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Celente: U.S. Has Entered “The Greatest Depression”
Deadly accurate trends forecaster urges people to hoard cash reserves, buy gold
Paul Joseph Watson
Prison Planet.com
Tuesday, March 3, 2009
Trends research analyst Gerald Celente, who has risen in prominence on the back of his deadly accurate economic predictions, says that the collapse of financial markets heralds the start of “The Greatest Depression”.
In his latest Trend Alert bulletin, Celente attacks mainstream pundits who falsely predicted a market bottom and the start of a recovery, noting that conventional analysts have been proven “dead wrong” again and that, “There will be no turn around in the second quarter of 2009 or 2010 or 2011.”
“The global financial system, built on endless supplies of cheap money, rampant speculation, fraud, greed, and delusion is terminally ill and will not be coaxed into remission by stimulus packages nor restored to health by government buyouts and bailouts,” writes Celente.
The most positive prediction that Celente makes is that the Dow will not reach zero, a tongue in cheek reaction to yesterday’s record plunge which saw the Dow rolled back to 1997 levels well below 7,000.
(ARTICLE CONTINUES BELOW)
Celente warns that the first signs of real panic are starting to set in, unrest that will cause governments to “take draconian measures to prevent total economic collapse and public panic.”
“Expect massive bank failures, runs on banks, and bank holidays,” writes Celente. “Even if deposits are FDIC insured, quick access to money is by no means assured. At minimum, have reserves on hand for emergencies,” he forecasts.
Celente cites gold as one of the few investments that will continue to rise in value, eventually reaching $2,000 an ounce and beyond.
Celente’s dire forecasts were initially scoffed at by the media but as the crisis has worsened, his credibility has soared.
Celente, who successfully predicted the 1997 Asian Currency Crisis, the subprime mortgage collapse and the massive devaluation of the U.S. dollar, told UPI in November 2007 that the following year would be known as “The Panic of 2008,” adding that “giants (would) tumble to their deaths,” which is exactly what we have witnessed with the collapse of Lehman Brothers, Bear Stearns and others.
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64 Responses to “Celente: U.S. Has Entered “The Greatest Depression””
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March 3rd, 2009 at 6:18 am
Smart money is on the people who are SMART enough to cut their losses, and pull their money OUT of the stock market today, before the bottom falls out. CNN is already guestimating it will drop to the 5000 level, TODAY.
Invest that money in Food, and precious metal, Brass, Lead and some gunpowder in between them… silver and gold if you can afford it…
Social Viability Reply:
March 3rd, 2009 at 12:56 pm
Couldn’t agree more, Charles.
In fact the smart money would’ve been out of the stock market years ago.
Some people looked at me like I had leprosy when I said in ‘05 that home prices and stock values were way higher than their intrinsic value. And I would say they STILL are overvalued.
Market price has NOTHING to do with the intrinsic value of a product or service.
A currency is supposed to be a unit of measurement for commercial value. Yet our fraudulent monetary system uses a currency that doesn’t even have a defined value. It’s like a builder trying to construct a modern building when the inches and feet that he uses for measurement change every day according to fickle, manipulated markets.
Asinine.
Click the link below to learn about an alternative currency that uses the fundamental element of commercial value as money.
Don’t fight the system:
Replace it
http://socialviability.com/
Martin Reply:
March 8th, 2009 at 6:12 pm
Excellent comments all!
March 3rd, 2009 at 6:37 am
When I was a kid, our history classes showed pictures of the crisis during the Weimar Republic. Things like having a wheelbarrow of money to buy a loaf of bread. That collapse was due to the injustice of the Germany’s surrender terms in WW1.
Tomorrow’s children will be seeing history lessons about the crisis of the US in the 21st century. Things like having a wheelbarrow of money to buy a loaf of bread. This collapse is due to greed, wholesale theft and rampant corruption. Hopefully this crisis will end with mass hangings of the criminal trash responsible.
March 3rd, 2009 at 6:40 am
The money you have, will be the money you have in your pocket soon.
Form a new Court System and Put “Them” on trial and follow the “Law” in this land again. It will be the only way to get rid of this tyrany.
You have to stop this by cutting off the head of this snake.
kb Reply:
March 3rd, 2009 at 7:27 am
You are correct.
The cyber cash system will spiral out of control and the physical paper money will be the medium for a while.
There is no where near enough physical cash to account for all the phony debits and credits that people think they “own”.
