The Coming Collapse of the Dollar and How to Profit from It: Make a Fortune by Investing in Gold and Other Hard Assets

by James Turk, John Rubino

The dollar is in trouble. It has fallen against other currencies for the past three years, and now its orderly retreat could well become a rout. This spells potential disaster for the American economy—and potential riches for a few smart investors. In The Coming Collapse of the Dollar and How to Profit from It , financial gurus James Turk and John Rubino show how the dollar arrived at this precipice, why it will plunge, and how you can profit from the resulting financial crisis.

The U.S. today is the world’s biggest debtor nation, printing money with abandon to sustain the illusion of prosperity. The federal government owes $7 trillion and its debt is soaring. As a society, we owe more than $37 trillion, or about $500,000 per family of four. Our trade deficit with other countries is staggering, and to finance this mountain of debt we’re flooding the world with dollars. The inevitable The dollar will decline until it is displaced as the world’s dominant currency. Precious metals will soar in value, and gold will reclaim its monetary role at the center of the global financial system.

Traditionally a haven during times of uncertainty, gold has risen dramatically since 2001. By the fall of 2004 it was up by nearly 50 % , at over $400 an ounce. But this is just the beginning.

James Turk, a leading gold authority and the founder of GoldMoney.com, and veteran financial writer John Rubino, show readers how to capitalize on gold’s dramatic climb. In The Coming Collapse of the Dollar , Turk and Rubino reveal which stocks and bonds will falter as the dollar declines and why that decline is virtually inevitable. They offer strategies for using gold coins, gold stocks, gold-based digital currencies, and other hard assets to create a profitable portfolio. And they explain how to make the most of your gold and other precious metal holdings, identifying the opportunities and pitfalls of buying gold mining stocks and the mutual funds that invest in them.

America’s debt binge has put its economy at grave risk. The value of the dollar is falling; many stocks are once again wildly overvalued; and bonds, tied to an ever-diminishing dollar, are a disaster waiting to happen. By investing in gold and other hard assets, Turk and Rubino explain how you can protect yourself from these dangers.

The Coming Collapse of the Dollar and How to Profit from It is a must read for every investor, whatever the size of his or her portfolio.

For more information, visit www.dollarcollapse.com .

Genres: Economics

240 pages, Hardcover

First published January 1, 2004

About the author

James Turk has specialized in international banking, finance, and investments since graduating in 1969 from George Washington University with a B.A. degree in International Economics.
He began his business career with Chase Manhattan Bank (now J.P. Morgan Chase), which included assignments in Thailand, the Philippines and Hong Kong. In 1980 he joined the private investment and trading company of a prominent precious metals trader. He then moved to the United Arab Emirates in 1983 to be appointed Manager of the Commodity Department of the Abu Dhabi Investment Authority, a position he held until resigning in 1987 to begin Greenfield Associates. He established the firm to publish his work and to provide investment research and trading advice, principally to investment managers, hedge funds and commodity trading advisors in the United States and Europe.
James is the founder of goldmoney.com, which he established in 2001 to provide a convenient and economical way to buy and sell gold, silver and platinum online using the digital gold currency for which he was awarded four US patents. He is the Lead Director of Goldmoney Inc., which is listed on the Toronto Stock Exchange (symbol: XAU).
James has written several monographs on money and banking. He has frequently appeared as a featured guest on radio and television and at investment conferences to speak about gold, money, and the international monetary and banking system by drawing upon over five decades of experience in international finance.

Reviews

[RebL · Rating 1 out of 5]

This is the kind of financial advice book that "How to Profit From the Coming Rapture: Getting Ahead When You're Left Behind" is making fun of. Suggested to me by the library catalog when I couldn't find the first book in the collection, I picked it up to see how the dollar had been expected to collapse 19 years ago, and what they suggested we do about it.

I can sum up the thesis of the whole book in two words - "buy gold". Maybe some other precious metals such as silver, too. But mainly, gold. It talks about "fear buying" but I can't help but think that's this book is selling gold and fear.

Written by a guy whose LITERAL JOB is selling gold...I'm honestly surprised he didn't print a copy of his business card into each and every copy...and another guy who runs a self-described "gloom and doom" website, this book I'm sure read completely differently in 2004, in the immediate shadow of the post-9/11 economic downturn, than it does now.

This whole book - [citation needed]. It spouts lots of facts, but no footnotes and only the most vague of references.

Three stars for some interesting historical data and for correctly foreshadowing the 2008 housing collapse. Negative-two stars for continuing to harp on how gold is the "only real money" for pages and pages and pages and pages and pages because that got real boring real fast. I just checked Turk's Twitter for funsies and it's all the exact same stuff, still. If it turns out ultimately he was right and the dollar does crash into worthlessness as he predict(ed in 2004 was going to happen imminently)s, I'll give him the benefit of the doubt, but for now he just sounds like a Chicken Little who has expected the sky to fall for the last two decades.

[Lan-Anh (Vivian) · Rating 3 out of 5]

Công bằng mà nói thì quyển sách này không quá đặc sắc. Thông tin cung cấp chủ yếu xoay quanh chế độ bản vị vàng, và lí do dẫn đến sự suy yếu của đồng đô la hiện nay là việc tất yếu khi chế độ này ko còn đc duy trì. TQ và Ấn Độ đã đông dân, lại còn rất ưa chuộng vàng, dẫn đến việc họ là 2 quốc gia tiêu thụ vàng lớn nhất trên thế giới.

[Anthony · Rating 4 out of 5]

Great book to read if you want to learn about the situation the United States is in now and how gold will increase in value in the future. Intersting analysis of the US dollar and how/why it is declining.

I was amazed to see how much gold has increased since it was taken off the gold standard and am excited by its future prospects. China and India are major consumers of gold and as their economies and populations grow so too with their gold appetite.

[Jeff R. · Rating 4 out of 5]

This is an important read for anyone worried about the federal reserve's policies. The commentary on the history of money and currency and how they correlate with the rise and fall of governments throughout history is very interesting.

[Sebastien · Rating 3 out of 5]

Not too bad, some interesting info on the monetary system. But a lot of this book just reads like one-sided non-stop advertisement for gold (which I guess it is). There is a good section though on mining companies, which I found to be useful.

[David · Rating 4 out of 5]

Good overview of the US monetary system and one solid theory why we're in the current mess we are.