Book 46

Crash Proof by Peter D. Schiff

Type: Nonfiction, Business & Investing

My rating: 5 stars (out of 5)

Why I chose it: I originally planned to give this book to a friend for his birthday. Then I did not see my friend for several months. Then I heard Peter Schiff speak in Valley Forge at a Campaign for Liberty conference. Then I had Peter sign the book. Then I read it.

What I liked about it: This book was written in 2006 and published in early 2007. Just like the YouTube videos called "Peter Schiff Was Right" this book also predicted the housing market collapse and the current economic downturn.

This book explains why sound money is essential and why all fiat (paper) currencies destruct over time. Peter uses lots of real world analogies to simplify economic and business principles to make them very easy to understand. There are fantastic chapters on the origin and function of money, inflation, the real estate bubble, and ways to protect yourself from a stock market or dollar collapse.

I have added this to my "Required Reading List" on understanding the current economic collapse, which also includes Meltdown by Thomas E. Woods and End The Fed by Ron Paul.

Peter Schiff is the President of Euro Pacific Capital and has never been in politics. He has been encouraged to, and has decided to run for Senate in Connecticut. Peter is the type of person we need to replace almost all those currently sitting in Congress.

Note: A second edition of this book was released in September 2009 called Crash Proof 2.0.