Tuesday, January 18, 2011
Will Analyst's "End Of America" Message Set Off Panic?
If you listen to talk radio or surf the Internet, you have no doubt encountered an advertisement placed by Porter Stansberry, a financial analyst who owns Stansberry & Associates. WIBC has been running an ad for him in regular rotation and a banner ad dubbed "End of America" appeared at the top of the Drudge Report for several days recently. If you visit the website, you will be greeted with a lengthy video message from Porter Stansberry that will literally scare the hell out of you. He is predicting a total financial collapse of our country this year that will lead to uncontrollable inflation and wipe out all of your investments and savings due to the US Dollar being replaced as the world's reserve currency. He talks of secret meetings that have already taken place between China, Japan, Russia, France and the Arab countries to make the move against the US Dollar because of our rising debt and the lasting unrest with us because of the 2008 financial meltdown. Stansberry is predicting riots throughout America as people discover their wealth has been wiped out literally overnight and suggests you find a place to retreat to the countryside if you live in major cities. I'm no financial analyst and don't know what's ahead for us, but I do know that if Stansberry's and others' views similar to his gain traction among the general population, the fear factor alone could set off a panic of unparalleled proportions. Of course, Stansberry isn't just running his ads for the good of the public. He has a publication which holds the secrets to surviving the economic collapse that no doubt holds wealth-making opportunities for him. I was kind of surprised Emmis Communications' WIBC is airing the ads, particularly given its own recent struggles as a publicly-traded company.