We need to arrest the current power structure and replace it with people that actually care about the future of the species.
FREEDOMFIRE Reply:
March 3rd, 2009 at 7:46 am
money=debt, the crisis is just a movement of the chess game that the illuminati are doing, they ceate the problem, then there is a reation and then they came out with the solution, and the solution is One world currency and new world order, if this crisis continues we will be facing a major collapse of the hole world economic sistem, and that will be caos a great caos will take over our world and our world since that momment wont be the same. Know your enemys.Get inform.
http://www.youtube.com/watch?v=xpZ0bFE7Pcc
March 3rd, 2009 at 6:42 am
Must be Rush Limbaugh day…
March 3rd, 2009 at 6:44 am
I see the irony of the right-wingers smearing Issac Newton……..is gravity a heresay now? Hmmm….
March 3rd, 2009 at 6:58 am
Where’s the video. I like to hear this stuff straight from Celente.
Mirlaine Reply:
March 3rd, 2009 at 9:20 am
Here it is:
‘ Worst economic collapse ever’
http://www.youtube.com/watch?v=9nJ7LM3iyNg
March 3rd, 2009 at 7:05 am
I believe today is a critical day for the stock market. If it does plunge 400 or more points the panic button will have been pushed.
March 3rd, 2009 at 7:09 am
Alex Jones at a recent truther convention:
http://opposingdigits.com/images/sheepherder.jpg
March 3rd, 2009 at 7:12 am
When the majority of people are out of money, what are you going to do with the gold you buy now? Eat it? Use it for clothing? A blanket?
Use your head folks.
kb Reply:
March 3rd, 2009 at 7:30 am
I agree. Buy real and useful items.
Food and a water source that can be filtered or purified.
All worthless paper contracts will be null and void. Most are nothing but fruadulent usary anyhow.
Gold is a non performing unuseful asset…………just a symbol.
LuckyOne Reply:
March 3rd, 2009 at 7:40 am
Gold will always retain a value. Has done so for thousands of years and will for a long time (or until the end times, for the Christian community). I’m not one to say you must have gold. A little would suffice (along with some silver, food, ammo, etc…be well rounded).
And never forget that there will always be an underground market. When push comes to shove, we Americans are ingenious.
Bob Reply:
March 3rd, 2009 at 9:13 am
Yttria, you need to educate yourself on how it all works. First off the “gold merchants”, you are probably talking about the brokers, don’t own all the gold they sell. They acquire it and take a fee for the transaction similar to a stoke broker or commodities broker. Most of the gold brokers, practice what they preach, they foresee the imminent demise of the American dollar and hold a large portion of their personal assets in gold, silver, platinum and palladium. Meanwhile all people who live in the United States need to pay their mortgage and buy food, clothing, gas, oil, electricity with the American dollar. If you are sitting on a large cache of gold or silver, you need to liquidate it to buy items you need immediately. You can’t go to the supermarket and hand them a Kruggerand and say “OK, now give me $900.00 worth of stuff”.
Secondly, gold has historically remained at a constant value. Gold doesn’t really climb, what is happening is that the dollar is dropping in value. When the price of Gold, “goes up” it really means the value of the dollar is falling. The price of gold has been artificially depressed by the Federal Reserve and Bilderbergers for many years. I got out of the stock market two years ago, it was obvious to a trained chimp that stocks in general were overvalued. Now that all that 401K, IRA money I have is vulnerable. I converted all my IRA money to Gold and Silver IRA. A smart investor will hold assets in gold, silver, real estate (that you can actually afford, not talking about the idiots who got subprime mortgages) and diversify your currency holdings. It is prudent to buy currencies from nations that have a small GDP to debt ratio and posess many valuable natural resources.
admin Reply:
March 3rd, 2009 at 9:17 am
“Exactly! If the dollar has been greatly devalued and will soon be worthless, and gold is so valuable and climbing, why are snake oil salesmen, err, gold merchants, so willing to take dollars for their gold?”
You obviously have no grasp of trading gold. Ted buys gold when it is at a temporary low and sells it at a high. He sells it at knock down prices that I have seen nowhere else. All he gets is a paltry commission to pay his employees, keep GCN running, and put food on the table. The rest is earned from decades of experience in being smart and knowing when to buy when the market hits a temporary low.
We all need dollars to pay day to day as well as operating costs and Ted is no different. Running a legitimate gold company that offers its customers discount prices that routinely beat the competition is hurting nobody.
