Peter Schiff is a professional doomsayer who strongly makes the case that the American economy is going to hell in a hand basket. Fast.

He lays out this case in his book, CRASH PROOF. Given the backdrop of recent months, it is hard to say he is wrong. The book came out @ February of 2007 so Schiff is prescient in a number of realms.

If doom and gloom is your cup of tea, you have come to the right book. Schiff sees over consumption, inflation and misguided government policies as providing a recipe for economic and financial disaster. My gripe is that the book's title oversells and does not really constitute truth in advertising. I estimate that only about one-fourth of the book is prescriptive in offering ways to "crash proof" yourself and your finances. Schiff's solutions revolve around three themes: invest in foreign securities, buy gold and maximize your liquidity.

It just so happens that Schiff's firm can address the foreign securities need and he peppers his final chapter with "plugs" for his investment company.

Peter Schiff has a remarkable track record for divining the future. His videos, available on Youtube, display back bone and wisdom in standing up to the tide of popular opinion. The guy shows poise and self control in the face of overwhelming contrary positions. I too held the same opinion, "The economy is in trouble!". I wasn't sure what to do about it. And it was through a chance hit, that I discovered Peter Schiff. Unlike me, Peter has the answers to, "What do you do to protect yourself?" I don't agree with all of Peter's conclusions, but the book served as a catalyst and platform for further thinking on the subject. I adopt the strategies of Peter's that I like and was able to think of additional things that I wanted to do. Thanks Peter. Great book. Did you collect your "penny" from that snob? (One of the tube videos)

I read the book and invested my IRA in his firm. My life's saving was invested into a "Capital Secured" manner. I lost 40%. His book and his advice are hog wash.

First, this book has the wrong title. The majority of the book's argument and purpose is to explain how fragile the US economy is and how the indications of failure are just the beginning of a larger dollar collapse and implosion of our economy. Since we aren't crash proof, the idea is to move your assets into precious metals, foreign stocks, and liquidity for quick strikes on opportunities. It's a radical thought that may have value in these increasingly radical times.

If you follow this investment advice in early 2008 you could lose 50~60% of your money. Unfortunatally I did. So be careful!

One has to remember when reading this that this book was written in 2006. It describes almost prophetically in a clear and engaging argument what is happening in the current world economic crisis. Well written, well researched, thoroughly educational and entertaining to read.

This book is one of only a handful that predicated the economic crisis we are now in. There is much valuable insight for investors on the factors leading up to this crisis. That is about %80 of the book and deserves 5 stars. But the book should have ended there. The last %20, his suggestions for protecting yourself, are fatally flawed. There is no such thing as "crash proof" portfolio. With globalization, the stock markets and even currencies and gold are too interdependent for his advice to provide any protection. I believe people who take his advice could lose a lot of money.

There are also some other comments that are questionable. For example, putting blame on unions for some of our economic problems when in reality unions have been so weakened since the 1980's they have had no effect, good or bad. Also, he is critcal of consumers for not saving enough yet goes on to approve of replacing social security with private accounts. How much more of a disaster this market meltdown would be if that privatization had taken place!

This book is one of only a handful that predicated the economic crisis we are in now. There is much valuable insight for investors on the factors leading up to this crisis. That is about %80 of the book and deserves 5 stars. But be cautions on the last %20, his suggestions for protecting yourself. There is no such thing as "crash proof" portfolio. And with globalization, the stock markets and even currencies are so interdependent that you might do even worse in my opinion taking his approach of moving into gold and foreign stocks. My observation of the last few years is that when the US markets drop, foreign markets drop even more. And the movement of gold is about as hard to predict as interest rates.

There are also some other comments that are questionable. For example, putting blame on unions for some of our economic problems when in reality unions have been so weakened since the 1980's they have had no effect, good or bad. Also, he is critcal of consumers for not saving enough yet goes on to approve of replacing social security with private accounts. How much more of a disaster this market meltdown would be if that privatization had taken place! However, the minor disagreements do not detract from his accurate, overall diagnosis of our economic problems.

I read Peter Schiff's book at the height of the dollar drop and thought I'd invest in gold and the currency fund he recommends. Instead, I lost money as the prices for commodities and energy plummeted and the U.S. dollar rallied. Now Europe looks as if it is worse off than the U.S. in terms of bad debt. Schiff argues that the U.S. is a doomed regime propped on worthless currency, but he hasn't thought through the consequences - Europe and Asia have thrived on the same currency he denigrates. When America sneezes, the world gets pneumonia, and it looks like investing in non-U.S. currency and gold is no safe haven. His predictions may come true in the long term (who knows?), but for now I'm taking a wait-and-see attitude in view of the turbulent markets. Anything is possible, no investment is safe, and to boil everything down to bad America - good Europe and Asia is too simplistic. What I've learned from this experience is that no economist is a psychic and Schiff can be as wrong as much as he is right.

The biggest piece of junk I've read in a long time. I can't believe this thing has 4.5 stars.

