Gold Rush In China Is Pushing The Prices To Record Highs!

Max Keiser: Financial Terrorism! Wall Street Fraud ! Jim Rogers: Unfortunately For Governments, The Market Will Win And It Always Does!

Ex-Bundesbank Chief Says Greece Will Never Repay Debt, Says Bailout All About “Rescuing Banks And Rich Greeks”! The Greek People are the Victims of a Carefully Engineered Financial Extortion Racket!

• The truth is coming out. Much like Americans were raped in October 2008, the banksters are ‘raping’ the Greeks. What was the bailout of AIG to the tune of US$183B about? Giving money to the banksters! This is fact not allegation!
   
  Ex-Bundesbank Chief Says Greece Will Never Repay Debt, Says Bailout All About “Rescuing Banks And Rich Greeks”
  Finally someone speaks the truth. In an interview with Spiegel Magazine, former Bundesbank chief Karl Otto Pohl, says it how it is: “Without a “haircut,” a partial debt waiver, [Greece] cannot and will not ever [repay its debt]. …. The European Union should have declared half a year ago — or even earlier — that Greek debt needed restructuring.”
   
  As for the reason for the bailout, Pohl’s observation will not be a surprise to our readers “It was about protecting German banks, but especially the French banks, from debt write offs.” Is there any hope for Europe now? It appears no, as the right decision was to let Greece go bankrupt: “Investors would quickly have seen that Greece could get a handle on its debt problems. And for that reason, trust would quickly have been restored. But that moment has passed. Now we have this mess.“
   
  Amusingly, when asked if banks used “speculators” as a straw man to break all EU Rules and especially the Lisbon treaty:”Of course that’s possible. In fact, it’s even plausible.” We can’t wait until the German population realizes just how massively it has been scammed. Last week’s Nordrhein-Westphalia Merkel loss will seem like a walk in the park once the mobilized German society decides to fix things on its own.  Oh, and look for the EU and the euro to be a thing of the past.
   
  The Greek People are the Victims of a Carefully Engineered Financial Extortion Racket
  What is happening in Greece concerns all of us. The people are paying for a crisis and a debt that are not their own. Today it is the Greeks, tomorrow it will be others, for the same causes will produce the same effects if we allow it.
    …..
  Background to the Crisis
  The Greek debt crisis is the third tier of a more global crisis that began in the summer of 2008 in the United States. The financial speculation engaged in by the major western banks led the world to the brink of the abyss and plunged the economy into recession. Escalating unemployment, flagging incomes and purchasing power are the principal consequences. Governments have saved this financial capitalism, resuscitated the banks, relaunched capitalism with hundreds of billions of Euros and dollars, thereby causing an explosion in debts and deficits and putting the more fragile states such as Greece in a difficult position.
   
  Now the markets, having digested the crisis, are attacking government debts and speculating on the future of the weakest. What an exemplary lesson on the amorality of a system that is able, in one year, to survive thanks to the IV [intravenous] drip of the state and then to plunge the state itself into a speculative punishment. A speculation that is now embarking on an assault on Spain, while awaiting further victims.

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Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year!

• I do not know what will happen to the stock market when hyper-inflation kicks in. Many are of the opinion that investors will flee currencies and buy stocks, as a proxy to hard asset. This will drive the DJIA to as high as 20,000 to 30,000. Not implausible. But adjusted for the depreciating currencies you may end up losing. Coupled with collapsing economies, business and thus profits, it will not be possible to correctly value stocks.
   
• The opposite view is proposed by Richard Russell, the market will collapse towards the 1000-2000 level. It is a fool who does not read Russell’s warning!
    
  Richard Russell, the famous writer of the Dow Theory Letters, has a chilling line in today’s note:
   
  Do your friends a favor. Tell them to “batten down the hatches” because there’s a HARD RAIN coming. Tell them to get out of debt and sell anything they can sell (and don’t need) in order to get liquid. Tell them that Richard Russell says that by the end of this year they won’t recognize the country. They’ll retort, “How the dickens does Russell know — who told him?” Tell them the stock market told him.
   
