My friends, this is not the raving of a lunatic. Gerald Celente is a veteran trends forecaster and author. He has appeared on too many TV shows to count. I’ve put some of the info from his web site to the right so you will know he is respected in his field.
Read this carefully and reflect.
RHINEBECK, NY 9/29/2008 By Gerald Celente
The Greatest Depression has begun. Conditions will drastically deteriorate. We urge you to consider taking proactive and protective measures to secure your future before it’s too late.
The “Panic of ’08” that has gripped the financial markets is but one symptom of a much greater crisis. Empire America is collapsing. The crash is under way. Those in denial refuse to see it. Others pin their hopes on politicians, bankers and brokers to miraculously repair the irreparable.
There is no denying the economic facts and figures. While there is no turning back, there will be short-term respites. Use them wisely.
Every day the news is more dire than the day before. And it’s not only America that is crashing. As the giant falls, the earth trembles. Economic chaos, social upheaval, political strife… global markets are melting down. There are runs on banks. Wars, hot and cold; rage and simmer. The proof is everywhere.
Too Big to Drown
In America, political insiders and the economic high and mighty know the ship is sinking. As they ready the lifeboats to save themselves, they keep assuring the worried masses they know what to do to keep the ship of state afloat.
Do you believe the captain? Do you believe the crew? These are the people that ignored the warning signals and willfully charted the course toward destruction. Are they going to save you? Us?
Will Washington put your interests above their special interests? Who do you look up to with a greater mind than yours? Bush, Paulson, Bernanke, McCain, Obama, Dodd, Reid, Pelosi, Frank, Laurel, Hardy?
By their deeds you shall know them. They are committed to saving the “too-big-to-fails” while leaving the “too-small-to-save” to save themselves.
Know where the exits are. Make sure you can find your way to the lifeboats. Understand that at a certain point, the hatches will be closed, and under the “rules” of government, only first class passengers will have guaranteed seats.
The pillars of America’s financial system were destroyed when the Twin Towers were toppled on 9/11.
The foundation of America’s free market capitalism were destroyed when an Economic 9/11 took out Merrill Lynch, Lehman Brothers and A.I.G…. the world’s largest investment banks, brokerages and insurance companies. Yet, despite the deafening sound, when the biggest bank failure in US history happened several days later, it barely made the headlines that Washington Mutual, with 2,300 branches and $310 billion of assets, had gone under.
As we write this, Wachovia, the sixth largest bank in the US, is being gobbled up by the imperiled Citigroup.
Do you need more proof?
Today the Dow plunged 778 points.
We are facing a crisis of unparalleled proportions. You must also rely on your own wits and good judgment. No one will save you but yourself.
◊◊◊◊ Now: Gold @ $872.90, Silver @ $12.03, USDX @ 79.22 ◊◊◊◊
◊◊◊◊ Now: DJIA 10,850.66
Filed under: Markets & Economy, Mayhem | Tagged: Gerald Celente | 8 Comments »