Gerald Celente: Dollar Will Fall 90 Percent

Kurt Nimmo
TruthNews
November 24, 2007

Gerald Celente is not your garden variety doom-and-gloom crackpot. Celente, director of Trends Research Institute, forecasted the subprime mortgage financial crisis and the decline of the dollar a year ago and gold’s current rise in May. He also predicted the 1997 Asian Currency Crisis and the fall of the Soviet Union. “We are going to see economic times the likes of which no living person has seen,” he told United Press International.

Wait a minute. That includes people who lived through the so-called “Great Depression.” Does Celente think the “Panic of 2008″ will be worse than the Depression? It would appear so.

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

“I have no crystal ball, nor do I claim to have well-developed psychic powers, but I’d be willing to bet almost anything that next Thanksgiving season will be dramatically different from this one,” writes Carolyn Baker.

We are confronting “dollar plummeting hysteria, monumental levels of debt, foreclosure, bankruptcy, unemployment, energy depletion, skyrocketing gas and food prices, illnesses treated without health insurance coverage—or just not treated, unprecedented levels of homelessness, and by all indications, within a few months into 2008, America will be well on the road to a re-run of 1929-or something inconceivably worse,” Baker frets. “These are the good ole days, my friend, and these are also the dark new days. Happy Thanksgiving; savor every bite.”

“Derivative dealers, hedge funds, buyout firms and other market players will also unravel,” Celente predicts.

Massive corporate losses, such as those recently posted by Citigroup Inc. and General Motors Corp., 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…”

Some giants, however, stand to gain, especially when it comes to real estate. “There is going to be a grab on this property by people who have cash, and that’s not going to be the middle class. People will lose their homes if they have large mortgages that they cannot comfortably sustain or pay off,” Jerome Corsi, economic expert and foe to the emerging North American Union told Alex Jones last August. “There’s going to be a grab where the institutions and the people already wealthy will only gain, it’s not going to be an opportunity for the average person to gain.”

Corsi believes the economic crisis now revealing itself is engineered. “It is engineered because again, the move toward globalism, the pumping of this liquidity to stimulate the markets was totally artificial.”

The federal reserve is going to get caught right now in a total dilemma, if it raises rates to protect the dollar, its going to further tank the economy and cause the housing markets to be in even more of a crisis. We have economic stagnation, the loss of real income, the loss of real wealth and inflation at the same time. With the dropping of the dollar the crisis is going to be manipulated to the point where people will take the Amero or any regional solution if it is proposed as the way you get out of your problem.

It’s all about wiping the chessboard clean, or rather turning it over and dumping all the pieces:

“This is the fastest run I’ve seen ever to get to the goal line of creating a Untied States regional economy, a North American Union. The elite are running like they’ll never have this chance again. It is the tenth hour, the eleventh hour where this battle will be fought. They believe that they can win now and they are going for broke to create a North American Union and tank the dollar.”

Steven Watson, writing for Infowars, summarizes:

The decline of the economy in the US is being caused by the very predatory globalist policies that are still presented to us as the solution for economic turmoil. Globalist vampires such as the IMF and the World bank, but two of the elite central banks and private interests, have drained the third world dry, and are now focusing their attention on enslaving the developed world.

The single currency and a ‘new economic order’ is a major step on the road to global governance. Europe already has its own strong single currency, while the dollar’s days seem to be numbered. When money is being printed and distributed by private corporations is it any surprise to see a push for a merger with other countries’ currencies?

Of course, in order to realize this “new economic order,” a whole lot of people will need suffer—and if we are believe Gerald Celente, worse than their grand and great-grand parents did during the so-called “Great Depression.”

“There’s no doubt now, that Fed chairman Alan Greenspan’s plan to pump zillions of dollars into the system via ‘low interest rates’ has created the biggest monster-bubble of all time and set the stage for a deep economic retrenchment,” writes Mike Whitney. “Greenspan’s inflationary policies were designed to expand the ‘wealth gap’ and create greater economic polarization between the classes. By the time the housing bubble deflates, millions of working class Americans will be left to pay off loans that are considerably higher than the current value of their home. This will inevitably create deeper societal divisions and, very likely, a permanent underclass of mortgage-slaves.”