  That’s pretty intense! Update: By popular demand, here’s more on what he sees in the market. The gist is that the markets recent gyrations are telling him that the economy is in trouble:
   
  And I ask myself, “Am I seeing things? The April 26 high for the Dow
  was 11205.03. The Dow is selling as write at 10557 down 648 points
  from its April high. If business is even better than expected, then
  why is the Dow down over 600 points? And why, if there were 674 new highs on the NYSE on April 26, were there only 20 new highs on Friday, May 14? And if my PTI was 6133 on April 26, why is it down 17 points since its April high?
    
  The fact is that I’ve been seeing deterioration in the stock market ever since early-April, and this in the face of improving business news. The D-J Industrial Average is composed of 30 internationally known top-quality blue-chip stocks. These are 30 of “America’s biggest companies.” If Barron’s is so bullish on the future of America’s biggest companies, then why isn’t the Dow advancing to new highs?
   
  Clearly something is wrong. But what could it be? Much as I love Barron’s, I trust the stock market more. If I read the stock market
  correctly, it’s telling me that there is a surprise ahead. And that surprise will be a reversal to the downside for the economy, plus a collection of other troubles ahead.
   
  About Dow Theory — First, we saw the recent April highs in the
  Averages. Then we saw a plunge in both Averages to their May 7 lows — Industrials to 10380.43, Transports to 4298.12, next a short rally. If ahead, the two Averages turn down and violate their May 7 lows, that would be the clincher. Such action would signal the certain resumption of the primary bear market.
   
  Just as for years I asked, cajoled, insisted, threatened, demanded, that my subscribers buy gold, I am now insisting, demanding, begging
  my subscribers to get OUT of stocks (including C and BYD, but not
  including golds) and get into cash or gold (bullion if possible). If
  the two Averages violate their May 7 lows, I see a major crash as the
  outcome. Pul – leeze, get out of stocks now, and I don’t give a damn
  whether you have paper losses or paper profits!

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Roubini: Greek Crisis Is ‘Tip of Iceberg’ in Euro Region!

• Greece is but 2-3% of the Eurozone’s GDP. Not significant really. Behind the scenes, the bankster wolf packs are attacking nations with impunity and little regard for their fellow-man. These are nothing more than criminal thugs in Armani suits, financial terrorists. The attacks will continue with the rest of the PIIGS, then UK, Japan and finally an enormous detonation in the US.
    
  May 18 (Bloomberg) – The crisis engulfing the euro area is not over yet as Greece remains the “tip of an iceberg,” New York University professor Nouriel Roubini said. “It’s not over,” Roubini said in an interview with BBC radio broadcast today. “What we’re facing right now in the eurozone is a second stage of a typical financial crisis.”
   
  The European Union’s 750 billion-euro ($931 billion) rescue package to stop contagion from Greece hasn’t calmed the markets while questions remain about whether governments are strong enough to implement the austerity measures required, Roubini said. The European Union said today it has transferred the first instalment of emergency loans to Greece, one day before 8.5 billion euros of bonds come due.
   
  Markets remain concerned about the solvency of some European countries as there is “significant economic and financial trouble in the eurozone,” Roubini told the BBC’s “Today” program. The recent riots in Greece in response to fiscal cuts have fueled doubts about some European governments’ ability to solve these problems, he said.
   
  “There’s a question mark whether we can be confident the government is going to be strong enough to do the fiscal austerity,” Roubini said. “If these packages of austerity are going to be implemented markets are going to stabilize.”
   
  Roubini also said the U.K.’s new Conservative-Liberal Democrat coalition government has yet to be tested. The government will spell out how it plans to cut Britain’s record deficit in an emergency budget on June 22.
   
  “We’ll see when things are going to have to happen, when the tough decision is going to have to be made on revenues, on spending, whether that coalition is going to remain strong or not,” he said.

