BOOK REVIEW: The Dollar Meltdown

BusinessPundit.com: Charles Goyette has spent much of his life thinking about money. He has contemplated how it works, how governments manipulate it, and how it stores value.

Goyette, a radio show host, precious metals pro, and libertarian, shares his views on fate of the US dollar in “The Dollar Meltdown.” In his four-part book, Goyette details where the US economy and dollar are now, how we got here, what might happen next, and how to protect your money.

The topics Goyette presents are necessary reading for anyone wanting a well-rounded perspective on the current US economy.

Even if you don’t agree with some of Goyette’s strong libertarian viewpoints, his colorful writing and factual anecdotes make “The Dollar Meltdown” an interesting read.

As its cover might imply, “The Dollar Meltdown” isn’t a gentle introduction to the collapse of the dollar. Libertarians and Austrian school aficionados would feel most at ease with this book. Refreshingly, the nonpartisan author implicates both Democrats and Republicans as fiscal and monetary ne’er do gooders.

Goyette says “the body economic is shuddering from the relentless compulsions of meddlers.” Thanks to government intervention in money and markets, the US faces runaway inflation. Between Sept 2008-March 2009, US monetary base grew 199%. Add the domestic dollar supply to foreign dollar reserves—up to half of US dollar reserves are in foreign hands—and you have a potential oversupply.

The country’s debt situation is making holders of dollars, both foreign and domestic, nervous about the value of their greenbacks. Goyette writes that our national debt adds up to $42,000/person for the bailout (March 2009 numbers). On top of that, China owns $767 billion in US Treasury securities. That’s the equivalent of each individual American borrowing $3,300 from people in China.

- Read the entire review HERE