I read this very interesting book a couple of months ago and was surprised to see it climbing the charts again. The topic is certainly timely and much needed however...

While I agree with the Lion's share of the advice (and the author is more competent in these matters than I) contained therein, I struggle with accepting his advice in precious metals and foreign markets. As I believe, the foreign markets still reflect the good `ole USA at this time, I just cannot trust them. In addition, gold is too volatile for my needs at the age of 52. Of course, the book speaks loudly about age and options.

Everything else I believed was right on target therefore I give it a 4 star rating. I hope you found this review helpful. Michael L. Gooch, SPHR - Author of Wingtips with Spurs: Cowboy Wisdom for Today's Business Leaders.

I'm a complete novice to finances. Or at least I was before I read Crash Proof. It made all of those fancy stock market terms easy to understand. I was already anticipating some kind of crash because Ron Paul was saying it was coming, and he's been right every time! But this book made the coming crisis more scientific.

Also, the part about Gold is genius. Get gold! GET GOLD!

I read "Crash Proof" in one day yet I'm not an investor. I think the concern that Mr. Schiff is using his book to promote his company's line of investment products is a valid one. On another note, there is a glaring error on page 224 of the hard cover edition. He writes, "My favorite way to buy silver is just to buy junk silver ... minted before 1968. They [the coins] are 90 percent silver." Wrong. Only the coins minted before 1965 are 90 percent silver. A quick visit to any of the Junk Silver web sites will confirm it. I wonder if the book contains other errors?

This is an excellent book. It is very easy to understand and explains what is happening with the economy and how to protect your money. I believe it is a necessity in these troubled times.

Shera RAel

I bought this book when I was somewhat zealous of gold and the potential of an economic collapse. You can get a feel for the nature of this book from its title "how to profit" from the coming economic collapse. This is not a book about political or economic theory. It is an emotionally stirring book that directs you toward investing a) in gold and b) in foreign stocks. Schiff even advises borrowing at a fixed rate to invest in gold and foreign stocks to beat the rate difference, setting up a mini hedge fund with your personal equity.

I already had bought some gold and was looking for a clearer picture. I only found the same radical rhetoric typical of "gold bugs" - that Gold has value as money and nobody knows about it and when the dollar busts Gold is going through the roof.

The problem with this rhetoric is obvious in retrospect. Gold is not used as money anywhere in the world, nor is there any serious "back to gold" movement. Gold moves up when there is uncertainty and "flight to quality," but that is a reflection of "perception is reality" (ie. gold is also a form of illusory wealthy that can be stripped in an instant) and mass psychology. It is not because of any intrinsic value gold has as money.

That is gold will go up, but won't skyrocket. It is a gamble and it is uncertain. It trades like a commodity and can act as a hedge against inflation. It is not, however, a bedrock inflation free currency as Schiff and other gold bugs would like to present it. Gold has no academic followers and fiat currency works fine when it is managed right. A return to gold money is as likely as a return of the U.S. to libertarianism and the constitution.

Schiff's second play, is foreign stocks. According the Schiff the best and cheapest way to buy these is through his brokerage firm. I don't know much about buying foreign stocks and Schiff didn't give much advice. Just give his brokerage firm a call. Schiff barely acknowledges that we live in a global economy so much so that a failure in the U.S. will lead to a failure overseas regardless of what sort of business you choose.


The U.S. dollar holds up the entire world economy, if it fails then everything fails.

The world is ending so you should buy gold and foreign stocks.

The substance of this book is nothing more than a shill for Schiff's company (the intro was nicely written though).


I have to add that I met Schiff personally (when I was more zealous of libertarianism) and did not like him. He did not come near my expectations, just like Ron Paul. Libertarianism has no soul. That is my opinion.

If the world is really ending give up all your money and follow Jesus Christ.

The pessimism you find in Schiff's books is really found in your own soul and no amount of money will save you.

For what does it profit a man to gain the whole world and forfeit his soul?

Acts 17:30-31, "The times of ignorance God overlooked, but now He commands all people everywhere to repent, because He has fixed a day on which He will judge the world in righteousness by a man whom He has appointed; and of this He has given assurance to all by raising Him from the dead."

Today I watched Peter's cogent and ever-consistent message concerning the economic crisis we're in (CNN 10-4). Contrast that with Stephen Leeb's naive view on how the bailout is a must need for us: "the house is already on fire." Well, I'd agree with Dr. Leeb but the last thing I'd be doing now is giving more power to the arsonist (the FED and the government). I've found that one of the best ways of determining the efficacy of any theory is to see how it's predictions align with reality. From that perspective, Schiff has been spot-on throughout (as exemplified in CRASH PROOF), all the while facing CONSTANT derision from a never-ending stream of idiots paraded in front of our tv screens as expert minds. Dr. Leeb's website reveals his own misunderstanding of our situation as recently as his 2008 market outlook: "Looking ahead, we can't help but be somewhat optimistic. The stock market itself is perhaps the best indicator of what's happening in the economy, and the message it's throwing off is fairly bullish.".

