Bob's Thoughts about cheating
2011 September 7
Bob states he trusts Porter Stansberry and makes money taking his advice:
So, Porter Stansberry states:
"I believe Germany will leave the euro before the end of this year, triggering a massive devaluation
in all the euro's remaining members. I'll state again: The euro is toast."
Let me challenge Robert A. Russell to put half of his investment money into EUO, which would be a
bet on the Euro becoming toast. If Stansberry is correct, then Bob will make a lot of money.
Full text of Porter Stansberry's report follows:
The Next Stage of the Global Monetary Crisis Has Arrived
By Porter Stansberry
Wednesday, September 7, 2011
A big prediction I've been making for over a year is unfortunately coming true.
By now, most people know my controversial "End of America" prediction: That the U.S government
has promised too many free lunches to too many people… and has taken on impossibly large debts
that will never be paid back with sound, honest money. The "end game" of this story is the collapse
of the U.S. dollar as we know it.
WARNING from an American Granddad
"If you're relying on stocks and mutual funds to pay for your retirement, you're making a BIG mistake.
"I've managed money through 2 WARS… 7 RECESSIONS… and 4 stock market CRASHES…
"And in 40 years of investing, I've found one investment opportunity that could pay you every single
year… no matter what happens in the economy."
Click here for full details.
But the U.S. dollar isn't the only paper currency I've predicted will collapse. The currency of the
world's largest economic zone, the euro, is toast as well. A year ago, I told readers…
You should expect the euro to continue to weaken, as the European Central Bank cannot allow Italy
or any large commercial bank to fail. And that means more and bigger bailouts. As the size of these
bailouts continues to escalate, investors around the world will turn to gold and silver as the only truly
Since I wrote that, gold is up 55%. Silver is up 140%. And European stock markets have collapsed.
The cost of insurance against European sovereign debt defaults has skyrocketed to all-time highs.
Shares of Italy's largest bank, UniCredit, have collapsed 50% in just three months. Share prices in
European banks most Americans are familiar with, Germany's Deutsche Bank and England's
Barclays, are collapsing. Even UBS and Credit Suisse – headquartered in Switzerland, considered
a stable banking haven – are collapsing:
Germany, the economic engine of Europe, finds itself holding the bag for essentially all the credit
problems of "problem children" like Greece and Italy. Its central bank is currently holding more than
$300 billion in IOUs from peripheral European central banks – obligations that are probably worth
less than $100 billion.
It's unclear whether Germany will continue to finance these bad debts. And because of Germany's
history, Germany's leaders are loath to consider any substantial effort to monetize the debts through
I believe Germany will leave the euro before the end of this year, triggering a massive devaluation in
all the euro's remaining members. I'll state again: The euro is toast.
Over the past three years, readers have asked me when I expect the crisis to begin. Over that time,
we've seen the bankruptcy of General Motors, the complete destruction of America's investment
banks, the receivership of the world's largest mortgage firms (Fannie and Freddie), and the collapse
of the world's biggest insurance company (AIG). We've seen gold soar to all-time highs. We've
watched agricultural prices soar. We've watched U.S. federal debt explode to $14 trillion… and total
U.S. debt soar past $54 trillion.
And now, we're seeing the collapse of the European banking system. Keep in mind, this system
underpins an economic zone that is larger than the entire United States. The crisis is already here.
I know many people still think I'm crazy for my prediction. But when I perform a simple accounting
analysis of U.S. and European sovereign balance sheets, and when I look at the European financial
system in crisis, I have to think you're crazy NOT to come to the same conclusion. And you're crazy
not to take my unrelenting advice to protect yourself against this crisis by owning plenty of gold and
Check out Porter's latest theories on the America's financial crisis here:
New American Socialism
"What has really happened is clear: Bamboozling the poor has become a way of life for American
Why a Full-Scale Economic Collapse Is Inevitable
"Without the link to gold, bank reserves could be created by fiat. And they were. This led to a huge
expansion of our money supply and our debts."
One of the Most Obvious Frauds Ever Foisted on the American People
"All the profits of this scam go to the executives and the shareholders. The risk goes to the government."