Trends Research economist Gerald Celente and Stephen Moore, author of “The End of Prosperity,” discuss worst-case scenarios on the Glenn Beck show.
Former Arkansas Senator William Fulbright: We must dare to think about the unthinkable things, because when things become unthinkable, thinking stops and actions become mindless.
Glenn Back: What is life like in 2014?
Celente: New York city looks like Mexico city. If you have money or they think you’re going to have money, you’re going to be a target for kidnapping.
We’re going to see major cities look like Calcutta. there’s going to be the homeless, panhandlers, hookers, petty thieves.
It’s going to be serious.
Moore: We became (by 2014) consumed by debt, runaway government spending, a credit rating that’s just been crushed by the overwhelming amount of debt and taxation.
We’ve seen this happen to other countries. We’ve seen this happen to Mexico, Bolivia, Argentina, Zimbabwe, Russia – all consumed by government.
Why couldn’t this same scenario unfold in the USA? And if it does, what will you do to protect yourself and your family?
Celente: Look what’s going on with gold. It topped overÂ $1000 an ounce today. We’ve been predicting this for a long time. By 2015, you’re going to see gold at $8000 an ounce. Why do people buy gold?
Because the paper money doesn’t mean anything. You can’t print cheap money based on nothing.
Beck: What is worth something?
Celente: I’m right on the same page. We’re creating a scenario for the future that’s happening in the present. that’s what tracking trends is – a way of understanding where we are, seeing how we got here, and looking where we’re going. This is unprecedented.
It’s been repeated over and over, especially by doom and gloom forecasters like Gerald Celete, Peter Schiff, Marc Faber and Jim Rogers. When the SHTF, gold and silver will be the only investment that can preserve your wealth.
Glenn Beck: What happens to the people when you start taxing [to pay off all of our current spending]?
Gerald Celente: Tax Revolts. We all heard it on CNBC yesterday. This is going to be violent, people can’t afford it anymore. Look, cities are going to be like Dodge City. They’re going to be unctrollable. You’re not going to have enough police to control the situation.