Celente – Code Red ! Economy in Collapse !

Ron Paul – Destruction of the Dollar

• Gerald Celente, renown forecaster, is sending out a Code Red about the US economy and thus dire times for world economy. Celente’s Trend Research Institue says in CODE RED - Economy in Collapse 
  Drastic Actions Will Be Taken :
     
  22 January 2009 — President Barack Obama will use his poll shattering popularity to swiftly enact policies that will prove to be among the most costly and potentially destructive in America’s history, predicts Trends Research Institute Director Gerald Celente.
   
  “We are forecasting dramatic measures will soon be taken by the Obama Administration that will worsen the credit crisis and severely damage the nation’s economic system,” says Celente. 
   
  According to The Trends Research Institute Director, the new President who swept into the White House on a tidal wave of unprecedented enthusiasm and the blessings of a strong majority, will have free reign to take whatever actions he deems necessary. 
   
  “Whatever Obama wants, Obama gets. Desperate, scared and not knowing what to do to survive the economic storm, people are seeking a messiah to save them, and Obama is their man,” said Celente. “When fear rules, reason and logic are ruled out.” (According to an AP poll, 71 percent of Americans believe the economy will improve during the first year of the Obama presidency.)
   
  The 332-point stock market decline that greeted Mr. Obama into office (a record breaker for Inauguration Day) and today’s 105-point market decline will be followed by a steady stream of worsening economic news and major financial calamities, Gerald Celente forecasts. Just as President Bush exploited 9/11 as a pretext to wage the War on Terror, invade Iraq, abrogate the Constitution and exert broad Executive powers (with bipartisan and majority public support), President Obama will be given even greater latitude to fight a war on economic terror, predicts Celente. 
   
  For example, Timothy Geithner, President Obama’s nominee for Treasury Secretary, has pledged to expand and prolong government intervention in the financial markets. He said his economic team would take “forceful” and “substantial action” on a “very dramatic scale” to “forge an integrated strategy on how best to achieve currency realignment.”
   
  Celente advises to closely read the signals that have been clearly telegraphed by Mr. Geithner. “From proclaiming a bank holiday, confiscating gold to backstop devaluing currencies, mega-bailouts for the too-big-to-fails … to nationalizing public firms and dollar devaluation … whichever of these or other actions are taken, the financial burden will fall on the American people,” Celente forecasts.
      
• Ron Paul commented : “Bailout is the disease ! It’s contagious..and the result of this is the destruction of the dollar, run away inflation and political chaos! “
   
• Rumor going round is : “Some sort of New Currency. Some sort of Gold Standard.” . Is Bernanke talking with BIS in Basel Switzerland about this? Will we see a new financial order base on a Gold Backed currency?

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