Politics

Stansberry & Associates Pushes Conspiracy Theory: Obama Will Demand, Get Third Term as President

| by Michael Allen

In case you haven't heard, the newest right-wing conspiracy is that President Obama has a secret plot to get a third term in the White House.

The creator of this theory is Baltimore-based businessman Porter Stansberry, who runs Stansberry & Associates Investment Research, a publishing firm that sells financial advice, reports Mother Jones.

Before President Obama won re-election, Stansberry & Associates began blasting out emails to subscribers of various conservative newsletters, claiming: "Most people believe the election was all about whether or not Obama will have a second term. But it was not. What was actually at stake was whether or not he will have a third-term."

Popular Video

People were so furious about this Pepsi ad that Pepsi pulled it after just one day. Watch it here and decide if it's offensive:

Stansberry's e-mails then told gullible readers to review his "analysis" on his website "free of charge."

Stansberry's theory is that a major event will lead to a surge in American economic prosperity, President Obama will claim credit, get an unprecedented boost in approval ratings, demand a third term and become American history's greatest tyrant.

Popular Video

People were so furious about this Pepsi ad that Pepsi pulled it after just one day. Watch it here and decide if it's offensive:

Stansberry's e-mails ignore the reality that President Obama cannot seek a third term. The 22nd Amendment to the Constitution prohibits a president from being elected more than twice.

Stansberry & Associates has something of a checkered past. In 2003, the SEC filed a complaint against it for pushing false information via a financial newsletter. In 2007, Stansberry (and his investment firm, then called Pirate Investor) was ordered by a federal court to pay $1.5 million in civil penalties and restitution, reports Mother Jones.