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Crash Proof 2.0: How to Profit from the Economic Collapse

3.86  ·  Rating Details ·  644 Ratings  ·  43 Reviews
A fully updated follow-up to Peter Schiff's bestselling financial survival guide-Crash Proof, which described the economy as a house of cards on the verge of collapse, with over 80 pages of new material The economic and monetary disaster which seasoned prognosticator Peter Schiff predicted is no longer hypothetical-it is here today. And nobody understands what to do in thi ...more
Hardcover, 364 pages
Published September 1st 2009 by Wiley (first published March 27th 2007)
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Michael
This book offers a mixture of sound analysis and terrible misinformation, so much that it's hard to know how to begin a review. Schiff is head of a brokerage called Euro Pacific Capital and an advisor to Ron Paul. The first edition of this book was written in 2006, and the original text remains in the "2.0" version, with an update tacked on to each chapter in 2009. When painting with broad strokes about economic forecasting, he has an impressive track record. On the details he can be abysmal.

Sc
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Shea Mastison
Mar 28, 2013 Shea Mastison rated it liked it
Peter Schiff is a fascinating guy; I've seen pictures of his father, who according to some of my friends on Facebox, was put in prison for refusing to pay taxes--Irwin Schiff, was/is his name, apparently. Personally, I've never understood how or if the anti-tax crowd actually expects a refusal of payment to stop the IRS from putting them in a cage....

Anyway, Schiff wrote Crash Proof just before the stock market crash and recession of 2008. In it, he essentially gives a step-by-step breakdown of
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Marcus
Aug 30, 2010 Marcus rated it it was amazing
Recommends it for: Everyone
If you have any money, at all, you should read this book. The sooner the better. If you don't have any money you should also read this book.

There are a few reasons reading Crash Proof might not appeal to you:

-Peter Schiff is a somewhat controversial name in the investing world.
-Peter Schiff is a libertarian
-You never read non-fiction
-You never read investing books
-You never read business or economics books
-You don't have any money right now
-You're an optimist
-Etc.

All of those reasons are valid a
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Nathan
Nov 17, 2009 Nathan rated it it was amazing
This book is essentially the same as the original Crash Proof, but has 2009 updates at the end of every chapter. It's really a "see, I told you so" kind of book. Schiff predicted the housing nightmare back in 2006. He was right! When the so-called experts say that nobody saw the crash coming, they are lying. Schiff explains the hows and whys in this book. Everyone who appreciates their money should read it.

If you thought the housing bust was bad, you ain't see nothing yet! Now is the time to pre
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Brian
Feb 05, 2016 Brian rated it it was ok
Peter Schiff is a fascinating individual. I heard Schiff first when he appeared on the Joe Rogan podcast and a lot of what he said reined in with me and what I had been saying for years. I then listened to his podcast and I finally had a "financial guy" that I could start learning the market or at least start learning some financial terms from a guy I agreed with politically. His podcast is great, his interviews are great and he really stirs the pot going against the mainstream mores of other ad ...more
Mark Geise
Feb 10, 2015 Mark Geise rated it it was amazing
“Crash Proof 2.0: How to Profit from the Economic Collapse” is a great elaboration of what Peter Schiff said leading up to and following the financial crisis of 2008-09. “Crash Proof 2.0” contains the entire original “Crash Proof” book with 2009 updates at the end of each chapter. This allows the reader to see what Schiff originally wrote and wrote he refers to in his 2009 updates. Though this book is now dated, the advice Schiff gives is still generally relevant. He has a long-range outlook and ...more
Jeb
Feb 13, 2011 Jeb rated it liked it
Schiff is thorough, if a bit repetitive, in describing the problems facing the US economy. He spends the first seven chapters explaining, piece by piece, the various underlying instabilities in the US economy, why they matter, and what is being done to make them better or worse (worse, in most cases). It's written at a level that should be accessible to most readers. I'm an engineer, with no background in high finance, but I was easily able to follow along.

The final three chapters lay out a plan
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Kim
This book was more useful than I expected in terms of understanding investment options in different economic scenarios, including foreign currencies or stocks.

