Celente: U.S. Has Entered "The Greatest Depression"

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Celente: U.S. Has Entered “The Greatest Depression”

Deadly accurate trends forecaster urges people to hoard cash reserves, buy gold


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.

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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

http://www.prisonplanet.com/celente-us-has-entered-the-greatest-depression.html

 

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i know i keep thinking it will be different here. not like in america....

but i wonder now at what the differences will be? perhaps only less violence here, but still all the same economic problems? or, as we are so resource rich, i wonder if our overseas borrowings will see govenment(s) sell off some of the family jewels?

the worst posible thing one could have at the moment is debt. the best thing is cash and gold?

those with cash in the next few years will clean up, they will be the only ones in the game. those that have real estate assetts will see them fall in value. if you have too much debt on them, you will probably lose them. those with lots of debt are about to be ruined.

get out of debt. whatever it takes. there be bargains coming in the next few years for the patient.


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[White_Knight]

Western nations are far more screwed today if we enter a Great Depression type scenario because of simple demographics.

US, Europe etc all have large ethnic minorities, most of whom already have a high crime rate. Things get bad and you will get race wars - particularly a concern for Europe because of their Muslim problem. They pretty much hate western values and want to implement Sharia anyway - a dire economic situation will provide fertile ground for extremism and opportunities for violent revolution as rule of law erodes. And they know how to fight dirty, because they do it already. Europeans who have been emasculated by 50 years of idleness, complacency and liberal ideology may not be able to resist effectively.

In the 1930's such nations were ethnically homogenous and did not have the spectre of violent, drug-fuelled crime and race warfare to add to the mix.

Australia should be ok though due to none of these factors being present.

 

[pacestick]

Whire Knight ever hear of prohibition

 

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after all you said. i dont understand why you finished with this....?

Australia should be ok though due to none of these factors being present.

unless you were being facetious?


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[professor_frink]

morning metric,

has this 'deadly accurate trend forecaster' ever correctly predicted a bull market?

 

[White_Knight]

Last i heard, TA couldnt predict social consequences of moronic policies.

Oh and Australia is 90+% European, with only a pretty small Muslim population.

These guys know how to keep their heads down when theyre massively outnumbered. Extremism is hidden, real opinions voiced only behind closed doors. When they get to 10/15/20% - that's when you're gonna get problems.

Look at France for an indicator of what could be to come...


Also, as for the Prohibition factor - alcohol was still widely consumed in the 30's despite being illegal i believe. I dont think you can solely attribute the extremely low crime rate to no alcohol - and if you can, why dont we ban it again?

 

[Glen48]

AIG was loosing a 1Billion a day and most likely still is and with out insurance Planes can't fly, ship sail and a whole raft of other insurance related things, no one seems to know what their exposure to CD"S is but some figures quoted at scary......yet Gold is still sinking???

 

[basilio]

A bit of historical reality White Knight.

Civilization is only 3 meals deep. The Depression and resulting privations of the 30's led to incredible social upheaval around the world. The rise of Fascism and Nazi Germany as well as other military governments were largely caused by the rise of authoritarian parties offering strong handed solutions to the desperation of millions of people. Hungry and desperate people want answers. You don't have to be Muslim to fall into that category.

Also the last time I checked the Australian population we were extremely multicultural. Perhaps before WW2 we were 90% European (whatever that means) but subsequent migration has made Australia a far more blended community.

Cheers

 

[White_Knight]

A bit of historical reality White Knight.

Civilization is only 3 meals deep. The Depression and resulting privations of the 30's led to incredible social upheaval around the world. The rise of Fascism and Nazi Germany as well as other military governments were largely caused by the rise of authoritarian parties offering strong handed solutions to the desperation of millions of people. Hungry and desperate people want answers. You don't have to be Muslim to fall into that category.

Also the last time I checked the Australian population we were extremely multicultural. Perhaps before WW2 we were 90% European (whatever that means) but subsequent migration has made Australia a far more blended community.

Cheers

The linke here shows that Australia's population in 1999 ( abit out of date now) is still overwhelmingly white:

http://elecpress.monash.edu.au/pnp/free/pnpv7n4/v7n4_3price.pdf

(Anglo-Celtic+Northern European+Southern European+Eastern European = 88%)

As to your point about the rise of fascism - yes the eventual results of those governments coming to power were bad...however they were very orderly societies, and in many cases became strong economically (see Nazi Germany).

I'd much rather be living in Nazi Germany, than some European version of Rwanda/Sudan/name your African ****hole (as a comparison)

 

[Bushman]

morning metric,

has this 'deadly accurate trend forecaster' ever correctly predicted a bull market?

LOL; every depressive militia man out there is having the times of their morose lives.

We lead wealthy, media-saturated, pampered existences where our biggest threat is the melodrama we can conjure up in our minds. Just remember - this time it is different

 

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Last i heard, TA couldnt predict social consequences of moronic policies.

Oh and Australia is 90+% European, with only a pretty small Muslim population.

These guys know how to keep their heads down when theyre massively outnumbered. Extremism is hidden, real opinions voiced only behind closed doors. When they get to 10/15/20% - that's when you're gonna get problems.

