GERALD CELENTE: The Financial Collapse Of 2013 Will Be Worse Than The Great Depression

TBI - KWN ^ | 12-23-2012 | Sam Ro

[blam]

GERALD CELENTE: The Financial Collapse Of 2013 Will Be Worse Than The Great Depression

Sam Ro
Dec. 23, 2012, 5:07 AM

Forget the Mayan Apocalypse.

Gerald Celente, the popular trends forecaster of Trends Research, cites the work of a former Treasury official and warns that the bonds are in a massive bubble that will burst in 2013 in what will be a financial collapse like nothing we've seen before.

He recently spoke about it in an interview with King World News:

This piece is being penned by Dr. Paul Craig Roberts, the former Assistant Treasury Secretary under Ronald Reagan. And he is convinced that the bond bubble is about to burst. This cannot continue to go on the way it is. Everyone knows that the whole game is rigged, and so is this....

The whole game is rigged. It’s ready to go down, and Dr. Paul Craig Roberts believes it’s ‘Bonds Away’ in 2013 as the bond bubble explodes and brings about a financial disaster even worse than the Great Depression. ... Because the whole world is being propped up by these phony bonds and it’s going to collapse. It has to happen. Interest rates are going to start going up, and when they do the bond bubble explodes. You cannot keep interest rates at zero for this amount of time and expect anything other than disaster to follow.

Speaking of the the recent sell-off in gold prices, Celente is convinced that the metals market is being manipulated.

Read more at KingWorldNews.com.

[Capt. Tom]

I like Gerald but I’m still waiting for the crash/depression he predicted for 2012

We also missed the predicted lack of food riots.
But we did get to see the unforecasted air Jordan sneaker buying riots. -Tom

[Cringing Negativism Network]

100% correct.

What we need to do now, is start responding.

We are still operating under the old assumptions. Those are broke. Our national trade balance has been negative for quite a while, and is wildly growing with China.

We need to make Chinese trade practices an issue.

A big issue.

Either China opens its markets, and incidentally its own immigration policies which are among the most restrictive on the entire planet.

Or we shut them down.

This has gone on far too long, and we need America back.

America first.

[Capt. Tom]

Celente doesn't take his own advice of taking physical possession of your gold seriously.
He left his paid for gold in the possession of MF Global.

Infowars.com -The recent bankruptcy of financial stalwart and Wall Street casino failure MF Global in the US, has claimed a new and unlikely victim. Following the company’s glorious collapse, Trends Research founder Gerald Celente had his own six figure gold investment account completely looted by chapter 11 trustees, and he is fighting to get it back.
-Tom

[St_Thomas_Aquinas]

We face a 20-50 year trough. The only question in my mind is how deep it will be. We’re past the tipping point.

[SamAdams76]

I've been hearing these doom and gloom "crash greater than the Great Depression" proclamations for years...decades in fact. I guess I've gotten kind of cynical over the years whenever I hear about the "bubble bursting" and "economic meltdown".

Here is some anecdotal evidence to the contrary. As I type this, the shopping malls all across America are absolutely slammed with shoppers. You can't even park near the place. This in spite of the fact that billions upon billions of dollars in goods are being ordered online. The past few days, I've seen large numbers of brown UPS trucks hurtling through my neighborhood, frantically delivering brown boxes from Amazon.com full of Kindles, tablets, flat screen TVs and whatnot.

Just try getting a table at a casual dining restaurant around here. Friday night, we went to Chilis, British Beer Company, Olive Garden, Outback, and even the Applebees (which I hate) and all of them were utterly slammed with an hour or more wait for a table. We went home to heat up a chicken pot pie.

Even the folks on welfare (and there are lots of them) are living high on the hog, buying shrimp, sirloin steak and geese with their food stamps and enjoying entire days of leisure in front of their big screen TVs, gameboys, Segas and what not while the remaining few of us slog off to work to pay for it all. If the economy is in trouble, I sure wish we could eliminate welfare because there sure are a lot of lazy layabouts that need a good swift kick in the butt.