This "2.0" version takes the book Peter Schiff wrote in 2006 (when he not only predicted the housing bubble but clearly explained why we would see an associated financial crisis and recession), then adds an updated section at the end of each chapter written in 2009. His writing style includes a very understandable explanation of Austrian
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Luke
Jun 07, 2010 Luke rated it it was amazing
If I'm going to listen to someone talk about the economy, I'd prefer to listen to someone who's been right in the past. No one has been more right than Peter Schiff. Take a look on YouTube to get an overview of his oracle-like predictions in the past several years.

To sum up his investment advice, he recommends foreign stocks, gold and silver, and stocks of mining companies, all to protect the investor against the chronic devaluation of the dollar due to money printing - currently branded as "sti
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Don
Jul 15, 2012 Don rated it liked it
To be honest, I have mixed feelings about Schiff's book. While he does have some kernels of wisdom and truth in his text (inflation, production, etc..), he often seems to be more concerned with promoting his own self and his business, particularly towards the end of the text. And while I recognize that this was written a couple of years ago, his assertion that the Euro will become the dominate currency is questionable.

The writing style is fair. While easy to read, Schiff repeats himself often a
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Stephen Cronin
Dec 31, 2011 Stephen Cronin rated it really liked it
Peter Schiff isn't the best writer, but he's a damn good economist. Following the Austrian theory, this book outlines explanations for recent American economic crises AND demonstrates why the worst economic days are within our near future. The book suggests the purchase of various foreign stocks, shares in mining companies, & protecting one's purchasing power by converting dollars into gold and silver.

This isn't the easiest book to understand if the reader isn't familiar with economics. I w
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Dave
Jun 20, 2012 Dave rated it liked it
Shelves: non-fiction
Schiff wrote a very insightful analysis of the state of the economy. He predicted the crash in the housing market when the prevailing thought was that the housing market was healthy and things were great. I really liked his commentary on the dangers of debt. Going into debt for the purpose of consumption will never lead to prosperity. I was a little disappointed with Schiff's recommendation for to how to get through the crash and thrive; just become a client of his own investment firm. It made t ...more
Sam
Jul 22, 2011 Sam rated it really liked it
Peter Schiff predicted the housing finance crisis in the original (2006) Crash Proof. This book repeats the material in the first Crash Proof and adds 2009 comments and updates, predicts that the dollar will collapse and provides advice about how to invest for the crash.
Paul
See my review on the original version of this book. The historical aspect of this book is interesting, and the updates inline with the original text was fascinating. But there's certainly no need to read both versions. Just read this one.
Malloreon
Sep 30, 2015 Malloreon rated it really liked it
I loved this book; Peter Schiff was on the money!
James
Feb 29, 2016 James rated it really liked it
After reading this I believe I have a better understanding why our economy is in such a mess. Also, it gives you ideas on how to diversify your portfolio to reduce your risk of a Dollar melt-down.
Isambard Growett
Sep 25, 2015 Isambard Growett rated it it was amazing
Gives an alternative view of the economy.
Viraj
Nov 30, 2011 Viraj rated it liked it
Shelves: finance-etc
The author indicates that due to the ratio of debt to savings / production is rising for both the individual citizens and the US as a country, the doom is guaranteed. The dollar is a fiat currency (not backed by gold reserves anymore since 1970s (Nixon admin)) and when the dollar owned and debt sponsored by foreign countries (China and Japan) is to be repaid the US dollar will loose value once the countries stop sponsoring the US habits of consumption. The author says that US should go back to t ...more
John Boettcher
Aug 09, 2013 John Boettcher rated it really liked it
This book is kind of like the easy reader and precursor to The Great Deformation: The Corruption of Capitalism in America. Schiff lays out, as he always does, how we got to where we are economically with the most easy to understand analogies of any economic writer out there.

Austrian School fans will be happy with this one and it is one of those books that is easy to read, and will make sense to you, as opposed to all of those talking heads you hear about on all the financial news networks or th
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Izzy Spear
Sep 10, 2013 Izzy Spear rated it really liked it
I listened to this while driving to Oregon and back and I learned quite a bit about what constitutes good national financial health. I feel his doom and gloom is overstated (at least in the short run) but the trends he predicts are accurate. He wrote it in 2006 and though some of it has actualized, it was not to the degree he indicated.

