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#1
If you have some time on your hands, and have any interest in remaining informed in the going-ons in our global economy, you should take the time to watch this presentation... particularly American citizens.

I warn you, it's a very heavy topic, and after it's over you will likely want to invest in high amounts of gold.

I'd like to hear your thoughts on this man's points.
"The future's uncertain, and The End is always near."
-Jim Morrison
#3
Quote by gabcd86
TL;DW. The disclaimer was off-putting, it must be said. Summary?


The days of the U.S. dollar as the global "reserve currency," are numbered due to the fact that global confidence in the dollar is depreciating. European and Asian countires are, right now, beginning to use their own currencies to purchase and trade oil instead of the U.S. dollar. China, Russia, and many countries in the middle east and europe are actively attempting to destabalize the U.S. dollar by not exchanging their currency for the dollar before trade.

There's a lot of material, too much to TL;DW... but, this mans points are far beyond fear-mongering.

I'll try, though;... the world is calling for a new reserve currency, and when that happens, the US dollar will become next to worthless, and since the U.S. government has the ability to print the reserve currency, we are spoiled and unable to see the effects that will ensue from losing our ability to print the global standard currency.
"The future's uncertain, and The End is always near."
-Jim Morrison
Last edited by SlinkyBlue at Mar 21, 2011,
#4
Australia is gonna kill you all!!!
You want some more seeneyj hate? WELL YOU CAN'T HAVE IT

You're all a bunch of f*cking slaves! - Jim Morrison

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#5
The dollar is currently 1.6 odd against Sterling, which isn't exactly strong anyway atm (sterling that is).
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#7
Quote by L2112Lif
This was posted about two months ago, and its a load of bull. As I posted back then:



Care to defend your stance?
"The future's uncertain, and The End is always near."
-Jim Morrison
#8
Seen this before, it was posted on UG earlier.

It's an interesting watch if you've got the time.

In the end he says how to fix it for yourselves, and that includes buying silver, for it will increase in value.
And you should have a safehouse where you can flee in case rioting starts.
DeVillains!
#9
Quote by SlinkyBlue
The days of the U.S. dollar as the global "reserve currency," are numbered due to the fact that global confidence in the dollar is depreciating. European and Asian countires are, right now, beginning to use their own currencies to purchase and trade oil instead of the U.S. dollar. China, Russia, and many countries in the middle east and europe are actively attempting to destabalize the U.S. dollar by not exchanging their currency for the dollar before trade.

There's a lot of material, too much to TL;DW... but, this mans points are far beyond fear-mongering.

I'll try, though;... the world is calling for a new reserve currency, and when that happens, the US dollar will become next to worthless, and since the U.S. government has the ability to print the reserve currency, we are spoiled and unable to see the effects that will ensue from losing our ability to print the global standard currency.


Oh right. Well, since the end of Bretton Woods, this day has been fairly inevitable.

Does he go into the actual real consequences of this? Most of the world doesn't have a global reserve currency, and copes fairly well. Is it an issue of there being billions of USDs in circulation because of other countries foreign currency reserves, and once they're useless, supply will far exceed demand?
#10
Et tu Slinky Blue?
Porter Stansberry is a charlatan and a fraud.
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#11
PORTER STANSBERRY & PIRATE INVESTOR SCAM IS NAILED IN SEC INVESTMENT FRAUD LAWSUIT

* History of abjudicated stock fraud * one of the largest Promise-to-Performance divergences * suspicion of share price manipulation via single-stock trader service promotion * unresponsive to multiple requests for track record proof *

http://briandeer.com/vaxgen/stansberry-fraud.htm

http://greenlaserreviews.com/2010/12/03/stansberry-review/


Don't feel bad, Slinky - this has been plastered all over reddit.
Last edited by blue_strat at Mar 21, 2011,
#12
Quote by SlinkyBlue
Care to defend your stance?



Chinese population growth isn't strong enough to support their rapidly growing economy. It will decrease in size faster than a total collapse of the US economy will happen. Our days of #1 might be ending, but its not like we're gonna slip to the back of the pack, and those countries that stand at the top ten aren't exactly in too poor a condition.

EDIT: There's more, that was the main point.

- Currency trading is nothing new, and the destabilization of currencies by outside forces is also nothing new.

- A total collapse of the 'Merican markets would cause ripples into Foreign markets, simply because of our position as the #1 consumer.

- Considering the current political situation of the Middle East, there's far more that catches my attention than the state of 'Merican markets.

