Jun 1, 2014

Recommended Readings: Global Financial Meltdown

The Global Financial Meltdown shows that the risk is real. You may lose everything in just seconds.

Of course the crisis has not happened just like it. It is a result of many flaws in the system. Many researchers and finance specialists have warned us about the risk.

Here is a list of "Survival Guide" readings to educate yourself against some death traps. Could it help really? One thing is for sure, you will learn a lot. BIG LESSON TO RETAIN: Don't live on credit, ever.

1. Original Title in English: 
Financial Armageddon: We Are in a Battle for our Very Survival...
Author: John Hagee

Book Review:

Everything prophesied in the Bible is coming to pass! It is no secret that we are living in a time of global crisis. The financial meltdown of Wall Street, bank failures, the subprime lending crisis, and uncontrollable gasoline prices are creating enormous stress for Americans. And now, we are facing an economic crisis that many are comparing to the events leading up to the...morel

TABLE OF CONTENTS : http://www.armageddonbooks.com/505hagee.html

2. Original Title in English: Crisis Investing (1980)
Author: Douglas R. Casey 

Book Review:

"In 'Crisis Investing', Douglas Casey offers virtually irrefutable evidence that a major crash of the U.S. economy is now inevitable. If Casey is correct, then prudent, thrifty Americans who have prepared for the future in traditional ways will soon be completely wiped out." 

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

Authors: James Turk (Author) , John Rubino (Author)

4. Original Title in English: Economics in One Lesson
Author: Henry Hazlitt

Book review: 

This primer on economic principles brilliantly analyzes the seen and unseen consequences of political and economic actions. In the words of F.A. Hayek, there is "no other modern book from which the intelligent layman can learn so much about the basic truths of economics in so short a time."


  • http://www.fee.org/library/detail/economics-in-one-lesson-pdf-doc-audio#ixzz2pX5ER700
  • http://www.fee.org/files/doclib/20121116_EconomicsInOneLesson.pdf

5. Original Title in English: 

  • Gold Wars: The Battle Against Sound Money As Seen From A Swiss Perspective  by Author: Ferdinand Lips 
  • The Gold Wars: The Tea Party Economist by Author:  Gary North
Book Introduction: 

There is a war against gold. Politicians hate a rising price of gold. So do centralbankers. A rising price of gold testifies against the politicians, who spend more moneythan they collect in taxes or borrow at interest, and it also testifies against central bankers,whose promises to stop rising prices is a lie that has not come true since about 1939. So, these people do whatever they can to ridicule gold and gold buyers. They dowhatever they can to drive down the price of gold – everything except the one thing thatwould drive it down: cease inflating. 

Download: http://www.garynorth.com/GoldWars.pdf

6. Original Title: 
The Coming Fiat Money Cataclysm and the Case for Gold
Authors: Kevin Dowd, Martin Hutchinson, and Gordon Kerr


Definition of 'Fiat Money': 

Currency that a government has declared to be legal tender, but is not backed by a physical commodity. The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of. Historically, most currencies were based on physical commodities such as gold or silver, but fiat money is based solely on faith. Fiat is the Latin word for "it shall be".

Investopedia explains 'Fiat Money'Because fiat money is not linked to physical reserves, it risks becoming worthless due to hyperinflation. If people lose faith in a nation's paper currency, like the dollar bill, the money will no longer hold any value. Most modern paper currencies are fiat currencies, have no intrinsic value and are used solely as a means of payment. Historically, governments would mint coins out of a physical commodity such as gold or silver, or would print paper money that could be redeemed for a set amount of physical commodity. Fiat money is inconvertible and cannot be redeemed. Fiat money rose to prominence in the 20th century, specifically after the collapse of the Bretton Woods system in 1971, when the United States ceased to allow the conversion of the dollar into gold.

Useful readings: http://www.investopedia.com/terms/f/fiatmoney.asp

7. Original Title: The Dollar Crisis: Causes, Consequences, Cures
Author: Richard Duncan

Book Description: 

In this updated, second edition of the highly acclaimed international best seller, The Dollar Crisis: Causes, Consequences, Cures, 
Auhor Richard Duncan describes the flaws in the international monetary system that have destabilized the global economy and that may soon culminate in a deflation-induced worldwide economic slump.

The Dollar Crisis is divided into five parts:

  • Part One describes how the US trade deficits, which now exceed US$1 million a minute, have destabilized the global economy by creating a worldwide credit bubble.
  • Part Two explains why these giant deficits cannot persist and why a US recession and a collapse in the value of the Dollar are unavoidable.
  • Part Three analyzes the extraordinarily harmful impact that the US recession and the collapse of the Dollar will have on the rest of the world.
  • Part Four offers original recommendations that, if implemented, would help mitigate the damage of the coming worldwide downturn and put in place the foundations for balanced and sustainable economic growth in the decades ahead.
  • Part Five, which has been newly added to the second edition, describes the extraordinary evolution of this crisis since the first edition was completed in September 2002. It also considers how the Dollar Crisis is likely to unfold over the years immediately ahead, the likely policy response to the crisis, and why that response cannot succeed.The Dollar Standard is inherently flawed and increasingly unstable. Its collapse will be the most important economic event of the 21st Century.


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