Trends Journal trend forecaster Gerald Celente on KFI AM’s John and Ken Show November 24, 2009.
“Wall Street’s being fueled by speculative money, because of historically low interest rates that the Federal Reserve is pumping into their friend’s pockets. It’s as simple as that. Anybody that’s playing Wall Street, try your luck at Las Vegas. You have a better shot at winning.
The markets are going to go down. We’re going into the Greatest Depression. Current events form future trends.
Look what’s going on with gold prices. One thousand one hundred sixty dollars an ounce. The dollar now has lost 16% since the beginning of the year from the major currencies. The whole world is betting against the United States.
They all know the game. You can’t keep printing money.”
The long-term outlook is certainly grim, and holding dollar assets will cause devastation for those who don’t get out soon. But, as Mr. Celente has suggested, Wall Street is a casino, so we will see ups and downs in the near term similar to what one may see at a roullete table. The dollar may very well rebound in the near term as we discussed in Why Gold Can Still Go Down, but the only thing any pullbacks/corrections in gold should be used for is to acquire more of the precious metal.
“They cannot keep doing this anymore. They’re trapped. Here’s what we’re afraid of. They’re beholden by their failures. The bigger the failure, the bigger the risk that they take. When all else fails, you know what they do? They take you to war. And that’s what we’re afraid of.”
Gerald Celente echoes Marc Faber’s recent warning that the Financial Bust Will Lead to War. Don’t believe it can happen? Read a little history, especially from a cyclical analyst like Martin Armstrong, and a cyclical pattern will emerge, where countries that experience economic collapse often go to war to divert blame from the politicians in charge.
This is perfect empire decline. You don’t even have to go back to the Romans. Just go back to the English. You wanna fight wars in foreign countries and deplete the treasury at a tune of what, already a Trillion dollar budget every year, plus, plus, plus? So the money isn’t being allocated for us to expand in a way that would get us out of this.
It’s [Healthcare] going to spiral us into more debt. How can any thinking adult put any of their faith in any of the government policies. Show me one thing that they’ve done so brilliantly.
To fix the economic crisis, our leaders in Washington have decided to counter the problem of mismanaged spending with even more spending and debt. Does this sound like a viable solution to our problems?