- Mr. Stansbury doesn't understand a damn about global economics as an analyst. I had more relevant retorts the FIRST time this damn video got posted, and I'm far too busy to sit through all that Bulls*it again.
Last edited by L2112Lif at Mar 21, 2011,
#13
He was sued by the SEC for investment fraud and fined a couple million, and the video is basically a pitch to buy his newsletter. Jackal hit the nail on the head.
#14
Quote by iro-bot31
He was sued by the SEC for investment fraud and fined a couple million


So? I'm not surprised. Regardless this entire video is very relevant.
"The future's uncertain, and The End is always near."
-Jim Morrison
#15
Quote by SlinkyBlue
So? I'm not surprised. Regardless this entire video is very relevant.

To Mr. Stansberry's bottom line. Not to anything else.
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#17
Quote by Jackal58
To Mr. Stansberry's bottom line. Not to anything else.


So you dismiss the entire content of his presentation based on the idea that he can profit off of people's desire to invest in more stable assets?

Quote by L2112Lif

I'm gonna go over HERE now, with my college credit in both MICRO and MACRO-ECONOMICS.


"The future's uncertain, and The End is always near."
-Jim Morrison
#18
Quote by SlinkyBlue
So you dismiss the entire content of his presentation based on the idea that he can profit off of people's desire to invest in more stable assets?

Nope. I dismiss the entire content of his presentation because he's a liar.
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#19
Quote by Jackal58
Nope. I dismiss the entire content of his presentation because he's a liar.


Source it
"The future's uncertain, and The End is always near."
-Jim Morrison
#20
Quote by SlinkyBlue
Source it

Google it.
You can feel free to believe whoever or whatever you want to.
I choose not to believe him.
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#21
Did you not also start that thread about the Japan nuclear situation being as bad as Chernobyl, and cite some conspiracy-nut as your source?

Hold on... This One

yeah... i'm not gonna get too worried.
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#22
Quote by Jackal58
Google it.
You can feel free to believe whoever or whatever you want to.
I choose not to believe him.


I guess I'll look it up I'd feel more inclined to be more critical if people had sources that falsified his numbers.
"The future's uncertain, and The End is always near."
-Jim Morrison
#23
Here Slinky:
In 2007, Stansberry and Pirate Investor LLC (renamed Stansberry & Ass. Investment Research LLC in 2005,) but not Agora, Inc., were convicted of stock fraud by the United States District Court for the District of Maryland, (Civil Action No. MJG-03-1042; filed 08/03/2007).

Publisher and company appealed the sentence as a First Amendment issue, but judgment, maximum fines, and injunctions levied by the Circuit Court were upheld by the United States Court of Appeals for the 4th District in 2009. The defendants' appeal against the Appellate Court's judgment was not accepted by the U.S. Supreme Court in June 2010.

Read more: http://wiki.answers.com/Q/Who_is_Porter_Stansberry#ixzz1HGtHIoEs


He's a convicted fraud. Fraud in financial circles = liar.

Sourced.
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#24
A depreciation of US dollar would be perfect. Just saying.
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ಠ_ಠ
#25
Quote by Jackal58
Here Slinky:


He's a convicted fraud. Fraud in financial circles = liar.

Sourced.


So, I read.

Stansberry promoted the purchasing of a particuar stock in his company from the standpoint that the more of his subscribers purchased it, the more value they would attain.

The definition of fraud was actually expanded in court in order to cover his actions. Source is from the bottom of your supplied wikianswers article;
Court opinion in this case expanded the definition of fraud to include financial benefits derived from the sale of subscriptions as the “teaser stock” increased in share price when new subscribers bought in


Apparently it's not illegal if your name is 50 Cent.

Such bullshit.
"The future's uncertain, and The End is always near."
-Jim Morrison
#26
His lawsuit has nothing to do with this video, unfortunately.
Quote by BeefWellington

what's the point in being "philiosophical"?

Interesting question...
#27
Quote by Random88
Did you not also start that thread about the Japan nuclear situation being as bad as Chernobyl, and cite some conspiracy-nut as your source?

Hold on... This One

yeah... i'm not gonna get too worried.

Yeah, because if it's not CNN, it's a conspiracy.
Quote by BeefWellington

what's the point in being "philiosophical"?

Interesting question...
#28
Quote by Vornik
Yeah, because if it's not CNN, it's a conspiracy.


I was about to bring this up. Everyone gets all uncomfortable when they see news sources they aren't familiar with.