Leeb typifies the same people who never saw the severity, much less the cause, of the issue..when it became too big to Pollyanna away, they blindly promote solutions that will invariably lead to even greater and more certain disaster.

In the spirit of analogies, I liken our economic situation to a pot of chili simmering away on a stove. The privileged among us (the FED cowards and affiliated Wall Street beneficiaries) indulge until there's half the pot missing. They then add water--taken from OUR own well --(liquidity) to try and put back what they stole away with initially. These idiots would have us believe that adding a gallon of water to the remaining chili would somehow leave it spicier!

HERE IS WISDOM--IF YOU WANT TO BEST PREPARE YOURSELF FOR THE CERTAIN & COMING PURGE OF OUR ECONOMY, CRASH PROOF IS A MUST READ!!

In all, I'm SO THANKFUL that we have a voice in the wilderness like Peter Schiff! Peter, you and your father are TRUE AMERICAN PATRIOTS and this nation owes you a sincere debt of gratitude! Thanks so much & God Bless you/r family!

What does Peter Schiff, Ron Paul and Al Gore have in common? All three of them got ridiculed for speaking inconvenient truths.

Al Gore was ridiculed when he spoke of Global Warming, but it didn't take long for the public to wise up and award him the Nobel Prize - while President Bush lead us towards environmental and economic melt down.

During the 2008 political debates, Ron Paul spoke of reducing the size of government, restoring the dollar and retreating from needless wars abroad - and got laughed at by the other Republican candidates. Who got the nomination? John McCain - the person who admitted to be most clueless about the economy and most bullish in prosecuting the war in Iraq.

This leaves us with Peter Schiff and this book. I've seen Peter Schiff on television talking about the real estate bubble, our out-of-control government spending, the debasement of the dollar etc. which he predicted would lead us to our financial Armageddon. A what did the talking heads on television do? They ridiculed him - and later turned around and backed Paulson's risky, futile bailout scheme ("it will be good for Main Street").

So, if you want to know what is really going on with the economy, and what you can do to protect your investments from all the nonsense going on around you - buy this book.

The only question I have is - is it too late?? Gold is already at record highs. Do we believe that gold prices will reach $3,000, $4,000 or $6,000 per ounce? If Peter is right - there will be more nastiness, finger pointing and further economic melt down. This could turn out like the wreck of the Titanic - your safe in your own financial lifeboat as you watch others moan and drown in the fog around you.

I digress - read the book!

I read this book when I saw the writing on the wall back in 2006. Obviously Schiff was correct about the problems facing America but staring at problems does not create a workable solution.

The fear began to hit in 2006 and that's when commodity stocks exponentially increased. Sorry people, but that boat has already sailed. Hoarding physical gold will not help your finances.

2006/2007 was the worst financial years of my life because I worried and was afraid of the future and doing so led me to make some stupid decisions. Now, when I think about my financial goals and put them on paper I tend to pick good quality stocks/investments.

In the midst of the crisis that Schiff and others predicted I just focus now on my own financial goals for this year and have seen a substantial increase in wealth in a new business. This is due to the fact I, on an individual basis, do what corporations have done all along. The result is nothing short of amazing.

The book is frightening to read if you have any savings or investments. The solution to protecting your money and investments is to put your money into the authors investment vehicles. Worth reading, but actions recommended are too drastic for most people and, at least in my opinion, not mainstream enough to be considered safe investments.

Peter Schiff... the name to me meant nothing mere days ago. That is, until I began watching a few Youtube videos featuring Peter. He was predicting this credit collapse and systematic devaluation of the dollar in 2007 due to government intervention in this whole debacle. So far he has shown a uncanny ability for correct predictions, and yet at the same time he has been laughed and scoffed at on many financial programs when only the very first signs we're beginning to unveil themselves. I highly recommend Crash Proof to anyone, whether s/he be a neophyte in finances or Adept that is willing to broaden not only his portfolio but also his view as to what constitutes a Bull market.

There is no specipic recomendations, to much generalisations.
Is a paid ( by ourselves) propaganda of his financial letter.
Sorry to be frank, but,to me,the book is a grate deception.

The current news explains it all. The man was right. This book reads almost like a blueprint for news that was to come months later.

I've used Peter's strategies to make money shorting financials and buying metals at various periods during the last few weeks, and I'm continuing to follow strategies he has outlined.

If you pass on this book, don't say you weren't warned. It's one of the most important books for an American family to have in its library.

Peter has been right for years even in the face of overt ridicule. This book is not just for the average American, it's a global reference.
He backs up what he teaches with fact and doesn't act like another talking head.

There are things to both pan and praise in this book. On the pan side are the self-contradictory or perplexing statements sprinkled throughout the book. One page 153, Schiff states that "rising stock values are not savings..stock appreciation can be accessed only if the owners borrows against it or sells it". What kind of nonsense is this? No asset can be "accessed" unless you borrow against it or sell it other than cash! (And cash is only valuable because you can use it to buy assets and products.) So, not only is the claim ridiculous but of course he later contradicts himself when he claims that you should purchase equities (preferably through his firm).

