Posted 5 years ago on June 27, 2014, 11:07 p.m. EST by StillModestCapitalist
This content is user submitted and not an official statement
Several years ago, world renowned financial guru Porter Stansberry made a prediction that the US dollar would collapse by the end of 2011 primarily because of high government spending. He guaranteed that the US dollar would lose it's place as the world's reserve currency by the end of 2011 or shortly after because of it's imminent collapse.
This prediction made by Porter Stansberry was pure absurdity because of one factor in particular which trumps all other factors related to the US dollar. A factor so incredibly profound that a highschool dropout went on the air (WNIR Akron Ohio) in early 2011 with an absolute guarantee that Porter Stansberry would be proven dead wrong on the issue. In fact, the caller even gave Porter Stansberry an extra full year as a courtesy.
By the end of 2012, Stansberry's prediction was still nothing but an absurd fantasy. Aside from the usual right wing rhetoric spewed daily by virtually all high ranking Republicans and the likes of Rush Limbaugh, Glenn Beck, Sean Hannity, Mark Levin, Andy Dean, Eric Harley, Gary MacNamera, Laura Ingraham, Ann Coulter, all those at Fox news, countless lesser known talk radio hosts all over the country, and their idiot fans, there was no reason to believe that the US dollar would lose anywhere near enough value in the foreseeable future to be in any danger whatsoever of losing it's place as the world's reserve currency. For all of the above, EVERY LAST ONE OF THEM, failed to grasp that one primary factor related to the US dollar. A factor which to this day, remains unchallenged in spite of very high government spending. In spite of our National debt.
Still, in spite of this factor which trumps all others related to the US dollar, Porter Stansberry has gone on record once again, with a guarantee that it is about to lose most of it's value, collapse, and lose it's place as the world's reserve currency. This time, because of a law, or a series of laws, which are scheduled to go into effect on July 1st. Laws which will make it more difficult and less profitable for banks overseas to hide US funds for their filthy rich pig tax evading clients.
Of course, an international investor and trader like Porter Stansberry, a filthy disgusting rich one at that, would object to these new laws scheduled to take effect on the 1st of July. That's a given. But to go on record with a prediction that the US dollar will lose most of it's value, collapse, and lose it's place as the world's reserve currency within a matter of months, because of these new laws, well, once again, because of one factor in particular which trumps all others related to the US dollar, it is utter nonsense. Absolutely nothing but an absurd fantasy.
The factor which trumps all others related to the US dollar is the overall size of the US economy. It is by far and by every relevant measure the largest economy in the world. It has been the largest world economy for many years and it will remain the largest world economy for many years to come. It will remain the largest world economy regardless of which political party is in power. It will remain the largest world economy even after it slips into another severe depression caused by a record high concentration of wealth. That will certainly happen by 2020. Sooner and more severe if we elect a conservative President. Other world economies will lead or follow. But nothing short of a catastrophic natural disaster or an alien invasion will threaten the place of the US dollar as the world's reserve currency.
I'm no financial expert and I never will be. But I do understand enough to guarantee with absolute certainty that Porter Stansberry is about to be proven dead wrong once again.