jasd Posted September 30, 2011 Share Posted September 30, 2011 OH MY! How's your pantry? Okay. This guy has his naysayers - just like every other astute person has - even jasd That's the caveat. Now pay attention. This interview was broadcast 12.31.10 - so it's now been about 10 months since Stansberry sat down at this meal attended by global food peoples... [/chicken jasd, "Sky is falling!"} Porter: Well, it was certainly a very unusual invitation I received. Luckily, a lot of very senior people across corporate America subscribe to my newsletter. Again, they do so because they know that I’m really looking into the numbers of things and that when I make a prediction it’s based on the facts and the accounts, not just some sort of a crystal ball. I’m not saying “10 years from now something might happen,” I’m saying “look at these numbers. This company is heading for bankruptcy,” or “look at these numbers. This company’s heading for growth.” I got invited in November from one of my best contacts – a guy I’ve known for over 10 years. He’s one of the wealthiest people in the world, in fact. He invited me to the biggest penthouse on Park Avenue that I’ve ever been in. It was enormous. He had a seated dinner for 30 people. Most of the people there were very senior members of the largest global food companies. I agreed not to name names, because it was an off-the-record meeting, but there were several CEOs in the room. There were several leading political figures including a senator. The concern that the global food companies have is that there will be a famine that breaks out in the next 12 to 18 months because of the risk of a currency and trade war. We saw this happen in 2008 when prices for commodities went sky-high. Various exporting countries put limits on exports, so they stopped exporting things like rice. That caused the financially weaker countries, particularly in the western hemisphere, to suffer famine conditions. The food companies were saying “we can see the handwriting on the wall. We know the dollar is going to hell in a hand basket. We know that a currency war has already broken out. And we know that will lead to a trade war. And when the trade war breaks out, we don’t want you blaming us for food shortages, because we’re warning you right now it’s going to happen. We’re warning you right now that we’re stockpiling everything we can. And we know that it will not be enough.” So they were trying to give the heads up to people like me who could get the word out, and the people like the politicians who could do something about, hopefully, the policies, so that this problem could be minimized. But there’s no doubt in these food companies’ minds that we’re heading towards a very, very serious global food shortage that will be brought on by the currency wars and the trade wars that are now under way. [...] Porter: Yeah. And let me be clear about where my position is on all this, because it’s real important to me not to ever offer a forecast for something that I can’t really prove. I’m not making any forecasts based on weather. I’m not making any forecasts based on crop yields or anything like that. What I’m saying is, if you look back at the Great Depression, when our economy went south, the global economy goes south. Certain things always happen, one of which is all the countries in the world are going to try to devalue their currencies to gain advantage in trade. We’re already doing that right now. When that happens, countries around the world respond by putting up trade barriers. We’re already seeing that as well. So as this problem grows, the big problem with the trade war is, it stops the food supply. The whole world has become so integrate that we can’t feed people around the world without free trade. So the big risk to the currency war is interruptions in food supplies and that is what the global food companies are talking about. So I think that you can look at things from the agricultural perspective, which is we’ve got some serious problems in arable land and these kinds of things for the long term, but I’m talking about a short-term, immediate crisis that’s going to be caused by politics, not by farming. [...] Porter: Well, there’s no doubt in my mind that you’re going to see upper pressure on food prices for a long time. And when I say for a long time, I mean for at least the next 24 to 36 months. There’s going to be a huge upward pressure on food prices because of the collapse in the dollar. You’re going to see that happen. Over the longer term, I don’t believe that food prices at these levels are sustainable. -- Stansberry’s Investment Advisory Okay... “upper pressure on food prices for a long time. And when I say for a long time, I mean for at least the next 24 to 36 months. There’s going to be a huge upward pressure on food prices because of the collapse in the dollar. You’re going to see that happen. Over the longer term, I don’t believe that [coor=red]food prices at these levels are sustainable.” Okay... what kind of prices is he talking about that he doesn't believe “at these levels are sustainable”? “...the video that I have out on the internet right now,...” Y’alls might wanna take a peek at it. Oy-Oy-Oy-Oy... Well, are y'alls open to another perspective? Quote Link to comment Share on other sites More sharing options...
jasd Posted October 1, 2011 Author Share Posted October 1, 2011 Porter: Well, this is something I’ve been saying to some people for a couple of months now, and I got some really crazy looks at the beginning, but I don’t get those crazy looks anymore. My question to you in reply is, where have you been? How high will the price of gold have to go before you will say there is bank run underway? How high will the price of silver have to go before you say there’s a bank run under way? How high will the price of corn have to go? The price of oil? The price of real estate in Iowa? Look, it’s underway right now, guys. And if you haven’t noticed that yet, you’re not paying attention. People are fleeing the dollar. Central banks around the world were net buyers of gold last year for the first time since 1971. Why would they do that? People keep saying “there’s a crisis that’s coming.” No, no. The crisis is right now, and if you don’t know that yet, believe me, you’re in big trouble, because it’s going to be harder and harder and harder, every day for you to get out of the dollar. It is already here. You have got to wake up. [emphases.jasd] Oh-oh, kinda sounds like a Jeremiad to me... Quien sabe, si? Quote Link to comment Share on other sites More sharing options...
jasd Posted October 29, 2011 Author Share Posted October 29, 2011 “As we’ve mentioned before – the Great Depression of the 1930's originated not because of the 1929 stock market crash, as high school history teachers would have us believe. Rather, it began when European banks and nations began defaulting on their debt. Porter Stansberry points out that Europe is the largest economic zone in the world (500 million v 308 million USA) – exceeding even the United States – and they are going under. The subsequent consequences on the streets of Europe and America are going to surprise a lot of people. Mr. Stansberry has made it a point to warn of civil unrest before. It’s coming – make no mistake. Realistically speaking, what do you think is going to happen when peoples’ pension funds, retirement accounts, savings, purchasing power and jobs are wiped out? The next leg down is going to be fast, volatile and violent – and the United States will be right in the middle of it." [parenthesis.jasd] The takeaway is: Quote: ”The next leg down is going to be fast, volatile and violent – and the United States will be right in the middle of it.” Say what!? –Pogo Oh my! -- Pogonini Quote Link to comment Share on other sites More sharing options...
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