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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 result: 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.

Customer Reviews:

• Good Background Info...Wrongheaded Portfolio Advice
  It is the authors' contention that gold will rise to a thousand dollars an ounce. Properly viewed gold's value as a medium of exchange for essential commodities will not actually rise. It will likely still buy the same amount of food or oil absent transient shifts in supply and demand that it has for decades. It will hold its value because gold is money. It will be the U.S. greenback that will lose its purchasing power because it is a money "substitute" a fiat currency subject to government mishandling (viz. inflation).
  
  History provides ample evidence of governments expanding and diluting their money supply to satisfy their various constituencies. Expensive social programs buy stability and growth. At the same time printing more currency to fund these programs avoids having to tax society with the bill. But the question a reader must ask is whether the authors have made a persuasive case for this happening in the immediate future. Investors believing the latter might follow this book's recommendation to build a portfolio consisting mostly of gold and precious metal assets and their mining company stocks. The decline of the dollar and our mushrooming trade deficit's impact on the dollar is a cause of legitimate concern. Richard Duncan's THE DOLLAR CRISIS [2003]covers this topic in forceful detail. But while post World War I Germany defined hyperinflation in just a few years Rome lasted for centuries before its economy imploded. Does the investor divert their resources to build a shelter today gambling that the dollar's end is near, or is it better to continue to address the multiple risks of today by diversifying and gradually weighting their recommendations as evidence mounts.
  
  Proponents of gold have always had a survivalist gene in their thinking. It is helpful to their case to remind us skeptics that in 1933 FDR prohibited the "hoarding" of gold and a year later devalued our currency relative to it by almost seventy percent! But opening foreign bank accounts as the authors suggest has legal and logistical impediments and ignoring currently beneficial investment opportunities outside their metallic frame of reference may be like building a shelter for that inevitably approaching but ultimately uncertain asteroid.
  
  The value of this book is not in adopting its too aggressive and too narrowly focussed portfolio recommendations. Readers will profit by recognizing the value of including precious metals in their holdings, and even more so if they decide to diversify their portfolio to include commodities and natural resource assets in addition to stocks, bonds, and real estate. If you should subscribe to the authors' thesis exchange traded funds (ETFs) that track underlying gold indices may be an efficient and more prudent way of adjusting an investor's allocation than storing gold and evaluating individual mining stocks....more info
• Reality catches up
  The world is today awash with liquidity. Thanks to the extravagant living backed by paper currency, America is today the world's largest debtor nation. Though debt by itself is not bad, it is dangerous both to the borrower and the lender if it is not backed by productive assets. This book is about the origin and consequences of such a situation and the currency that has helped inflate the global monetary bubble on a scale that is threatening to burst on our faces.
  
  First the book gives a good definition of money as a standard of value, store of value and a medium of exchange. Going by this definition, over the centuries mankind has experimented with several monetary equivalents including cattle, sea shells, metals and the like. Whatever the medium, there was a definite asset equivalent attempted to be stored in money. This system got refined over the years and ultimately gold emerged as the undisputed monetary standard in the nineteenth century. Under this system, governments and central banks had to maintain gold equivalent in their vaults for the paper currency issued by them. Excessive government spending was thus effectively curtailed and exchange rates were automatically balanced. It is the gradual deviation and debasement and later the outright abandonment of this system in 1971 that seems to have led to today's situation where the dollar has just over 1% of its value as gold reserves with the Fed.
  
  In an imminent possibility of a virtual run on the dollar by creditor nations and oil exporting countries, the dollar is bound to plunge. Gold expressed in dollar equivalent will surge. This logic does not need any further explanation. But what is more interesting is the discussion on alternate investment strategies that can outperform gold in real terms. Silver emerges as a surprising and sure alternative. Unlike gold, silver gets consumed in large quantities in industrial use and not reclaimed. Hence the quantity of silver available above the ground is actually reducing. When there is a rush to convert paper currency into precious metals, the authors expect silver to rise faster than gold due to these fundamentals. If gold is a Boeing 747, silver will be an F-16 is a good analogy.
  
  The book discusses some facts on mining of gold and different categories of companies involved in this industry. Depending on factors like asset base, quality of mines, financial and operational leverage, quality of management and country risk, each of these are analyzed for their risks and potential returns.
  
  Numismatics also gets a fair share of the coverage.
  
  The book is however bound to come under severe criticism on the following grounds.
  
  - Gold is not the only possible store of value
  - The fundamental principles on which monetary expansion kick starts economic expansion is completely ignored
  - In a global economy where currencies are tightly linked and freely traded, only the dollar is isolated for criticism
  - Unbridled monetary expansion is bad, but return to gold standard is ridiculous in a modern knowledge based economy
  - Large transaction and holding costs in buying gold is not the efficient way to deal with investments.
  
