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To: wideminded

You said:
Perhaps some of what Celente says will come true. But isn’t he largely a legend in his own mind? What is the real evidence that he accurately and specifically made all these predictions? If he has been so good at predicting, over such a long period of time, why isn’t he richer than Warren Buffet?

Thought I’d post this UPI article from November 2007:
http://www.upi.com/Business_News/2007/11/19/Forecast_US_dollar_could_plunge_90_pct/UPI-48761195499806/

RHINEBECK, N.Y., Nov. 19 (UPI) — A financial crisis will likely send the U.S. dollar into a free fall of as much as 90 percent and gold soaring to $2,000 an ounce, a trends researcher said.

“We are going to see economic times the likes of which no living person has seen,” Trends Research Institute Director Gerald Celente said, forecasting a “Panic of 2008.”

“The bigger they are, the harder they’ll fall,” he said in an interview with New York’s Hudson Valley Business Journal.

Celente — who forecast the subprime mortgage financial crisis and the dollar’s decline a year ago and gold’s current rise in May — told the newspaper the subprime mortgage meltdown was just the first “small, high-risk segment of the market” to collapse.

Derivative dealers, hedge funds, buyout firms and other market players will also unravel, he said.

Massive corporate losses, such as those recently posted by Citigroup Inc. (NYSE:C) and General Motors Corp. (NYSE:GM), will also be fairly common “for some time to come,” he said.

He said he would not “be surprised if giants tumble to their deaths,” Celente said.

The Panic of 2008 will lead to a lower U.S. standard of living, he said.

A result will be a drop in holiday spending a year from now, followed by a permanent end of the “retail holiday frenzy” that has driven the U.S. economy since the 1940s, he said.


He had 2008 pegged a lot better than I did.


56 posted on 11/24/2008 10:34:19 PM PST by Michael Eden
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To: Michael Eden

He (and Schiff) were off on gold, but that one isn’t done playing out. It appears to be being manipulated. That is, there seems to be a shortage of gold, and yet the price is down, significantly?!

Then again, it gained around $115 an ounce in about a week. Maybe the $2,000 prediction isn’t so far off as we may think right this minute.


86 posted on 11/25/2008 1:24:54 PM PST by RobRoy (Islam is a greater threat to the world today than Nazism was in the 1930's.)
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