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Egon von Greyerz: Gold And Silver Will Be The Only Assets that Will Protect Investors Fully Against The Destruction of Money!

• Egon von Greyerz exhibits perspicuity in his writing rarely found in most modern writers. His articles are a great read. His reasoning is sound and makes boring economics enjoyable. I have said before and I will say again, remember the Golden Rule: ’Whoever has the gold makes the rules!’
   
  In 2002 we advised investors to put up to 50% of their liquid assets into gold when the price was $300. To us it was crystal clear that the mountain of debts and derivatives would never be repaid with normal money but would be inflated away by money printing and this is what is now happening. The media are now talking about a bubble in gold and comparing to the 1980 top at $850. Let us be very clear, although gold has gone up 5 times since the 1999 bottom at $250,  it is nowhere near its peak. Adjusted for real inflation (as per shadowstats.com) the 1980 gold peak in today’s prices corresponds to around $7,200 today. So gold could easily go up 6 times from the current price of $1,220 and still be within normal parameters.
    
  There are many factors that will contribute to gold’s rise from here (in addition to money printing):
   
  1. Gold production is going down.
  2. Neither Comex (the futures exchange), nor the bullion banks would be able to deliver more than a fraction of the physical gold for which they have outstanding commitments.
  3. Central banks and the IMF probably don’t hold even half of the 30,000 tons that they claim they have. Most likely, at least 15,000 tons (6 years gold production) have been sold to suppress the gold price.
  4. The precarious financial system will lead to a total distrust of paper gold including most of the ETFs which have no physical gold.
   
  The four factors above will lead to the most massive surge in the gold price. There will be nowhere near sufficient gold to satisfy demand at current prices. We had been expecting gold to start its acceleration in March 2010 and this is exactly what is happening. We expect the move to be relentless during most of this year with very few major corrections but with high volatility. Moves of $100 in one day could easily happen.
   
  So gold is likely to make a top in the next few years between $5,000 and $10,000. But if we get hyperinflation the price could go exponentially higher like in the Weimar Republic when gold reached DM 100 trillion per ounce in 1923. Will gold experience the same type of correction when is has peaked as happened after the 1980 peak? Probably not, because gold is likely to be a part of a new monetary system that will be created when the current one has collapsed.
   
  The table below illustrates the total destruction of paper money against gold in the last 100 years and shows how many ounces of gold that $1,000 bought at various times. In 1910, $1,000 bought 40 oz of gold at $25 per oz. Today in 2010, $1,000 buys 0.80 oz of gold at $1,230 per oz. This is a massive decline of 98% in the value of the dollar measured in real terms in the last 100 years. The next significant year is 1971 when Nixon abolished the convertibility of dollars to gold. It was this disastrous decision that opened the floodgates for the credit and money creation that we are experiencing currently. The dollar is down 97% since then. But even if we take more recent years, the purchasing power of the dollar measured in gold has declined catastrophically. Since the 1999 gold low, the dollar has declined by 80% against gold and since 2002 (when Matterhorn Asset Management recommended major gold investments) by 76%.

   

  Virtually all currencies show similar declines in value against gold in the last 100 years. This is the clearest evidence of governments and central banks defrauding their people of their hard earned money. Where will it end? It will end when the dollar and many other currencies reach their intrinsic value of ZERO. That time is not far away.

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Egon von Greyerz: We Have Crossed The Rubicon! The Next Leg of The Debt Crisis is Here! Things Will Get A Lot Worse!

• The world is heading very rapidly towards calamity. 2010 will be remembered for the rest of our lives as Armageddon 2010. Things are getting out of control. I do not have confidence. Even the PTB controllers have lost the reins to the world economy. We are all about to take a cliff dive together into who knows what?! Egon Von Greyerz makes a sound case that: We Are Doomed !
     
