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WorldNetDaily's financial adviser is ready to flee the country

March 08, 2010 1:38 pm ET by Terry Krepel

The headline on Porter Stansberry's March 5 WorldNetDaily "Investor Insights" column reads: "Stocking up on meds and ammo, NOW!" The actual article manages to be even crazier than that.

Stansberry kicks off with a bit of fear-mongering:

Show me the example in history where a nation survives without a violent revolution after adopting paper money as its only standard, ringing up enormous foreign debts while fighting multiple wars, and relying on a tiny fraction of its population as its revenue base. Or ... simply show me any democracy in history that survived after more than 50 percent of its population stopped paying taxes.

Actually, from payroll taxes to state sales taxes, pretty much everyone pays taxes. But Stansberry isn't done fear-mongering yet:

Over the next 10 years (if not much sooner), the reality of our fiscal situation will become impossible to hide. And whom will the masses blame for the resulting chaos? What would happen, for example, if inflation went to 20 percent annually and interest rates soared to 30 percent to 40 percent annually? What would happen in that situation if someone blew up a bomb in the capital?

I don't know if any of these things will happen, of course.

Then why bring them up in the first place?

Stansberry then gets around to the point raised in the headline, an idea he has apparently endorsed in his newsletter (which is sold through WND). He adds, "If I'm wrong and there is no crisis, doing these things won't hurt you. There's no downside to owning foreign real estate, saving gold, or having an emergency stockpile of food, ammunition, and medicine."

Here's where it gets even crazier:

As for me, I'm not buying ammunition. I'm built for pleasure, not for fighting. So I've simply designed an "escape pod." I have a nice boat on the dock right behind my house in Miami. I can safely leave the country -- at any time -- with most of my wealth, within 24 hours. I'm building a house on the water in a safe foreign country that doesn't have any ties to America (Nicaragua). I've moved a significant amount of my savings out of the country -- legally. I'm pursuing a diplomatic passport to ensure any attempt to restrict travel out of the country won't stop me.

Lots of folks might be critical of these steps. Believe me, I could not care less about what they think. It's not my job to save the U.S. from its own folly. It's my job to make sure that my family is safe. Only an ignorant fool would look at what's happening with our finances, our military, and our government and not realize we're moving in a dangerous direction that's not likely to have a happy ending.

So we have a financial adviser who has already moved "a significant amount" of money out of the United States and is prepared to flee the country at a moment's notice to a locale "that doesn't have any ties to America." This is the person WorldNetDaily promotes as someone whose "insight" is worth publishing.

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    • Author by mustardman (March 08, 2010 1:48 pm ET)
      11 1
      Let's all start a astroturf movement to convince all the teabaggers to take all their money out of the country, rent a cruise ship, and move everyone to their own teabaggerstan type country like Somailia.
      Report Abuse
    • Author by cst (March 08, 2010 2:01 pm ET)
      8  
      I did NOT need to know that Porter Stansberry is "built for pleasure"...
      Report Abuse
    • Author by mikelartist (March 08, 2010 2:28 pm ET)
      6 1
      That tinfoil hat makes him look like an idiot. When he takes it off.... he's STILL an idiot.
      Report Abuse
    • Author by For.America.2600 (March 08, 2010 2:29 pm ET)
      6 1
      Best example of patriotism, grabbing all his stuff and ditching the place. Way to go Mr. Stansberry.
      Report Abuse
      • Author by Andy Kreiss (March 08, 2010 3:08 pm ET)
        4 1
        These phony patriots love America, as long as everything is exactly the way they want it. When they lose an election or two, they're perfectly ready to abandon the country.

        There's a poster on another thread claiming that if a health care bill passes, he (and millions of others) can drop their insurance, and sign up for the public plan at the point they need to go to the emergency room. He openly admits this fantasy is aimed at making Obama and health care reform ( and, obviously, the United States) fail.

        I heartily encourage the emigration of these lazy fair-weather patriots, and will be happy to pitch in on whatever foreign real estate is needed to get them out of here.
        Report Abuse
    • Author by cugagcmu805031 (March 08, 2010 3:11 pm ET)
      6 1
      Mr. Stansberry,
      Would you please take the rest of the rw nuts with you? Pretty please, with a cherry on top?
      Report Abuse
    • Author by epkklk851 (March 08, 2010 3:11 pm ET)
      6 1
      He's going to Nicaragua? Bwa ha ha ha ha! He's trading in the United States for a country with Public Debt level of twice the U.S., with high disease rates, incredible poverty and marginal political stability. His little escape pod could get him killed. Why not just kill the American and take his stuff? If something really happened to the U.S and the Government wasn't there to protect his sorry, wingnut behind, that IS probably what would happen to him and the other ex-pats trying to live like kings amidst poverty.
      Report Abuse
      • Author by rtejon (March 08, 2010 4:02 pm ET)
        3 1
        And if his Nicaraguan land is on the coast, it may well get flooded by rising oceans levels (something that's already happening to subsistence farmers down there).
        Report Abuse
        • Author by epkklk851 (March 08, 2010 4:10 pm ET)
          1 1
          I'll bet he believes there is no such thing as Climate Change. The economic displacement, if it gets really bad, will shock most people. What do we do with all the people who used to live there and now its under water?
          Report Abuse
          • Author by rtejon (March 09, 2010 7:12 pm ET)
               