The reason I entitled my review "Crash Proof?" is that as I write this, commodities and foreign stocks which he recommends over US stocks, have plunged far more drastically over the past several months than even US stocks. His premise that one should shun US equities in favor of foreign ones may or may not be a long term winner, but they certainly are not "crash proof".

My final criticism is that every one of his charts (and there are many) are taken from David Tice's Prudent Bear site. I hope Mr. Tice is getting royalties as he obviously has done the heavy lifting here. I can't recall reading a book where every chart or graph was lifted from a single source. Certainly serious scholarship is not to be found here.

On the plus side, the author makes a compelling case that foreign equities should be a hefty component of an investment portfolio. Even if one is unwilling to accept his argument that all American assets are doomed (which I am unwilling to do), every serious investor needs substantial exposure to foreign stocks, real estate and alternative investments in their portfolio. Mr. Schiff dismisses mutual funds for several reasons some legitimate, some not. ETF exposure deals adequately with most of his objections and of course there is no proof provided that Euro-Pacific's stock picks have outperformed any particular foreign index.

If life were a Back to the Future trilogy, Crash Proof would be the Grays Sports Almanac. Instructed not by the license of a science fiction fairy tale, but rather by a sincere understanding of the natural world, Peter Schiff lays forward a recipe for sensible financial judgment. A true gem floating in murky waters.

As the great Ludwig von Mises reminds us: "Marty! I didn't invent Austrian theory for financial gain. The intent here is to gain a clearer perception of humanity: where we've been, where we're going, the pitfalls, the possibilities, the perils and the promise."

Hey, Doc, we're all for that. But what's wrong with making a few bucks on the side?

Today we exist in something of an alternate 2008; our markets are controlled more by the imagination of men than by nature's order. Order will speak, and this too will pass. Join Peter on his journey of truth, as he dials in on modern day America. Learn how you can safely get out of the villain's '46 Ford and avoid crashing into the manure truck of financial ruin.

Peter Schiff has produced a truly remarkable book that serves as a roadmap to intelligent and efficient investing.

As some misinformed pundits liken Peter to a professor of "doom & gloom," that representation couldn't be further from the truth. Most of these type books do nothing more than bore you for hours, advocating for the reader to sell everything, buy gold, and build a bunker with 1 yr supply of canned soup. Unfortunately they are unrealistic; especially since I (and a great many others) would much rather die a quick death, than to be without a Blackberry for more than an hour.

Instead, Crash Proof is a fair and accurate depiction of our most recent financial era. Peter highlights the failed government policies and culture of rampant careless spending that has brought us to the economy we have today. His insights on investing to survive the economic downturn are very well thought out and responsible. The concern for the US economy is very real and frightening, as he articulates throughout. But as his philosophy is commonly perceived as being bearish, I would have to disagree with that assessment. He is an intelligent investor who has a thorough understanding of history and economics, and his recommendations reflect that comprehension of our world economy, and the direction it is heading.

As an investment professional myself, I recommend you do 2 things along with reading Crash Proof. 1) Visit [...] and browse all the priceless information on the site. For anyone with a speck of interest in economics and investing, there are few (if any) websites that can compare. I visit daily. 2) On YouTube, search: "Mortgage Bankers Speech." This will bring you to clips of the 2006 Mortgage Bankers Conference where Peter was a guest speaker. As you will see, he was warning about subprime before 99% of financial professionals even knew what it was.

The book does a decent job of explaining economic concepts in layman terms. It is an ok if you are a novice and want to understand basic economics.

However, if you read between the lines this is a big infomercial for his brokerage firm Europacific capital. I should know, since I fell for it. I lost 40% of my money by investing with his firm.

If you watch any of his videos posted on his website, he usually mentions that he has made a lot of money for his clients. This is TOTALLY false. Most of his clients made money in the cyclical bull market during 2003-2007 when a lot of other people made even more than him. I went to one of his client only conferences and there were a bunch of other angry people who had also lost money. All the time durinig this conference when people were bemoaning their losses, he was asking repeatedly if everyone had bought his book!! THIS GUY IS A HACK.

He is a decent economist but a horrible stock picker. On his TV and radio shows he only talks about his stock picks which made money. He never mentions about the ones that lost money. Be careful with your money out there. Schiff is not messiah, just an another two-bit stock broker out to pump his company and sell his book.

This book spends pages and pages talking about stuff I have heard many times: the dollar is falling, we do not save enough, we have too much debt, the US Government is not helping the economy but hurting it, we need sound money, you should buy gold, etc. At the same time, in a few places, the author recommends, sometimes subtly, what is apparently a brokerage firm in which he has an interest - Euro Pacific Capital. Except for the latter recommendation and the one to buy gold, there are few other specific recommendations worth talking about. The book can be summarized as follows: The US economy is failing and will probably not soon recover, so buy gold and use the Euro Pacific Capital brokerage to buy some good foreign stocks.

