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.


guy77money said...

I heard that ad last week. What a bunch of malarkey! Exactly whose currency would replace the dollar? The Euro is worse off then the dollar and the Chinese currency is not ready for prime time. Now he could be right, but it will be 7 to 10 years from now before the dollar is replaced by another currency.
The U.S. is headed down the same road as Great Britain. We keep trying to be the world's cop and fighting holding actions instead of winnable wars. On top of that we are doing are best to have the Federal government take over the health care industry. Instead of doing what a government should do is regulating the industry. Then of course who am I kidding, politicians doing a good job of regulatory enforcement. There is a silver lining, it'easy to short the market with ETF's and relatively simple to invest in the markets overseas.

M Theory said...

China will buy up as much of the US as possible. Property will give them a voice in government our government.

I started figuring out what was going on in early 2008. Don't buy ETF's. Read the 28-pg report by Katherine Austin Fitts which details the manipulation in the silver market by JP Morgan Chase.


Buy the real thing. Learn how much silver is produced versus how much is needed for industrial purposes. Study how much bullion foreign governments are buying.

Currently about 3% of the population is in metal. It is still early.

I don't view any paper as safe, including your home (unless you own it outright).

M Theory said...

If you don't think it is the End of America, look at Drudge today (or any day).

But don't worry, America will still have beer, football gladitoriums, and plenty of fast and processed foods.

I only wish they would put those TSA full body naked scanners at the gladitorium gates.

Citizen Kane said...

Americans are too complacent to panic. That is why they ignored the obvious signs of the tech bubble, the housing bubble and every other little bubble before and since.

There are plenty of other people who have been warning of this also, so he may be taking advantage, but he may not be wrong.

Seven to 10 years is wishful thinking. I would believe it would occur this year before I would believe we will survive another decade or more as the reserve currency.

Cato said...

If I can possibly be of some assistance, I'd like to take the role of Leonides, kicking this festering mess of forced servility, police brutality, police unaccountability, degrading prostrations before the state, constant surveillance, mass imprisonment and almost total lack of freedom into a bottomless pit.

I've often said that if an enemy army landed at our shores, my first response would be to ride out under a white flag to see what terms of governance they propose. A moderately fair marauder could hardly do worse than this.

In the better corners of this globe, few consider America a free country, and the dearth of immigrations from first world countries bear witness to the happiness of other peoples that they don't live in the U.S.

Brent Perry, CFP said...

I'm a little surprised you didn't call b.s. on someone like Porter Stansberry. This guy is one of the dozens of financial "newsletter" hucksters that scam people by preying on emotions and fears. The following link should remove any shred of credibility he may seem to have.

Gary R. Welsh said...

Brent, I had never heard of the guy until I started seeing his ads all over the Internet and his non-stop radio ads on WIBC. That's why I questioned why Emmis Communications would allow him to run ads on their stations. Thanks for sharing.

M Theory said...

About six weeks ago a friend came over and played the video for me several weeks before he became a sponsor of Infowars. I dismissed it because it was being used to sell something.

However, every good con, uses a lot of truth to make the con work.

Read Katherine Austin Fitts report on the silver market.

american patriot said...

Brent - thanks for the link. My mom subscribes to one of the Stansberry 'newsletters'. She had me come over and watch one of his DVDs which promised to tell her how to make oodles of profits. After 10 min of absolutely nothing but dribble I fast forwarded to the end where they come on with the $1400 pitch to find out how easy it is.
I think she is finally seeing the light in these scams. She has always been the type to believe that if it's being advertised it must be true.
I subscribe to the Daily Reckoning free email and enjoy the commentary, but never pay to get their advice.