Not to mention I was almost right. While it didn't necessarily reach Chernobyl levels, my predictions that the media wasn't reporting how serious it was was accurate... they're equating it with 3 Mile Island now, and they raised the disaster level from 3 to 5 in the days following.

Still, I'm not trying to be all "i told you so," just trying to defend my own credibility.

I don't think this court case demeans his credibility at all. As I posted, the court actually expanded the definition of fraud in his case in order to find him guilty, while 50 Cent is guity of the exact same crime and didn't face charges.

Completely irrelevant. I want to research some of his claims further though, such as Arizona selling off government buildings.
"The future's uncertain, and The End is always near."
-Jim Morrison
#29
So basically because of the unsustainable nature of finance capital, the US might well lose its grip on world monopoly of money. I can guarantee you, that only a tiny minority of people stand to lose out from that - the bankers, the fat cats, the politicians. The scare tactics from Stansberry are utterly unsurprising - playing on nationalistic fear, xenophobic panic, fears of a police state, etc, typical of someone is highly interested in maintaining the status quo. As it stands, 93% of financial wealth in the US is controlled by the richest 20% of the population - they're the people who stand to lose out, not the man in the street.

EDIT: LAWL 'Britain pursued a socialist agenda after WW2, and so went flat broke'. I lost all interest there.
Last edited by Kumanji at Mar 21, 2011,
#30
Quote by Kumanji
So basically because of the unsustainable nature of finance capital, the US might well lose its grip on world monopoly of money. I can guarantee you, that only a tiny minority of people stand to lose out from that - the bankers, the fat cats, the politicians. The scare tactics from Stansberry are utterly unsurprising - playing on nationalistic fear, xenophobic panic, fears of a police state, etc, typical of someone is highly interested in maintaining the status quo. As it stands, 93% of financial wealth in the US is controlled by the richest 20% of the population - they're the people who stand to lose out, not the man in the street.


I don't think inflation has any discretion to whom it'll effect.

Stansberry's point was that the U.S. can print the reserve currency, which spoils the country with universal low prices due to the fact that the U.S. does not need to purchase a foreign currency to buy foreign assets. The world accepts the dollar.

When the world no longer accepts the dollar as the standard, and the United States much purchase a foreign currency to buy oil, and gas in America reaches the prices that it is in Europe, it'll have pretty ridiculous effects. People can't afford to pay 7-8 USD for a gallon of gas.
"The future's uncertain, and The End is always near."
-Jim Morrison
#31
Quote by SlinkyBlue
I don't think inflation has any discretion to whom it'll effect.

Stansberry's point was that the U.S. can print the reserve currency, which spoils the country with universal low prices due to the fact that the U.S. does not need to purchase a foreign currency to buy foreign assets. The world accepts the dollar.

When the world no longer accepts the dollar as the standard, and gas in America reaches the prices that it is in Europe, it'll have pretty ridiculous effects. People can't afford to pay 7-8 USD for a gallon of gas.

And why will it reach those prices? Because private industries will be desperate to continue turning a profit, and so will clobber the consumer with higher prices.

Solution? A programme of sustainable governmental ownership of major industries, agriculture and transportation which can provide for the nation, rather than simply allowing private profiteers to make profits out of providing the necessities of life.
#32
Quote by Kumanji
So basically because of the unsustainable nature of finance capital, the US might well lose its grip on world monopoly of money. I can guarantee you, that only a tiny minority of people stand to lose out from that - the bankers, the fat cats, the politicians. The scare tactics from Stansberry are utterly unsurprising - playing on nationalistic fear, xenophobic panic, fears of a police state, etc, typical of someone is highly interested in maintaining the status quo. As it stands, 93% of financial wealth in the US is controlled by the richest 20% of the population - they're the people who stand to lose out, not the man in the street.

EDIT: LAWL 'Britain pursued a socialist agenda after WW2, and so went flat broke'. I lost all interest there.

That's not what he's saying. He's saying that the result is that the U.S dollar becomes worthless in international markets, meaning that the cost of goods in that country which produces almost nothing will skyrocket. It's not a matter of the US losing grip on its monopoly, it's a matter of impossibly high rates of inflation.
Quote by BeefWellington

what's the point in being "philiosophical"?

Interesting question...
#33
Quote by Vornik
That's not what he's saying. He's saying that the result is that the U.S dollar becomes worthless in international markets, meaning that the cost of goods in that country which produces almost nothing will skyrocket. It's not a matter of the US losing grip on its monopoly, it's a matter of impossibly high rates of inflation.

