Is this anything to worry about?
http://www.stansberryresearch.com/pro/1011PSIENDVD/PPSILCBV/PR
Damn scary if there’s any truth to it.
Horrible, horrible presentation. He might have had perfectly good intentions, but I closed out after several minutes just because he wouldn’t cut to the chase. Getting the “warning” screen when I tried to close the browser was a bad idea on their part, too. You only get that from spam and nasty adware.
IMHO, even just a basic empirical look at the pecuniary dealings of our government should be enough to scare the pants off of any intelligent human being. So what if a government technically can’t go belly-up. Someone has to pay the bills.
It is really a lot of half truths with scare tactics. The author is correct about oil and dollars being the reserve currency and that we owe a lot of money to other people. But he denies the fact that other countries are printing their own currency too.
In fact, most of our debt that is sold and bought with foreign currency printed out of thin air. It is really about the value of the currency verses other currencies. It is all a play on words and really about liberty. But, he is just trying to sell his services.
It is true that food and oil price would sore as our currency would be devalued by historic proportions. But devalued compared to whom? Remember as we devalue our currency, so do most of the other countries since they want to export their goods and services. Afterall, there economies are artificial.
And if the world would dump the dollar, what currency would they use? Chinese? Russians? No, as they are also printing money and do screw with people. Mabey dollar will be replaced by gold or silver, which would really be a good thing in the long run.
However, if prices sore, there will simply be less demand for the goods or services. You can raise the prices, but if people can not pay for it, what good would it do? And yes, it would cause a change in lifestyle, but it also would force America to become self sufficient and provide for it’s own means, which would fix the problem. It is not all doom and gloom.
It is the other countries that one has to worry about. Most of there leaders couldn’t care less about feeding their population and most would get rid of a large percentage of them is it keeps there leaders in power. This is the real danger.
What you are actually seeing is the implosion of fiat currency on a world wide basis. Eventually, a new currency standard will emerge backed by real assets and these fiats currencies will stopped being used. I’m hoping it will be individually owned currency. But before that happens, there is a lot of resistance because this will represent a huge change in just about everything, but for the better.