If Ted was a snake oil salesman he would be ripping people off. In reality, if I would have bought gold off Ted 4 or 5 years ago when I should have, my savings would have doubled by now.
yt Reply:
March 3rd, 2009 at 8:18 pm
I’ll repeat the above post here for posterity, and the sake of lesser thinkers like admin/Paul Joseph Watson:
“When the majority of people are out of money, what are you going to do with the gold you buy now? Eat it? Use it for clothing? A blanket?
Use your head folks.”
Swede1 Reply:
March 3rd, 2009 at 9:18 am
Good question. Im stalkin up with seeds and growing a garden and doing what I can to fill the pantry. People will want food, those are the basics and if obama is using the FDR playbook, gold will not be accepted. Try selling gold to your neighboor for food or ammo. although gold is a good hedge instrument in bad times, during the last great depression is wasn’t worth anything to the common folk.
March 3rd, 2009 at 7:32 am
The Democrats have stopped governing effectively.
There was a secret session of the house of representatives in March 13, 2008 and from April the Democrats stopped working on policies.
Their website doesn’t list any caucus accomplishments since April of 2008.
That means, they’re planning martial law as soon as they have sucked as much money out of the USA.
It could be a couple of weeks!
Get ready now!
Fight.
Martial law will be followed by FEMA camps and mass graves. However, they present it as restoring order, it is a death sentence to Americans.
[Reply]
March 3rd, 2009 at 7:36 am
God is useful as a currency standard or for times of hyperinflation, but not for day to day survival in a collapsed economy. You can’t go to a corner stop with a gold bar and buy up the few meagre tin cans left.
A better investment if you have any cash is
- a solar panel to provide you with off grid energy
- extra energy can be bartered with neighbours for goods
- a patch of land to grow your own food
- rain collection and water purifying equipment
-a stockpile of food such as oats, flour, sugar, oil, nuts, milk powder, tinned cans, rice
- a stockpile of items to trade such as scotch
- a stockpile of ammunition and guns
good neighbours and a well organised community support network.
But before it comes to that, fight through your congress etc. Organise a Revolution!
kb Reply:
March 3rd, 2009 at 7:55 am
We need more people thinking like you.
Dilbert McGunnut Reply:
March 3rd, 2009 at 8:25 am
This is exactly what is detailed in the book Patriot, Surviving the Coming Collapse by James Rawles. I have read the book and recommend reading it. Get prepared.
A Patriot Reply:
March 3rd, 2009 at 10:07 am
Am reading the extended edition now – great book! – entertaining and super informative!
templiaxil Beholderozac Reply:
March 3rd, 2009 at 10:12 pm
Put in survival kit wikipedia. It is the best quick reference I have forund, then go to external links for more specialized lists. There wasn’t anything about surviving extreme bordom.
michelle Reply:
March 4th, 2009 at 12:59 am
If you stock up on rice and flour and oats, PLEASE, keep em in the fridge. The industry which manufactures thewe products allows a certain amount of non hatched eggs in the product itself. If the product is stored long enough in cozy room temperatures, they will hatch and you will open a bag of worms.
March 3rd, 2009 at 7:37 am
The Democrats have stopped governing effectively.
There was a secret session of the house of representatives in March 13, 2008 and from April the Democrats stopped working on policies.
Their website doesn’t list any caucus accomplishments since April of 2008.
That means, they’re planning martial law as soon as they have sucked as much money out of the USA.
It could be a couple of weeks!
Get ready now!
Fight.
Martial law will be followed by FEMA camps and mass graves. However, they present it as restoring order, it is a death sentence to Americans.
Ricardo R. Ampil Reply:
March 10th, 2009 at 1:37 am
I have seen it coming. History repeating itself. America has become a Godless nation. They invited the advent of this tragic event to themselves.
March 3rd, 2009 at 7:42 am
things are getting weird.. stocking up on food is never a bad idea.
http://www.youtube.com/watch?v=zNOJc0w-fzY
March 3rd, 2009 at 7:51 am
SURPRISE!!!!!!!!!
So lets all pray this starts evolving into a decentralised political justice/rights (10thammendment) shit.
March 3rd, 2009 at 7:53 am
Israel wants war. God I pay to you, let the prophecy of Isaiah and Jeremiah be fulfilled soon. May Israel be desolate, empty of all inhabitants soon, O Lord, a just returbution for its evil as you, O Lord, prophesised!
bonepeeler Reply:
March 3rd, 2009 at 8:40 am
“God I pay to you”: an ironic misspelling.