It's entirely about losing their grip on monopoly - the fact that the US is able to manipulate and control the world money supply via their ownership of the world currency results in it taking massive advantage of that in fuelling a consumer boom. It's a country using its monopoly in order to make vast personal profits for individuals.
#34
Quote by Kumanji
And why will it reach those prices? Because private industries will be desperate to continue turning a profit, and so will clobber the consumer with higher prices

No, because American dollars, which will be worth nothing, will have to be traded for another currency in order to purchase internationally traded goods, resulting in dramatic increases in price for Americans.

American isn't an oil producing country, so unfortunately they can't sit back and socialize industries.

Solution? A programme of sustainable governmental ownership of major industries, agriculture and transportation which can provide for the nation, rather than simply allowing private profiteers to make profits out of providing the necessities of life.

That would be nice, if America was a self-sustaining nation. It isn't.
Quote by BeefWellington

what's the point in being "philiosophical"?

Interesting question...
Last edited by Vornik at Mar 21, 2011,
#36
Quote by Kumanji
And why will it reach those prices? Because private industries will be desperate to continue turning a profit, and so will clobber the consumer with higher prices.

Solution? A programme of sustainable governmental ownership of major industries, agriculture and transportation which can provide for the nation, rather than simply allowing private profiteers to make profits out of providing the necessities of life.


No no, you misunderstand me. The prices in europe are at such heights due to the fact that they must exchange their currency for dollars in order to pay for oil.

Marks, Pounds, Francs, Euros --> Dollars for oil. Since the exchange rate is in favor of the dollar, less now than it used to be though, their prices for oil must be higher.

The united states has the benefit of not needing to purchase a foreign currency to purchase oil. We just print up the money.

This is why oil is cheaper in the U.S. than it is in Europe. America can print the reserve currency. As things are today, many factors are pointing towards the creation of a new reserve standard, moving away from the dollar.
"The future's uncertain, and The End is always near."
-Jim Morrison
#37
Don't invest in gold -_-

Gold is only valuable during economic hardships because people overreact, go "HOLY SHIT ALL THIS MONEY IS GONNA BE WORTHLESS" and think "Hey, gold is never worthless, I'll get some of that shit!". Then, once the economy rebounds, they go "Wait a minute, I have all this gold, and no liquid assets! I should sell this gold!" and then gold drops in price.
#38
Quote by Vornik
No, because American dollars, which will be worth nothing, will have to be traded for another currency in order to purchase internationally traded goods, resulting in dramatic increases in price for Americans.

That would be nice, if America was a self-sustaining nation. It isn't.

Why is it not a self-sustaining nation? It was back in the 18th century when it gained independence. It's only become reliant on other nations because of its monopolistic position, in being able to basically buy anything it wants - the profits are available to the powerful without having to be self-sufficient, the US government/banking system can simply control the money supply and buy everything it needs. It is the definition of a consumer society.

Any country can be self sufficient. There is simply no will, indeed there is the desire to keep things the way they are, for reasons of profit.

EDIT: Slinky, you, as Stansberry, have ignored the fact that there are intermediaries at play. The process of buying oil is not a national thing - it is at the level of private corporations. When he says 'the US buys oil' he means 'US corporations buy oil' - the impending loss of monopoly on reserve currency means that this trading will become more expensive for these companies, and hence they will have to pass higher prices on to consumers in order to maintain their profitability. That's really where these increases in commodity prices will come from.
Last edited by Kumanji at Mar 21, 2011,
#39
Quote by Kumanji
Why is it not a self-sustaining nation? It was back in the 18th century when it gained independence. It's only become reliant on other nations because of its monopolistic position, in being able to basically buy anything it wants - the profits are available to the powerful without having to be self-sufficient, the US government/banking system can simply control the money supply and buy everything it needs. It is the definition of a consumer society.

Any country can be self sufficient. There is simply no will, indeed desire to keep things the way they are, for reasons of profit.


America was self sufficient because we were isolationist! We had an immensely powerful domestic economy, free from the dangers of oursourcing and lower world prices.

Things couldn't be more different today than they were in the 18th and 19th century.

We used to be a production based economy. We are now a consumption based economy.

Do you realize that the Communications Technology industry in the United States has lost 43% of it's workforce to outsourced overseas jobs in the last 5 years?

Sorry, /economics rant...

Seriously, it's apples and oranges you're working with. Isolationist domestic economy vs free trade world economy.
"The future's uncertain, and The End is always near."
-Jim Morrison
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