  ALEA IACTA EST – The Die Has Been Cast!
  Yes this is it! We have crossed the Rubicon and events in the world economy are now likely to unfold in a totally uncontrollable fashion. Clueless governments still don’t understand that it is their ruinous actions that have created a credit infested and bankrupt world. They will continue to prescribe the same remedy that caused the problem in the first place, namely more credit and more printed money. The consequences are clear; we will have hyperinflation, economic and human misery as well as social unrest.
   
  When will the world finally begin to understand that we have reached the point of no return and that “the voyage of their life is bound in shallows and in miseries” (Shakespeare, Julius Caesar).  Sadly, we are probably not very far from that point. It is already starting to happen in many countries.
   
  The latest EU and IMF package of $ 1 TRILLION (Euro 750 billion) is yet another futile attempt by governments to abolish poverty by printing paper. Let’s be absolutely clear, this money does not exist and the EU governments are hoping by declaring such a large amount that they can con the Wolfpack speculators. At this point the EU has just picked a large round figure of out the air. But when their bluff is called by the Wolfpack and the next attack happens, EU governments will after initial huffing and puffing start printing unlimited amounts of paper.
   
  So the world is now on its road to ruin and there is no action, no leader and no new amount of printed money that can save the world or prevent a hyperinflationary depression.
   
  Never in history has the world been in a situation when virtually all industrialised countries are bankrupt. Therefore there is no precedent for what will happen in the next few years. What we can be quite certain about is that events will happen in a seemingly random pattern and that it will be impossible to forecast where the next crises will start.
   
  But although we will not be able to predict in what order events will take place, we can expect much of what is outlined below to happen.
   
  Wolfpack attacks
  Already back in 2007 we warned about the very high risk of the CDS (credit default swap) market. This is now one of the primary instruments used by the Wolfpack (expression coined by the Swedish Finance Minister Borg). The Wolfpack, speculators with enormous fire power such as hedge funds and investment banks, use the CDS market to attack any weak financial sector, be it a country, a bank or a company. The combination of the leverage of the CDSs and the massive capital available to the Wolfpack makes it possible for them to bring down or badly maul whatever they attack. It was not the Wolfpack that caused the problem in for example Greece but they can bring down a weak victim quickly and profit immensely and immorally from it.
   
  There are so many weak potential victims that the Wolfpack can attack and they will start with the most vulnerable ones like, Portugal, Spain and Ireland etc. But when the time is right they will also attack the US and the UK.
   
  So in the coming year we will see country after country coming under attack from the Wolfback which will lead to acceleration in money printing and higher interest rates.
   
  Iceland – Ireland – Greece – Who is next?
  The EU support package of $ 1 trillion is supposed to be sufficient to protect the rest of Europe from another Greek tragedy. The dilemma with such a massive EU commitment is that no government expects to have to pay the money out. If they did the voters in the respective EU countries would throw out their government. Why should the German people, who are also having hard times, pay for the Greeks, Portuguese or the Spaniards, especially since these loans will never be paid back.
   
  Greece is bankrupt but is still taking on additional EU loans of € 140 billion. In addition, their austerity measures are supposed to bring the deficit down from 12% of GDP today to 3% in a few years time. But who can be so stupid as to lend to a bankrupt nation which will sink into the Ionian and Aegean Seas in the next few years. With massive cuts in government expenditure, with major falls in output, with unemployment rising fast, with tax revenues collapsing how can Greece possibly be expected to improve the economy and pay a high interest rate on their exploding debt?  In addition, as long as they have the Euro they will be totally uncompetitive. So if they couldn’t manage their economy in the so called good times, it is absolutely guaranteed that they have no chance of surviving in bad times. So Greece will default and so will Portugal, Spain, Italy, France, the UK, the US and many more. But before that there will be the most colossal worldwide money printing exercise which would have used up most of the trees in the world but for electronic fiat money.
   
  So, if virtually bankrupt nations don’t cut their deficits, they will definitively go under and if they try to cut, they will also go under due to collapsing output and tax revenues and colossal debts. Thus whatever actions governments take or don’t take, they are damned.
   
