“Never before has so much phantom money been printed out of thin air, backed by nothing, producing practically nothing,” Celente continued. “You don’t even have to be a student of history to know the outcome of this. All you have to do is have your eyes open, and start thinking for yourself.”

From: WorldNetDaily

A trends forecaster says the current economic “rebound” from last winter’s Wall Street collapse of banks, insurance companies and automobile manufacturers is an artificial blip created by ‘phantom money printed out of thin air backed by nothing.”

And Gerald Celente of TrendsResearch.com, says people right now should be bracing for “the greatest recession” which will hit worldwide and will mark the “decline of empire America.” Crop failures could be among the minor concerns.

“Here we are in 2012. Food riots, tax protests, farmer rebellions, student revolts, squatter diggins, homeless uprisings, tent cities, ghost malls, general strikes, bossnappings, kidnappings, industrial saboteurs, gang warfare, mob rule, terror,” he writes for a quarterly publication that is available through subscription on his website.

The recent surge in Wall Street indexes back to near the 10,000 level, still far below the 14,000 prior to the crash, should be no reassurance for anyone, he said.

“There’s no recovery. This is merely a cover-up,” he said. “The market crashed in March of 2009 and around the world they papered over the damage from the collapse with phantom money printed out of thin air backed by nothing,” he said.

This is “much bigger” than an economic collapse, he said. “This is the decline of empire America.”

Entire Article Here

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From: Rense

Green Shoots Or
Greatest Depression?
By Gerald Celente
5-7-9

KINGSTON, NY — The financial fields replete with sprouting “green shoots” should be viewed with suspicion, if not alarm, warns Gerald Celente, The Trends Research Institute Director. “They are not a mirage, but they are ephemeral.”

Field Marshall Ben Bernanke and his Green Shoot Brigade have fertilized the economic landscape with trillions of sweat equity dollars extorted from today’s public and the public of generations to come. Regardless of how depleted the land, heavy doses of dollars spread so thickly over the financial and government territories, will force “green shoots” to grow. But the fundamentals of the economy remain unsound. They will not be corrected by forced fertilizing barren acreage.

“‘Green shoots’ may sprout,” said Celente, “but they will not flower. The economy cannot be coerced back into growth with tons of money manure.” As the ancient parable puts it:

“A sower went out to sow his seed: and as he sowed, some fell by the way side; and it was trodden down, and the fowls of the air devoured it. And some fell upon a rock; and as soon as it was sprung up, it withered away, because it lacked moisture. And some fell among thorns; and the thorns sprang up with it, and choked it. And other fell on good ground, and sprang up, and bare fruit an hundredfold. And when he had said these things, he cried, He that hath ears to hear, let him hear.” — Luke 8:4-8

Now here this: it is inconceivable that the “green shoots” are signs of sustained economic recovery.

Celente said no one could have forecast that the government would not only intervene in the markets by pouring unprecedented trillions into bailout schemes, but that they would commandeer the whole free enterprise system.

“The 800-pound gorilla has ridden the elephant into the Oval Office, and are there for all to see. But few will call a spade a spade,” declared Celente. “Benito Mussolini described Fascism as ‘The merger of state and corporate power.’ He suggested that, more appropriately, it should be called ‘Corporatism.’ By whatever name, Corporatism or Fascism, what it’s not is Free Market Capitalism, much less Democracy,” Celente said.

“Green shoots” can only be brought to harvest through real productivity. Pumping gigantic sums of money into too-big-to-fail financial institutions to jump-start the lending/borrowing cycle is to perpetuate a failed economic model. (See “The Greatest Depression,” Trends Journal, Winter 2009.)

“We can extrapolate creatively from data, but cannot prophesize wild cards, such as acts of God, acts of nature, or acts of man that can only be described as ‘schemes undreamed of.‘ While there have been warnings since the founding of the United States, no one, but no one, could have predicted the mega-merger of Wall Street and Washington that is now a fait accompli,” said The Trends Research Institute Director.

Trendpost: With so much money being dumped into the system, there will be money to made … and lost. The agile and the knowledgeable may be able to reap “green shoots” while they’re sprouted. But beware!

“The Greatest Depression” — that we forecast would begin to set in by the end of this year — may have been postponed, but it has not been averted. When it does set in, it will do so with enhanced intensity and at a pace accelerated by complex financial finagling … all under the guise of nation-saving action. Rather than let the failing industries fail and the failed banks go bankrupt, the government is deliberately bankrupting the nation.

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