The Looming Disaster Explained

Stansberry & Associates Investment Research, an investment firm,  is getting some notice and causing some controversy on the World Wide Web with a video warning of an impending collapse of the dollar which it claims will usher in 1,000 percent inflation and months of domestic turmoil.

If you get to  the very end of it you'll find it to be a sales pitch. Still, Porter Stansberry makes some points worth considering:

--If all Americans paid 100 percent of their income in taxes it would still not pay off the national debt.

--That our government owes more money to more people than anyone else in the world -- and that was before the financial crisis.

--That we are repaying this debt by printing trillions of dollars and that our creditors will either stop accepting dollars in repayment or greatly discount their value.

--That Mexican banks are no longer accepting dollars for deposits and that there are 150 legal alternatives to U.S. currency being circulated in the United States, such as BerkShares.

One free bit of advice he gives that is probably worth taking as best as one can is that one should have at least a six-month supply of food, water and medicine on hand.

Here's the latest link.

Here's a more user friendly one on youtube.


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