Enter your mobile number below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
Getting the download link through email is temporarily not available. Please check back later.

  • Apple
  • Android
  • Windows Phone
  • Android

To get the free app, enter your mobile phone number.

Audible Sample
Playing...
Loading...
Paused

Crash Proof: How to Profit From the Coming Economic Collapse Audible – Unabridged

4.3 out of 5 stars 368 customer reviews

See all 6 formats and editions Hide other formats and editions
Price
New from Used from
Kindle
"Please retry"
Audible, Unabridged
"Please retry"
$0.00
Free with your Audible trial
Free with Audible trial
$0.00
Buy with 1-Click
$14.95

Sold and delivered by Audible, an Amazon company


Product Details

Customer Reviews

Top Customer Reviews

Format: Hardcover Verified Purchase
I enjoyed this book even though I was previously aware of its economic arguments and suggestions for portfolio allocations. Mr. Schiff is passionate and sincere and that tone comes across in the book. For that, thank the excellent John Downes who has co-written several other good business books. Many other reveiwers here discuss the contents of the book so I won't go there.

I worked as a bullion dealer in the 1970's so this is my second "crash" cycle. Many people thought the US would collapse in the 70's due to inflation and a national debt of $1 Trillion dollars. Many thought gold would zoom to the moon. Instead, gold crashed and languished for over 20 years. That's because the US was able to shift gears.

Reagan pulled the US economy up from its tailspin by switching from printing money to issuing debt. He took advantage of the low US debt/GDP ratio to inflate debt by selling bonds to Americans and foreigners. It accomplished the same thing - letting the economy expand with a near infinite supply of cash liquidity. George W Bush then doubled the US national debt to $10 Trillion in only eight years. Low interest rates sucked in the public who took on enormous personal debt.

The US now can't rapidly inflate because the dollar would collapse and can't take on more debt because investors doubt it can be repaid in sound money. People don't accept the possibility of an economic crash because they think the US/Bernake/Fed will always be able to pull another rabbit from the hat. This complacency will lead to disaster for most investors.

The US is tapped out on debt both public and personal. The US has so debased the dollar that it has fallen tremendously since Bush II took office and continued the pattern of reckless spending.
Read more ›
21 Comments 432 people found this helpful. Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback.
Sorry, we failed to record your vote. Please try again
Report abuse
Format: Hardcover Verified Purchase
I read this book around early summer after hearing about it on a financial webcast I stumbled accross. Thank heavens I did. I read the author's explanations of what has happened and what will and I have to say that it makes sense to me. I had macroeconomics 25 years ago and barely paid attention but after reading this it all came back to me. Schiff doesn't just preach gloom and doom. He lays out a good case for his predictions. I didn't just trust this book. I read two others that basically say the same things. What I liked was that it validated thoughts and questions I'd had for years.

"how can we all be so wealthy yet save nothing?" "How can we have had such a run up in home prices even though we haven't added that many people to the nation?" "How can inflation be officially low even though so many things have gone way up in price (food, fuel, insurance, education, health care, and even home prices till recently)". "How can we manufacture relatively little and sell each other services and still become more wealthy?" If that was possible I'd stay home and cook my wife meals while she mowed the lawn for me and we'd just get rich that way.

Maybe I just like how Schiff shares my natural pessimism and distrust of politicians being put in charge of our national statistics. But I used a simplified form of his advice, bought gold via ETFs, an international bond fund, with the balance in a treasury money market fund, and in just a few short months I've made quite a bit more than I did in any single year since I've been investing. And unlike in past years, I feel very confident that the trend in my investments is going to be up. The underlying economic picture simply demands that these products will do well.
Read more ›
3 Comments 148 people found this helpful. Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback.
Sorry, we failed to record your vote. Please try again
Report abuse
Format: Hardcover Verified Purchase
Peter Schiff, son of American patriot Irwin Schiff, has written a very useful book that can not only assist you to take the concrete steps necessary for financial survival, but also change your individual psychology toward the storm on the horizon that is rapidly gathering strength. Today, we have the illusion of prosperity, and the sooner we break through that delusional state, the sooner we can prepare for darker days.

At this point, there are so many possible triggers for the Second Great Depression, it's striking that it has not already begun. The sub-prime meltdown may just be such a trigger that brings down the house of cards, once it becomes more clear which entities actually hold all the risk created as part of the Housing Bubble. Wall Street, sub-prime lenders, and the large banks have been ingenious in their ability to push risk onto other parties, but it's not clear if the counter-parties will have the ability to weather the defaults. Thus, the risk may yet reside with the banks, which normally would have been more restricted in the number of loans they could create by more traditional standards. So much debt has been created, and so much risk obfuscated, that it is hard to imagine our present illusion of prosperity can be maintained much longer.

Mr. Schiff breaks through our modern mythology by shattering these illusions, and here is where he shines best. A bear's bear, Mr. Schiff steps down from the towers of the economic elite to provide analogies that can be readily digested by more casual readers. The analogy of the Asians and the American trapped on an island together is apropos, as it reveals much about the true state of international trade.
Read more ›
13 Comments 741 people found this helpful. Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback.
Sorry, we failed to record your vote. Please try again
Report abuse