Porter Stansberry, the financial publisher known as much for his viral, ominous 2010 video "The End of America" as he is for his run-ins with the Security Exchange Commission, is back with another foreboding video, titled "The End of Barack Obama?"
In the video, which runs more than an hour in length, Stansberry warns listeners that a major crisis is coming that will "shake the very foundation" of the country and could "bring our country and way of life to a grinding halt."
That crisis, according to Stansberry, is the government's mounting debt, which the U.S. will be unable to pay back once it no longer prints money. Among the scary scenarios the financial publisher predicts: banks and businesses close their doors, and martial law is instated across the country.
The video directs listeners to "protect" themselves and their families by signing up for a subscription to his investment firm's newsletter for $49.50 per year. His Baltimore-based firm, Stansberry & Associates Investment Research, already has hundreds of thousands of paid subscribers in more than 120 countries, according to Stansberry. Sara Wilson, a spokeswoman for the firm, told Whispers that Stansberry "is widely recognized for his economic insight and understanding."
But a legal disclaimer at the bottom of the page notes that the firm's work "may contain errors."
Stansberry has reason to be careful. In 2003, the Securities and Exchange Commission sued him for allegedly fraudulent practices toward his clients. As a result, Stansberry was "ordered to pay $1.5 million in restitution and civil penalties for disseminating false stock information and defrauding public investors through a financial newsletter," according to The Baltimore Sun.
Stansberry has argued that the SEC may have come after him because the commission didn't want people to "know the truth about our financial markets."
Stansberry has also predicted that Obama may somehow score a third term, despite a two-term limit for U.S. presidents.