I have seen Peter Schiff for a couple of years now on CNBC, FOX, Kudlow etc. Frankly he does not come off all that well on TV, he scoffs and is somewhat sneery, voluble and impatient. Other panelists often tend to be dismissive and mocking towards him. I have to say I took a disliking to him and wondered why they bothered to include him. The fact that his father seems to be a crackpot tax protester who is in federal prison until 2016 doesn't lend much confidence either. But the last year is making the so-called perma-bull cranks look prescient. I decided I needed to read his book so I got it from the library and just finished it.

He is much more impressive in print than on TV. If I had read it a year ago I would have glossed over some of his concerns, like Fannie Mae and Freddie Mac possibly failing. But to read that now just might put a bolt into you. The majority of his points make very good sense to me. He lays out the reasons why the dollar and economy are headed for disaster and although I realize that case has been made for years I really have nothing to refute those points with. Probably the most convincing part of the book for me are his prescriptions for avoiding the coming mess by getting into gold, foreign investments and currency. The advice seems pretty sensible and at the least no more risky than being in the US markets. I think he makes a plausible case why that is almost a can't lose scenario. Of course gold is off it's recent high by about $200 an ounce as of today. Is it a buying opportunity or a chance to get burned? The usual dilemma.

I have always been optimistic about the American people and economy, we are probably still the most dynamic society on earth. I took to heart the advice that no one ever got rich betting against the US. Frankly I am a sensible but conventional wisdom kind of guy. But we have now seen decades of irresponsibility in government, corporate and household accounting and lately I am feeling like I have been misinformed, lied to and BS'd by every so called expert in the media and corporate world, not to mention the government. Having said that, what I would like to see is someone of impeccable credentials review and address Mr. Schiff's points and possibly offer a rebuttal. When I google Schiff or Euro Pacific Capital I find it hard to find any performance statistics or relevant critiques of him. But I will definitely state that his book is worth reading and giving serious thought to. If anyone can point to a reasonable discussion or info associated with him or his company I would appreciate a message to that effect.

I read this book from cover to cover, and found it to be very helpful and easy to understand. I contacted Peter's organization, Euro Pacific, and am considering having them help me with some investments.

Contrarian investor Peter D. Schiff isn't just a bear. He's a sky-is-falling, bury-the-Krugerrands-in-the-backyard bear. Writing with John Downes, Schiff argues that the U.S. economy is going to hell, and that clueless consumers, opportunistic Wall Streeters and pandering politicians are carrying the handbasket. Schiff's screeching tone is a bit grating - until you realize that many of his predictions have proven accurate. That doesn't mean you shouldn't take him with a grain of salt, but this book was published in 2007, and in mid-2008, Schiff's forecasts of a weakening dollar, rising gold prices, a bursting real-estate bubble and strong foreign stock markets were spot-on. His pessimistic polemic could use more practical advice and less macroeconomic analysis, but still getAbstract recommends it to those who seek an alternative viewpoint.

Peter is easily one of the best forecasters of his generation. His honest approach to the current economic demise that we are facing is a breath of fresh air. Schiff, unlike most of his peers, is not a pom-pom waving cheerleader - he tells it like it is...and he's been almost bang on 100% right.
The book is a must have for all who are looking for ways to protect their wealth in these uncertain times.

This book is a fantastic crash course on economics. The information on the Federal Reserve is eye-opening. This is one of the best purchases I have ever made on a book. I highly recommend it to everyone. It is an easy, quick read, full of valuable information for anyone who has or plans to have investments.

Rare five star rating.

This book is your action plan, your calling to protect your assets in the coming years. Peter Schiff was laughed at on CNBC for a long time. Now with Bear Stearns, Freddie, Fannie all dead and dying, people are starting to listen.
Washington DC is broken, and no matter which idiot senator is elected this Fall, our troubles will not be over.

For those who seem to be miffed that he mentions his brokerage so much, get over it. Sign up for his newsletter and you can take whatever recommendations Peter has to your own broker. The key is to reduce your position in dollar dominated assets...now! Protect your wealth from the most egregious tax of all: inflation...and the devaluation of the US dollar.

You can't say you weren't warned.

Warning, a quote from the book. (Page 87)

Business Cycles

According to the classical economists, like Ludwig von Mises and Friedrich A. von Hayek of the Austrian school, recessions should not be resisted but embraced. Not that recessions are any fun, but they are necessary to correct conditions caused by the real problem, which is the artificial boom that precede them. Such booms, created by greed, others by inflation, send false signals to the capital markets that there are additional savings in the economy to support higher levels of investment. Ultimately, when the mistakes are revealed, the malinvestments, as Mises called them, are liquidated, creating the bust. Legitimate economic expansions, financed by actual savings, do not need busts. It is only the greed and inflation-induced varieties that sow the seeds of their own destruction.

