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Commentary – ‘End of America’ by Potter Stansberry
The stock market in America has been in crisis and has been projected to be worse in the near future. The documentary ‘End of America’ has been produced by Potter Stansberry, and to which paints the financial future of the United States. The film also forecasts the end of the US global economic dominance, that will result in rioting as well as protests across the nation. The documentary warns that the American currency the dollar will cease being accepted as the global currency, and according to Stansberry, the process has already begun. Stansberry criticizes the United States government debt, attributing the debt to be as a result of reducing the value of the dollar.
Stansberry claims that in the next decade, the biggest threat to the wealth of the American citizens will not be the risk of losing their savings to a market crash, but it is the risk of losing their wealth to the government through confiscation or devaluation. Through guaranteeing the enormous debts and obligations, the government is setting up an unprecedented collapse of the political as well as the banking system.
The argument coined by Stansberry is sound and makes sense in that he points out that the problems that have devastated the financial system of the United States have not disappeared but however, they have only moved onto the United States balance sheet, to which according to statistics had not been in good shape. The country is able to pay its bills through printing more money into the economy, but the crisis would arise if the US currency is not accepted by the rest of the nations for payments something which has begun to happen. Stansberry talks of the global reserve currency and China one of the largest US debt holders have begun to diversify away from the treasury bonds.
Stansberry advises that there is a need to protect oneself as well as their families and one of the ways through which a person could be able to do that is through the purchase of a working farm. The investments somehow make sense as it is a long term investment plan as well as a long term goal to farm when a person goes on retire. He as well recommends that people invest in the purchase of silver and gold. Although Stansberry advises people to invest on physical assets, they are much harder to sell implying that if they offer a form of protection, it would be impossible to make instant money if there is no willing buyer.
Another disadvantage of the investment is that when a buyer is needed for the sale of physical assets, a hefty commission is paid to the brokers, and therefore it becomes less worthy of investing. Stansberry also advised that it would be better to move assets abroad especially to countries with a stable currency as well as pursuing bearish investment strategies. Apart from assets, he as well advised people to stock food, water, and other essential supplies in the rural areas. The arguments put forth by Stanberry are relevant and makes sense as people need to put their investments away from the banks that are on the verge of collapsing, investing in the physical assets such as land in the rural areas.
Work Cited
Potter Stansberry. The End of America. Retrieved from: https://youtu.be/RN5BLQLA4FA?t=1150
