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The Global Debt Trap: How to Escape the Danger and Build a Fortune Hardcover – December 7, 2010

3.9 out of 5 stars 7 customer reviews

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Editorial Reviews

From the Inside Flap

After the bursting of the real estate bubble, the United States plowed ahead with a monetary and fiscal policy that is, at best, a powerful drug to postpone an inevitable day of financial reckoning; and at worst, a deadly pill that creates a far deeper political and social disaster. What many world leaders are saying in private—but none admit in public—is that it was precisely that kind of policy and government interference in the market economy that caused the real estate bubble in the first place . . . and continues to drive the global economy from one bubble-and-bust cycle to the next. In The Global Debt Trap, Claus Vogt and Roland Leuschel show how we arrived at this unfortunate predicament, how our leaders have failed us, and how they are likely to continue to do so. They advocate the freedom of the individual and the capitalist economic system derived from it—and show how to prepare for the aftermath of years of government interference in the market economy.

In their 2004 German bestseller, Das Greenspan Dossier, the authors exposed, in great detail, how the monetary policies pursued by the former Fed chairman created an unprecedented real estate bubble. They showed how the bubble would inevitably collapse. And they predicted how that collapse would lead to a series of financial disasters of unthinkable dimensions. Now, they explain how the "cure" for the 2008 debt crisis that major sovereign governments have pursued—massive bailouts—will prove to be far worse than the disease. They explain how it has led to a new crisis, this time in the debts of the sovereign governments themselves.

Most importantly, they tell investors precisely what they must do to protect themselves and how they can turn the next, most shocking phase of this crisis into a major wealth-building opportunity.

From the Back Cover

Praise for THE GLOBAL DEBT TRAP HOW TO ESCAPE THE DANGER AND BUILD A FORTUNE

"This is among the most valuable and insightful works on the financial crisis and its ultimate consequences ever published. If you want to protect and grow your wealth even in the worst of times, heed the authors' warnings and seriously consider their recommendations."
—Martin D. Weiss, New York Times bestselling author

"Claus Vogt, who predicted the current crisis in his 2004 book, Das Greenspan Dossier, describes the current situation as a dance on the volcano. The government stimulus programs ignited a straw fire, which might last a bit longer, maybe until mid-2010. But after that, according to Vogt, the day of reckoning looms."
—Boerse ARD

"Being crash prophets is an ungrateful job. But Roland Leuschel has kept his aura since he successfully predicted the stock market crash of 1987. As chief strategist of Quirin Bank, Claus Vogt is allowed to freely tell what he thinks—exceptional latitude for a banker. The thesis of hyperinflation is very controversial, but the authors' lucid announcements are alarmingly plausible."
—Die Welt (major German newspaper)

"One should preferably read financial books from authors who have hit the bull's-eye before. That's the case with Claus Vogt and Roland Leuschel. Both are proven realists. The Global Debt Trap is easy to read and inspiring. Was the Madoff scam the largest con ever? No, say Leuschel and Vogt, it was only the largest con not conducted by a government."
—Bruno Bandulet, G&M

Nearly every advanced industrial nation on Earth is now ensnared in the greatest debt trap of all time. The Global Debt Trap—a German bestseller—details the causes of our current economic crisis and argues that political mismanagement has endangered finances, health, and, in extreme cases, democracy itself. The authors remind us that the bigger the crisis, the greater the opportunity for those who can prudently prepare ahead of time.

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Product Details

  • Hardcover: 230 pages
  • Publisher: Wiley; 1 edition (December 7, 2010)
  • Language: English
  • ISBN-10: 0470767235
  • ISBN-13: 978-0470767238
  • Product Dimensions: 6.3 x 0.8 x 9.3 inches
  • Shipping Weight: 13.6 ounces (View shipping rates and policies)
  • Average Customer Review: 3.9 out of 5 stars  See all reviews (7 customer reviews)
  • Amazon Best Sellers Rank: #650,987 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

Format: Hardcover Verified Purchase
This book presents a comprehensive overview of fiat money problems from the past (Weimar Germany) and what is ahead from the massive debts accumulating by USA, Britian, and Japan. The book predicts that governments are guranteeing a further dramatic acceleration of the global financial and economic crisis due to massive debt. The book forecasts additional social unrest and international tensions as a consequence of the global debt. The book recommends that you be self reliant with your investments and that if you have mutual funds be very careful of their associated costs and that you stay flexible and this is not an environment for buy and hold strategies and finally, don't hesitate to make radical portfolio changes.The book demonstrates that stocks have historically been a poor investment to stay ahead of hyperinflation, but of course better than bonds and cash. The book also suggest only buying stocks when the P/E ratio is 10 or less and considered the US Stock market extremely overvalued when he wrote this mid 2010 (so if you followed the advice you would have missed the substantial increase). The book's number one rule; Avoid major losses during market downturns (like buy low, sell high?) The second rule, You must be flexible when selecting investment classes--not just stock and bonds, but also precious metals and other commodities, foreign currencies, and inverse instruments. The book recommends that your portfolio be at least 25% gold and precious metals. Overall, this book presents a good overview of fiat money problems, but does not deliver on any specifics on how to "escape the danger" and "build a fortune". You are better off reading Peter Schiff's book, Crash Proof 2.0 and/or Charles Goyette's The Dollar Meltdown.
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Format: Hardcover
It is passed due for a German Economist's view on the current global crisis to hit America with a large scale publishing.
To anyone who wants a clear cut vision of what the future holds for the global fiat monetary system this book is a must read. The fact that this book comes from the words of men who's ancestors had to deal with extreme hardships of German Hyperinflation in the 1920's, makes it a credible source on outcomes of state controlled monetary indoctrination.(AKA 2010-The FED)
We are in the eye of the storm of America's great cloud that hangs for the future. I feel that this book does a great job of enlightening the reader on just how serious the problems (can) and (most-likely) will be.
Unbelievably well written book that is easy to understand for the new comer of economic reading, yet packed with alot of clear thought and probable visions that help the experienced come to a better understanding of how economist from around the world are perceiving the problems that we all face in retrospect to the mismanagement of America, and all fiat monetary systems around the world.

Also this is one of the most current economic preparation books out so plenty of info on QE's and all the latest of bubble building techniques the state is playing with to make Alice's hole to Wonderland that much bigger........
A must read.
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Format: Hardcover Verified Purchase
This book takes a look at the deficit spending(quantitative easing)mostly by the US Government and the likely consequences of just printing trillions of dollars. The printing of money has happened many times before and has never been successful in avoiding a financial collapse. So is it going to be different this time? Or does the government know what it is doing? Pretty frightening future with the dollar declining rapidly in value.
This is a well written book that is easy to read and pulls no punches. If you have any interest at all in our future go buy it.
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Format: Hardcover Verified Purchase
Good common sense financial truths which we don't read or hear about in the mainstream media, or from our so called responsible politicians. From writers with a proven track record of seeing things as they are not as they want them to be.
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