  The table above shows debt as a percentage of GDP for various OECD countries. The official debts (in red) are massive and unlikely to ever be repaid in real money. Total debts (grey bars) include unfunded liabilities such as pensions and health care. Spain has the lowest total debt to GDP of 250%. Germany and the UK have around 400%, the US over 500% and Greece over 800% debt to GDP. These figures are absolutely astronomical and prove that most governments in the world will be totally incapable of repaying their debts or funding the pensions or medical care which they have committed to. It doesn’t matter however much governments cut expenditure or raise taxes, all these countries are insolvent and nothing can save them.
   
  The world must permanently readjust
  Most governments still believe that deficit spending and money printing is the solution to all their problems. Because the world economy’s expansion in the last 100 years and particularly in the last 40 years has been primarily based on credit and not real growth, governments live under the false impression that money printing will work this time too. But we have reached the point when investors will no longer buy worthless government debt that will never be repaid with real money. We will first go through a period when governments issue and buy their own debt thus monetising the debt or print money.  This will be the hyperinflationary phase. Thereafter the world will realise that none of the government debt and very little of the bank debt will ever be repaid. Credit will then implode and so will also the assets financed by credit. Eventually there will be a new monetary and financial system and the world will start afresh.
   
  The adjustment period will be very long and will involve economic and human misery, leading to social unrest and major political change. It will be a horrible experience for the world during this extended period of adjustment. But it will be like a forest fire that clears out the deadwood and creates the conditions for  strong new growth. Once the new era starts it will therefore be from a very much lower level and individuals will be rewarded for hard work with  little or no social security safety net. Credit will only be granted for sound capital investment projects, not for consumption or speculation. Ethical and moral values will return and the golden calf will not be worshipped. But before that, the period of readjustment will be very long and extremely difficult for the whole world.
   
  Hyperinflation
  For several years we have predicted that hyperinflation is the most likely outcome of the economic predicament that the world is in. But it is unlikely to be a straightforward hyperinflationary period. Precious metals will be the primary beneficiaries of hyperinflation. Certain commodities, especially food and energy, will also go up in price.  But most assets that have been financed by the credit boom will go down in real terms. This includes property, stocks and bonds. In hyperinflationary money these assets could still go up in price. If someone who earned $ 50,000 per annum in real money now earns $ 5 million in newly printed money, his house will probably also go up in nominal terms. But in real terms property prices will decline massively. There will be no credit available and interest rates will be very high, probably at least 15-20% so very few people will be able to buy a house.
   
  Hyperinflation will destroy many currencies so paper money will definitely reach its intrinsic value which is zero. Gold and silver will virtually be the only assets that will protect investors fully against the destruction of money.
     
  The next leg of the debt crisis is here
  In our February newsletter “Sovereign Alchemy will Fail” we discussed the Sovereign Time Bomb and we are now experiencing the initial small explosions with Greece as the first victim. The $1 trillion EU/IMF rescue package was never intended to be more than a headline figure. EU governments were hoping that this would frighten the Wolfpack away. But so far this has failed. The Euro went up 4 cents when the package was announced but is now down to new lows again. How can anyone take a massive rescue package seriously when most of the countries making the commitments are bankrupt themselves? Spain and Italy have committed tens of billions each. And they are the ones that will be attacked by the Wolfpack next. This is the bankrupt saving the bankrupt. The IMF has no money but is dependent on its members of which the US is the biggest contributor. And they are bankrupt too. The UK, which is not in the Euro Zone and which has a worse budget deficit than Greece, contributed £15 billion. The new UK government is planning to cut a massive £ 6 billion of costs out of its next year’s budget which will bring major hardship. But as a last act, the outgoing labour government committed £15 billion which if paid out will never be repaid. The whole thing is a total farce. Governments commit trillions to rescue banks and sovereign states but cannot even make budget cuts of a few billion in their own countries. This shows that the world economy and the world financial system is being run by morons who only have their own self interest in mind and do not understand the consequences of their ruinous actions.
   
