The Dollar Meltdown: Surviving the Impending Currency Crisis with Gold, Oil, andOther Unconventional Investments [Paperback]

Charles Goyette (Author)

Book Description

Release date: October 26, 2010

The New York Times bestseller-an investment book for the coming age of high inflation.

On the heels of the most recent economic crisis, America is headed toward another: high inflation and dollar devaluation. The signs are clear: Federal debt is compounding while growth has stalled, and America's foreign creditors are questioning the dollar's reserve currency status. Meanwhile, the "hidden" federal debt, much larger than the official debt, makes things even worse.

But the good news, according to Charles Goyette, is that those who are prepared can protect themselves-and even profit-in this new era. Drawing on historical examples and a clear, down-to-earth analysis, he explains the importance of gold, silver, and other alternative investments when inflation takes off. He also gives readers the investing tools to protect their savings and capitalize on the opportunities ahead. Savvy readers don't have to be left holding the bag after decades of government irresponsibility.

Editorial Reviews

About the Author

Charles Goyette, a former radio talk show host in Phoenix, has studied and practiced alternative investing for many years. He frequently appears in the media to discuss the intersection of economics, politics, and investing. --This text refers to an out of print or unavailable edition of this title.

Product Details

• Paperback: 272 pages
• Publisher: Portfolio Trade; Reprint edition (October 26, 2010)
• Language: English
• ISBN-10: 1591843707
• ISBN-13: 978-1591843702
• Product Dimensions: 5.5 x 0.7 x 8.5 inches
• Shipping Weight: 11.2 ounces (View shipping rates and policies)
• Average Customer Review: 4.4 out of 5 stars  See all reviews (38 customer reviews)
• Amazon Best Sellers Rank: #1,087,905 in Books (See Top 100 in Books)

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Most Helpful Customer Reviews

145 of 150 people found the following review helpful

4.0 out of 5 stars Not just another book of impending doom, but one of solutions November 10, 2009

By L. M. Fuke VINE™ VOICE

Format:Hardcover

Charles Goyette is not just another doomsayer. He has a number of strategies based on unconventional financial instruments so that a well-heeled reader can preserve his hard-earned cash.

It's really hard to imagine a crumbling America, but the signs of dollar decay are frankly staring right at us. Being myopic is not the way to survive; being open to new ideas most certainly is the means to survive, perhaps even thrive in economic disaster.

At the very least please read this book with an open mind; certainly be skeptical of his conclusions, but please BE RECEPTIVE TO ALTERNATE FINANCIAL STRATEGIES. We Americans are treading in treacherous waters. We have never been this deeply in debt; we have never been so bereft of hope.

Politicians seem intent on bail-outs of banks, even auto manufacturers. No one is going to bail YOU out. Read this book; it may be the only parachute available for less than twenty bucks.

I am not ordinarily a Gloomy Gus, but I am a realist. I am sixty years old and have worked hard all my life. It's shocking how my investemnts have shrunk. This dog needs to learn new tricks, too. "The Dollar Meltdown" is a good place to start.

55 of 55 people found the following review helpful

4.0 out of 5 stars Interesting times... November 20, 2009

By worker bee

Format:Hardcover

Where We Are, How We Got Here, What Happens Next, What To Do-- these are the four sections of this book.

Think of Goyette as the anti-Greenspan: someone who can take a complicated subject and explicate it in such a way that you can actually understand it. If you want to be able to answer the four questions that constitute the sections mentioned above: Read this book!

The incredible surge in precious metals (and other commodities) is perfectly understandable when you understand the dynamics at work. Explaining the dynamics of the markets is one of the tasks of this book-- it succeeds.

This book is not a dry recitation of economic statistics. Statistics in themselves don't tell you much without a framework, a context, to view them from. What makes this book so fascinating is that is combines an reiteration of WHAT happened with WHY it happened. A nice blend of theory and practice.

If you want to protect yourself and family from the irresponsibility of the political classes and the Banksters, then you will find plenty of strategies in this book that will lessen the pain that we will all feel as we make our way through this depression.

Did I mention that it's well written? People who know Goyette through his work in talk radio in Phoenix are very familiar with his intellectual skills. I'm happy to report that he writes as well as he speaks. Nice work.

51 of 53 people found the following review helpful

3.0 out of 5 stars Good information, questionable advice. February 22, 2010

By Daniel A. Webb

Format:Hardcover

I agree for the most part with Mr. Goyette on the impending dollar crisis. The debt problem is much more serious than it appears on the surface, which is already bad. His investment strategies, however, I don't necessarily agree with. I do agree that owning gold and other commodities is the right thing to do but most of his recommendations involve dollar denominated assets. If the dollar does collapse and we have hyperinflation, the dollar will be useless and owning foreign stocks and and assets is probably a better route. If you do not have the financial means to really invest in foreign markets and Goyette's advice is all you can afford then its better than nothing. If we see 10-20% inflation, which IMO is very likely, these suggestions will do you a lot of good, but if inflation hits 100+% and the dollar does meltdown what good would it do you to have billions of dollars if they are completely worthless. I suggest reading Peter Schiff's Crash Proof 2.0 for investing strategy in respect to this topic.

