Skip to comments.The Looming Disaster Explained (Porter Stansberry)
Posted on 04/05/2011 7:42:24 AM PDT by Tribune7
Stansberry & Associates Investment Research, an investment firm, is getting some notice and causing some controversy on the World Wide Web with a video warning of an impending collapse of the dollar which it claims will usher in 1,000 percent inflation and months of domestic turmoil.
If you get to the very end of it you'll find it to be a sales pitch. Still, Porter Stansberry makes some points worth considering:
--If all Americans paid 100 percent of their income in taxes it would still not pay off the national debt.
--That our government owes more money to more people than anyone else in the world -- and that was before the financial crisis.
(Excerpt) Read more at blog.billlawrenceonline.com ...
We do have a choice...
I tried watching his video. I love apocoliptic type stuff. He bored the heck out of me to the point where I stopped paying any attention about 20 minutes in. Maybe if there was text of it available?
Close the video page, press cancel and the full text should show up.
So if PS is even only half right on this, it’s going to get really bad in this country this year. How bad do you think it will get? I’m stocking up on food and ammo just in case the family and I have to hunker down until it all blows over.
This stuff is total garbage and total nonsense.
To be sure, there’s a substantial danger of inflation today for the USA. But we’re talking about something in the “per annum” range of ten percent, plus or minus five.
Therefore, if somebody starts predicting anything remotely close to 1000 per cent inflation, you can be sure he’s either (1) just plain loony or (2) a shameless liar. Don’t waste your valuable time with such.
This clearly can’t be the case. People on FR have been telling me that deflation is the real threat.
I’m no economist, but I do know that the Feral Government can’t pay its bills in a deflationary environment. The Fed intends to get inflation one way or another.
I read through that monster.... and at the end, a pitch for 99bucks.
It will lead IMO to an 80% devaluation of the dollar from present levels in the space of a month. Not necessarily hyperinflation, but a sharp devaluation event.
Which month? Possibly as soon as July 2011, the month after QE2 is supposed to stop. Possibly as late as July 2012.
When D-month happens, anyone holding USD currency will be wiped out.
And I don’t mean just in America. 60% of all USD is held overseas - and quite a lot of it is held by my own dear UK.
FReepers should take the usual domestic precautions, and also hold hard assets and precious metals.
I have received this video several times in e-mail, including one today. You have more patience than I. I couldn’t get through 3 minutes of it. I was hoping someone on FR would post an FR analysis:) Glad I didn’t waste anymore time on it.
Me too. Gave it 20 minutes of him telling me the same problem over and over again with no real information.
What say you, Ferfal?
This guy uses the Ogilvy method of marketing developed by the master marketeer in the 1930’s....he is selling something....total hogwash
I watched all of it.
He has 4 strategies for weathering the disaster.
One,..Get your money out of the country to some place the gov. doesn’t know.
Second,..Buy precious metals, silver the preferred.
Third,Fourth,.. gotta buy his service for them. $99/ yr.
(but if you call in the next 20 min., because we can’t do this all day, it’s $49.95)
>> It will lead IMO to an 80% devaluation of the dollar from present levels in the space of a month. <<
About as likely as Donald Trump’s winning the GOP nomination and then picking or Helen Thomas as his VEEP running mate.
You're tougher than me. I went to the YouTube version & skipped to the end.
Buy his newsletter.
I’m as skeptical as the next guy, but I think this video has two values: One, it really DOES educate people and two, it makes him some money. If you listen to him and then watch Chris Martenson’s crash course http://www.chrismartenson.com/crashcourse
You will get a good picture of what’s happening even if you don’t buy his service.
>>We do have a choice...
At the end he says, “The question is, will we do it or not? It is up to us.”
Look around you. Look at the polls. Look at the fight we had in Wisconsin. “We” is the electorate, and they are the blue counties.
The answer to his question is, “No, we won’t.” It is why ones most powerful survival asset will be a place to go to where they can be self sufficient and be able to reasonably defend that place. There will be no guarantees, but it will improve the odds.
Actually, a month may be too generous.
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