  When the $1 trillion EU rescue package was announced, the US simultaneously offered European banks dollar Swap facilities (dollar loans) of a minimum $500 billion but probably much more. In addition the US Fed also injected at least $500 billion into the US banking system. These actions make it clear the banking system is under tremendous strain similar to 2008. But this is just the beginning. Things will get a lot worse.

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Ginormous Economic, Financial And Monetary Tsunami Coming! Martial Law?! 24 Experts Warn of 2010 Meltdown! Armageddon 2010!

Warning! Financial, Economic And Monetary Armageddon 2010!

• I am sounding this alarm loud and clear! By Q4 2010 All Hell Will Break Loose! Warning! Warning! Ginormous financial, economic and monetary 5000′ high tsunami coming our way! Get out of all paper assets: stocks (except for precious metal stocks), currencies… goto physical precious metals, gold and silver now!!!
   
• Stock up on food because food price inflation is going to skyrocket. The coming collapse will cause major disruption in the supply chain. There will be food but because the banking system, financial system will collapse, the means of financing the business will be affected. Alot of business will goto a cash or more likely gold payment mode. This will result in massive price disruptions and shortages!
    
  Predictions For The Rest Of 2010
  Bob Chapman
  First 6 months of 2010, Americans will continue to live in the ‘unreality’…the period between July and October is when the financial fireworks will begin. The Fed will act unilaterally for its own survival irrespective of any political implications …(source is from insider at FED meetings). In the last quarter of the year we could even see Martial law, which is more likely for the first 6 months of 2011. The FDIC will collapse in September 2010. Commercial real estate is set to implode in 2010. Wall Street believes there is a 100% chance of crash in bond market, especially municipals sometime during 2010. The dollar will be devalued by the end of 2010.
   
  Gerald Celente
  Terrorist attacks and the “Crash of 2010″. 40% devaluation at first = the greatest depression, worse than the Great Depression.
   
  Igor Panarin
  In the summer of 1998, based on classified data about the state of the U.S. economy and society supplied to him by fellow FAPSI analysts, Panarin forecast the probable disintegration of the USA into six parts in 2010 (at the end of June – start of July 2010, as he specified on 10 December 2000
   
  Neithercorps
  Have projected that the third and final stage of the economic collapse will begin sometime in 2010. Barring some kind of financial miracle, or the complete dissolution of the Federal Reserve, a snowballing implosion should become visible by the end of this year. The behavior of the Fed, along with that of the IMF seems to suggest that they are preparing for a focused collapse, peaking within weeks or months instead of years, and the most certain fall of the dollar.
   
  Webbots
  July and onward things get very strange. Revolution. Dollar dead by November 2010.
   
  LEAP 20/20
  2010 Outlook from a group of 25 European Economists with a 90% accuracy rating- We anticipate a sudden intensification of the crisis in the second half of 2010, caused by a double effect of a catching up of events which were temporarily « frozen » in the second half of 2009 and the impossibility of maintaining the palliative remedies of past years. There is a perfect (economic) storm coming within the global financial markets and inevitable pressure on interest rates in the U.S. The injection of zero-cost money into the Western banking system has failed to restart the economy. Despite zero-cost money, the system has stalled. It is slowly rolling over into the next big down wave, which in Elliott Wave terminology will be Super Cycle Wave Three, or in common language, “THE BIG ONE, WHERE WE ALL GO OVER THE FALLS TOGETHER.”
   
  Joseph Meyer
  Forecasts on the economy. He sees the real estate market continuing to decline, and advised people to invest in precious metals and commodities, as well as keeping cash at home in a safe place in case of bank closures. The stock market, after peaking in March or April (around 10,850), will fall all the way down to somewhere between 2450 and 4125 during the next leg down.
   
