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Customer Review

172 of 191 people found the following review helpful
2.0 out of 5 stars Shocking: both book and possible future senarios, August 30, 2011
This review is from: Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown (Hardcover)
I guess if one is online with one can be offered this book for free...but get suckered into signing up for two expensive newsletters, of the authors, for which you will have to opt out if you don't want them, and just wanted their free book. So beware.

1. As a piece of writing, it is pretty convoluted and reads much like a sales direct mail piece with lots of redundancy...maybe to make it more like book length. In other words, I don't believe they had a good outline for the book in the first place, or just really don't have a grasp at teaching their own theory.

2. Some of the information gives a good lesson regarding things to research, just like we should be aware of why there is a possibility of default by our government. Although a better and quicker understanding of this is found in the videos on YouTube regarding "Money as Debt." Banks continue to create money out of "assets" which are nothing but debt to be repaid with fewer and fewer dollars. Although Aftershock says we, i.e. the Federal Reserve banks, are printing more dollars to create a "bubble," and those "dollars" are in the banks as reserve; they really are nothing more than debt as asset. The authors don't tell us this.

3. The book does show us some statistical examples, but we don't know where they come from, in order to check accuracy or credibility, and the authors analysis may or may not be correct. We do know that the country's debt will not be sustainable as it continues to grow with fewer and fewer dollars to pay the interest on that debt, and just as happened with Argentina some years ago when they stopped paying interest on their debt, and banks (Continental of Chicago) and businesses collapsed here in the states, the U.S. default on debt could create havoc in the rest of the world as well.

4. The authors are so wrapped in their "bubble" theory that they don't explain it very well, just repeating the possibility of a 'Pop.' Yes they audaciously promote their businesses,but do along the way give some a bit of a window into what may be going on and how things are interconnected economically. They say they didn't change this 2nd edition drastically other than bringing it up to date...I wish they had.
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Initial post: Nov 2, 2011 2:50:46 PM PDT
Thanks for your comments Paul. You're absolutely right that a US default will spell worldwide trouble.

The fractional reserve system in which banks create money as debt is an important topic and one that has been dealt with by many authors. If we don't explain it in this book, it's because we want the book to be as accessible as possible, and ultimately it does not change the fact that when the Federal Reserve prints massive amounts of currency and pumps it into the economy by buying bonds, we end up with a much weaker dollar.

The statistics we cite in the book can be easily researched in the internet age. WE haven't been challenged by anyone regarding any of the data presented. As for offering our services, many readers wanted more in-depth and specific assistance regarding their financial situations in response to our earlier publications, and we launched a variety of services in response. Mentioning those services in our books is the only outreach we do for them.

We do hope to publish the broader theory on which our predictions are based, so hopefully that will address what you think is missing. Stay tuned.
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