  Despite these shortcomings, gold will continue to retain its excellent qualities and reading this book will only add glitter to this noble metal whenever you see it....more info
• Timely Advice for Our Fiat Currency
  I just finished reading The Coming Collapse of the Dollar and How to Profit From It By James Turk & John Rubino published in 2004. James Turk is founder of GoldMoney.com, the leading digital gold currency payment system. John Rubino is the author of How to Profit from the Real Estate Bust.
  
  I've posted a lot about inflation and gold, the Federal Reserve, and the destruction of the US Dollar. I have read about the inflation that Germany experienced after WWII, the devaluation of the Mexican Peso and the Argentine Peso. If that is our future, I wanted to have some idea of what is in store for us and. The book is divided into four parts and is well written and difficult concepts are explained well:
  
  Part One - Why the dollar will collapse
  Part Two - Money Then and Now
  Part Three - Wht Gold Will Soar
  Part Four - Profiting From The Dollar's Collapse
  
  In part one we learn that we have a fiat currency, backed by nothing except a decree that the US Dollar is legal tender. Throughout history, in order for governments to satisfy demands without raising taxes, a government not only begins to debase its money, but inflates as well. Both are happening in the US and no government has been successful. We have a history of that in this country with the Continentals and the Confederate currency, both worthless.
  
  Another fact that dooms our currency is that we have too much debt. Total unfunded liabilities of the US are in excess of $43 Trillion, as a society we owe another $37 Trillion and Derivatives are in excess of $200 Trillion.
  
  Then we have a trade imbalance which just topped $800 Billion for 2005. We have been up in arms lately by the Chinese wanting to buy Unocal, then Dubai wanting to own our eastern port management companies and Dubai wanting to own some of our critical defense industry by trying to buy Doncasters Turk and Rubino point out on p31:
  
  Foreign investors now own about $8 trillion of U.S. financial assets, including 13 percent of all U.S. stocks, 24 percent of corporate bonds, 43 percent of Treasury bonds, and 14 percent of government agency debt. By the end of 2003, about a third of Fannie Mae's mortgage-backed bonds were being sold outside of the U.S.
  
  That was in 2003 and it has gotten considerably worse. What's in store for us:
  
  Over time, the gap between tax revenue and the demands placed on government tends to grow, and spending, borrowing, and currency creation begin to expand at increasing rates. Inflation accelerates, and the populace comes to see the process of "debasement" for what it is: the destruction of their savings. They abandon the currency en masse, spending it or converting it to more stable forms of money as fast as possible. The currency's value plunges (another way of saying prices soar), wiping out the accumulated savings of a whole generation. Such is the fate of every fiat currency.
  
  The government wants to keep this game going as long as possible by issuing phony CPI numbers, then by excluding energy and food, concentrating on a "core" rate. Phoney low inflation numbers keep bond yields down and "COLA" adjustments low. What is the housing bubble, but selling USDs for a tangible asset. Gold is a warning sign and a rising gold exchange rate is fought by capping and leasing gold, until the central banks are short 12,000 to 16,000 tons. And now one of the tools Turk and Rubino use, The Fear Index, to gauge where gold is going in the next few years will be handicapped by the ending of release of M3 data.
  
  Turk and Rubino do an excellent job of instructing you in Part Four. Can you profit from your knowledge of an impending collapse of the dollar? How can you protect yourself? How can you protect your accumulated savings?
  
  I highly recommend this book to professional and novice, alike....more info
• We should know this for a long time
  This book tells you what will happen, just a matter of when. The one- Messiah will repeat history of FDR, welcome to great depression, this book teaches us how to capitalize in this once in a lifetime/century event.
  
  The book does not disclose the root of housing bubbles (B Frank al et). But this book tells Silver is a better vehicle than Gold in a short run.
  
  It is too late to short financial stocks, good time to long precious metals like Gold and Silver....more info
• Interesting read without a heavy sales pitch
  I respect the author for not shamelessly marketing his own service. He makes a very good argument for why the dollar's value should fall and offers advice on how to construct an alternative investment portfolio to protect your money.
  
  He warns people to own allocated gold deposits and many other methods of reducing transaction costs when purchasing gold and gold stocks.
  
  The book does leave you questioning whether the dollar really will collapse overnight, though. Some of the chapters were too short, probably to steer clear from too much economic theory.
  
