Gerald Celente - Crash to Happen *THIS* Month

[Calz]

Alarmist title???

Crash *should* have happened long ago but various smoke n mirror band aids have kept the illusion alive.

Bring it on ... about damn time I say. :boxing:

I like Celente ... honest man (forgive any religious tone from host - skip 1st 5 1/2 minutes to Gerald if that bothers you).


Tuesday, October 4, 2011Gerald Celente : The Crash will happen sometime this Month
Gerald Celente - TruNews - 03 October 2011 : ...and people are buying this , so to answer your question Rick , how long could they keep us from realizing what's going on ? for as long as they keep pulling the strings and they will pull the strings for as long as they can , but someday it is going to come crashing down and we believe the crash is going to happen sometimes this month

OPD-cWW2ks8

http://networkedblogs.com/nYjqk?a=share&ref=nf

[Lettherebelight]

Thanks for posting this, Calz. I like Gerald Celente too. Tells it like it is.

Not everyone in the world of Finance are greedy thieves. Along with many honest traders, I also like to listen to Karl Denninger at his 'The Market Ticker' site. Good stuff from someone on the inside.
http://market-ticker.org/akcs-www?blog=Market-Ticker

The good thing about all this is that things like houses might actually become affordable again.

[Calz]

I traded futures on a part time "hobbyist" basis for many years.

I agree many honest people have been taken by the illusion that the system is providing a hedging or insurance of sorts. That goes back to the beginnings when corn, wheat and other farm/weather related issues had a legitimate concern.

That said ... Celente calls it 100% correct IMHO that what is going on is little more than a giant ponzi scheme and the last on board will suffer the consequences.

I have *never* in my life expected anything from social security. I started cashing out my 401K stuff over a decade ago.

No one should place *any* value in paper except for the moment ... when it can still purchase food or other tangible physical things that will contribute to your family's immediate welfare.

Simply my own opinion ... fwiw

[Soul Safari]

The good thing about all this is that things like houses might actually become affordable again.[/QUOTE]

That was going to be my next question..

Amongst all this financial muddle, is it a good/wise time to buy a house?

For the 1st time in my life (34 years) and after missing the boat years back im actually pretty close to getting my own home.

Anybody with some sound advice please let me know..

[Lettherebelight]

Here's the Tickerguy with Karl Ratigan...

http://www.msnbc.msn.com/id/31510813/#44777334

I would hold off on buying a house for at least 6 months. Now land, that's always a good investment. You can build the house after the crash, it'll cost you a lot less...

[Calz]

I would never give advice on home/land ownership at this time. Many countries ... many laws ... many outcomes.

Close as I could come to "advice" would be out of debt, mobile, and self sufficient. Vague I know ... but as close as honest to the times as I can offer.

To the rest ... the bigger your "nest egg" the bigger the "target".

IMHO

[humanalien]

Does anyone think that now would be a good time to
take all of your savings out of the bank?

[Calz]

Does anyone think that now would be a good time to
take all of your savings out of the bank?

I would not take *all* out as you need that for day to day living as long as the "system" lives.

Put what you can into physical commodities that your family will need to survive ... then *relax*. Don't give into fear.

The PTB/W are the ones to fear as they have the most to lose.

Make sure you can maintain over the "bump" between the old system and whatever follows.

Aside from that ... look inside.

[Calz]

From those Jolly Jokers at the IMF.

No doubt their "solution" to hold off collapse means loan shark rate loans to all nations ...



October 7, 2011

IMF advisor: 'In The Absence Of A Credible Plan We Will Have A Global Financial Meltdown In Two To Three Weeks'

Rick Moran
If this statement had come from some hedge fund flunkie or cable business news jock, it could safely be dismissed as an attempt to get attention and ratings.

Instead, it comes from bail out expert Robert Shapiro who works as an advisor to the International Monetary Fund. Shapiro, according to Business Insider, is no financial gadfly:

Aside from being an advisor to the IMF, Shapiro is the co-founder and chairman of Sonecon, LLC, and was formerly the U.S. Undersecretary of Commerce. He has a Ph.D. from Harvard, among other degrees, oversaw the Census Bureau, and has been a Fellow at Harvard, Brookings, and the National Bureau of Economic Research.

If you've been reading a lot of business news from Europe lately, you have probably learned to read between the lines of what officials the European Central Bank, principles in government, and other experts have been hinting at. And that is, we are heading for a major league meltdown unless the euro states can come up with a plan to settle the Greek default situation, recapitalize big banks who are hanging by a thread at this point, and find a way to refinance the debt of Italy, and Spain.