Greenspan has successfully piloted the nation into virtual insolvency. In fact, the parallels between our present situation and the period preceding the Great Depression are striking. Just as massive debt was accumulating in the market from the purchase of stocks “on margin”, so too, mortgage debt between 2000 and 2006 soared from $4.8 trillion to $9.5 trillion. In both cases the “wealth effect” spawned a spending spree which looked like growth but was really the steady, insidious expansion of debt which generated economic activity. In both periods wages were either flat or declining and the gap between rich and working class was growing more extreme by the year.

Call it the “New Feudalism.”

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  1. Michael Miller on November 26th, 2007

    If a situation is created that a Loan is mathematically impossible to pay off then that loan should be considered Fraudulent and void of equity. The Federal Reserve system has done just that over the years. They have defrauded the federal government and have created a debt based system totally devoid of fairness or equity.

  2. Milton on November 26th, 2007

    So should we max out our credit cards now and buy tangable items?

  3. Scott on November 28th, 2007

    “So should we max out our credit cards now and buy tangable items?”

    No that’s called stealing.

  4. sandman on December 3rd, 2007

    Silver and gold,silver and gold…

  5. […] Gerald Celente: Dollar Will Fall 90 Percent Truth New.us Gerald Celente is not your garden variety doom-and-gloom crackpot. Celente, director of Trends Research Institute, forecasted the subprime mortgage financial crisis and the decline of the dollar a year ago and gold’s current rise in May. He also predicted the 1997 Asian Currency Crisis and the fall of the Soviet Union. “We are going to see economic times the likes of which no living person has seen,” he told United Press International. […]

  6. Capitalism, Fascism, Empire on December 11th, 2007

    Gerald Celente: Dollar will Fall 90 Percent

    Gerald Celente is not your garden variety doom-and-gloom crackpot. Celente, director of Trends Research

  7. Dylan Skriloff on December 11th, 2007

    I wrote the article referenced to by UPI here … Celente has predicted more than this - it’s scary how accurate he’s been. He’s nostradamus. We are going to see some scary times ahead. Keep the faith. Stop the war. Love the god.

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  10. Dave on March 20th, 2008

    Is it stealing to take back from the banks what they have taken from us?

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    Dollar Will Fall 90 Percent

    Re-visit and compare this story from 11/07 to today,Getting nervous yet?

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  16. » Dollar Will Fall 90 Percent on July 20th, 2008

    […] TruthNews.us Blog Archive Gerald Celente: Dollar Will Fall 90 Percent […]

  17. e z one on July 21st, 2008

    The Federal Reserve bank is a private organization.
    They are engaging in loan activities which carry userious rates.
    It is called ‘loan sharking’ in street slang.
    If another illegal organization engages in the same activity, (such as the Mafia), the Federal Government would send the F.B.I. and the Attorneys General of the United States to investigate, gather evidence, assemble a Grand Jury and prosecute to the fullest all participants in this scheme. Upon conviction, there would be harsh sentencing to punish the conspiratorial purpatrators and also serve as warning to any others considering such a nefarious crime.
    What is so different about the Federal Reserve and what is occuring there?
    Why is our F.B.I. turning a blind eye to the crimes against our nation?
    Black’s Law Dictionary defines the Constitution, U.S. as, “the highest law of the land, against which no other law shall stand”.
    So get to work…NOW!

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  20. Gregory Pittman on September 15th, 2008

    where is the petey robot clown device….i want a mysterydate board game…i will play it and predict the future…please beat me with a shovel…thank you jesus

  21. Dianne on October 1st, 2008

    Given this rare opportunity to “see” into the immediate future, what do we do?

    Rather than run around screaming, “The sky is falling,” what should the average American do to prepare to live the best possible life in the future?

    Decrease debt or stockpile food? Pull children from college to stop tuition payments and teach them survival techniques? Withdraw funds from retirement accounts? What practical tactics are suggested/encouraged/needed?

  22. […] Celente is the founder of Trends Research.  He predicted the “Panic of 2008″ in 2007 and has quite a few other credits for successful […]

  23. Jim on November 13th, 2008

    At first I thought this wasn’t much of a prediction… until I realized that this was dated for last year! This is right in line with what has happened over the past year. I would definitely advocate skepticism when listening to any of these “prophets,” but I do agree with the notion that Americans must return to the practice of living BELOW THEIR MEANS.

