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Celente says crash of 2010 is just starting, buy gold
Posted on 07 May 2010 with 4 comments from readers
Gerald Celente says the system is collapsing and that the 1,000-point crash on the Dow Jones yesterday is just a sign of things to come. He has 80 per cent of his money in gold and thinks this is no time to take risks as a series of sovereign debt crises are going to rock the world.
It is hard to believe that a computer glitch caused this plunge in the stock market. Automated trading perhaps, or simply a great many investors selling at the same time.
But Celente’s wider message is that this downturn has only just started. You do have to wonder at the folks who said the worst intra-day plunge since 1987 yesterday was just a normal correction. There is nothing normal about it. This time is really different.
Posted on 07 May 2010
Categories: Banking & Finance, Gold & Silver, Investment Gurus, US Stocks, Video Channel
4 Comments posted by readers:
It has been proven to be caused by a computer glitch.
Ed Note: yes and what caused the glitch? Overloading through selling.
I can’t wait to see if Europe will announce a USA clone TARP type bailout program. If they don’t, we will see if everything tanks, like the Feds warned would happen over here in the USA, without the taxpayer give away.
I am going to guess that Trichet will do a bond market bailout within 5 days. If he doesn’t, get ready for a 20% down week in Europe. Gold will go up $100. The kind of austerity they are talking about, if imposed, might just cause a depression. They might find out that inflation beats another Great Depression, the hard way. The euro isn’t even at parity with the dollar, and they are all worried about inflation!
That is my guess based on no data, and no financial expertise. But hey, can I do worse than the experts? To paraphrase Obama, yes I can.
Who would have ever dreamed that the finance would ever be this exciting. I’ve got 200 TV channels, but can hardly ever turn off CNBC.
damn right Gerald ….
but still there are a lot of money to made in the stock market,,
Would Gerals Celente tell us now in August-sept 2010 whether we are crashed, crashing or waiting to be crashing??