MAR 7, 2011 - Stansberry's Investment Advisory is that "End of American" video you've been hearing about on radio and TV over the last few months. You may as well watch it now, if you haven't already; if nothing else, so you won't get bowled over the next time there's a panic. In brief, this presentation predicts a major collapse of the US monetary system. One key uncomfortable fact that Porter Stansberry focuses on is that even if all US citizens were taxed at 100% of their income, it would still not be enough to balance the budget. Obviously, this makes a debt default by the US government inevitable. And that happens, he says, when the US dollar loses its unique status as the world's reserve currency. It only sounds complicated if you haven't been paying attention to what's been happening in the world - or to my forecasts for several years now, e.g. my 2006 and 2008 World Forecast Highlights. (Part of Stansberry's argument is consistent with my presentation and understanding - and part of his argument is just plain wrong, for reasons explained in my forecasts. I'm not recommending that you run off and follow Porter Stansberry's every recommendation; at least, not without looking over his SEC record. But there's an element of truth in the scenario he's painting, and it's not a bad idea to start thinking about how you might be able to keep you and yours out of harm's way. There's no ark any of us can build that will withstand the kind of deluge Stansberry describes, mind you. But that deluge isn't the one that's coming, as best I can tell.