Maybe the economy will still crash in 2013 but there are certainly no signs of it in the waning days of 2012.

[SomeCallMeTim]

Do you by any chance have a link that might also show the slides he was showing?

THANKS! Excellent video.

[adorno]

Interest rates are going to start going up, and when they do the bond bubble explodes.

I don't see where the problem is.

If interest rates do go up, there will be an overabundance of money to pay for that interest. We can borrow a lot more from the Chinese and others who wish to purchase more bonds, or we can print the money in order to pay the interest.

Bond holders in this market aren't aware that, they're part of a ponzi-scheme. But, they'll be content to get their interest when the times comes to cash in, even if it's phony money. As long as people are willing to accept a diminished dollar as payment currency, then, no recession or depression. Just a devalued economy with lots of poor people living off the government, and a "working" class getting by on part time work and free stuff, and fewer rich people trying to keep their stuff.

[rbg81]

Sadly, no—the video is all I have access to.

[steve86]

Maybe the economy will still crash in 2013 but there are certainly no signs of it in the waning days of 2012.

Everyone livin' big, happy and carefree -- few signs of trouble ahead -- can't get a table at a fancy restaurant -- sounds like the 1920s. Permanent plateau of prosperity and a floor under the stock market. There was one guy warning it wouldn't last -- he was ridiculed and pilloried.

[crusher]

Well, not everything. The USA is still the largest manufacturing economy in the world, we just don’t employ as many people in the manufacturing sector as we used to.

[Jack Hydrazine]

This story could be related...

Startling Evidence That Central Banks And Wall Street Insiders Are Rapidly Preparing For Something BIG

http://www.shtfplan.com/headline-news/startling-evidence-that-central-banks-and-wall-street-insiders-are-rapidly-preparing-for-something-big_08172012

[tbw2]

There is plenty of work to do. From cleaning up inner cities to rebuilding infrastructure to taking care of the elderly, there is work. The problem is that we’re blowing money on administration, bureaucracy, wasteful “green” projects and feel good projects instead of what is needed.
And many of those who are not needed to MAKE things can certainly work recycling the junk we have, growing their own food, rebuilding their communities, etc.

[SkyPilot]

Nice video trailer of the zombie movie, although Brad Pitt is a big liberal and atheist, so he isn't a good Apocalyptic hero.

Moreover, it looks like the US military plays a big role as Savior in the video. Not possible in reality, as the DoD is about to be decimated in January due to Sequestration, so that all obese Americans can continue to receive "their" entitlement check.

[palmer]

...leisure in front of their big screen TVs, gameboys, Segas and what not while the remaining few of us slog off to work to....

Gameboy and Sega are 8 bit systems. You may not have realized that since you slog off to work every day. The leisure parasite class probably mostly have one or more of: xbox, playstation or wii. See http://en.wikipedia.org/wiki/Comparison_of_console_controllers

[Hotlanta Mike]

Just what Obama ordered...the Mayans may have been misguided but the Preppers certainly aren’t.

[Hotlanta Mike]

Just what Obama ordered...the Mayans may have been misguided but the Preppers certainly aren’t.

[classified]

Celente refers to the Libor scandal? I thought that suit was fictitious?

[RegulatorCountry]

There is a scandal, international in scope, involving rate fixing on LIBOR. It’s huge, astounding amounts of money involved. Many variable rate mortgages in this country were and are tied to LIBOR, the London Interbank Offered Rate.

The fictitious aspect is that there is a trial ongoing in the United States to which Peter Lanza or any other figure has been called to testify.

[classified]

Thanks!

[jpsb]

IMHO the collapse is happening at this very moment. It is a slow moving train wreck. All I know is everyday it gets harder to pay the bills, everyone I know is struggling and theft is up, big time. I am watching a slow descent which likely will take a few years before we (middle class, working class) are all starving in the dark.