This flies into the face of modern economic thinking that regards the business cycle as the inevitable result of some flaw in the capitalist system and sees the government's role as mitigating or preventing recessions. Nothing could be further from the truth. Boom/Bust cycles are not inevitable and would not occur were it not for the inflationary monetary policies that always precede recessions.

The Modern Federal Reserve: An Engine Of Inflation And A Creator Of Booms And Busts

The Federal Reserve turned the concept of the elastic money supply on its head by expanding the money supply indefinately. When the economy expands, the Fed expands the money supply, and then when the economy contracts, it expands the money supply even faster, in an effort to stimulate spending to offset those contractions. It's like a heroin addict trying to kick the habit who shoots up each time any withdrawal symptoms set in. It is a painless way to go, but one unlikely to produce a healthy outcome.

So the Federal reserve ultimately became nothing more than an engine of perpetual inflation, the precise opposite of what it was originally intended to be. Today the money supply is anything but elastic, as it always expands and never contracts. Had such a harebrained scheme been proposed at its inception when the Fed was created in 1913, the concept of the Fed never would have seen the light of day and its proponents would have been laughed out of Washignton.

Peter Schiff's amazing prescient books explains in simple terms the inner workings of the US economy and the problems inherent there in.

The author decries the devaluing of the dollar,
inflation and the looming trade deficits.
The book indicates that the USA is too dependent
upon foreign lending. Foreigners hold too many
Treasuries. Americans save too little and consume
too much in comparison to the rest of the world.

Our dependence upon foreign manufacturing contributes
to the trade deficit. The book shows how less
regulation, tax relief and more economic development
can turn things around. Computer models have become
highly productive in the area of design engineering.

Gold and precious metals are at an historic buying
opportunity. Demand for goods and services is artificial
when not productivity induced. An example of good debt
is capital formation connected to a thriving business.
Bad debt is money lent for excess or frivolous
consumption. An example would be taking out a second
mortgage on a house to finance a vacation.

Right now, Europe enjoys a balance of trade surplus.
The purchasing power of the Chinese is increasing at
a time when the dollar is falling. Canadian oil and gas
investments yield 12% or more. Hong Kong and Thailand
are also good investment arenas. Coal stocks are yielding
good dividends. As the dollar falls, gold and precious
metals rise. The ETF gold shares can be good investments;
however, investors may not have the same creditor priority
in bankruptcy according to the authors. Examples of good
gold ETFs are GLD and CEF (Central Fund Canada) shares.

The author believes that the USA should pursue a sound
money policy with limited government and less regulation.
Potential gold stocks worthy of investment are Newmont Mining
Corporation and Goldcorp.

Overall, the acquisition would be helpful in crafting an
investment portfolio to weather some market corrections
on the horizon. The extent of the market corrections will
depend upon investor perceptions as to government
responsiveness on a number of fronts. These historic
challenges include energy independence, debt management,
structural government spending, meaningful regulatory
compliance, the abolition of unnecessary regulations,
FDA protocol simplification and a host of other issues
too numerous to delineate in a finite review.

I have read many books on the current crisis by very famous people like Soros, Wiggins etc., they all go into convoluted discussions which are, in my opinion, non-sensical. This book calls a spade a spade. One can quibble with the definition of inflation and deflation. Maybe it is too aggressive in accusing the government of deception, bu I don't think so. But the facts are facts. It is written very well. A must read.

Peter Schiff has a gift for making obvious that which eludes most of us, and putting it into simple language. For example, he points out our nation's debt to others, called a capital account surplus, is really a debt surplus, and this is financed by borrowing money from abroad. The government pretends to measure productivity with GDP, but GDP just measures debt-based consumption and inflation. Despite the Fed rhetoric, deflation is not bad at all: rising prices are normal in a healthy economy, as productivity rises.

This book points out what should be obvious, but what we as a nation forgot: true wealth is created by underconsumption and savings and capital formation that goes into making more productivity, not by our current way of borrowing from overseas to consume. Consumption does not create wealth, and our day of reckoning will come with a weak dollar and lower standard of living. How to prepare?

In the final 3 chapters, he outlines what can be done to survive the inevitable economic crash caused by overborrowing and overconsumption: invest in dividend-paying foreign stocks (you get the cash dividend plus appreciation of the foreign currency), and precious metals.

If you have never considered such an investment strategy, this book will wake you up.

I really like his simple language, his ability to foresee what eludes others (tech bubble, housing bubble), and his commitment to make money in ways that help other people. I read his website every day, so when the book came out, I ordered it before it was published. I've lent it to several friends already.

If you like this topic, also consider Bill Fleckenstein's The Age of Turbulence and Richard Duncan's more technical, The Dollar Crisis.