Zero Hedge blog:

A week after the BBC exploded Alessio Rastani to the stage, it has just done it all over again. In an interview with IMF advisor Robert Shapiro, the bailout expert has pretty much said what, once again, is on everyone's mind: "If they can not address [the financial crisis] in a credible way I believe within perhaps 2 to 3 weeks we will have a meltdown in sovereign debt which will produce a meltdown across the European banking system. We are not just talking about a relatively small Belgian bank, we are talking about the largest banks in the world, the largest banks in Germany, the largest banks in France, that will spread to the United Kingdom, it will spread everywhere because the global financial system is so interconnected. All those banks are counterparties to every significant bank in the United States, and in Britain, and in Japan, and around the world. This would be a crisis that would be in my view more serrious than the crisis in 2008.... What we don't know the state of credit default swaps held by banks against sovereign debt and against European banks, nor do we know the state of CDS held by British banks, nor are we certain of how certain the exposure of British banks is to the Ireland sovereign debt problems."

But no, Morgan Stanley does, or so they swear an unlimited number of times each day. And they say not to worry about anything because, you see, it is not like they have any upside in telling anyone the truth. Which is why for everyone hung up on the latest rumor of a plan about a plan about a plan spread by a newspaper whose very viability is tied in with that of the banks that pay for its advertising revenue, we have one thing to ask: "show us the actual plan please." Because it is easy to say "recapitalize" this, and "bad bank" that. In practice, it is next to impossible. So yes, ladies and gentlemen, enjoy this brief relief rally driven by the fact that China is offline for the week and that the persistent source of overnight selling on Chinese "hard/crash landing" concerns has been gone simply due to an extended national holiday. Well, that holiday is coming to an end.

Bottom line: Governments are scared. A whiff of panic is seeping into markets which is preventing banks from lending to each other -- exactly what happened after the Lehman Brothers fall in the US in 2008. The ECB has taken to giving out short term loans to the big banks so that they can stay afloat because they are scared to carry on the normal inter-bank lending due to uncertainty about whether those loans would ever be paid back. This is exactly what the Fed did in 2008.

The Washington Post explains that there is now a high stakes game of chicken going on between the European Central Bank and member nations:

Although everyone acknowledges it would be preferable for democratically elected leaders to make the moves toward economic unity that are the most promising solution for the crisis, it would be much more politically convenient for politicians if the unelected technocrats at the ECB would take those steps and become the channel through which Europe's losses are realized.

Somebody is going to have to blink.

The ECB's efforts to hold the line were evident Thursday as it declined to cut interest rates to try to address a weakening European economy. By contrast, the Bank of England expanded a program of buying bonds to try to push money into the British economy, a move known as quantitative easing. The bank on Thursday announced 75 billion pounds in new purchases. (Two weeks ago the Federal Reserve also eased monetary policy in the United States, further illustrating the deep concern within the U.S. and European central banks about the economy.)

"The economic outlook remains subject to particularly high uncertainty and intensified downside risks," ECB President Jean-Claude Trichet said Thursday, raising the possibility that the ECB will ease monetary policy sometime in the near future.

My colleague at PJ Media, David Goldman (aka Spengler) thinks that any meltdown in Europe won't affect us in America that much:

That is what keeps the market in a state of near-panic. There is no way to align the players for a solution except by pushing the situation to, and perhaps over, the brink. To put the Italian (let alone the Greek) political class into receivership, it may require actual, national receivership: banks shut their doors, pension checks aren't mailed, oil refiners close, tankers are turned back at the ports for lack of cash. I do not think any such thing will occur. Nor do I think that an Italian national bankruptcy will mean much for the world economy.

Remember that two thirds of the world's population (China, India, peripheral Asia, Latin America) is still enjoying strong economic growth. The U.S. economy is weak but not crashing. Europe is a big chunk of the world's GDP, and it is crashing, but its importance is diminishing by the year. It's not the end of the world; it's just the end of the Europeans.

I sincerely hope he's right. Greece will not be able to pay its government workers in 2 weeks and will need another slice of the bail out money already agreed to. To get it, they have to pass inspection from the IMF and their euro creditors. The chances of Greece not getting that money, regardless of their adherence to the bail out plan, are slim and none so it would appear that we are probably safe - for the moment.

http://www.americanthinker.com/blog/2011/10/imf_advisor_in_the_absence_of_a_credible_plan_we_will_have_a_global_financial_meltdown_in_two_to_thr .html

[jcocks]

Three words : Bring it on! I'm ready - let's cut the bull**** and get on with this... ;)

[Eric J (Viking)]

Yep I agree ... totally fed up with this pathetic orchestrated reality ... just bring it on ...

viking