Gerald Celente explains: Obamageddon forecast amid call for The Great American Renaissance
October 8, 2009
Since 1980, Celente has made at least 40 accurate predictions about major world events. In 1986, he forewarned of a major global stock market crash, which occurred the very next year, and is now commonly known as Black Monday. Throughout the 1990’s, many other forecasts came true, including the collapse of the Soviet Union, surges in global terrorism, the popularity of spiritual and new age philosophies, public backlash against globalization, upsurges in online shopping, and the 1997 Asian financial crisis, to name a select few.
In the new millennium, predictions-turned-real are the correction of the dot-com bubble, the 2001 recession, emerging bull markets for gold, the rise of alternative energy, the collapse of the heavily-inflated real estate bubble, and unsurprisingly, the ‘Economic 9/11’ that we are currently witnessing.
After thoroughly reviewing the recent summer edition of Trends Journal, I learned that Gerald is now forecasting “the greatest depression” for the rest of the world, while in the US, he believes we may experience “Obamageddon.” As the definition of this witty concoction is easily apparent, its implications are thoroughly conveyed within the opening paragraph:
Here we are in 2012. Food riots, tax protests, farmer rebellions, student revolts, squatter diggins, homeless uprisings, tent cities, ghost malls, general strikes, bossnappings, kidnappings, industrial saboteurs, gang warfare, mob rule, terror.
Like many, Gerald is disturbed by our government’s record-breaking creation of new fiat dollars – Federal Reserve Notes – that are literally produced “out of thin air” on behalf of a quasi-public corporation known as the Federal Reserve. These worthless pieces of paper are not backed by any commodity, such as gold or silver, even though the US Constitution mandates their use as tender in the payment of debts. As this happens, a bailout bubble is being created, and when the “monster explodes” there will be dire consequences for all of humanity.
Many other economists, including Peter Schiff – who will hopefully unseat the pretentiously-corrupt Senator Christopher Dodd in 2010 – have joined Gerald in forecasting a massive devaluation of the US dollar. Just last week, Schiff posted an entry on his blog under the aptly-titled heading “The US Dollar is the New Peso,” wherein he notes “the dollar is going to fall sharply.” In 1994, the Mexican peso crisis led to the sudden devaluation of that nation’s currency; furthermore, as events unfolded, there was widespread political violence among citizens. Mexico also experienced hyperinflation, which causes sharp increases in consumer prices, and the rapid loss of currency value. Celente believes “we risk” hyperinflation here in America.
Believe it or not, there is actually some good news: you can protect your savings by purchasing physical gold and silver assets, but interested parties should execute such transactions without delay. Recently, China advised its 1.3+ billion citizens, for their financial security, mind you, to purchase these commodities. The IMF has also announced it will be selling one-eighth (403.3 metric tons) of its gold holdings, which many nations are reportedly seeking to acquire; concurrently, there are rumors swirling that Middle Eastern nations, in tandem with China, France, Japan and Russia, plan to abandon the use of our dollar in oil trading. These developments have caused a surge in the demand for gold, as it is an obvious safe haven against the floundering dollar; accordingly, gold has now surged to record-breaking highs, just under $1050 an ounce as of press time. Celente is forecasting the price will double from where it stands today, while Schiff believes it may hit $5000 an ounce over the next few years. In either scenario, these massive value increases will generate a hefty ROI for savvy individuals.
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