            When I was in Costa Rica 3 years ago, they already had a problem with too many unemployed Nicaraguans overstaying their welcome.
            Report Abuse
    • Author by rtejon (March 08, 2010 4:04 pm ET)
      1 1
      I didn't know the average American could get a diplomatic passport. I certainly didn't know it was possible for a likely swindler like Stansberry to get one.
      Report Abuse
      • Author by epkklk851 (March 08, 2010 4:11 pm ET)
        1 1
        Heck, I had to have orders to just get an Official Passport, and it didn't offer diplomatic immunity.
        Report Abuse
    • Author by pete592 (March 08, 2010 4:08 pm ET)
      2 1
      "It's not my job to save the U.S. from its own folly."
      That says a mouthful about this guy, doesn't it? How come it's not everyone's job?
      Report Abuse
    • Author by mikelartist (March 08, 2010 4:34 pm ET)
      2 1
      It will be a knee slapping laugh riot when we tune into the news and see his bloated carcass floating amidst his capsized boat and all his stuff that he's been hoarding and embezzling for years.

      Typical wingnut - cherishes his things more than his country.
      Report Abuse
      • Author by Andy Kreiss (March 08, 2010 4:51 pm ET)
        2 1
        " I have a nice boat on the dock right behind my house in Miami. I can safely leave the country -- at any time -- with most of my wealth..."


        Ahh, the Thurston Howell plan. I picture him drifting around the Atlantic, sitting on a steamer trunk full of cash in his boater hat and monogrammed blazer, babbling to himself and his preccciousssss.
        Report Abuse
      • Author by magnolialover (March 08, 2010 5:08 pm ET)
        1 1
        [http://4.bp.blogspot.com/_O9kRJD2JZLg/SOvTI357oUI/AAAAAAAAAHA/1n9WZIENj_U/s320/joe_vs_volcano_wallpaper_big.jpg]
        Report Abuse
    • Author by ghostofgreed (March 08, 2010 4:52 pm ET)
      1 4
      It would be nice to believe that this country is not on the brink of disaster or chaos. I've tried to laugh at these right wing panic-mongers, myself. The problem is, it's looking more and more like they are right. And the problem is, most of us liberals don't want to belief it. I recommend reading Chris Hedges "Calling All Rebels" published today at TruthDig. I don't know what the answer is, myself, but the problem is, most people are going around acting like nothing has changed in this country when many of our rights are being removed slowly. The people in government don't appear to care too much about it, and it's easy to believe that they're only out to save themselves at this point.
      Report Abuse
      • Author by eweston8542983 (March 08, 2010 9:03 pm ET)
        2  
        A really classy concern troll post there.

        I'd add Hati to a possible, state free zone list. What with all the death they've had, they oilgarch's are probably hiring the next generation of citizen oppressors. Get in on the ground floor here maybe.
        Report Abuse
        • Author by Andy Kreiss (March 08, 2010 10:10 pm ET)
          1  
          I <3 the concern trolls. So reasonable and helpful. And each of them so very distinct from all of the others.
          Report Abuse
          • Author by rtejon (March 09, 2010 7:16 pm ET)
               
            And never a long wait from asking questions to declaring absolutes. No time wasted on that nuance thing.
            Report Abuse
      • Author by DellDolly (March 08, 2010 10:53 pm ET)
          1
        Yeah, it's always funny when they claim to be liberals in order to gain credibility.

        Have you EVER seen ANYONE who claimed that they were a liberal in the same way this guy did who actually turned out to be a credible liberal? Ever?
        Report Abuse
    • Author by magnolialover (March 08, 2010 4:59 pm ET)
      4 1
      Aren't these the same group of guys who stocked up before Y2K?
      Report Abuse
    • Author by MsYellowDog (March 08, 2010 6:12 pm ET)
      2 1
      May I suggest Glennbeckistan for your future residence?
      Report Abuse
    • Author by grmce (March 09, 2010 8:57 am ET)
        1
      Just a few points of interest:

      Here in Australia we floated our dollar decades ago. We have a regulated financial sector and universal health cover.

      Compare our economy with the U.S.

      Methinks Mr Stansberry has a few 'roos loose in the top paddock.
      Report Abuse
    • Author by poesociety (March 10, 2010 7:05 pm ET)
      3  
      I just stumbled on this blog while researching Porter Stansberry's background and am surprised at the number of comments attacking Mr. Stansberry's character and surprisingly little addressing the concerns he raises. Seems to me some of the haughty posters here need to put someone else down in order to make themselves and their miserable lives seem superior. This is not unusual behavior, especially for those who feel threatened by uncertainty and feel a need to band together with like-minded souls. It is also not the type of thinking that could be considered open-minded or pro-active and often leads to regrets. The good thing is, it appears there will be lots of you to commiserate in the aftermath that Mr. Stansberry is predicting.
      Report Abuse

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