US Dollar could drop by 90% - Never Forgotten: a Foster's Home Community

Partymember · 11-26-2007, 05:36 PM

start stockpiling guns and ammo and canned beans, kiddies. Gonna be an interesting new century. Canadian dollar surpassing us by 9 cents...remember when they got 60 cents on the dollar? I do. We used to go up there and laugh as we spent our powerful greenbacks. No longer, guys.

RHINEBECK, N.Y., Nov. 19 (UPI) -- A financial crisis will likely send the U.S. dollar into a free fall of as much as 90 percent and gold soaring to $2,000 an ounce, a trends researcher said.

"We are going to see economic times the likes of which no living person has seen," Trends Research Institute Director Gerald Celente said, forecasting a "Panic of 2008."

"The bigger they are, the harder they'll fall," he said in an interview with New York's Hudson Valley Business Journal.

Celente -- who forecast the subprime mortgage financial crisis and the dollar's decline a year ago and gold's current rise in May -- told the newspaper the subprime mortgage meltdown was just the first "small, high-risk segment of the market" to collapse.

Derivative dealers, hedge funds, buyout firms and other market players will also unravel, he said.

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," Celente said.

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

A result will be a drop in holiday spending a year from now, followed by a permanent end of the "retail holiday frenzy" that has driven the U.S. economy since the 1940s, he said.

link: http://www.upi.com/NewsTrack/Busines...e_90_pct/4876/

11-26-2007, 05:36 PM	#1
Partymember super-scientist GO TEAM VENTURE! Join Date: Nov 2006 Location: Lake George Posts: 1,500	US Dollar could drop by 90% start stockpiling guns and ammo and canned beans, kiddies. Gonna be an interesting new century. Canadian dollar surpassing us by 9 cents...remember when they got 60 cents on the dollar? I do. We used to go up there and laugh as we spent our powerful greenbacks. No longer, guys. RHINEBECK, N.Y., Nov. 19 (UPI) -- A financial crisis will likely send the U.S. dollar into a free fall of as much as 90 percent and gold soaring to $2,000 an ounce, a trends researcher said. "We are going to see economic times the likes of which no living person has seen," Trends Research Institute Director Gerald Celente said, forecasting a "Panic of 2008." "The bigger they are, the harder they'll fall," he said in an interview with New York's Hudson Valley Business Journal. Celente -- who forecast the subprime mortgage financial crisis and the dollar's decline a year ago and gold's current rise in May -- told the newspaper the subprime mortgage meltdown was just the first "small, high-risk segment of the market" to collapse. Derivative dealers, hedge funds, buyout firms and other market players will also unravel, he said. 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," Celente said. The Panic of 2008 will lead to a lower U.S. standard of living, he said. A result will be a drop in holiday spending a year from now, followed by a permanent end of the "retail holiday frenzy" that has driven the U.S. economy since the 1940s, he said. link: http://www.upi.com/NewsTrack/Busines...e_90_pct/4876/ __________________ Think you used enough dynamite there, Butch?