Well Porter Stansberry is up to his scare/gloom/doom messaging again. However, this time he is using Senator Ron Paul to deliver his message. You can watch Dr. Paul’s dire predictions at www.ronpaulmessage5.com. He is predicting the next big currency crisis. The video is brought to you by Stansberry Research.
I get so many questions from readers who are genially and legitimately scared by this type of messaging. As a result, I feel it is my obligation to write the other side of the story. It is not my intent to smear anyone’s name. It is my intent to give you some other facts and shine does of reality on this messaging. How about a little about Porter Stansberry.
About once or twice a year, Porter Stansberry produces a hour plus video describing the end of the world and typically predicting a date when it is supposed to happen. Here is a Youtube video page full of examples. If you sort through the videos, you will find years of failed predictions. I think the latest was the collapse that was supposed to happen last July 2014. Then there was the infamous End of America Video that was claiming everything will collapse either at the end of 2013 or 2012.
Who is Porter Stansberry? He is an investment newsletter publisher. He is also the guy described below.
US judge fines Agora subsidiary and editor Porter Stansberry $1.5 million for securities fraud
An investment newsletter’s publisher and its editor have been hit with $1.5 million in financial penalties after a U. S. federal judge determined they defrauded their own subscribers in a securities scam.
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. – www.briandeer.com
Here is the SEC Litigation release on the case
Now at the heart of every gloom/doom video is a solution to all of your problems. All you have to do is subscribe to Stanberry’s newsletter and all of your problems will be solved.
I think that it is unfortunate that Ron Paul has aligned himself with Stansberry. Dr. Paul carries a lot of credibility with his position in Congress. He is creating a lot of unnecessary fear.
The reality is simple this. Yes, we have 18 trillion plus dollars’ worth of debt in this country. Yes, we will go through some tough times at some point because the debt will overwhelm the system. Can we predict what that looks like? Can we predict when that will occur? No, Dr. Paul we can’t. Further, anyone can get on a video and make outrageous forecasts citing that we are facing a crisis worse than the Great Depression.
It comes down to this. You have to decide are these videos marketing or credible information? Are these videos designed to truly inform you or to market a newsletter subscription? Do you simply automatically trust a guy who a federal Judge determined defrauded their own subscribers in a securities scam?
Mr. Stansberry is an incredible marketing genius. Beyond that, I would think real hard if you want to put stock and trust in any of his or his messengers’ predictions and scare tactics.
To be fair, below is Mr. Stansberry defense to charges of fraud and running a scam. http://www.stansberrysecfraud.com/