The Little Book of the Shrinking Dollar E-Book

Addison Wiggin

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Serie: Little Books. Big Profits
• Sprache: Englisch

Seitenzahl: 233

Veröffentlichungsjahr: 2012

Beschreibung

With the weakening dollar a hot topic for retirees, savers, and investors, this Little Book delves into the economic turmoil in the U.S. and shows how to survive it The United States dollar is losing value at an alarming rate. According to the Organisation for Economic Co-operation and Development (OECD) index, the U.S. currency is 37 percent below fair value against the Australian dollar and 20 percent versus the Canadian dollar. The decline of the U.S. dollar is one of the biggest threats facing American investors today, but with the Little Book of the Shrinking Dollar: What You Can do to Protect Your Money Now in hand, you have the knowledge and the expertise you need to fight back. Written by New York Times bestselling author Addison Wiggin, a leading economic forecaster, the book explores the reasons for the dollar's decline, and its precarious relationship to other currencies around the world. Filled with invaluable strategies for retirees, savers, and investors who want to keep their money safe no matter what lies ahead, the book is your one-stop guide to weathering the storm. * Covers strategies for safeguarding your wealth, including safer havens for money, alternative investments, and other opportunities * Written by Addison Wiggin, a three-time New York Times bestselling author and leading economic forecaster * Wiggin's predictions about the decline of the dollar have proven true time and again, making him the right man for the job when it comes to predicting what lies ahead The U.S. dollar is no longer the secure and stable currency that most Americans grew up believing in. Even after recent gains, the dollar remains weak. But with the Little Book of the Shrinking Dollar you have a concise guide to what's driving its demise and everything you need to protect your money today and in the years to come.

Leseprobe

Contents

Acknowledgments

Introduction

Chapter One: Dollar Decline

Dollar’s Popularity Doesn’t Protect It

The Old Lady of Threadneedle Street to USA: You’re Toast

Russia and Iran Are Ditching the Dollar

Chapter Two: Serial Bubble Blowers

Why Isn’t All This Intervention Working?

Bubblicious

How Does Money Printing Work?

When the Magic of Money Printing Wears Off

Running Out of Tricks

Who Chooses These Guys?

What Occupy Wall Street Got Right

What Occupy Wall Street Is Missing

Chapter Three: Economic Reality Check

What We Need Is More Manufacturing

Chapter Four: Debts Do Matter

And It’s Not Just the Government . . .

Debt Downgrades around the World

The Era of the Sovereign Default Is Now

Things Aren’t Looking Good over in Muni-Land

Bond King Confessional

Chapter Five: Inflation 101

Deflation Is Not a Dirty Word

What You Need to Retire!

Five Quick Inflation-Proofing Moves for Your Portfolio

Chapter Six: Something’s Gotta Give

Maintain Your Standard of Living—Despite the Central Bank

Try This Anti-Inflation Play

Phase III Retirement Investing

Is My 401(k) Safe?

Is My Bank Safe?

Why You Might Try a Shari’ah Bank

What About Retiring Overseas?

The United States Wants to Keep You as a Milk Cow

Offshore Trusts Aren’t Just for Big Corporations

Two Big Inflation-Outpacing Investments for Whatever the Future Holds

Chapter Seven: A Tale of Two Deficits

The Myth of the Yen Miracle Revealed

The Wisdom of “Dr. No”

The United States Reaches the 100 Percent Milestone

Chapter Eight: Dollar Codependents

Why Is the Dollar the World’s Favorite?

Why Peg?

Argentina 1991

Tequila Crisis 1994

Asian Banking Crisis 1998

Zimbabwe Hyperinflation circa 2006–2010

Why Not to Peg?

Pegging Destroyed This Safe Haven

Watch Out for This Government Crackdown

Chapter Nine: The Dollar’s Days Are Numbered

“Biggest Central Bank Gold Rush in 40 Years?”

Gold Buyers ‘R’ Us

Gold Is Getting Harder to Find

A Return to Sound Money

Chapter Ten: Currency Winners

Rick Rule Bets on the Chilean Peso

Michael Covel Gives a Total Strategy

Chuck Butler Goes for the Renminbi

Jim Rogers’s Home Currency: The Singapore Dollar

Peter Cooper Gives One to Avoid . . . and Three to Buy

Commodity-Backed Currencies to Consider

But What About the Euro?

Chapter Eleven: Dollar Apocalypse

China Ends Dollar’s Reign

Ron Paul: Expects a Basket . . . of Gold

Bill Bonner Lists the Dollar’s Three Main Downfalls

Lawmakers Aren’t Ready to Act

What the Dollar’s Day of Reckoning Will Look Like

Change How You Think

Chapter Twelve: Tips on Surviving the Next Crisis

How Would You Like That Gold?

Profit from Playing Commodity Catch-Up

Spring for the Picasso?

Get Serious about Protecting Your Wealth

Seven Steps to Surviving the Next Crisis

Feel Like You Don’t Know Where to Begin? Start Your Own Investing Group

Additional Praise for The Little Book of the Shrinking Dollar

“A financial catastrophe is approaching. How? When? No one knows exactly. It might not happen for a decade or more. But investors who do not know the full risks could be blown up. Addison Wiggin’s Little Book of the Shrinking Dollar helps prepare the average American for anything that can happen. Read this book and be prepared.”

