The website is an infomercial created by Porter Stansberry of Stansberry & Associates Investment Research. In the first 45 minutes, he discusses the current state of debt and the impetus for inflation in the US, along with the devaluation of the US Dollar and removal of the Dollar as the world standard of payment. Now, I can’t disagree with his facts, but I question his delivery. Think of a rational and long-winded Glen Beck. He polarizes the discussion with scare tactics and fear-mongering and encourages the purchase of his monthly newsletter. In the last 15 minutes, he gives you 4 very vague ways to avoid, and even make money in the crisis. He offers the details in free newsletters along with a trial subscription to his newsletter.
With some due diligence on the web, I located the newsletters. These papers advocate the purchase of gold and silver, the transfer of assets to offshore accounts, the purchase of farmland and land outside the US, and the use of naked puts. While each of these types of investments has its place, not everyone is in a financial position to take on some of the risky strategies he proposes. Also, he has been sued by the SEC for “defraud[ing] public investors by disseminating false information in several Internet newsletters” (US SEC Civil Action No. MJG 03 CV 1042).
Next, I checked the FINRA website and I called them directly. He is not listed as a broker and is not a registered member. He may do financial research, and some of his material has specific financial recommendations, but he is not a Registered Investment Advisor.
After reviewing the newsletters and reading about Porter, I cannot endorse any of his practices. If you decide that you are interested in his information, be extremely careful and do your own homework. If you are really concerned and want to follow his ideas, you could scale down some of the expensive strategies to fit the average investor. For example, you could buy silver coins from the local dealer, set up a chicken coop in your backyard and grow tomatoes on your back porch.
But in case of the financial “end of the world,” your best bet may be good friends and neighbors that pull together to help each other.