In early 2003 I teamed up with my friend, John Rubino, to write a book explaining why the US dollar was headed for a total collapse.
Not too many years ago the dollar started down the same well-worn path traveled by all other national currencies that circulated only because of government fiat, or dictate. After 1971 the dollar was no longer backed by gold or silver. It became backed by nothing but government force, and like every other fiat currency before it, the dollar too was now absent the external discipline imposed by gold or silver on the creation of new currency.
Without that discipline, national currencies are inevitably issued to excess, and invariably end up in the fiat currency graveyard. Countless currencies are buried there, including the “continental dollar”, the first currency of the newly united 13 States. One of the reasons the framers of the Constitution aimed to create a “more perfect Union” was their response to the monetary turmoil resulting from the collapse of the continental dollar.
In 1792 the first Congress and President Washington promulgated into law the monetary precepts of the Constitution by creating the “silver dollar” and the “gold dollar”. But after 1971 these sound currencies disappeared into private hoards as savings, just as foretold centuries ago by legendary monetary theorist Sir Thomas Gresham – bad currency always drives good currency out of circulation. The sound dollars backed by precious metal were displaced by the “Federal Reserve dollar”, which in substance is no different from the continental dollar.
By ignoring the wisdom of the framers and the supreme law of the land, today’s Federal Reserve dollar will suffer the same fate as the continental. Hopefully, our book will help you prepare for the dollar’s collapse.
The Coming Collapse of the Dollar has been updated in a paperback version entitled The Collapse of the Dollar, which is available in bookstores and online.
“A great book. And its timing is superb; books that point to problems in the economy usually aren’t published until it’s too late to take action. Anyone who follows the advice in this book will, in my opinion, greatly increase their wealth over the next few years – at the same time that most people are losing their shirts.”
Doug Casey- Author, Investor and Editor of Casey Research
“This is a book that should be read by everyone who is interested in both their own investments and this nation’s future. I recommend this book highly.” Richard L. Russell – Editor of Dow Theory Letters
“Turk and Rubino are right: There is a crisis coming, and it will cause a collapse in the mountain of credit fostered by the monopoly central banks of the world. Read this book and find out how you can protect yourself while there’s still time.” – Robert Pretcher, Author of Conquer The Crash
“Debt matters in The Coming Collapse of the Dollar, and James Turk and John Rubino explain the final end game of decades of debt accumulation. More importantly, they lay out a road map of how to stay clear of the ‘Perfect Financial Storm.’ By reading this book you will be able to keep you and your loved ones safe, and by applying the authors’ advice, build real wealth in the process.” – Jim Puplava, Financial Sense Online
“James Turk and John Rubino have hit a home run here for investors who want to profit from the dollar collapse. Their educational approach is an easy read for those who want to do their homework and get up to speed on this extremely important financial matter. Gold will be the go-to investment for years to come. James and John let you know why and also about the various ways to participate in this investment opportunity of a lifetime.” Bill Murphy, CEO of G.A.T.A
“Finally, a clear, concise explanation of the monetary mechanisms that make debasement of any paper currency inevitable. This remarkable work not only demonstrates why it’s the dollar’s turn to collapse, it also shows what every American can do to profit from this unavoidable turn of events.” – Brien Lundin, Gold Newsletter Editor
“Turk and Rubino have issued a call to arms. They detail the coming battle we will all face to protect our wealth. Then they concisely outline what financial armaments you need to win. Fast-moving, compelling and extremely relevant to all investors.” – ROB McEwen, CEO of Goldcorp
“Acting as financial seismologists, James Turk and John Rubino point directly to evidence of major fault lines in the global financial structure that will, with certainty in the very near future lead to another major financial earthquake. Thankfully, the authors not only explain why the dollar is doomed and how you can protect yourself from impending financial devastation. In this easy to understand warning and guide to the future, they also explain how you can easily profit from the imminent collapse of the U.S. dollar. Ignore this book at your own peril.”
Jay Taylor, Editor of Jay Taylor’s Gold & Technology Stocks Newsletter
“I didn’t think much more could be said on this subject. I was wrong. Turk and Rubino demystify the mystery of money, and make an unarguable case for fleeing the dollar.” Franklin Sanders, Editor of The Moneychanger
“While some observers of the current U.S. financial landscape are derided as “economic girlie men,” authors James Turk and John Rubino are financial realists, keen observers whose case against the U.S. dollar is backed by economic history, not politics or Enron-style accounting. As Turk and Rubino note, hard times are hard only for the unprepared. Read this book and you will not only be prepared, you will profit greatly from what lies ahead.”
Robert Bishop, Editor, Gold Mining Stock Report
“For years I have been explaining to my friends and subscribers why they should own gold and gold stocks. This book explains it all. James and John have made my life much easier now. All I have to do is send them a copy.”
Claude Cormier, Editor Ormetal Report
“Congratulations to James Turk on a very timely book. It is time for everyone to understand money and why gold will protect their wealth. The book clearly describes the ongoing self-serving power games being employed by governments and central banks at the expense of all of us. Uncontrolled fiat money is at the root of many of the world’s problems. With the increased focus on corporate governance, it’s time for an investigation into the activities of the federal reserve and other central banks. Fortunately, in spite of all attempts to discredit gold, it remains as true honest money and store of value. The beauty is we don’t have to wait for the government to change things. We can return to honest money today simply and efficiently by using 100% gold-backed digital currency as described in the book. This book is a must read for all who wish to protect their wealth.” – Wiliam D. Pugliese, CEO of IAMGOLD
“If you think that the United States can run ever-increasing trade and budget deficits forever without inducing profound changes in the world’s financial system, if you think that things of intrinsic value can be created out of nothing as quickly and easily as the infinite money being created out of paper and electrons, this book can’t help you. (Maybe nothing can.) But if you suspect that reality can come crashing down hard on even the prettiest dream worlds and would prefer to be ready just in case, James Turk and John Rubino have provided a readable short course in reality’s money as well as a careful plan for accumulating and preserving wealth. There are no scare tactics here; what Turk and Rubino see happening is ALREADY happening and is simply public record. The question is only who wants to notice in time.” – Chris Powell, Secretary/Treasurer of G.A.T.A
“James Turk does an outstanding job of explaining why the dollar is doomed. Many investors outside the precious metals community look at the ‘gold bugs’ as being too radical. However, most investors really want to ‘make money’ without the slightest clue as to what money really is, what principals guide its value and when to shift their thinking and asset allocation to best work with the dramatic shift the world will experience in the future.” – David Morgan, Silver Investor Newsletter
Note: This article is based on my presentation to the Mines &
Leverage is the use of credit or borrowed capital to increase the