March 3rd, 2009 at 8:46 am
You’d better learn how to hunt and fish and tend a garden, because you will need these to survive. Hide all your guns and ammo as Obomber and Holder want to take them and leave you defenseless against the mexican drug gangs. You wives and daughters will be raped and you will be murdered. Learn to defend yourselves.
We will of course have to defend ourselves against an unconstitutional government which means we will have to form a new Continental Army. This wil be a citizen’s army but will also have ex military and law enforcement who still believe in the Constitution.
Things are going to get very ugly very soon. be prepared.
March 3rd, 2009 at 9:04 am
A MUST SEE…MILITARY PATENTS SHOWING CHEMTRAILS HAVE ALWAYS BEEN REAL…
http://www.youtube.com/watch?v=ahjJtEjWDPA
March 3rd, 2009 at 9:45 am
For the great day of the Lord is near, it is near, and very speedy; the sound of the day of the Lord is made bitter and harsh. A mighty day of wrath is that day, a day of affliction and distress, a day of desolation and destruction, a day of gloominess and darkness, a day of cloud and vapour, a day of the trumpet and cry against the strong cities, and against the high towers. And I will greatly afflict the men, and they shall walk as blind men, because they have sinned against the Lord YHVH; therefore he shall pour out their blood as dust, and their flesh as dung. And their silver and their gold shall in nowise be able to rescue them in the day of the Lord’s wrath; but the whole land shall be devoured by the fire of his jealously;
love@lets-watch.com
templiaxil Beholderozac Reply:
March 3rd, 2009 at 10:07 pm
Wrong again Robert the Lord is going to keep working and boring us to death -the things you hve written above would be interesting. When has the lord done any of those industrial light and magic things? That is why hollywood movies are so popular because life is mundane and booooooooooooooring and the lord is doing it to us if he is in charge.
That is my feeling , deal.
March 3rd, 2009 at 10:19 am
funny that no one has been seeing this coming.
I thought it was long overdue.
worries and fears perpetuated by money and drugs, information being led astray by fools that “think” they are true of heart.
look over the posts and see that all of us are being led by fear. Its good to be scared, it good to be leary, but to act on that fear and in fear act on responses to our fear, instead of logic, we are ending up no better than the fools that are leading us astray.
hold true to your heart, if it feels wrong it usually is.
March 3rd, 2009 at 10:34 am
As President Franklin Delano Roosevelt said in his 1933 inaugural address, “The only thing we have to fear is fear itself—nameless, unreasoning, unjustified, terror—
Fear is going to cause this country to fall apart. People are afraid of the stock markets, loosing their jobs, and living on the streets. Some people don’t wan’t to pay their bills anymore. So, we have the Goverment doing it for them. Banks are losing money everday, and the majority of Americans are gearing up for the unknown (ammo, guns, gold coins, silver, and food stock). Sound familiar! [For God has not given us a spirit of fear, but of power and of love and of a sound mind II Timothy 1:7] Stop doing what the devil wants you to do, and that’s fearing. Live for Christ!
March 3rd, 2009 at 10:44 am
The good news is that the Dow won’t go to zero.
March 3rd, 2009 at 10:56 am
Hmmm, how does Gerald Celente, founder & director, The Trends Research Institute, make his money? Hmmm.
Sniff, sniff.
March 3rd, 2009 at 11:07 am
I say to hell with gold and silver, I am investing in lead and brass
global plantation serf Reply:
March 3rd, 2009 at 12:32 pm
You can also invest in Scotch, and you can drink it too.
March 3rd, 2009 at 11:32 am
God has nothing to do with this-stop looking for a savior or prophesy of doom. 2012 is a doomes day prophesy because we make it so. It is time we as a society start taking responsibility for our selves. But how ? But how ? The first thing to go will be all modes of electronic communication-how will we then organize ? The powers that be understand that the world is overpopulated (one of the reasons for our current predicament) and that the only way out is to radically reduce the population-by starvation. Katrina was just an experiment. The real people in charge no longer care about money, they thrive and eat off of others’ suffering and pain.
