End of America video - lunatic or prophet?

[valeriana]

This web site keeps getting shut down. What do you think of the video? The subject matter of the video is hyper-inflation.

www.stansberryresearch.com/pro/1011PSIENDVD/OPSIM317/PR

or

www.endofamerica93.com

AND for those who do not want to watch the video, here is a good synopsis:

He says the USD will soon not be the world reserve currency.

He then strikes a parallel with the British Sterling losing that status in the 1970s. Learn about Britian's 'Winter of Discontent' which was a direct result of this. The government had to devalue their currency by 14% overnight. There were huge electricity shortages which resulted in business being allowed to be open only 3 days/week. Television stations turned off at 1030 pm. Inflation went up to 27%. Everything was much more expensive.

Now, all the other countries want to buy oil in something other than the USD now.

46 states have huge deficits for 2011, but no more fed money to help.

China is buying less debt than they were. The US was always able to survive debt by simply printing more money, but soon no one will buy our debt. Then we will have DOOM.

[upstatemom]

Yet the Senate only wants to cut 10 biliion in spending... They are so clueless

[morrisr2d2]

The arguments he lays out are very possible and real. However, DOOM is too dramatic - America will survive, americans will adapt once forced to, but yes it will be painful. What he says will probably happen, question is just when and how fast. He says in the next 12 months, could be 100 years from now But no, he's not a lunatic.

[Phoenix84]

I watched that video a few weeks ago.

I don't know, in the end I kind of got the impression it was all a sales gimmick to sell gold. However the arguments he lays out at the beginning make sense.

I'm with morrisr2d2, I don't buy into the whole "the sky is falling" mentality. I think America will change and adapt if/when events like that occurs. I highly doubt we're going to end up like in the movies "mad max" and "road warrior." One thing that has always surprised me about America is how civil we are in times of crisis. If I learned anything from 9/11 it's that in a national crisis Americans tend to come together instead of rioting in the streets and firing guns in the air.

In the end, I refuse to live my life in fear of what MIGHT happen. Worrying about things you have no control over is a waste of time/energy.

[stats45]

Lunatic, and ditto on it being a platform for gold selling. If you can convince people it is the end of the world, you can sell them gold, seeds, guns, whatever all under a 'survivalist' marketing plan. Scare the consumer, and then sell them products to deal with the fear.

That doesn't mean that the US economy doesn't have some serious problems still or that the recession was a cakewalk. It has radically changed the lives of millions of people, but a little perspective. Japan has public debt around 200% of its GDP, a sluggish economy for the last decade (minus a few strong periods), and a very old population. They haven't become a Mad Max camp with gold bartering and gangs of heavily armed death squads.

People adjust, living standards did drop a bit in the US, and life will go on. The economy will probably not grow as quickly in the near future, fewer people will be homeowners, and consumers will feel more pressure in the next 3-5 years. A decline that can be corrected not a collapse.

[shelby]

I read somewhere the IMF is considering removing the US dollar as the reserve currency, so very possible. Other than that I have not watched the video.

[shelby]

heres a link

money.cnn.com/2011/02/10/markets/dollar/index.htm

[shelby]

One thing no you cannot have exponential growth with limited resources, so a plateau or crash is immanent. I also totally believe we will adjust and move on. The adjustment will be very painful and we may be in the beginning stage but not Armageddon.

[formerexpat]

briandeer.com/vaxgen/stansberry-fraud.htm

Judgment in favor of the Securities Exchange Commission and against Maryland-based Pirate Investor LLC, now called Stansberry & Associates Investment Research, LLC, and Frank Porter Stansberry was issued at the U. S. District Court for the District of Maryland on August 1, 2007 – 28 months after the completion of a bench trial. The penalty comprises disgorgement of $1.3 million in profits and interest from the fraudulent activity, for which Pirate Investor and Stansberry are jointly and severally liable, plus a fine of $120,000 against each defendant.
...
The SEC had accused the defendants of fraud concerning a “Special Report” authored by Stansberry, using the pseudonym ‘Jay McDaniel’, about publicly-listed uranium enrichment services provider USEC, Inc. and a promotional “Super Insider Tip Email” offering the Special Report for sale that was distributed on May 14, 2002, after which Pirate Investor sold 1,217 reports for $1,000 each.

Never good when the source of your information was involved in a boiler room type scam.

The US will gradually have to continue to adjust their lifestyle to account for the changing realities of the world but it's not going to happen over night. The world can't simply get off the dollar over night; it will wreak havoc on their own systems. As they do it in an orderly fashion, our lifestyles will adjust accordingly.

Who knows, without the ability to artificially hold down the value of oil like our politicians have been able to do for 30+ years, ingenuity may enter and find the answer to our dependence on oil? We might even have some politicians sensible enough to power more of the US off of nuclear power. If the French can achieve >80% of their power from nuclear, we must have some answers here.