foreign investor in dollar denominated investments ought to read this book.” —Franklin Saunders, Editor, The Moneychanger
“As Turk and Rubino note, hard times are hard only for the unprepared. Read this book and you will not only be prepared, you will profit greatly from what lies ahead.” —Robert Bishop, Editor, Gold Mining Stock Report

From the Inside Flap

Periodically, the global economy shifts gears in a fundamental way, turning conventional wisdom on its head and producing new categories of winners and losers among investors. The spectacular growth of the last twenty years has slowed; and the dollar, once the world's dominant currency, is falling in value every day. One sure winner has emerged from the debacle, however: gold. Historically a haven during times of uncertainty, gold began rising in 2001 when high-tech stocks imploded. At the end of 2003 it was up by 50 percent, trading at around $420 an ounce. With governments running up record debts and printing money with abandon to sustain the illusion of prosperity, gold is now poised to soar in value against most national currencies and reclaim its place at the center of the global financial system.

In THE COMING COLLAPSE OF THE DOLLAR AND HOW TO PROFIT FROM IT, James Turk and John Rubino explain how ordinary investors can preserve and increase their wealth by investing in gold coins, gold mining stocks, and gold-based digital currencies. They delineate the potential profits, as well as the risks involved, in the various options; discuss how to integrate gold into a balanced financial portfolio; and point out the pros and cons of buying shares in funds that invest in gold-mining stocks.

The devaluation of the dollar has already hurt millions of Americans: the real value of fixed incomes has shrunk; the stock market may be overvalued once again; and bonds, tied to an ever-depreciating dollar, are headed for disaster. In a clear, highly practical style, THE COMING COLLAPSE OF THE DOLLAR AND HOW TO PROFIT FROM IT shows readers why catching the "gold bug" now is the surest way to flourish in the future.

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Product Details

  • Hardcover: 240 pages
  • Publisher: Broadway Business; 1St Edition edition (December 28, 2004)
  • Language: English
  • ISBN-10: 0385512236
  • ISBN-13: 978-0385512237
  • Product Dimensions: 6.5 x 0.8 x 9.6 inches
  • Shipping Weight: 1.1 pounds
  • Average Customer Review: 4.1 out of 5 stars  See all reviews (47 customer reviews)
  • Amazon Best Sellers Rank: #1,178,514 in Books (See Top 100 in Books)

More About the Author

James Turk is founder and chairman of www.GoldMoney.com, which provides a convenient and economical way to buy and sell gold, silver and platinum online using the digital gold currency for which he was awarded four US patents. He has specialized in international banking, finance and investments since graduating in 1969 from George Washington University with a B.A. degree in International Economics. He began his business career with The Chase Manhattan Bank (now J.P. Morgan Chase), which included assignments in Thailand, the Philippines and Hong Kong. In 1980 he joined the private investment and trading company of a prominent precious metals trader. He moved to the United Arab Emirates in December 1983 to be appointed Manager of the Commodity Department of the Abu Dhabi Investment Authority, a position he held until resigning in 1987 to begin FGMR.

James Turk has written several monographs on money and banking and is the co-author of The Coming Collapse of the Dollar (Doubleday, 2004), now available in a paperback version entitled The Collapse of the Dollar (www.dollarcollapse.com).

Customer Reviews

4.1 out of 5 stars

Most Helpful Customer Reviews

135 of 136 people found the following review helpful By Mike D. Landfair on March 26, 2006
Format: Hardcover Verified Purchase
I just finished reading The Coming Collapse of the Dollar and How to Profit From It By James Turk & John Rubino published in 2004. James Turk is founder of GoldMoney.com, the leading digital gold currency payment system. John Rubino is the author of How to Profit from the Real Estate Bust.

I've posted a lot about inflation and gold, the Federal Reserve, and the destruction of the US Dollar. I have read about the inflation that Germany experienced after WWII, the devaluation of the Mexican Peso and the Argentine Peso. If that is our future, I wanted to have some idea of what is in store for us and. The book is divided into four parts and is well written and difficult concepts are explained well:

Part One - Why the dollar will collapse

Part Two - Money Then and Now

Part Three - Wht Gold Will Soar

Part Four - Profiting From The Dollar's Collapse

In part one we learn that we have a fiat currency, backed by nothing except a decree that the US Dollar is legal tender. Throughout history, in order for governments to satisfy demands without raising taxes, a government not only begins to debase its money, but inflates as well. Both are happening in the US and no government has been successful. We have a history of that in this country with the Continentals and the Confederate currency, both worthless.

