Porter Stansberry

“You see this in the oil industry time and time again. Fears that we've found the last oil, that we're going to run out, pop up constantly. And soon afterward, because the price goes up, huge new reservoirs are discovered.”

“And I don't want my assets to be stuck inside a banana republic in the midst of a huge socialist experiment.”

“Any country whose currency is used as a reserve enjoys tremendous benefits because those currencies gain a significant discount to financing costs.”

“The fear is that if the dollar falls below 50% of the currency basket held by commercial and central banks and insurance companies, there may be a democratization of the way currencies are priced.”

“The yuan is actually a very attractive currency and will prove to be very reliable-much more so than the U.S. dollar.”

“By buying off the bottom in the real estate markets, I'm doing the best I can to protect myself from any future calamity. Time will tell whether it will work.”

“The management teams in these royalty and streaming companies have the highest-quality research and the most visibility into all of the producers. So if you really want to know what's going on in the resource space, you should talk to the management team of a royalty company.”

“There is a belief, at least on the part of the American people, that they can borrow money forever without consequence.”

“I've been buying real estate because it's an asset I can control, that I could finance extremely cheaply if I chose to. I do not choose to; I buy my real estate in cash. I'm not interested in making money on it. I just want to keep my money safe.”

“Relative to oil, however, natural gas is very cheap and very attractive. And I think that natural gas in emerging markets is very attractive. There is very little natural gas infrastructure in places such as China, where there is tremendous demand for natural gas.”

“When you're dealing with a bankrupt sovereign - like the U.S. government - you're dealing with a very powerful wounded bear. You have to be very careful because you can't know what the beast is going to do.”

“I think what's happened to America, in a cultural sense, is we stopped getting richer as a country in the early 1970s, but we haven't adjusted our consumption patterns in any way, shape or form to meet the realities of the new lower income.”

“I'm happy to make returns of 4% to 6% a year on my real estate portfolio. If inflation comes along I'll be able to increase rent and have capital appreciation roughly in line with inflation.”

“Historically, bad money always drives out good. Accordingly, if a central bank anywhere in the world sets up its currency to be backed by any kind of hard currency, it would cause people all around the world to desire that currency for their savings, rather than dollars.”

“Stock price multiples are negatively correlated with real interest rates. As interest rates rise, the market multiple will fall.”

“It's not hard to generate a paper fortune in a huge inflation. All you have to do is own the most important economic assets: energy, communication, and transportation.”

“Stocks actually can be a very good hedge against inflation, and short of hyperinflation, stocks will have the ability to increase their dividends to match the rise in prices.”

“You can tax the rich to pay for current spending. You can even tax them very heavily. But when the rich look forward for decades and see nothing but increasing taxes, debts, and government control of their businesses and assets - they will leave.”

“I didn't understand anything about fracking or horizontal drilling until about 2010, when I first learned about the Eagle Ford.”

“Because America is the Saudi Arabia of natural gas. We have the world's largest reserves of natural gas, and the world's most sophisticated production and storage facilities, by a wide margin.”