Stansberry Investment Research. It was about the economic collapse that is already underway in the United States. A lot of the video made sense.
Right now, the U.S. dollar is the world's reserve currency, which means other nations have to use dollars to buy food and oil and settle international debts. However, the U.S. Treasury is now printing trillions of dollars, which has the effect of lowering the purchasing power of dollars already in circulation. According to Stansberry, this causes other nations to experience rising prices for fuel and food and is a major factor in the revolutions we are now seeing throughout the Middle East. Basically, by printing more dollars, we steal the purchasing power, not only of Americans, but of other countries as well. This causes prices to rise, and those prices are rising sharply.
The insane level of borrowing by the Dems is already so out of control that the US is unable to pay even the principal on the debt, and soon will be unable to even pay the interest. So they will print more dollars and repay the debt with dollars that are worth less. This is dishonest -- it is just a way for the U.S. to cheat the international financial system.
This is also the major reason China is slowly divesting itself of U.S. Treasuries and buying hard assets throughout the world to protect its wealth. Hyperinflation in the U.S. will occur and lead to the replacement of the dollar as the world's reserve currency (and this is already in progress), which in turn will reduce the U.S. standard of living about 25%, almost overnight. Expect food riots.
If you think Stansberry is crazy, just look at the Drudge Report news items for this morning. Already major nations are holding meetings to replace the dollar with other currencies.
When the government gets desperate enough for cash to meet its mounting debt, it will then begin appropriating private pension funds (there goes your 401k) and put everyone on a "government pension." That means your current pension funds will be replaced by a government IOU, to be repaid in dollars that are worth substantially less as time goes on. This is already happening in Europe and there is already talk among American statists about doing it here.
Watch the Stansberry video here
When our shaky economy crumbles further, don't count on the American people to kick the socialists out of office. The left and their propaganda outlets in the mainstream media will blame "the evil rich," capitalism, Republicans and Wall Street. The Democrats will blame the private sector for what is actually governmental malfeasance, and many Americans will continue voting for the authors of their own destruction.
Best of the Web*
15 minutes ago