Another fact that dooms our currency is that we have too much debt. Total unfunded liabilities of the US are in excess of $43 Trillion, as a society we owe another $37 Trillion and Derivatives are in excess of $200 Trillion.

Then we have a trade imbalance which just topped $800 Billion for 2005.
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173 of 187 people found the following review helpful By Stuart Gardner VINE VOICE on February 24, 2005
Format: Hardcover Verified Purchase
The authors do a good job of explaining how to invest in gold and how to put a portfolio together (from coins to mining stock).

Following the advice and investing all your funds into gold and a limited number of stocks could be self destructive though.

However, as the authors point out, the Government has confiscated gold before - and could again. If things get as bad as they suggest Governments could nationalize mines ........

If the authors are on target with their predictions, investing now in an assault rifle, a cabin in the woods and alot of tinned food would make a better investment than gold.

Gold could very well make a great investment given a sliding dollar; the argument that the dollar will collapse completely is taken to an absolute extreme (the Dollar Crisis, Causes Consequence Cures, covers the same ground more convincingly).

Useful book - worth considering as part of your personal investment strategy. However, I wouldn't plan my portfolio around the authors advice alone - having too great a dependance on any one asset class can be bad. Advice on how to invest in gold (practicalities)is very good though.
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236 of 265 people found the following review helpful By B. Lovian on February 27, 2005
Format: Hardcover
The authors are convinced that the dollar will collapse, but their book is far from convincing. Even if the dollar does collapse, it might not do so for years or even decades. They offer up historical and theoretical reasons why the dollar should collapse, and they sound persuasive, but they never show exactly WHY the dollar MUST collapse.

That said, if the dollar does collapse, then following their advice should prove fruitful. They present a number of different ways for both relatively conservative and aggressive investors to profit. But, embarrasingly, one of the contra-dollar mutual funds they recommend (PIMCO Foreign Bond) is actually a dollar-hedged bond fund, meaning it's not designed to benefit from a dollar decline. I guess they didn't bother to read the prospectus.

Their model portfolios would have even "conservative" investors basically place all their bets on a falling dollar. This is arrogant and irresponsible. Unless you're a speculator who can afford to lose big, you need some diversification (cash, short- term U.S. bonds, dividend stocks, etc.) so that a dollar rally won't lead to huge losses. I'm about 1/3 gold/contra-dollar, 1/3 cash/short-term bonds, and 1/3 dividend stocks. (I am avoiding long-term bonds completely until we see at least 7% yields to compensate for the risk.) When I become bearish on stocks, which I expect to do by 2006, then I may go up to 49% contra-dollar and 51% cash, but I'd never bet more than half my dough on a single investment strategy and no responsible advisor would suggest that you do.

Strangely, the publisher touts praise of the book from ultra-bear Robert Prechter, whose predictions have been pretty lousy of late. Prechter is a deflationist who has been a long-term bear on gold for quite some time.
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54 of 58 people found the following review helpful By B.Sudhakar Shenoy on April 19, 2005
Format: Hardcover
The world is today awash with liquidity. Thanks to the extravagant living backed by paper currency, America is today the world's largest debtor nation. Though debt by itself is not bad, it is dangerous both to the borrower and the lender if it is not backed by productive assets. This book is about the origin and consequences of such a situation and the currency that has helped inflate the global monetary bubble on a scale that is threatening to burst on our faces.

First the book gives a good definition of money as a standard of value, store of value and a medium of exchange. Going by this definition, over the centuries mankind has experimented with several monetary equivalents including cattle, sea shells, metals and the like. Whatever the medium, there was a definite asset equivalent attempted to be stored in money. This system got refined over the years and ultimately gold emerged as the undisputed monetary standard in the nineteenth century. Under this system, governments and central banks had to maintain gold equivalent in their vaults for the paper currency issued by them. Excessive government spending was thus effectively curtailed and exchange rates were automatically balanced. It is the gradual deviation and debasement and later the outright abandonment of this system in 1971 that seems to have led to today's situation where the dollar has just over 1% of its value as gold reserves with the Fed.

In an imminent possibility of a virtual run on the dollar by creditor nations and oil exporting countries, the dollar is bound to plunge. Gold expressed in dollar equivalent will surge. This logic does not need any further explanation. But what is more interesting is the discussion on alternate investment strategies that can outperform gold in real terms.
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