Gerald Celente: It’s more than just the demise of the dollar. This is going to be felt worldwide (October 2009)
Gerald Celente, Trends Research founder, discusses the US Dollar on Russia Today 8, 2009
I say it over and over again. You can’t print phantom money out of thin air, backed by nothing, and producing practically nothing without destroying the dollar. They’ve been doing it for decades.
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It’s more than just the demise of the dollar. This is going to be felt worldwide. There’s a major financial crisis ahead. The United State, the world’s super power, is failing on its most basic level - and, that’s the gold rule. Those who have the gold, rule. And, America is losing its gold. It’s losing the value of its currency.
Gerald Celente interview with RT:
The following video with David Malpass, President of Encima Global, goes into a basic historical overview of the US Dollar and how it has acted for the last several years as a result of rhetoric from different administrations. This one was recommended by Tyler Durden at Zero Hedge and is well worth the 4 minutes to watch.
Take away: Whatever they say… believe exactly the opposite.
David Malpass interview:
Author: Mac Slavo
Date: October 8th, 2009
Visit the Author's Website: http://www.SHTFplan.com/
October 8th, 2009 at 7:29 pm
It’s hard to know WTF is actually going on. I am leaning towards a total dollar collapse in the near future (like by 2015 or sooner - TOTAL COLLAPSE), but it seems to me that everyone is talking about having a stronger currency (Japan, Switzerland, Australia, etc.). Yet, all of them are engaging in protectionist currency policies that ultimarely lead to devaluation.
So, yes, the dollar will collapse eventually, and probably sooner than my 2015 time frame. But, what happens if the USD collapses, along with the JPY, Euro, GBP, CHK and all the rest of the major currencies?
Most people seem to look at the USD in relation to the dollar index, which itself is a totally BS way to value the USD, since all of the other currencies are losing buying power for basic goods.
The only way to value the TRUE/REAL value of the dollar, or any other currency for that matter, is to value it against GOLD. (Maybe another commodity would work, but gold seems like a good example since it has a history as money for the last 5,000+ years).
What good is it to exchange dollars for Euro or British Pounds if all of them collapse in terms of buying power?
It seems to me that Cash is King — but only if it has a density of 19.32 grams/cm3.
October 8th, 2009 at 7:36 pm
All kinds of shennanigans going on.
Like, Asia Steps in to Support Dollar:
Asian central banks intervened heavily in the currency markets on Thursday to stem the appreciation of their currencies against the US dollar amid fears that their exports could be losing ground against China.
The mainly south-east Asian countries have been spurred to defend the competitiveness of their currencies by China’s decision to in effect re-peg the renminbi to the dollar since July last year.
Nonetheless, in the long run, the dollar is toast.
October 9th, 2009 at 11:22 pm
What it really comes down to is this: In the financial markets, no one knows what is going to happen. There are more failed predictions in finance than in religion.
October 10th, 2009 at 8:41 am
I would not say “no one knows”..a few analysts saw this meltdown coming (Celente) and common sense tells one it is not going to get better using money printing as a solution..I converted to all money market funds in April 08 and saved a ton..there is NO free lunch and the US economy will never recover until it starts becoming truly productive again
October 14th, 2009 at 9:00 am
[...] Gerald Celente: It’s more than just the demise of the dollar. This is going to be felt worldwide (… [...]
October 18th, 2009 at 10:12 pm
While I’m not a bull on the dollar, the real problem is that peolle have to pick another nation to feel comfortable with it keeping it’s democracy and sound policies. Given that inside of 10 year we will surely see church burnings in Eurasia by the Muslim hord, do you want your money in a baasket of Shaaria investements? Think that’s a haarsh statement? There are already Sharia sanctioned investments in the US and let’s remember that banks, to raise cash, sold large portions of stocks that the people of the religion of peace. So, where are you going to go? Gold seems sensible, and while it may well drop in price, its vaalue as a store of relative wealth would seem to be assured.
JR