The Global Debt Trap: How to Escape the Danger and Build a Fortune Reviews
July 18, 2011 
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Good overview of fiat money problems ahead, short on what to do about it,
This book presents a comprehensive overview of fiat money problems from the past (Weimar Germany) and what is ahead from the massive debts accumulating by USA, Britian, and Japan. The book predicts that governments are guranteeing a further dramatic acceleration of the global financial and economic crisis due to massive debt. The book forecasts additional social unrest and international tensions as a consequence of the global debt. The book recommends that you be self reliant with your investments and that if you have mutual funds be very careful of their associated costs and that you stay flexible and this is not an environment for buy and hold strategies and finally, don’t hesitate to make radical portfolio changes.The book demonstrates that stocks have historically been a poor investment to stay ahead of hyperinflation, but of course better than bonds and cash. The book also suggest only buying stocks when the P/E ratio is 10 or less and considered the US Stock market extremely overvalued when he wrote this mid 2010 (so if you followed the advice you would have missed the substantial increase). The book’s number one rule; Avoid major losses during market downturns (like buy low, sell high?) The second rule, You must be flexible when selecting investment classes–not just stock and bonds, but also precious metals and other commodities, foreign currencies, and inverse instruments. The book recommends that your portfolio be at least 25% gold and precious metals. Overall, this book presents a good overview of fiat money problems, but does not deliver on any specifics on how to “escape the danger” and “build a fortune”. You are better off reading Peter Schiff’s book, Crash Proof 2.0 and/or Charles Goyette’s The Dollar Meltdown.
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|Breathe of Fresh Air,
It is passed due for a German Economist’s view on the current global crisis to hit America with a large scale publishing.
To anyone who wants a clear cut vision of what the future holds for the global fiat monetary system this book is a must read. The fact that this book comes from the words of men who’s ancestors had to deal with extreme hardships of German Hyperinflation in the 1920′s, makes it a credible source on outcomes of state controlled monetary indoctrination.(AKA 2010-The FED)
We are in the eye of the storm of America’s great cloud that hangs for the future. I feel that this book does a great job of enlightening the reader on just how serious the problems (can) and (most-likely) will be.
Unbelievably well written book that is easy to understand for the new comer of economic reading, yet packed with alot of clear thought and probable visions that help the experienced come to a better understanding of how economist from around the world are perceiving the problems that we all face in retrospect to the mismanagement of America, and all fiat monetary systems around the world.
Also this is one of the most current economic preparation books out so plenty of info on QE’s and all the latest of bubble building techniques the state is playing with to make Alice’s hole to Wonderland that much bigger……..
A must read.
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