In the ongoing search for gold and silver bugs, one often comes across very interesting individuals. Porter Stansberry has certainly been prominent when it comes to finance and precious metals. Even today, he is a financial publisher for Stansberry Research.
The Career of Porter Stansberry
Similar to all other gold and silver bugs documented on our blog, Porter Stansberry has a very rich history. He too got involved in the financial industry at one point, and seemingly never looked back. That doesn’t mean he followed the”main” wave of simply trusting the government and central banks, though.
Throughout his career, Stansberry founded his own private publishing company called Stansberry Research. It is still a very active platform today, and widely considered to be a treasure trove for those who have a real interest in the financial sector.
Speaking of which, the self-published online opinion magazine American Consequences is certainly worth checking out. It provides a very different outlook on what is happening in American finance. Stansberry is a contributing editor, and the publication is completely free of charge.
Porter Stansberry Makes Bold Predictions
it is not uncommon for individuals in the financial sector to make predictions every now and then. Most of those predictions turn out to be completely wrong, but there are always some exceptions worth taking note of.
In the case of Porter Stansberry, the “bold prediction” came in the form of accurately assessing that stocks should be shorted in mid-2008. Even his own clients were positioned in such a way that shorting stocks would make them a lot of money . Given how the financial crisis wreaked havoc not long after – and still does to today, albeit less noticeable – it was certainly a bold and completely accurate prediction.
Porter Stansberry also claimed in October of 2012 how all of his subscribers should invest in gold. The official advice was to get in on gold, or for those with less money to spend, get in on the silver action. While the markets fluctuated for a while, Stansberry never sold any of his holdings, nor was he tied to a specific timeline. Both assets performed adequately compared to 2012, making that unexpected prediction very accurate indeed.
The Prominent Porter Stansberry Quote
It is rather interesting to note that Porter Stansberry doesn’t have a plethora of quotes attributed to him at this point. That is not because has nothing informative to say, as the opposite is true. Instead, there is only 1 quote that everyone should take to heart at any given time.
“No one in Washington realizes you can’t borrow money endlessly.”– Porter Stansberry
If the COVID-19 pandemic has taught us anything, it is that many people in Washington still think money can be borrowed endlessly. That train of thought is only facilitated by actions by the Federal Reserve. Printing money on a whim and using it to keep the economy afloat – by making borrowing attractive – is not a long-term solution by any stretch of the imagination.