Gerald Celente: The entire system is collapsing

Russia Today/YouTube ^ | 6/18/10

[Kartographer]

He continued, “That’s breaking down as well. Now they’re imposing austerity measures. The entire system is collapsing. We’ve been saying this since the crash began in 2008. They’re only trying to pump it up with stimulus money and it’s not working. So, were going to see more unemployment. There is no way they can keep the system afloat by just dumping more money into it.”

[Kartographer]

When the dominoes start falling will yu be ready?

My preparedness manual for download at:

http://www.mediafire.com/?zghuhkgoqz4

[Man50D]

This is exactly what BO/BS and his fellow marxists want to happen. It’s called the Cloward-Piven Strategy.

[hennie pennie]

*ping*

[cripplecreek]

Agreed. Too many on the right are becoming complacent with Obama’s “failures”. The radical marxists are fired up because they feel that their spark is near. They want collapse and they want the lights to go out.

[Liz]

How Obama "Stimulated" the Economy......by run-away spending

The US Treasury entry must be seen in this context. COS Rahm Emanuel took control of the US Treasury when he crept into our WH. "Professor" Obama knows nothing about high finance----but Rahm toiled on Wall Street before coming into government (Congressman for 4 terms, Clinton henchman and Fannie Mae looter).

Behind The Real Size of the Wall Street Bailout (more like $14 trillion)
Mother Jones | Dec. 21, 2009 / FR Posted January 04, 2010 by E. Pluribus Unum

A guide to the abbreviations, acronyms, and obscure programs that make up the $14 trillion federal bailout of Wall Street.

The price tag for the Wall Street bailout is often put at $700 billion—the size of the Troubled Assets Relief Program. But TARP is just the best known program in an array of more than 30 overseen by Treasury Department and Federal Reserve that have paid out or put aside money to bail out financial firms and inject money into the markets. To get a sense of the size of the real $14 trillion bailout, see our chart here. Below, a guide to the pieces of the puzzle:

Treasury Department bailout programs (controlled by Rahm Emanuel)

Money Market Mutual Fund: In September 2008, the Treasury announced that it would insure the holdings of publicly offered money market mutual funds. According to the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), these guarantees could have potentially cost the federal government more than $3 trillion [PDF].

Public-Private Investment Fund: This joint Treasury-Federal Reserve program bought toxic assets from banks and brokerages—as much as $5 billion of assets per firm. According to SIGTARP, the government's potential exposure from the PPIF is between $500 million and $1 trillion [PDF].

TARP: As part of the Troubled Asset Relief Program, the Treasury has made loans to or investments more than 750 banks and financial institutions. $650 billion has been paid out (not including HAMP; see below). As of December 21, 2009, $117.5 billion of that has been repaid. Government-sponsored enterprise (GSE) stock purchase: The Treasury has bought $200 million in preferred stock from Fannie Mae and another $200 million from Freddie Mac [PDF] to show that they "will remain viable entities critical to the functioning of the housing and mortgage markets." GSE mortgage-backed securities purchase: Under the Housing and Economic Recovery Act of 2008, the Treasury may buy mortgage-backed securities from Fannie Mae and Freddie Mac. According to SIGTARP, these purchases could cost as much as $314 billion [PDF].

--SNIP--- long read

Federal Reserve bailout programs

Commercial Paper Funding Facility: With the support from the Treasury, the Fed established the CPFF in October 2008 to increase the availability of short-term debt (commercial paper) funding. Up to $1.8 trillion [PDF] was earmarked for the program.

Mortgage-backed securities purchase: In 2009, the Fed earmarked up to $1.25 trillion to buy investments based on home loans.

Term Asset-Backed Securities Loan Facility: TALF provides financing to investors who are buying asset-backed securities. In February 2009, the Fed and Treasury announced an expansion of the program to generate up to $1 trillion in new lending.