27 of 30 people found the following review helpful

5.0 out of 5 stars Perfect Timing November 28, 2009

By Charles Maurer

Format:Hardcover

Charles Goyette has done his readers a great service with this timely book on the current financial crisis and how to best prepare for the worst that is yet to come.

The book is organized into four sections:

I. Where We Are
II. How We Got There
III. What Happens Next
IV. What to Do

Goyette has done his homework, with a wide range of facts, figures, and historical information not often found among the mainstream media and politicians. The section on the true amount of America's debt burden should be a frightening wake-up call for any American concerned about the economic future of this country. But unlike a lot of doom-and-gloom books, Goyette ends on a positive note on how to protect your finances through investing in gold, silver, oil and other commodities.

Highly recommended.

17 of 18 people found the following review helpful

4.0 out of 5 stars A Worthy Read if You're Not Familiar with the Topic December 20, 2009

By Drea Knufken

Format:Hardcover

Charles Goyette, a radio show host, precious metals pro, and libertarian, shares his views on fate of the US dollar in "The Dollar Meltdown." In his four-part book, Goyette details where the US economy and dollar are now, how we got here, what might happen next, and how to protect your money.

The topics Goyette presents are necessary reading for anyone wanting a well-rounded perspective on the current US economy. Even if you don't agree with some of Goyette's strong libertarian viewpoints, his colorful writing and factual anecdotes make "The Dollar Meltdown" an interesting read.

As its cover might imply, "The Dollar Meltdown" isn't a gentle introduction to the collapse of the dollar. Libertarians and Austrian school aficionados would feel most at ease with this book. Refreshingly, the nonpartisan author implicates both Democrats and Republicans as fiscal and monetary ne'er do gooders.

Goyette says "the body economic is shuddering from the relentless compulsions of meddlers." Thanks to government intervention in money and markets, the US faces runaway inflation. Between Sept 2008-March 2009, US monetary base grew 199%. Add the domestic dollar supply to foreign dollar reserves--up to half of US dollar reserves are in foreign hands--and you have a potential oversupply.

The country's debt situation is making holders of dollars, both foreign and domestic, nervous about the value of their greenbacks. Goyette writes that our national debt adds up to $42,000/person for the bailout (March 2009 numbers). On top of that, China owns $767 billion in US Treasury securities. That's the equivalent of each individual American borrowing $3,300 from people in China.

If people start dumping dollars, all that extra supply will make it back to the US.... Inflation will result. Several countries are already seeking other kinds of reserves--euros and gold, for example--to replace dollars.

Why isn't the government quaking in its boots? Because, says Goyette, it has always pursued inflation as a policy. Authorities aim for mild inflation as a manageable economic state. The government tries to alter deflationary states into inflation to gain a sense of control of the economy. "Helicopter" Ben Bernanke is doing exactly that right now. Moreover, as the country's biggest debtor, the government benefits most from inflation. For example, at 4% inflation, a debt of $12 trillion depreciates by $480 billion/year.

Economic gyrations actually work well for politicians, because they can capitalize off the consequences of inflation. They can campaign based on economic woes. Inflation can help them get reelected. It also helps the government increase its own power. After the government produces inflation, it will initiate wage and price controls. It will use inflation as a vehicle to move towards central command (total economic control).

Goyette, a free-market proponent, says authorities can never be one step ahead of the economy. Inflationary policies aren't good for the economy. "Saying some inflation is desirable is like saying a few termites are a good thing...," he remarks.

To combat the wealth-destroying effects of runaway inflation, Goyette recommends you put 25% of your portfolio into gold and silver, ideally physically held. He offers expert, detailed advice on how and where to buy it. Goyette's chapter on buying gold is one of the most cohesive and useful chapters in his book. His expertise in the field shines through.

Subsequent chapters aren't as well-defined, but do offer detailed background information on each recommended investment. The next chapter talks about silver. Chapters on investing in oil, natural resources, commodities, bonds (using a long inverse strategy), and foreign currencies follow.

Analysis

At times, I found the book dogmatic. For example, throughout the book, Goyette mentions that America is transforming itself into a central command economy. He says command economies produce poverty. Fair enough.

But isn't China, increasingly prosperous as it is, still a command economy? Goyette addresses this by saying that "as China freed its command economy, growth came." Yes, but that doesn't mean China is free from command. Nor does it mean that America won't stop the top-down action until it becomes the USSA. This tendency to polarize marks some of his claims. What's more, Goyette later recommends buying an ETN (exchange-traded note) issued by the (socialist) government of Sweden. We hate central command, but we support it when it's in our own interest?

If you can get over a couple of belief-system questions (these arguments might be better rationalized by established Libertarians, but if you're new to this kind of talk, it's hard to take at face value), and the occasional divisive language, "The Dollar Meltdown" is a worthy read. It covers a perspective you need to know about in an entertaining, interesting way.

(Review by Drea Knufken) Read more ›