    Don’t charge a credit card if you don’t have that much money in the bank. Pick up a productive hobby or skill like gardening, woodworking, knitting etc. KEEP AT LEAST 72 HOURS WORTH OF FOOD AND WATER in your house, which even FEMA recommends. Don’t shy away from do-it-yourself books on house maintenance, cooking etc. These are very small, cheap ways to make yourself more resistant to economic turmoil. This stuff was common sense in times of crisis.

    Where tough economic times can really hurt you is that they leave you (and the entire infrastructure) more vulnerable to smaller incidents which would normally be more benign. A mid-eastern oil pipeline breaks and suddenly gas is $8 per gallon. You can barely afford to keep up with the rent, then hurricane season hits and your car gets smashed. The average grocery store has about 3 days worth of food and water in inventory, which evaporates instantly when any kind of crisis hits.

    Water is important. You can survive a week or two without food, but without water you’re done for. You know what happens at the grocery store if there is a contamination issue at the water treatment plant, or if droughts and rising sea levels diminish the local water supply. Keep in your home a gallon of water per person, per day for at least 3 days (these are FEMA guidelines). Buy some water purification tablets- you can find them at the camping section of Walmart, and it will cost you a whopping two dollars.

    When our economy grows more brittle and frail, don’t let a combination of one or two minor incidents break you.

    One last issue that I know is contentious: regardless of your position on violence, I would strongly recommend keeping a firearm or other weapon of some sort available, for protecting yourself or your family. Practice with it; learn how to handle it properly. Before you write me off as a gun-nut survivalist, keep in mind that during the L.A. Riots and Katrina, the only homes at ground zero that were left intact were the ones with armed occupants. Thousands of Californians flocked to gun stores the day after the riots began, when police announced on TV that “there was little they could do.” But people couldn’t buy any weapons for home defense because California has mandatory waiting periods for firearm purchases. A firearm kept for protection is like a spare tire- you likely won’t need it, but if you ever do, you’ll thank your lucky stars you had it. Also, during a natural or man-made crisis like a blackout or riot, police are going to be tied up handling the disaster- you will likely be on your own in the event of a home break-in or mass looting.

  24. Alex on November 14th, 2008

    I think that restrain from buying useless stuff will suffice and americans did a lot of extravagant shopping lately (including houses)

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  26. Joe on November 18th, 2008

    I’m sorry, sir, but so far we have not had a “Panic” similar to that of the Great Depression. There has been no complete collapse of the banking system since many banks were not part of the subprime mess and they’re doing just fine, thank you.

    Plus we now have a President Elect who doesn’t keep his head up his arse on a full-time basis. Let’s see what an exptremely smart guy can do as far as leading the country for awhile. If Obama fails… THEN panic, that’s what I say.

  27. Bryan on November 20th, 2008

    Joe, the banks were involved in subprime. Wamu, Citi, Fremont, Wells Fargo and then we have the banks that made loan via the Community Investment Act of whom Sen Obama and the Democratic Causus pressured Fannie Mae and Freddie Mac to make subprime loans(scores under 620) to inner city folk. You can thank those people at Acorn. Mister Obama is part of the problem my friend. The “change” call was just a sales pitch.

  28. Bill on November 21st, 2008

    Bryan,
    And by looking at Obama’s appointments, these people are Washington “regulars”.
    I don’t see any real chance for change when we have the same ‘ol players in the game.

  29. Sonny on November 22nd, 2008

    Christians for years have been accused of having blind faith regarding their belief system. Nothing in my lifetime has been more demonstrative of blind faith than those who voted for Obama.

    The only thing the Obamaites voted for was to have another FDR type of administration whereby employment is guaranteed through the taxation of the private sector to pay for the expense of public works. In the meantime, after gaining employment, Obama has an ingenious method of taking back a large portion of the paycheck of those on government jobs which goes back into the system for future government employment compensation.

    The Obama transition team wants the economy to go into the tank because that will give them the excuse that the only way the economy can be “saved” is to nationalize as much of America as they can thereby making us as dependent as possible on the government. Hmmm. Sounds like fascism to me.

    In the meantime, Obama is laughing all the way to the bank. He put over 3 million in his pocket in 2007 and it is likely that he will do the same or better this year. For a kid without a dime in his pocket 25 years ago sitting around smoking pot, I’d say his line of B.S. has served him well. To put it in language we all understand: we have been played for suckers!

    Only in America.

