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Posts Tagged ‘Porter Stansberry’

One of many valid racks in the pocket billiard...

Here are the articles that you, the readers, made the top 10 in 2011.

  1. 11/01 Former Fed Chairman Paul Volcker laughs at the great increase in wealth disparity over the past 10 to 15 years, and at Americans for not speaking out more forcibly against it
  2. 04/03 Who is behind enenews.com?
  3. 09/11 Rudi Dekkers drops some bombshell 9/11 revelations on the tenth anniversary of the attacks
  4. 05/02 Lindsey Williams’ May 2011 oil price prediction tanked
  5. 11/13 The Daily Bell, whose founder “continues to advise and consult to large international banks,” claims Zionism isn’t support for a Jewish homeland specifically in the biblical lands
  6. 01/03 Gary North’s “free market gold standard” is also a fool’s gold standard
  7. 10/18 Canadian government to its citizens: You’re incapable of defending our borders
  8. 08/27 George Whitehurst-Berry of “Crash! Are You Ready?” interviews on the AIDS scam
  9. 01/29 No evidence that your birth certificate is traded on any exchange
  10. 12/26 Porter Stansberry misdirects Americans to the bankster gold standard

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Gold Key, weighing one kilogram is used to acc...

Appearing on the Christmas Day 2011 broadcast of The Alex Jones Show, Porter Stansberry of Stansberry Research said in response to MF Global leveraging themselves 38 to 1 and going bankrupt (starting at 52:03):

This is how the system worked for 40 years. Ever since we left gold in ’71, this was the path to wealth. You borrow unlimited amounts of money and if you get in trouble, you will get bailed out, and you just borrow more money — that’s the secret. That is how Corzine made Goldman Sachs the biggest bank in the world — by leveraging everything, and getting bailed out anytime there was trouble.

The main factor in that case was likely outright theft, and regarding U.S. government policy, Congress’ repeal of Glass-Steagall under the Clinton administration in 1999 and the repeal of the ban on most derivatives under the Reagan administration were the real factors involved.

Stansberry is referring to Nixon ending the international gold exchange standard, which allowed foreign central banks to convert their USDs to gold at $35 an ounce, and there wasn’t anywhere close to 100% backing of the dollars held by other countries, so they were already lending out more dollars than was backed by gold.

Furthermore, Goldman Sachs is not the largest U.S. bank. Market capitalization, for Goldman Sachs, according to Yahoo Finance, was $46.17 billion as of December 23, while J.P. Morgan Chase was valued at $127.49 billion. The net income available to common shareholders of J.P. Morgan was $18.55 billion, while it was only $3.76 billion for Goldman Sachs.

For more on Porter Stansberry, see my article, Porter Stansberry’s prediction that the U.S. dollar will cease to be the world’s reserve currency in 2011 likely not to come true.

For more on the bankster gold standard, see my article, The gold double standard.

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United States dollar

On December 14, 2010, Porter Stansberry of Stansberry Research Associates released a video called “The End of America.”

In it, he made the claim (at 6:18):

Let me back up and show you in the simplest terms possible what is going on, why I am so concerned… and what I believe will happen in the next 12 months.

He then went on to talk about the end of the U.S. dollar as the world’s reserve currency (13:40).

“The U.S. dollar has been the world’s reserve currency for decades now. So most Americans don’t have a clue about what the repercussions are of losing this status.

Commenting on the likelihood of Stansberry’s prediction much earlier than October 2011 wouldn’t have been that useful, as we learned in 2008, when the U.S. stock market was relatively high prior to September, before things began to massively collapse.

And, obviously a prediction much later than now wouldn’t be of much value either. Therefore, on October 23, 2011, I predict that Stansberry’s prediction is likely not to come true.

Eventually, the U.S. dollar will lose its status as the world reserve currency, since nothing lasts forever, and especially not a currency whose status is imposed through artificial forces, and not market forces.

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