—Bill Bonner, “The Daily Reckoning”

“People with income, savings, or investments denominated in the U.S. dollar—and that means all of us—face a period of great difficulty in the years ahead. To stay ahead of events, you’ll want to keep this book close at hand.”

—Charles Goyette, Bestselling Author of Red and Blue and Broke All Over: Restoring America’s Free Economy

“This latest effort is a must read for investors and speculators whose wealth is denominated in U.S. dollars. While the topic is certainly not pleasant, this book is easy to read, and insightful.”

—Rick Rule, Founder, Global Companies, Sprott Asset Management

“The Little Book of the Shrinking Dollar will form part of one of the most important economic debates of our time.”

—Tom Burroughes, Group Editor, ClearView Financial Media, United Kingdom

“With The Little Book of the Shrinking Dollar, Addison has added to his legacy that began with I.O.U.S.A., and has managed to extract new insights from the sordid tale of fiat currencies. He outlines where we are, how this can be corrected, and how to protect your purchasing power.”

—Chuck Butler, President, EverBank World Markets

“Addison Wiggin was among the first to highlight the extent of American indebtedness and to warn of its consequences, the most devastating of which will be the demise of the paper dollar. Addison’s new book is a wake-up call to the private investor, full of astonishing statistics and thought-provoking investment ideas.”

—Detlev Schlichter, Author, Paper Money Collapse

“John Maynard Keynes: ‘Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency . . . There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency . . . and . . . in a manner which not one man in a million is able to diagnose.’ Addison Wiggin is that ‘one man in a million.’”

—Ralph Benko, Contributor, Forbes.com; Principal, Capital City Partners, LLC

“The debasement of the U.S. dollar is a subject that Addison Wiggin has been commenting on with insight and forcefulness for a decade. His latest work is a valuable addition to our understanding of what is happening to the world’s most important, and imperiled medium of exchange.”

—Eric Sprott, Sprott Asset Management LP

Little Book Big Profits Series

In the Little Book Big Profits series, the brightest icons in the financial world write on topics that range from tried-and-true investment strategies to tomorrow’s new trends. Each book offers a unique perspective on investing, allowing the reader to pick and choose from the very best in investment advice today.

Books in the Little Book Big Profits series include:

The Little Book That Still Beats the Market by Joel Greenblatt

The Little Book of Value Investing by Christopher Browne

The Little Book of Common Sense Investing by John C. Bogle

The Little Book That Makes You Rich by Louis Navellier

The Little Book That Builds Wealth by Pat Dorsey

The Little Book That Saves Your Assets by David M. Darst

The Little Book of Bull Moves by Peter D. Schiff

The Little Book of Main Street Money by Jonathan Clements

The Little Book of Safe Money by Jason Zweig

The Little Book of Behavioral Investing by James Montier

The Little Book of Big Dividends by Charles B. Carlson

The Little Book of Bulletproof Investing by Ben Stein and Phil DeMuth

The Little Book of Commodity Investing by John R. Stephenson

The Little Book of Economics by Greg Ip

The Little Book of Sideways Markets by Vitaliy N. Katsenelson

The Little Book of Currency Trading by Kathy Lien

The Little Book of Stock Market Profits by Mitch Zacks

The Little Book of Big Profits from Small Stocks by Hilary Kramer

The Little Book of Trading by Michael W. Covel

The Little Book of Alternative Investments by Ben Stein and Phil DeMuth

The Little Book of Valuation by Aswath Damodaran

The Little Book of Bull’s Eye Investing by John Mauldin

The Little Book of Emerging Markets by Mark Mobius

The Little Book of Hedge Funds by Anthony Scaramucci

The Little Book of the Shrinking Dollar by Addison Wiggin

Copyright © 2012 by Addison Wiggin and Samantha Buker. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

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Library of Congress Cataloging-in-Publication Data:

ISBN 978-1-118-24525-5 (cloth); 978-1-118-28317-2 (ebk); 978-1-118-28430-8 (ebk); 978-1-118-28506-0 (ebk)

For Jennifer, Meritt, Augie, and Lizzie

Acknowledgments

While it’s impossible to thank everyone who contributed to the ideas and arguments expressed in this book, the authors would like to thank the many people without whom the actual words selected would not have been possible.

Many thanks, of course, to the ever-patient Debra Englander, Kimberly Bernard, and Stacey Fischkelta at John Wiley & Sons.

We’d like to give a shout-out to our favorite experts in the financial and economic communities whose opinions we regard highly. Specifically, we’d like to thank those who’ve shared their ideas, forecasts, and advice with us for these pages: Chuck Butler, Peter Cooper, Michael Covel, Charles Goyette, Byron King, John Mauldin, Christopher Mayer, the Honorable Dr. Ron Paul, Michael Pento, Rick Rule, Eric Sprott, Jeffrey Tucker, Tim Maurer, Marc Faber and Jim Rogers.

We owe a great debt to Ralph Benko, who applied his eyes to every page of this text and corrected us more than once, in tone and in fact. And a great many thanks go to our mentor, the incomparable Bill Bonner.

And finally, a special thanks to Samantha Buker. Sam is as astute a student as she is skilled as a writer. Without her diligence and hard work, this book would never have happened.

Introduction

What If the Power of Money Were in Your Hands?