  Harry Dent (investor)
  A very likely second crash by late 2010. The coming depression (starts around the summer of 2010). Dent sees the stock market–currently benefiting from upward momentum and peppier economic activity–headed for a very brief and pleasant run that could lift the Dow to the 10,700-11,500 range from its current level of about 10.090. But then, he sees the market running into a stone wall, which will be followed by a nasty stock market decline (starting in early March to late April) that could drive down the Dow later this year to 3,000-5,000, with his best guess about 3,800.
   
  Richard Russell (Market Expert)
  (from 2/3/10) says the bear market rally is in the process of breaking up and panic is on the way. He sees a full correction of the entire rise from the 2002 low of 7,286 to the bull market high of 14,164.53 set on October 9, 2007. The halfway level of retracement was 10,725. The total retracement was to 6,547.05 on March 9, 2009. He now sees the Dow falling to 7,286 and if that level does not hold, “I see it sinking to its 1980-82 area low of Dow 1,000.” The current action is the worst he has ever seen. (Bob Chapman says for Russell to make such a startling statement is unusual because he never cries wolf and is almost never wrong)
   
  Niño Becerra (Professor of Economics)
  Predicted in July 2007 that what was going to happen was that by mid 2010 there is going to be a crisis only comparable to the one in 1929. From October 2009 to May 2010 people will begin to see things are not working out the way the government thought. In May of 2010, the crisis starts with all its force and continues and strengthens throughout 2011. He accurately predicted the current recession and market crash to the month.
   
  Lyndon Larouche
  The crisis is accelerating and will become worse week by week until the whole system grinds into a collapse, likely sometime this year. And when it does, it will be the greatest collapse since the fall of the Roman Empire.
   
  WALL STREET JOURNAL- (2/2010)
  “You are witnessing a fundamental breakdown of the American dream, a systemic breakdown of our democracy and our capitalism, a breakdown driven by the blind insatiable greed of Wall Street: Dysfunctional government, insane markets, economy on the brink. Multiply that many times over and see a world in total disarray. Ignore it now, tomorrow will be too late.”
   
  Eric deCarbonnel
  There is no precedence for the panic and chaos that will occur in 2010. The global food supply/demand picture has NEVER been so out of balance. The 2010 food crisis will rearrange economic, financial, and political order of the world, and those who aren’t prepared will suffer terrible losses…As the dollar loses most of its value, America’s savings will be wiped out. The US service economy will disintegrate as consumer spending in real terms (ie: gold or other stable currencies) drops like a rock, bringing unemployment to levels exceeding the great depression. Public health services/programs will be cut back, as individuals will have no savings/credit/income to pay for medical care. Value of most investments will be wiped out. The US debt markets will freeze again, this time permanently. There will be no buyers except at the most drastic of firesale prices, and inflation will wipe away value before credit markets have any chance at recovery. The panic in 2010 will see the majority of derivatives end up worthless. Since global derivatives markets operate on the assumption of the continued stable value of the dollar and short term US debt, using derivatives to bet against the dollar is NOT a good idea. The panic in 2010 will see the majority of derivatives end up worthless. The dollar’s collapse will rob US consumers of all purchasing power, and any investment depend on US consumption will lose most of its value.
   
  Alpha-Omega Report (Trends Forecast)
  Going into 2010, the trends seemed to lead nowhere or towards oblivion. Geo-politically, the Middle East was and is trending towards some sort of military clash, most likely by mid-year, but perhaps sooner…At the moment, it seems 2010 is shaping up to be a year of absolute chaos. We see trends for war between Israel and her neighbors that will shake every facet of human activity…In the event of war, we see all other societal trends being thoroughly disrupted…Iran will most likely shut off the flow of oil from the Persian Gulf. This will have immense consequences for the world’s economy. Oil prices will skyrocket into the stratosphere and become so expensive that world’s economies will collapse..There are also trend indicators along economic lines that point to the potential for a total meltdown of the world’s financial system with major crisis points developing with the change of each quarter of the year. 2010 could be a meltdown year for the world’s economy, regardless of what goes on in the Middle East.
   