  30. Diana on December 6th, 2008

    But what is good is that more and more people are waking up to this scam. It’s going to get tough in the US, but at least you can still have arms. We in Europe don’t have that option, and THAT’s scarry.

    Many people wonder what to do. Celente said in a recent FOX interview that people should get to know their neighbours, engage in their communities- in numbers we are stronger. Elites are rich, but they are few, and they can rule the masse through ignorance. So what we can do now is- connect with other people, get organized; and share knowledge. Be in touch of what is REALLY happening around you, so that you can make informed decisions.

  31. […] prices - for so long before the balloon pops.  We’re spending trillions of dollars, and the obvious result of such madness is a dollar that loses much of its former value.  And our whole economy will come crashing down because we refused to face reality.  And […]

  32. […] prices - for so long before the balloon pops.  We’re spending trillions of dollars, and the obvious result of such madness is a dollar that loses much of its former value.  And our whole economy will come crashing down because we refused to face reality.  And […]

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  34. O on January 2nd, 2009

    The only thing we have to fear is fear itself…true then, true now…..

  35. Gary on January 10th, 2009

    What ever happened to “WE the People” ? We the people have lost sight of our freedoms that are guaranteed by the Constitution. When is the last time you heard of the Constitution being declared as the glue that will hold this America together. The real truth about the Constitution is that political big whigs are out to redefine the Constitution as opposed to upholding the Constitution as they swear to do when they take office. Redefining the Constitution should be considered treason and dealt with accordingly.
    If the president elect really wants to stand as a man in history, he will refrain from trying to take our rights away from us, and instead spend his awakened hours trying to figure out how to send the message to America that the real strength is our belief in God, our ability to govern ourselves, our ability to refrain from practices that over spend just because, refrain from the entitlements that are given free of charge to undeserving illegal aliens. Discontinuing all entitlements to illegals would solve a huge problem in the defecit today. By the way did you get to vote on whether or not your monies would be given away to undeserving people that will never pay a cent into the program. Are we really a country that is governed by the people for the people, or are we being used to destroy our own. Did our president elect ever correct anybody for calling him “The Messiah”? Did he not declare that he was now a Christian? Tell me Christians, can you declare to be “The Messiah” I believe he has pulled the wool over our eyes and will continue to fool us with his speeches that he can’t even write. WATCH OUT.

  36. Chey on January 11th, 2009

    The thing that is scary to me is in reading blogs from people around the world that so many people know in their spirit that the world is heading for a train wreck. It’s not only the people of the US, but of many countries in the world who has become so complacent that we allow the government to do make choices for us and never say a world. When the gas prices went to almost $5.00/Gallon, was there ever any marches on Washington?? No, because we keep moving on with our life and not paying attention. We watch reality shows, we have let God be taken out of our schools and our lives by only a few and never have stood up and said “wait a minute”, where was the march on Washington. We don’t pay attention to the important things that are going to be the future of our children and grandchildren and great grandchildren. We are the people and we are the ones that have to stand up and say “hey wait a minute”. We are the ones who have to do it.

  37. Dale Spencer on January 16th, 2009

    Well it looks like the gloom and doomers are finally right. It is now becoming obvious about the dollar. There is going to be a last nosedive of the dollar which will be final. Our dollars here in the USA probably at the end of 2009 will be worth about 10 cents. A funny thing has also happened: The consumer in this country has simply stopped spending. That is because everbody’s credit cards are maxed out, banks know this and won’t loan any money to businesses let alone some poor “lackey” consumer. And it doesn’t matter what the interest rate is if no one will loan you money. The diabolical debacle is now just beginning. Check all specs…..take cover….then run for the hills!

  38. Dene on February 12th, 2009

    If there is a limit of how much money is in the economy at any one point in time, then the questions are: “If members of the public, companies and banks do not have the money, then where has it gone? Who is sitting with it? Who is not releasing it back into the economy? Why have they not done so? What are they trying to achieve?”

    The article seems to imply that the answer is “Central Banks”. These are private institutions so we is controlling them? Who is dictating our lives.

    I would appreciate it if someone could shed some light on this.

