The Money Bubble Author: Visit Amazon's James Turk Page | Language: English | ISBN:
1622170342 | Format: PDF
The Money Bubble Description
Review
"The best book I've read on the history of money, where we are now, and what it all means for your future."
(
Daniel Ameduri, Future Money Trends)
Turk Rubino have done it again! Crisp writing and excellent storytelling illuminate the causes of our inevitable monetary crisis.
(
Chris Martenson, Ph.D. & Adam Taggart, PeakProsperity.com)
I wholeheartedly endorse the
Money Bubble's main thesis that a major currency crisis is coming and you need to protect yourself from it. Two thumbs up. (
Mike Shedlock, Mish's Global Economic Trend Analysis)
Turk and Rubino are definitely not "fringe" characters. They have worked with one foot in the mainstream for many years. But they have remained independent and unencumbered by an establishment that has selfishly thumbed its nose at honest money in favor of a monetary system that transfers wealth from those who make it to parasitic bankers and politicians who consume it. If you really want to know why we are in trouble, what is likely to happen and how you can protect yourself "The Money Bubble" is a must read!
(Jay Taylor, publisher of J. Taylor's Gold, Energy & Tech Stocks Newsletter)
About the Author
James Turk and John Rubino are the co-authors of The Coming Collapse of the Dollar and How To Profit From It: Make a Fortune by Investing in Gold and Other Hard Assets (Doubleday, 2004). James Turk is the founder and a director of GoldMoney, a Jersey, Channel Islands company and a leader in online gold trading. He is also a director of the GoldMoney Foundation, a not-for-profit educational organization dedicated to providing information on sound money. After beginning his business career with The Chase Manhattan Bank (now JP Morgan Chase), he went onto manage the Commodity Department of the Abu Dhabi Investment Authority, that country’s sovereign wealth fund. He is the author of several monographs and numerous articles on money and banking. He and his wife live in London, England. John Rubino runs DollarCollapse.com, a popular financial website, and contributes regularly to CFA Magazine. His previous books include Clean Money: Picking Winners in the Green-Tech Boom (Wiley, 2008), How to Profit from the Coming Real Estate Bust (Rodale, 2003) and Main Street, Not Wall Street (Morrow, 1998). After earning a Finance MBA from New York University, he spent the 1980s on Wall Street, as a Eurodollar trader, equity analyst and junk bond analyst. During the 1990s he was a featured columnist with TheStreet.com and a frequent contributor to Individual Investor, Online Investor, and Consumers Digest, among many other publications. He lives in Idaho with his wife and two sons.
- Paperback: 352 pages
- Publisher: DollarCollapse Press (January 2, 2014)
- Language: English
- ISBN-10: 1622170342
- ISBN-13: 978-1622170340
- Product Dimensions: 9 x 6 x 1.1 inches
- Shipping Weight: 1.2 pounds (View shipping rates and policies)
A very readable book, especially considering how much material it covers.
The book is divided into four parts. Part I explains what a precarious situation the Western financial world is really in, due to “papering over” crisis after crisis with increasing amounts of debt and fiat currency, yet without actually fixing anything. If you’re fairly new to this, Part I will alert you to some major risks (but in plain, rather than alarmist, language). If you’re already somewhat worried, you’ll wish you could make your friends and relatives sit down and read this section, because it lays out the dangers nicely.
Part II explains some of the consequences of all this unfettered debt and currency creation, which go beyond what’s traditionally thought of as economics. There’s the burden of inflation (largely hidden and denied), and the perils of rising interest rates, both of which are well described. But it also discusses increased corruption, an ever-expanding (because easily funded) military-surveillance state, manipulated markets and a resultant loss of trust, and a level of societal complexity which is not sustainable and will end unpredictably (but badly). That’s just a partial list. People who think they’re not interested in economics might be a lot more interested if they understood how “easy money” plays into many of the issues they care about.
Part III highlights some of the features of our slightly bizarre financial system, necessary knowledge for understanding how to protect oneself.
I greatly enjoyed the book. It was well written, entertaining, informative and thought provoking...but I have a hard time believing the authors' vision of the next ten years.
Yes we are in debt up to our eyeballs, yes we are printing money like mad, yes governments lie about statistics and other things...but I'm not sure it is going to lead to the crack-up boom as described and I'm not sure catastrophic collapse is a possibility within the next few years or so.
The chapter on how the most basic US government statistics of unemployment and inflation were understated was fascinating. I knew about them, but the implications were not clear until this book.
The segment on how the gold market was manipulated was well written and I had never heard of it until this book, frankly. That was eye opening.
Fractional reserved banking was a mortal sin in this book as was central banking in general. Von Mises, Rothbard, Ron Paul et al were weaved throughout the pages. I don't quite buy into their black and white view of the world. Yes I want smaller and more efficient government and yes I want the Constitution to drive many decisions politically. But the Constitution was made by men and wasn't perfect (remember 3/5ths).
That said, when you predict the end of an era---in this case a dollar denominated one---there are times when I thought the authors went overboard. The Epilogue reads like an Ayn Rand novel to me. No, I don't think precious metals will lead us to smaller banks and the end of our military empire.
Interestingly, the main purpose of the book was to provide investment advice. All the material discussed above was primer for understanding how to get wealthy during the coming collapse of the dollar.
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