  There are other, better, books explaining why monetarism is at crisis and how the dollar will suffer in coming years. This book does not go into the details, but it does have an excellent bibliography referring to these books and various sites for further reading....more info
• We all understand money.....or do we?
  This easy to read book concisely lays out the impending demise of what we all use in our daily lives, the United States Dollar.
  These dollars we find are quite easy to understand. Our children quickly grasp their significance. They help us buy services, goods and to prepare for a rainy day. What we might not understand about the dollar will have serious negative impacts on our very near futures.
  The authors convincingly explain what is behind the growing and apparently irreversible loss of the dollar's value and what one should do to protect themselves from this rapidly worsening insidious process. Further, they offer simple ideas for using this knowledge to invest, literally turning dollars into gold!
  This book is for anyone aiming to profit from the continuing downturn in the value of the USD. ...more info
• Should Be Read by All Investors
  This remarkable book should be read by everyone who has a savings account or a 401K. Even if you don't act on the authors' recommendations, you will see what is REALLY taking place in today's financial markets. I can guarantee that you won't hear any of this on CNBC.
  
  Be warned: the authors are doing something very rare. They're telling the truth.
  ...more info
• More of the same
  I was disappointed in this book. It promotes the same hysteria and the same tired solutions of gold bugs everywhere. We know about gold. When is someone going to write about assets other than gold, and whatever ripple effect throughout society that a dollar collapse would cause?...more info
• Good Advice...If Things Go Their Way
  The authors are convinced that the dollar will collapse, but their book is far from convincing. Even if the dollar does collapse, it might not do so for years or even decades. They offer up historical and theoretical reasons why the dollar should collapse, and they sound persuasive, but they never show exactly WHY the dollar MUST collapse.
  
  That said, if the dollar does collapse, then following their advice should prove fruitful. They present a number of different ways for both relatively conservative and aggressive investors to profit. But, embarrasingly, one of the contra-dollar mutual funds they recommend (PIMCO Foreign Bond) is actually a dollar-hedged bond fund, meaning it's not designed to benefit from a dollar decline. I guess they didn't bother to read the prospectus.
  
  Their model portfolios would have even "conservative" investors basically place all their bets on a falling dollar. This is arrogant and irresponsible. Unless you're a speculator who can afford to lose big, you need some diversification (cash, short- term U.S. bonds, dividend stocks, etc.) so that a dollar rally won't lead to huge losses. I'm about 1/3 gold/contra-dollar, 1/3 cash/short-term bonds, and 1/3 dividend stocks. (I am avoiding long-term bonds completely until we see at least 7% yields to compensate for the risk.) When I become bearish on stocks, which I expect to do by 2006, then I may go up to 49% contra-dollar and 51% cash, but I'd never bet more than half my dough on a single investment strategy and no responsible advisor would suggest that you do.
  
  Strangely, the publisher touts praise of the book from ultra-bear Robert Prechter, whose predictions have been pretty lousy of late. Prechter is a deflationist who has been a long-term bear on gold for quite some time. Did Prechter bother to read this gold bug tome before he lavished praise on it?
  
  Gold is money, yes, and everyone should have some. But that doesn't mean "money" is or will be the most profitable asset to hold. We just don't know. If this book can convince some of those people who have been taught by Wall Street and CNBC that all they need is S&P 500 index funds -- and maybe some bonds -- to diversify into hard assets like gold, it will serve a useful prupose. If it turns sane people into raging gold bugs who mortgage their house to stockpile gold coins and go on margin to buy shares in mining companies (something the authors actually suggest since they're so sure gold is going up), then this book is just another vehicle for creating more gold bug losers who get caught up in a mania and ride it down to the inevitable crash (the irrationally euphoric gold bugs of the late 70s are STILL trying to recoup their losses)....more info
• Bail outs may lead to Collapse of the Dollar... Buy Gold/Silver Now!!!
  If you understand the fiscal situation this country is in, the place the elected & non-elected officials wanna take it, and what will happen after that has taken place, this book is dead on.
  
  Monetary policy in this country(USA) has been flawed since the inception of the federal reserve system in 1913. The Monetarist economists(Widely known as Anna J Schwartz & Milton Friedman) blame the fed's lack of action as the cause of the great depression. They believe if the fed had intervened and created a little more inflation at the time the deflation was occuring(aka Deflationary Depression), the Great depression would have lasted only 1-5 years. Ben Bernanke (current FED Chairperson) believes this theory, that's why he's currently inflating that debt away through bail-outs.
  