  Robin Landry (Market Expert)
  I believe we are headed to new market highs between 10780-11241 over the next few months. The most likely time frame for the top is the April-May area. Remember the evidence IMHO still says we are in a bear market rally with a major decline to follow once this rally ends.
   
  John P. Hussman, Ph.D.
  In my estimation, there is still close to an 80% probability (Bayes’ Rule) that a second market plunge and economic downturn will unfold during 2010.
   
  Robert Prechter
  Founder of Elliott Wave International, implores retail investors stay away from the markets… for now. Prechter, who was bullish near the lows in March 2009, now says the stock market “is in a topping area, “predicting another crash in 2010 that will bring stocks below the 2009 low. His word to the wise, “be patient, don’t rush it” keep your money in cash and cash equivalents.
   
  Richard Mogey
  Current Research Director at the Foundation for the Study of Cycles- Because of a convergence of numerous cycles all at once, the stock market may go up for a little while, but will crash in 2010 and reach all-time lows late 2012. Mogey says that the 2008 crash was nothing compared to the coming crash. Gold may correct in 2009, but will go up in 2010 and peak in 2011. Silver will follow gold.
   
  James Howard Kunstler (January 2010)
  The economy as we’ve known it simply can’t go on, which James Howard Kunstler has been saying all along. The shenanigans with stimulus and bailouts will just compound the central problem with debt. There’s not much longer to go before the whole thing collapses and dies. Six Months to Live- The economy that is. Especially the part that consists of swapping paper certificates. That’s the buzz I’ve gotten the first two weeks of 2010.
   
  Peter Schiff (3/13/2010)
  “In my opinion, the market is now perfectly positioned for a massive dollar sell-off. The fundamentals for the dollar in 2010 are so much worse than they were in 2008 that it is hard to imagine a reason for people to keep buying once a modicum of political and monetary stability can be restored in Europe. In fact, the euro has recently stabilized. My gut is that the dollar sell-off will be sharp and swift. Once the dollar decisively breaks below last year’s lows, many of the traders who jumped ship in the recent rally will look to re-establish their positions. This will accelerate the dollar’s descent and refocus everyone’s attention back on the financial train-wreck unfolding in the United States. Any doubts about the future of the U.S. dollar should be laid to rest by today’s announcement that San Francisco Federal Reserve President Janet Yellen has been nominated to be Vice Chair of the Fed’s Board of Governors, and thereby a voter on the interest rate-setting, seven-member Open Markets Committee. Ms. Yellen has earned a reputation for being one of the biggest inflation doves among the Fed’s top players.” Schiff is famous for his accurate predictions of the economic events of 2008.
   
  Lindsey Williams
  Dollar devalued 30-50% by end of year. It will become very difficult for the average American to afford to buy even food. This was revealed to him through an Illuminati insider.
   
  Unnamed Economist working for US Gov’t (GLP)
  What we have experienced the last two years is nothing to what we are going to experience this year. If you have a job now…you may not have it in three to six months. (by August 2010). Stock market will fall = great depression. Foreign investors stop financing debt = collapse. 6.2 million are about to lose their unemployment.
   
  Jimmy “Doomsday”
  DOW will fall below 7,000 before mid summer 2010- Dollar will rise above 95 on the dollar index before mid summer 2010- Gold will bottom out below $800 before mid summer 2010- Silver will bottom out below $10 before mid summer 2010- CA debt implosion will start its major downturn by mid summer and hit crisis mode before Q4 2010- Dollar index will plunge below 65 between Q3 and Q4 2010- Commercial real estate will hit crisis mode in Q4 2010- Over 35 states will be bailed out by end of Q4 2010 by the US tax payer End of Q4 2010 gold will hit $1,600 and silver jump to $35 an oz.
   
  George Ure
  Markets up until mid-to-late-summer. Then “all hell breaks lose” from then on through the rest of the year.

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