He basically says, our dollar is due for a devaluation in the world market once foreign creditors (most of our credit in this nation) realize that we cannot back
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Emily Tsesmeloglou
Feb 22, 2013 Emily Tsesmeloglou rated it really liked it
Shelves: political
I really like Peter Schiff already, and I think hearing him read this book in my mind made it a lot more entertaining and enjoyable. I knew practically nothing about the stock market before reading this book, but I think he did a good job explaining it simply for people like me who have little education in the stock market and, being publicly educated, economics in general. We plan on implementing at least some of his advice as it seems pretty obvious that the US economy is unsustainable.

One com
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Mike Gibbs
Oct 28, 2011 Mike Gibbs rated it really liked it
Shelves: listend-to
Crashproof 2.0 was a very insightful book with a unique perspective on investment and economics. Schiff's approach to investing is a refreshing change from what is usually found in investing books. His focus is not on making the most money as possible as it maintaining purchasing power, which as he slowly spells out, a very different thing.

The book first takes a seemingly winding path through Schiff's thoughts and beliefs and then ends with the practical investment advice that those beliefs poin
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Ob-jonny
Jan 08, 2012 Ob-jonny rated it it was amazing  ·  review of another edition
The original version of this book predicted the housing bubble and financial crisis and this is an updated edition which has commentary and insights from 2009. It challenges conventional wisdom about the Federal Reserve and inflation. It's so important to get a range of views about these types of issues and I think that Peter Schiff's views make a lot of sense. The real situation seems to be best depicted by a mixture of progressive and Libertarian views like Schiff's. He also has great insights ...more
Benedict
Mar 03, 2011 Benedict rated it it was ok  ·  review of another edition
The problem with this book is that the author makes "hundreds" of predictions, promising that each one will follow the other.

Well, it is hard enough to predict the next day in the stock market, and *nobody* can predict one thing after the other and expect me to take notes and depend on it.

I do not question Peter Schiff's integrity at all, but he has a strong financial interest in selling gold and special locations for investments such that I do not believe he could suddenly admit he was wrong an
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Tom Vogt
Nov 19, 2011 Tom Vogt rated it it was amazing
Excellent perspective on the economy today, and the impact to the future of our economy based on the turmoil from 2007. Although his analysis was written prior to the current European dept situation, his analysis covers the dept contagion situation as well. This is a must read for anyone wanting to better understand the macro elements impacting the economy, and for investors wanting to better position themselves to capitalize on these changes in the future.
Cheree
May 24, 2010 Cheree rated it really liked it
For the past 2+ years, I have cringed every time an economic stimulus bill has passed through the White House. I don't think you have to be a rocket scientist to realize that spending money doesn't get you out of debt. I grew up with very little, but I was taught the value of a dollar and that you can't buy things if you don't have money. End of story.

Read more here.
J Yakel
Very informative on how our country has arrived at the current economic turmoil and what we have to look forward to or not in the future given our government's response to the problem. The last chapters provide helpful investment advice but the advice is only applicable with people who have tens of thousands of dollars to invest.
C.J.
Jul 25, 2011 C.J. rated it it was amazing
All Americans should be required to read this book.

It only has a few updates in it from the previous version, but it, nonetheless, hits the sweet spot into all that is effecting our country today. One can only hope that Schiff and people with the same Austrian economic background find their way into Congress. It's our only hope of getting out of this mess!
Walter Straus
Jun 06, 2012 Walter Straus rated it really liked it
I give this a 4 because he does a great job of telling us why we are in such an incredible financial mess. However, the second part - where he tells us how to invest to avoid personal disaster is severely lacking.
Mario
Oct 25, 2011 Mario rated it really liked it  ·  review of another edition
I liked this. Very educational. A bit too much on the self-promotion, but I guess the guy gets beet up a lot by his peers. Not sure if I'm prepared to do some of the more extreme things he suggests but I'm definitely scared.
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Peter David Schiff is an American investment broker, author, financial commentator, and was a candidate in the 2010 Republican primary for the United States Senate seat from Connecticut.

Schiff is CEO and chief global strategist of Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut and CEO of Euro Pacific Precious Metals, LLC, a gold and silver dealer based in New York City.
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More about Peter D. Schiff...

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