What belongs to Ceasar..I believe the saying goes.. Thank you Mr. Schiff for writing a very easy to understand, informative book. Mr. B is still trying to make the "Democracy Work" He probably skipped over that part in the book. In any case, I read your book after reading Financial Armaggedon, (evidently I'm slow to panic) Your works added the xtra touch & numbers needed to bring this crisis to life. I've watched you on Fox & was more than a little dissapointed at the way your "handled" on the Show.
reminds me of the way they "handled" Sen. Ron Paul during the debates. This is news that "They" definitely don't want you to know. I was a little dissapointed in the plugs you made for your Company, but there again, You were offering solutions for the problems at hand, a one stop shop so to speak. After listening to several of your radio messages (your not interruped as much)It's all starting to fall together. (No pun intended)I think this book should be recommended reading in every high school across the nation. Let those with ears listen..I Personaly don't think your far off the mark.

My wife and I have seen the economic train wreck coming for a long time, but haven't known what to do about it. Now we see some kind of hope for our future. This is the first book I have read that ties all of the pieces together, explains what the consequences will be for the average person and gives practical recommendations. That's not to say there aren't other books out there that are just as good or better, and there are plenty of suggestions in the reviews, but for me this one really clicked. One main complaint I've read in the reviews is the book is just a plug for the author's own brokerage. To be fair, though, he also gives specific things to look for no matter what brokerage you use. That is the kind of thing you do if you genuinely want to help people, not just drum up business for yourself.

I first learned about Peter Schiff watching TV back in early 2007. I immediately went to my local bookstore and paid full retail (a first for me!) for his book. I since have purchased 8 copies and gave them out to friends.

I do not work with full service brokers so I haven't opend an account with Euro Pacific. Last year, I did liquidate most of my US stocks, got heavy into gold, foreign currency funds and commodities, and bought a bunch of short funds (the last part not necessarily recommended by Peter). I remember March 2000, and made my philosophy to avoid a repeat for my accounts and the portfolios I manage for others.

Love him or hate him. Peter's forecasts have turned into history. I understand Rubin was telling investors to get out of stocks in early 2000 - something I didn't know about. Schiff is on TV and in bookstores with a very reasoned (and since proven accurate) rationale for getting out of US dollar denominated investments. Ignore it if you like, but don't say anyone didn't warn you....

This book is one of the best financial books I have ever read. This book tells Americans the reality of the economic condition of the U.S. and then goes on to tell you how to protect yourself from our economic mess.

Mr. B's comment is delusional. In economics you must stay within reality, you, Mr. B. are living in a complete fantasy. Can you not see what is happening all around you? Unemployment up, homelessness up, gas prices up. Do me a favor, try this experiment. Take a rubber ball, make sure it has some dust on it, and then SLAM it on the table. Watch as the dust flies off the ball. That is how secure we all are economically. Got it?

If the public would of had the chance to listen to Mr. Schiff years ago they wouldn't find themselves in the economic mess they are in now. People are losing their retirement money. Had they invested or at least listened like I did to Mr. Schiff they wouldn't be bleeding money. I am up!!!

I just want to say thank you to Mr. Schiff. He saved our financial future and educated us along the way. Mr. B., you really need to start studying economics and get out of your fantasy world. Economics will bite you every time. Thanks again Mr. Schiff.

Bottom line, if everyone in America read this book (better yet, everyone the world over), there would be a (much needed) revolt by the fleeced taxpayers who are robbed blind by the Federal Reserve's (and other central banks) paper money (that they can counterfeit as much as they want legally). If that revolt happened, and the people (who the government *works for*, not the other way around) were able to take money back from the government and put it in the rightful hands of the people, there would be such a wonderful world created by the free market, in such a short time, that everyone would be enjoying a much higher standard of living that would make today's paycheck-to-paycheck life seem like a bad dream.

We are living in an age where we have a banking system that is immoral, unethical, and out and out robbery of the productive workers of this world.

For an example of what is basically America's biggest problem (the Federal Reserve), take anything scarce... Let's take a rare baseball card... A Mickey Mantle baseball card or something. If you suddenly increased the supply of those baseball cards, let's say 5 times, it reduces the value of all existing cards by a similar factor of 5. They are 5 times less scarce. That's what the Fed does to our US dollar. They create "more money", making all things inflate in price (the quantity of dollars goes up to buy the same quantity of real goods, eggs, milk, gas, steel, copper, etc).

The Fed constantly counterfeits new money and creates new credit and deposits and devalues every American's existing savings and purchasing power. Prices eventually rise as new money/credit trickles through people's hands and it dilutes the value of everyone's money.

Why is gas $5/gallon? The Fed. Why is a house that sold for 10,000 50 years ago selling for $300,000 (or more) today? The Fed. With it's easy money policy and the monopoly over one of the most important things in the world (money), we've got to change our direction.

Peter Schiff educates the reader on what we need to do to first understand the situation, he then goes on about how we can protect ourselves against the situation, and there's plenty of meat in between.

A top notch book. This isn't an investment book that goes out of style (unless you wait too long to convert your US dollars into something of real value), because Peter gives an excellent understanding of real economics to the reader (Peter is from the Austrian school of Economics, the 'only' school of economics that tells it like it is).

