Porter Stansberry Quotes

Many of the worst crises occur when there is a financial collapse in a country with pegged exchange rates. Both successful and unsuccessful defenses of a pegged exchange rate require large expenditure of foreign exchange reserves that could be used for investment or consumption. Both also require strong deflationary measures that severely reduce income, wealth, and living standards.

What would a loss of confidence in the dollar actually look like? Gold going absolutely nuts.

Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess, though one likely consequence is an onslaught of inflation.

Believe me, the next step is a currency crisis because there will be a rejection of the dollar, the rejection of the dollar is a big, big event, and then your personal liberties are going to be severely threatened.

Hyperinflation can take virtually your entire life's savings, without the government having to bother raising the official tax rate at all.

If you print money like in Zimbabwe... the purchasing power of money goes down, and the standards of living go down, and eventually, you have a civil war.

The Depression was an incredibly dramatic episode - an era of stock-market crashes, breadlines, bank runs and wild currency speculation, with the storm clouds of war gathering ominously in the background... For my money, few periods are so replete with human interest.

The consequences of a collapse would not be pretty. Whichever country precipitated it - Germany by threatening to abandon the euro, or Greece or Spain by actually doing so - would trigger economic chaos and incur its neighbours' wrath.

At some point, the dollar has to give. You can't just keep printing money, and monetizing debt, and buying bonds, without the dollar imploding.

When the franc was in danger of collapsing in 1956, it was the Americans who propped it up and their reward was to be insulted and swindled on the streets of Paris. I was there. I saw it.

Central banks need to be able to buy bonds if there are short-term malfunctions of the markets. But buying bonds without differentiation and without limits would be very problematic.

In this age, if the currency of a major nation collapses, or its access to borrowing ends, it just can't function.

France is the country where the money falls apart and you can't tear the toilet paper.

He who tampers with the currency robs labor of its bread.

A disordered currency is one of the greatest political evils.

The Fed Note is essentially unsound. It is the worst currency and the most dangerous that this Country has ever known.

Europe is on an economic collision course with reality.

Your friends, through economic mismanagement (see Greece), can harm you faster than your enemies. And your rivals falling (see Russia and China) can be more dangerous than your rivals rising. If Russia, an economy spanning nine time zones, goes into recession and cannot pay foreign lenders with its lower oil revenues — and all this leads to political turmoil and defaults to Western banks — that crash will be felt globally

A short squeeze could happen with the U.S. dollar if lenders suddenly forced debtors to pay in cash.

In the panic of 1819, the protectionists stressed the lack of consumer markets abroad and the necessity for building up a market at home. The inflationists, on the other hand, stressed the shortage of money capital available to manufacturers as a cause of the crisis.

I am concerned about the erraticness of the dollar. The dollar is up, the dollar is down. We print a lot of dollars. The dollar gets devalued. That is really the concern. If people think the gold price up and down is a reflection of something wrong with gold, no - I say it is something wrong with the dollar.

Look at the Weimar Republic and their hyperinflation in the early '20s. It didn't happen overnight. I've used the analogy, it's a lot like soybeans: you plant 'em, you wait. Conditions take some time. You need some sun; you need some water, but ultimately things start to grow, and are we in that phase or not?

When the dollar is in trouble, that will be one of the alternatives, and the more Bitcoins are used, the worse it will be for the dollar.

Any time a country transitioned to a fiat currency, they collapsed. That's just world history; you don't have to know about cryptocurrency to know that.

Currency regimes in the past were always destroyed by volatility. So sooner or later, people desire a currency that is stable.