  On the other hand, Hard money Economists (aka Ludwig von Mises' Austrian school of economics) blames the fed completely for the Great Depression. Since their inception in 1913 the fed has fueled massive credit bubbles and the roaring 20's were no different. From 1913-1919 the fed increased the money supply by around 50% leading to the credit induced boom known as the roaring 1920's. When they finally called in all the inflationary credit they had put out, it killed the economy. Instead of letting the money stay out, they kept deflating the bubble which fueled the longest economic downturn in US history.
  
  Today our economists and financial leaders will make sure not to repeat that mistake again. The system will not be allowed to go broke, almost everyone will get a huge bailout, and when they do, the countries who hold our short term US debt will begin dumping it, due to its losing value thanks to the bailouts.
  
  If you believe the dollar is gonna take a hit over the next 5-10 years, then dedicating some of your portfolio (10-25%) to precious metals and watching what happens is going to be very exciting. If you paid attention to the 60s & 70s, you would notice some odd but scary similarities, huge needless wars followed by inflationary downturns in the economy. The 1970's bad economy was the price for the 1960's vietnam war. Remember, Nixon took us off the Gold Standard in 1971 when gold was only $35 an Ounce(today its ~$900). During the 70s the DOW Jones only gained 10 points but gold jumped almost 24 times, silver more. This time its gonna be a lot worse. I think physical silver is the best deal, as long as you can find some quality physical without a high retail purchase fee.
  
  James turk is a pro and this book ranks high on the list of profit from the coming gloom & doom books. If you want to implement a section of your portfolio into precious metals this book is a great way to learn some very helpful tactics. He writes about what types of Precious Metals investments you can buy: Physcical(keep@home&vault), Paper(futures/options), Mining stocks, Numismatic, but doesn't really mention his world-renowned service called GOLDMONEY.com located in British Jersey,UK. I personally have an account with GoldMoney.com and I feel its a one of a kind service. It keeps part of your wealth outside the US, which is very important. My say is Pick up the book and Partake in the Precious Metals bull market that will last for the next 5-10 years minimum, and create some wealth during the bad times we're gonna go through :)
  
  I also recommend the book CRASHPROOF by Peter Schiff (he recommends GoldMoney.com) ...more info
• Good intro to investing in gold
  I'm a beginner at gold investing, but this book made a strong case for why I should. Better yet, it follows up with real advice on how to do it. It's a bit dated now (it predicts a collaspe of fiat currency years ago, for exampmle) but you can look past that and still get real value out of it....more info
• The Coming Collaspse of the Dollar and How to Profit from It:
  This book walks a normal herd criter though economic maze of fiat money. Dubious that most will grasp, but sends a chill though the spine of those who envision if the central bankers stumble and loose control of their invention. Five star+
  
  Suggest buying gold........more info
• A good warning
  An excellent book. Readers take warning and get ready for what lies ahead....more info
• Gold Gold Gold
  I have not yet restructured my portfolio to include a large gold component - but the authors do make a compelling case for it.
  
  With the past years dollar slide it make sense... but since printing the dollar is rising. So I'll wait. Nonetheless, it's a great examination of the issue. I recommend this effort....more info
• I have read better books on the subject.
  The book is just rehashing ideas that have been around since the late
  1980's. That part is alright because if you haven't read the books from the 80's & 90's then the information in this book is new. My MAJOR complaint about this book is that one of the authors, Jame Turk, uses
  a whole chapter to plug HIS OWN gold bank. In my opinion that is a
  conflict of interest....more info
• timely and thought provoking
  I like the book. Bottom line for me is that trouble is coming and we all need to be prepared. Recently, on the 5 year anniversary of Nasdaq's high , I was reading in our local paper about the dramatic downturn and thinking about the many people I know who are in the tech industry and lost much of the value of their 401K's not to mention their jobs and are still desperately today looking for work. Many of these guys have taken huge paycuts just to keep working. WE are still feeling the effects of that bubble. The weird thing is that I also recall briefly reading a review of John Rubino's book about the tech bubble before the burst and feeling that he was probably wrong.
  
  I think its wise to consider their advice as there are many things to take from this book that will help provoke thinking ( and then compare to the daily news). Inflation is rising, people are strapped for cash, with huge credit card debt, plus their mortgage rates are rising. I personally know people here in the Bay Area who have put no money down on a half million dollar 2 bedroom condomiums and are barely making ends meet now. If there is an accompanying recession, it will be doubly painful as most have no savings or fall back plan. For me, it is a chance to take a good look at what I am doing with my money and my investing so I appreciate the research they have done.
  
  I do not consider myself an investment guru or pretend to be, just trying to look out for myself when I sense things are terribly wrong.
  
  I recommend this book !
  
  ...more info
• Great "how to invest in Gold" book
  Highly recommended. With a list of resources all, top notch. I'm a believer....more info