From Yahoo News and Vision to America:
"The End of America”: Porter Stansberry Sees the Future ... And It's Grim
Posted Feb 16, 2011 07:30am EST by Stacy Curtin
Related: ^DJI, ^GSPC, GDX, MOO, GLD, UUP, DBA
.If you thought the economy was starting to improve, think again. Things are actually going to take a turn for the worse -- much worse, says Porter Stansberry, founder of Stansberry & Associates.
In a shocking video entitled “The End of America”, Stansberry paints a very grim picture of the future of the United States. According to Stansberry & Associates, the Web video has been seen by more than 7 million people since its launch late last year.
Stansberry is not predicting the end of days or the collapse of our political union. But he is forecasting the end of America’s global economic dominance, ultimately resulting in rioting and protests across the country.
With trillions of dollars of debt and a Federal Reserve that has engaged in two rounds of quantitative easing (and QE3 potentially on the way), his point is that the financial stability of this country is on shaky ground. “Sooner or later our creditors are going to say 'enough is enough',” he tells Aaron in the accompany clip. “We need a reliable currency that can’t be printed.”
The logical solution for Stansberry is to revert to the gold standard since it worked for 4,000 year prior to 1971, when America abandoned the peg. Should gold once again become the world's reserve standard, its price will likely hit $7500 he says.
So how long do Americans have before the world dumps the dollar?
Well, according to Stansberry, we’re already in the thick of it. “If you go anywhere around the world, most wealthy people have already abandoned the dollar,” he says. “If you look at the commodity complex you can see very clearly that many people around the world have [already] abandoned the dollar as the reserve currency."
If something is not done to remedy this country’s tremendous debt load and stop the flood of dollars into the market, the rest of the world will eventually drop the dollar completely for hard assets - such food, he says.
Stansberry points out that millions of Americans are already living off of food stamps. Should the price of food rise so dramatically, millions more will go hungry.
Without affordable food, jobs or retirement funds, he predicts Americans will take to the streets in protest, similar to what's occurred in Egypt, Greece and other nations.
Stansberry really does not want to be the bearer of such bad news, but says Americans need to wake up now, before it’s too late!
Editor's Note: For Stansberry's tips on how to protect yourself investments against this potential looming crisis, see part two of our interview later today.
.
"The End of America”: Porter Stansberry Sees the Future ... And It's Grim
Posted Feb 16, 2011 07:30am EST by Stacy Curtin
Related: ^DJI, ^GSPC, GDX, MOO, GLD, UUP, DBA
.If you thought the economy was starting to improve, think again. Things are actually going to take a turn for the worse -- much worse, says Porter Stansberry, founder of Stansberry & Associates.
In a shocking video entitled “The End of America”, Stansberry paints a very grim picture of the future of the United States. According to Stansberry & Associates, the Web video has been seen by more than 7 million people since its launch late last year.
Stansberry is not predicting the end of days or the collapse of our political union. But he is forecasting the end of America’s global economic dominance, ultimately resulting in rioting and protests across the country.
With trillions of dollars of debt and a Federal Reserve that has engaged in two rounds of quantitative easing (and QE3 potentially on the way), his point is that the financial stability of this country is on shaky ground. “Sooner or later our creditors are going to say 'enough is enough',” he tells Aaron in the accompany clip. “We need a reliable currency that can’t be printed.”
The logical solution for Stansberry is to revert to the gold standard since it worked for 4,000 year prior to 1971, when America abandoned the peg. Should gold once again become the world's reserve standard, its price will likely hit $7500 he says.
So how long do Americans have before the world dumps the dollar?
Well, according to Stansberry, we’re already in the thick of it. “If you go anywhere around the world, most wealthy people have already abandoned the dollar,” he says. “If you look at the commodity complex you can see very clearly that many people around the world have [already] abandoned the dollar as the reserve currency."
If something is not done to remedy this country’s tremendous debt load and stop the flood of dollars into the market, the rest of the world will eventually drop the dollar completely for hard assets - such food, he says.
Stansberry points out that millions of Americans are already living off of food stamps. Should the price of food rise so dramatically, millions more will go hungry.
Without affordable food, jobs or retirement funds, he predicts Americans will take to the streets in protest, similar to what's occurred in Egypt, Greece and other nations.
Stansberry really does not want to be the bearer of such bad news, but says Americans need to wake up now, before it’s too late!
Editor's Note: For Stansberry's tips on how to protect yourself investments against this potential looming crisis, see part two of our interview later today.
.
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