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The Battle of Broken Hill


The Battle of Broken Hill was a mass killing which took place near Broken Hill, New South Wales, Australia on January 1, 1915. Two men shot dead four people and wounded seven more, before being killed by police and military officers. While the attack was politically inspired (as declared by themselves in notes) the men were not members of any sanctioned armed force. Since, at that time, Australia was preparing to attack the Ottoman Empire, they were first speculated to be Turkish, but later identified as being Muslims from British colony of India (modern day Pakistan).[1][2]

http://en.wikipedia.org/wiki/Battle_of_Broken_Hill

 

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The Assailants


The attackers were both former camel-drivers working at Broken Hill. They were Badsha Mahommed Gool (born 1874 approx [3]), an ice-cream vendor and Mullah Abdullah (born 1854 approx [4]), a local imam and halal butcher.

Gool's ice-cream cart was well-known in town and was used to transport the men to the attack site. They also fashioned a home-made Ottoman flag which they flew. There appears to have been little effort at hiding their identities.

Abdullah had arrived in Broken Hill around 1898 and worked as a camel driver, before becoming a mullah and slaughtering animals according to Islamic rites (halal). Several days before the killings Adbullah was convicted by Chief Sanitary Inspector Brosnan for slaughtering sheep on premises not licensed for slaughtering. It was not the first charge. [5] Considering the slaughter-house unions at that time had racially discriminatory policies, there was little scope for Abdullah to legally prepare halal meats for the Muslim community. In addition, he had ceased wearing his turban years beforehand "since the day some larrikin threw stones at me, and I did not like it"[6]

Gool Mohamed lived next door to Mullah Adbullah. Gool was a member of the Afridi, a Pashtun clan, from Afghanistan. He claimed he had been in the Turkish Army several times and was believed to regularly smoke gungha (strong marijauna)[7]. Police Constable Mills later conjectured that Gool had used Abdullah's concerns over the fine as leverage to convince him to take part in the killings.


[edit] The Picnic Train
Each New Year's Day the Manchester Unity Order of Oddfellows (a local lodge) held a picnic at Silverton. The train from Broken Hill to Silverton was crowded with 1200 picnickers on 40 open trucks. Three kilometres out of town, Gool and Abdullah positioned themselves on an embankment about 30 metres from the tracks. As the train passed they opened fire with two rifles, discharging 20-30 shots.

The crowd originally thought the shots were in honour of the train passing, but once people started falling the reality sank in. Alma Cowie, aged 17 [8] who was on a date with boyfriend Clarry O’Brien, died instantly. William John Shaw, who was a foreman in the Sanitary Department, was also killed on the train.

The railway guard on the train was "Tiger" Dick (Eric Edward) Nyholm, soon to be a father of six including the late Prof Sir Ronald Nyholm [9] also of Broken Hill. Dick, also a well known marksman, was instrumental in protecting the train and its passengers.


[edit] The 'Battle'
Gool and Mulla made their way from the train towards the West Camel camp where they lived. On the way they murdered Alfred E. Millard who had taken shelter in his hut. By this time the train had pulled over at a siding and the police were telephoned. The police contacted Lieutenant Resch at the local army base who despatched his men. When police encountered Gool and Abdullah near the Cable Hotel, the pair shot and wounded Constable Mills. Gool and Abdullah then took shelter among a white quartz outcrop, which provided good cover. A 90 minute gun battle followed, in which armed members of the public continually arrived to join the police and military. Very little shooting came from the pair and most was off target, leading Constable Ward to conclude that Mullah Abdullah was already dead and Gool was injured.

James Craig (a 69 year old occupant of a house behind the Cable Hotel) who resisted his daughter's warning about chopping wood during a gun battle, was hit by a stray bullet and killed. He was the fourth victim to be killed. The seven wounded were: Mary Kavanagh, George Stokes, Thomas Campbell, Lucy Shaw (daughter of William), Alma Crocker, Rose Crabb, Constable Robert Mills. [10]

At "one o'clock a rush took place to the Turks' stronghold" [10] An eyewitness later stated that Gool had stood with a white rag tied to his rifle but was cut down by gunfire (he was found with 16 wounds). The mob would not allow Abdullah's body to be taken away in the ambulance. Later that day both bodies were disposed of in secret by the police.


[edit] The Aftermath
The attackers left notes connecting their actions were related to the hostilities between the Ottoman and British Empires which had been officially declared in October 1914. Believing he would be killed, Gool Mahomed left a letter in his waistbelt, which stated that he was a subject of the Ottoman Sultan and that, "I must kill your men and give my life for my faith by order of the Sultan."

Mullah Abdullah said in his last letter that he was dying for his faith and in obedience to the order of the Sultan, "but owing to my grudge against [Chief Sanitary Inspector Brosnan] it was my intention to kill him first. Beyond this there is no enmity against anybody, and we informed nobody."[11]

While the police stopped a mob from marching on an Afghani camp the following night, there was no violence against the Muslim community afterwards. Instead, the actions were seen as representative of 'enemy aliens' and the Germans in the area were the focus of violence. Believing the Germans had put them up to the attack, the local German Club was burnt to ground, the angry mob cutting the hoses of the firemen who came to fight the flames.

The next day the mines of Broken Hill fired all employees deemed 'enemy aliens' under the 1914 Commonwealth War Precautions Act. Six Austrians, four Germans and one Turk were ordered out of town by the public. Shortly after all 'enemy aliens' in Australia were interned for the duration of the war.[12]

Silverton Tramway Company refunded in full the fares for the picnic train and the money was used to launch a public relief fund.