Book Review: The Real Crash By Peter Schiff (2012)
In case you are in the Bitcoin space and have been living under a rock, Peter Schiff is the hyper Bitcoin skeptic who actively bashes Bitcoin on Twitter and in the Podcast space. Bitcoin aside, I agree with him on fundamental economic issues. Let me just start by saying, Peter Schiff loves him some Peter Schiff. He overplays his hand in regard to 'single-handedly' calling the housing bubble-- even a broken clock is right twice per day. He frequently reminds you throughout the book how smart he is, and touts his investment products. He's pretty entertaining personality-wise and the theatrics between himself and his son (who is a Bitcoiner) are entertaining (Though I think they are a ploy, but don't get me started).
Back to the book. This book was an easy read. I found the first edition in a second hand store, which was written in 2012. I mainly bought it since he has so much notoriety as a Bitcoin troll. It's sad because he shares so much ideology with many Bitcoiners. He released an updated edition in 2014, though I'm not sure much changed between those years. That being said, a whole lot of change has occurred in the last decade. In the books he makes some suggestions on where to invest. He suggests investing in countries including China and Hong Kong, which I feel was a bad idea in retrospect. Singapore was also mentioned and I can agree with him there. He also mentions gold, though he portrays it in this book as not an investment, but as another currency that competes with the various fiat currencies. Gold can and should be sold when making more opportunistic investments. I agree with his take, gold is for preservation. You aren't going to create much in terms of wealth or income by owning physical gold, though that potential does exist with gold mining stocks.
Also in the book Peter describes many of the problems facing the U.S. circa 2012, which haven't changed much in present day. These include health care, education, property rights, decriminalization, etc. He does offer some solutions, but none are really realistic, practical, or politically expedient. It is good as a general rule to not simply complain about the problems, but to offer solutions. I do appreciate his characterization of the problems, and agree with most of it.
The general theme of the book, which is the risk of eventual collapse of the US Dollar and its loss of reserve currency status, has a stronger case today than it did in 2012. If you happen to find this book for a couple bucks in a second hand store, it's worth a read. Otherwise there are better resources out there. Principles for Dealing with the Changing World Order: Why Nations Succeed or Fail by Ray Dalio comes to mind. I'm about half way through it in audio form, and it is a simply awesome listen.
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The operators doing V2K with remote neural monitoring want me to believe this lady @battleaxe is an operator. She is involved in the same discord groups around @fyrstikken and friends. Her discord is Battleaxe#1003. Shes in some groups with seemingly detached characters that dont even acknowledge the others in the group, looking oddly staged. She starts projects and does nothing with it or the delegations after its used to sway people. Like @steempowertwins does<------fake along with her @teamgood <------fake. No substance in her comments and has a following that adores her for what? Life coach she is not nor is she insightful with any meaningful skills to follow. Ruler of pixie dust maybe? I would like for someone to show me but probably wont out fear maybe? @fyrstikken groups around him down voted me into censored and not viewable on my accounts as soon I told what they were doing.
I cant prove @battleaxe is the one directly doing the V2K and RNM. Doing it requires more than one person at the least. It cant be done alone. She cant prove she is not one of the ones doing V2K because she cant and could care less. I guarantee she knows this is going around and still wont prove it because she cant. Many of us here can prove what they have been doing to survive the past 5 years. What does she live off of? It definitely isnt in public view here.
I was drugged in my home covertly, it ended badly. They have been trying to kill me using RNM with applied V2K mental games while revealing as many accessories to the crime as they can. I bet nobody does anything at all. Ask @battleaxe to prove it. I bet she wont. Pretty serious accusations to just blow off and leave the crypto community hanging in fear of this danger.
They want me to believe the V2K and RNM in me is being broadcast from her location. And what the fuck is "HOMELAND SECURITY" doing about this shit? I think stumbling over their own dicks maybe? Just like they did and are doing with the Havana Syndrome. They should start by looking at the communications between the top witnesses of Hive and the connection to @fyrstikken groups. Google his fucking name and see where his other interests lie around at least once maybe? The connections between @fyrstikken groups and all the exchanges built for Hive? Bet that would reveal some crazy ball less nutty shit. Homeland security should start preparing for their own incarcerations seeing how sloppy this was done. Patriot act my ass. Think we are really fools? Bad position your not getting out of. Dont be last to blow the whistle. Who will protect you?
People in and around @fyrstikkens groups are reckless and should have shown the proper media what they had before taking me hostage for 5 long torturing years and counting. That is a long time to wait for someone to die.
What would you say while having a gun pointed at your head from an undisclosed location? Have people find it? My hands are tied while they play like children with a gun to my head. Its a terrorist act on American soil while some yawn and say its not real or Im a mental case. Many know its real. This is an ignored detrimental to humanity domestic threat. Ask informed soldiers in the American military what their oath is and why nothing is being done. Nobody has I guess. Maybe someone told ill informed soldiers they cant protect America from military leaders in control that have ill intent. How do we protect locked up soldiers prevented from telling the truth from being treated as criminals? Not to mention civilians we let our leaders treat the same way. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism-terrorism
I could add it to my list of investment books but I have about 2 books I need to read..
I've read both. The Graham book is timeless for value investing. The Bogle book is going to push you towards S&P 500 index investing, but I'm really not sure if that's a good idea these days...
Hmmm.... So what do you advice
If it is Peter it is definitely going on my to-read list. Awesome piece by the way.
Thanks!
If I built my life around bitcoin, I couldn't go against bitcoin and I would shit all over shitcoins. It's in Peter's best interest that gold surpasses BTC as the prime reserve asset. Unless he started secretly building BTC reserves I wouldn't ever expect him to turn on gold. I thought that diversification was the best way to go though? I think the guy who can bridge the crypto/PMs divide will be king while Schiff will continue to miss out.
All people have public and private faces. I suspect his son is the proxy for his private face.
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