Foreign Central Bank Currency Liquidity Swaps: The Fed has provided $755 billion [PDF] for currency liquidity swaps with foreign central banks.

--SNIP--- long read

=============================================

DID GANGSTER GOVERNMENT SCAM $14 TRILLION USING THE MADOFF MO? Creating a labyrinth of interrelated international funds, institutions and financial entities of almost unparalleled complexity and breadth......with assets and businesses in miltiple places overseas that hid thievery, money launderering and tax evasion.

At least half a dozen people in the Obama admin are going to walk away from “ Public Service “ living like the Sultan of Brunei.

[gusopol3]

I don’t trust a guy who wears a sports jacket over his bath robe. If that happens to be his tux coat, he’s really nuts.

[Kartographer]

"They want collapse and they want the lights to go out."

"Dark for dark deeds"

[ChocChipCookie]

Preparedness/Survival ping!

[SWAMPSNIPER]

My son in laws job is at risk now, the company is struggling with uncollectable accounts. We’ve already cut back to basics, things are as bleak as I’ve ever seen them.

[AlexW]

“things are as bleak as I’ve ever seen them.”

This is why I am so thankful to be retired, and out of the country.
I really feel for those with families, and in their productive years.
I have a daughter, 27, back in Tennessee, but she can also bail out and join me here.

[cripplecreek]

Meanwhile union areas are being propped up. The department of labor gave Michigan $40 million the other day but it only gave the money to specific counties. I made up a map of how the money was distributed. Basically the counties with the heaviest union presence got the bulk of the money. The outlined area is my district which is traditionally republican but is in marxist hands for now but is a likely GOP pickup in the fall.

http://img24.imageshack.us/img24/8107/michigancountymap.jpg

[GlockThe Vote]

I don’t agree with everything Celente says, but I greatly enjoy his youtube channel. He is a breath of fresh air and his recent appearence on AJ was one of his best.

Celente, Schiff, Bobb Chapman, and a few others are doing us a great service on youtube and all freepers are well advised to check them out.

THINK FOR YOURSELF!

[fr_freak]

The radical marxists are fired up because they feel that their spark is near. They want collapse and they want the lights to go out.

That's fine with me because as soon as the lights go out - it's payback time.

[jazzlite]

...”At least half a dozen people in the Obama admin are going to walk away from “ Public Service “ living like the Sultan of Brunei”...

If this is true, it is as criminal as anything ever was. I do not believe Americans will tolerate this thievery. If it exists, make no mistake, it will be punished.

[SWAMPSNIPER]

I’m kicking in as much as I can but my retirement doesn’t go far. It seems like every damned thing in the house is breaking down to boot!

[PGalt]

...things are as bleak as I’ve ever seen them.

Agreed. There has never been a greater chasm between perception (what is presented to us via the propaganda machine coupled with the machinations of a financial oligarchy) and reality in the U.S.A.

Thanks to all posters.

Be prepared.

[ElectionInspector]

If it exists, make no mistake, it will be punished.

..... oh really???? Think of Franklin Raines at Fannie and the cooked books that paid him over $90 MILLION fraud bonus dollars and tell me what his punishment was and that fraud is ALL PUBLIC KNOWLEDGE... it will continue until people are in the streets since the leftists control the courts... imho

ymmv

[AlexW]

“I’m kicking in as much as I can but my retirement doesn’t go far.”

Since I was always self employed, I paid in as little as I could to SS.
I started drawing it at age 64.
While it is minimal, it is more then I need for a pleasant
life for me and my girlfriend here in the Philippines.
Many in the US are paying more for gas each month then I pay for a month of rent, food, internet, and a ltr. of wine every day ;)

[Kartographer]

Say hello to Art Bell for me. :-)

[AlexW]

“Say hello to Art Bell for me. :-)”

Art is in a high rise up in Manila.
That is not at all my style.
I am in a small cottage at a beach on Cebu.
I did, however, exchange a few emails with him, as we are both old HAMs.