March 3rd, 2009 at 11:55 am
why is this celente guy so full of hate speech. like bummer you know. My Man pres Obama is going to pass a great stimulus to help all of else. he just said so. everyone will be equal for once and plenty for all. this is a great thing guys. like you know stocks have always move up and downed like short term gyrations pres said. so like why is everyone talking about buying food and gold? Charles can you help me on this? like in marin county CA we are all happy and free. we love everyone.
puzzeld in CA
global plantation serf Reply:
March 3rd, 2009 at 12:30 pm
Wow! Here take a look at this link:
http://www.notinkansas.us/du_2.html#Secret
Sorry to shock you but I think it’s better that you know that this is what our government does.
March 3rd, 2009 at 12:05 pm
If you want to buy something useful, rather than endless amounts of shiny ballast, buy a sailboat, equip it with wind-based electricity generation, learn to sail and navigate and THAT is an investment that will be useful and keep its value.
templiaxil Beholderozac Reply:
March 3rd, 2009 at 10:01 pm
I love enya.
March 3rd, 2009 at 12:14 pm
Another story without quotes to original source material.
you guys can do better and its important that you do!!!
Stop putting stuff on the boards that can’t be fact checked to other sources!
Where and when did Celente make these statements???
Tied of being afraid Reply:
March 3rd, 2009 at 12:58 pm
Mirlaine Reply:
March 3rd, 2009 at 9:20 am
Here it is:
‘ Worst economic collapse ever’
http://www.youtube.com/watch?v=9nJ7LM3iyNg
March 3rd, 2009 at 5:36 pm
Even people who have had an “Obatomy” can be cured by hunger.
March 3rd, 2009 at 5:42 pm
Only fools would believe there money is safe, Particularly in the Bank with a Government guarantee.
A Guarantee from the very Governments that put you in this mess, with there lack of control,
The very Governments, that can not, get you out of this mess, with there lack intelligence,
The very Government that will lie, and lie, and continue to lie to you.
The very Government that will destroy you so it can survive.
WAKE-UP Its time to get your money out and invest in GOLD, and SILVER.
It will be to late very soon.
templiaxil Beholderozac Reply:
March 3rd, 2009 at 9:59 pm
For a good drama about gold please watch “the treasure of the sierra madre” with humphrey bogart. Classic by John Huston. The best.
March 3rd, 2009 at 5:51 pm
This is happening under America’s first black president:
http://www.honoluluadvertiser......30349/1001
While bankers are being bailed out and 17,000 more troops were dispatched to Afghanistan, single moms who produce the bulk of the cannonfodder and the defective are being thrown out on the streets. I guess that’s so poorhouses can be made to look humane.
March 3rd, 2009 at 7:49 pm
You guys are stupid, extremely fearful. Stop panicking then maybe things get better. LOL “buy a patch of land, collect seeds”, WTF is wrong with you people? Ammo? Guns? HAHAHAAH
March 3rd, 2009 at 8:26 pm
Actually it seems people are liking such sombre prophecies.
Keep cool: Recession will deepen, but in 2010, we will
eventually see the turnaround.
As everyone should know, economy evolves in cycles,
a high is followed by a low, which is again followed by
a high and so on. This is called the Kondratiev cycle.
The message is clear: Even if we were heading towards
a full-blown depression, also this would not last for ever,
it would end some day and economy would recover
again.
For a more detailed description of economical cyclicality
look here:
> http://www.nowandfutures.com/forecast.html
March 3rd, 2009 at 9:46 pm
THE ONLY SOLUTION..IS A REVOLUTION…
March 3rd, 2009 at 9:53 pm
Gold is worthless eh? Then why is China today(in the news) buying $ 92 000 000 000 more?
March 3rd, 2009 at 9:54 pm
This is NOT A RECESSION…THIS IS A FULL BLOWN MEGA DEPRESSION..which has only just begun…go ahead..keep believing”your” talking head leaders..
March 3rd, 2009 at 9:56 pm
B.S. I have entered the greate t depression in history and I challenge anyone to prove anyone is more depressed than me. You could have asked my shrink but he duct taped a grenade to his head and defenestrated after my last session.
March 4th, 2009 at 9:21 am
It’s not a full-blown mega depression Michael you DUMBASS!!!
March 4th, 2009 at 9:24 pm
There is no place like home, There is no place like home…There is no Depression…Close your eyes and it just might work.
http://www.youtube.com/watch?v=H_pgcapIisc
March 5th, 2009 at 3:51 am
Hopefully all you amerikan sheeple have enough food and water put up for the coming food shortages. And no-the great god OBAMA will not save you!
March 11th, 2009 at 6:23 pm
i am going to jamaica to spend my days on the beach smoking weed