Peter is doing his part to turn America around, a major part in fact, and I applaud his excellent efforts.

Thank you Peter Schiff!

Let me sumarize this book :

1. Buy Gold Silver and foreign stocks that pay dividends.
2. Buy them through Peter Schiff's Company and give him a large commision on your money

Mr Schiff has given up on the USA. I remember when people here were proud to buy American. This book recommends we buy stocks in countries that have no democracy, helping them to prosper and rewarding the bad way they treat people there. He is part of a movement that will start a panic on the dollar that will make all of our US dollars worthless.

Even if you make money this way, investing in foreign currencies, Gold, and Foreign stocks, is this good? Lets not abandon the system, Lets fix it. Lets get together, declare our independence and change the system. Yes we can change ! Yes we can !

My name is Dr. Krassimir Petrov and I am a university professor at the American University in Bulgaria, Dept. of Economics, where I teach Investments and International Finance. For the 2008 Spring semester I have used extensively Peter Schiff's book and web commentaries. I am proud to be probably the first professor in the world who has introduced Peter Schiff and his book into the academic curriculum. Also, a major take-home exam requires students to present in a systematic manner Peter Schiff's economic and investment views and his arguments. Amazingly, students are always initially shocked and skeptical of his views, but within a few weeks they develop understanding of the topics and begin to embrace the core ideas and arguments. By the end of the semester, Peter Schiff was the favorite amongst the majority of my students.

I believe that any intelligent person can understand these ideas and arguments by reading "Crash Proof". It is written very well and provides sound investment advice. It will provide a superb investment strategy to anyone willing to survive and prosper in the "ongoing" economic collapse. I wish that more people would pay attention to what Peter Schiff has to say in his book.

In my professional opinion, Peter Schiff is one of the best financial advisers in the world and provides meaningful interpretation of all major economic and financial developments from a global point of view. I would also recommend to everyone to follow regulalrly his weekly commentary and his weekly radio show.

This book contains valuable information to prepare for the upcoming collapse. Schiff covers all important angles, including the dangers involved in the decline of the US dollar, and how and what to invest in (e.g. foreign stocks, gold and silver). This is a book that is aimed at the average Joe and is in a straight-forward, yet highly effective language. Schiff embellishes his ideas and predictions with useful tips. For example, he advises to buy used goods as opposed to new imported goods, and to stock up on essentials and every-day survival needs not only to save money, but more importantly, to brave the upcoming storm.

A must-have book! Excellent survival guide. Recommended to read more than once, because once you realize some of the predictions are evolving before your very eyes, you will want to review what you need to do to keep up with the occurring events. A good follow-up to this book is to tune in to Schiff's broadcasts, videos, and news updates. Amazing info!! You will love it!!

This book is proof positive on the coming economic collapse. It is a spot on take that speaks volumes of truth regarding the economy. This is THE guide to preseving wealth in difficult monetary times. Peter Schiff is more right than wrong and this has been proved countless times in the past. Thanks so much to him and his warning! BUY THE BOOK! MAKE SOME MONEY! SAVE YOUR FAMILY!

I now understand what an Economy is after listening and studying alternative media economist such as Peter Schiff, Jim Rogers, Lyndon Larouche etc... High School and University Econ classes should make Peter's book a must read.
I have read many books on economy and finance, and Mr. Schiff's book ranks at the top of my list. I regularly listen to his mp3 archives and watch his T.V. interviews on Youtube. I wished I knew about peter earlier. I KNOW I would be RICH and financially Secure had I know about Peter 5 years ago. But now it's better late than Never.

While I see some limitations in identifying the true nature of the institutions and their role in undermining the American economy, I find no fault with the author's analysis of the declining dollar and its impact on the average citizen in the U.S. I would highly recommend this book to any person who wishes to survive the inevitable decline of the American way of life due to the present and further forthcoming economic catastrophe. Peter Shiff provides a clear understanding of the causes and some very practical steps one may take to protect whatever assets they may have.

What I see lacking in the book is an explanation of the orgins and mechanisms of the primary manipulator of our economy the Federal Reserve. However, that is understandable as there is only so much ground that can be covered in one book. For that background I would recommend the book by Edward G. Griffin- The Creature from Jekyll Island which is the definitive resource on this topic.

While you are at it you may also want to check out The Shadows of Power by James Perloff for a clear history and trace of the undermining activities of the Council on Foreign Relations who are also related to the some powers that control the Federal Reserve. After all, having David C. Rockefeller as your Honorary Chairman with Ben Bernanke, Greenspan, Dick Cheney, Condaleeza Rice, Daddy Bush, Bill Clinton, Ted Kennedy, John Kerry, John McCain and other key members of the cabinet and current power structure as long term members does tend to point a finger in the direction of this group.

All in all a recommended and for some eye opening account of what is already coming to fruition in America that could, in fact, save your economic life and well worth reading.