  39. Lu Tibbetts on February 17th, 2009

    Dene, Research “Webster Terpley” or (Tarpley?) - listen to his videos and post back. Lu

  40. BC on February 24th, 2009

    Methinks it is over… The “good old days” of people spending money they don’t really have will be replaced with people having to revert back to subsistence agriculture for mere survival. If you own some property, you should be alright. But you will need farming and animal husbandry skills. Although I majored in accounting, I am somewhat comforted by the fact that I can raise chickens and love growing veggies (have always done it for fun, as as an eccentric-type hobby). I am scared for the future of all people in this world, especially when the global instability reaches “nuclear” levels…I’m just sayin’….

    All you suits out there, go buy some chickens and start reading books on gardening! Oh yeah, and MAKE SURE YOU OWN FIREARMS AND KNOW HOW TO MAKE YOUR OWN AMMUNITION. Having chickens and growing crops is great, but if you can’t protect them from thieves, they will do you no good! Of course, that should also bring up the WONDERFUL “Obambi” plan to make it nearly impossible to own firearms — yes people, some of it IS buried in that stimulus package. The Fed. is going to make it extremely expensive to buy ammo, and they are also going to try to force us all to register EVERY firearm with them (and pay for it, to boot!). That means the Fed. can come to your house and take away your firearms because they will know where they are located… In other words, it is time to figure out clever ways of hiding them… I’m just sayin’…

    Lord, have mercy upon us, please!

  41. Mark on March 7th, 2009

    Be Prepared!
    6 months to one year of food
    Buy gold and silver after eliminating debt
    Barter items- batteries, first aid supplies, tools, etc.
    Stockpile fuel if possible
    Guns and plenty of ammo for hunting and preservation

    I live on 8 acres in the woods and am a shock wave away from the coming calamity

    Faith in Gods plan for us all!

  42. Harold Hall on March 12th, 2009

    I think the only way Gerald can get paid is by pumping sci-fi fear talk because that is what his reputation is built upon. If you look at his track record he has been wrong numerous times. Just look at the US Dollar as an example of realty. Gerald along with his depression predictions should have resulted in the crash of the dollar. In fact if even 50% of what Gerald is predicting about the future of the US were believable the dollar would be still crashing. In realty the dollar has gained as the word looks to the US for safety. If you want sci-fi entertainment to fall asleep to at night then follow Gerald. If you want smart analysis of the economy then follow Nouriel Roubini.

  43. abhishek on March 25th, 2009

    this can provide some useful insight.

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  44. abhishek on March 25th, 2009

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  45. Cookie on March 30th, 2009

    Hi Everyone,

    I am in my first years of study at a major university. I have been watching predictions made by Gerald Celente and Peter Schiff along with others. I would like to know how this would affect me as a college student. I have not decided on a major yet but have been leaning towards Business Administration or Business Management with a specialization in International Business. Is this a good idea? what are some good majors to look at for the gloomy future that has been predicted by many?

    Thank you

  46. steve kohler on April 7th, 2009

    Even if Celente is right about his predictions, up yours.

  47. The Mad Ape on May 15th, 2009

    It is going to come down to a revolt against the establishment and the government. It needs to start with a tax protest. All of this debt will have to be paid back and it will be you and me, the average joe shmoe, that has to foot the bill.

    I say start by not paying taxes anymore. If enough people refuse, the government will have to change its ways. The numbers have to be overwhelming. Enough to make sure that people are not rounded up and charged with evasion.

    Eventually you may be forced to physically fight the corruption. Scary I know…but I see it coming. There is another option…leave. Move. Pack your bags, sell your 401K, convert your cash into gold and silver.

    Of course just thinking this way labels me a terrorist or an enemy of the state. I would sooner be on the side of the righteous then on the side of the corrupt. In the end karma has a way of biting one in the butt!

    The Mad Ape

  48. Thomas on May 24th, 2009

    Why was the Greenspan video towards the top of this page removed? It’s a bit odd that it doesn’t meet the ‘Terms of Use’ policies of YouTube, isn’t it?

  49. Richard L. Kent, Esq. on June 14th, 2009

    I call bullshit on this entire thread.

    Greenspan ceased being Fed chair in January 2006.

    This article was supposedly written in Nov. 2007.

    It speaks of Greenspan as Fed chair in the present tense.

    Bullshit. Bullshit. Bullshit.

  50. illuminati on August 22nd, 2009

    harold hall you muppet chump probably working for the New World Order

    this economic collaspe has been engineered meaning INSIDE JOB

    Massive conspiracy

    9/11 = inside job
    7/7 - inside job

    guys you seriously need to wake up otherwise we are doomed