Trend forecaster Gerald Celente, known for accurately predicting the global economic collapse years in advance, has long advocated gold ownership as a way to preserve and protect wealth during times of economic strife and political distress.
When MF Global collapsed a couple of weeks ago Celente was among the tens of thousands of clients that had funds from their personal accounts allocated, without their permission (and perhaps illegally), into MF Global trading schemes. We detailed the lawlessness and lack of ethics and morals in Bigger Than Solyndra: Over Half a Billion in Customer Funds Disappear Under Obama’s Top Wall Street Finance Man. The CEO of MF Global, Jon Corzine, a financier for the Democrat Party and a close political ally of President Obama, essentially wiped out the savings of thousands of people – and no one in Washington seems to care.
Those funds now seem to have been locked and it is unclear whether they will be liquidated as part of the company bankruptcy or returned to customers in full. Celente was using these funds to purchase contracts for December physical delivery of gold – essentially, he was in the process of putting in an order that was to be later redeemed for physical gold.
In the following RT interview with Celente, he discusses his experience with MF Global and how they went about robbing him and many others.
They took [my money] out of my account… it wasn’t being traded by anyone… this is like having money in a bank account.
They took my money out of my account – six figures – and they have it, they closed out two of my positions and I can’t get any answers and I can’t get my money.
…
My money is gone and about 150,000 other people… We can’t get any answers from them.
He’s (Corzine) raising what – he’s having dinners for Obama at $35,000 a pop. This guy is sitting at the casino making bets 36-to-1… and he’s cleaned out and ruined a lot of people.
…
So maybe the name M – F… I’m thinking the first word of MF is “Mother.” And we can put the other word in there and you can use your imagination, because that’s what they’re doing to everybody.
With respect to his gold strategy, Celente says that the gold contract purchases (essentially paper gold until it is redeemed) is only part of his overall strategy,
I do both. I buy for possession and I trade for possession.
…I also buy gold bulllion, I buy gold coins, but this is another way of investing. And always with the intention of taking possession.
All of us require unique investment vehicles depending on a number of factors like our income, goals, and world view. For some this may mean paper-based investments, whether it’s stocks, bonds, commodities or currencies. Every investment type carries its own risks, and as such, we recommend to all of our readers that you maintain a diversified investment strategy that covers a host of different assets.
Gerald Celente may have lost six figures in the MF global collapse, but we’re confident that he doesn’t just talk the talk, and that he’s taken his own advice about diversification.
In today’s day and age losses are to be expected. The goal is to avoid a total loss in any single event by diversifying as broadly as possible, regardless of whether we’re talking about precious metals, stocks, real estate, cash or disaster preparedness supplies.
Hat tip 123 Feel Better, The Examiner, Infowars, Russia Today
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‘Scuse me while I whip this out…
(Steroid enhanced) Baseball
(Hormone laced) Hot Dogs
(Genetically modified)Apple Pie
(Government Motors) Chevrolet
And now they’re just outright stealing from people. Is nothing sacred anymore?
Ohhhhhhhh My ;0P slurp @SmokinOkie “Mother of Gawd!” It’s it’s soooooooooooooooooooooo…………. small!
Must be the cold air…… ;0P pssszzt snicker snicker
Only you would look.
;0P it’s like lookin into the eye of gawd it is…
fuck you nina
;0p pssssssszzzzzzzzt
You are mocking GOD and you will awnser for that.
@Okie:
One problem I see in all of this… Celente willingly put his money in there, with those people.
Certainly, it’s a rip-off, and certainly, it’s friggin’ shameful.
Curious, though – I wonder if Corzine or members of his family stand a chance of waking up dead some morning after ripping off the wrong investor (say, some guy with links to certain gangs would lose a chunk of change in one of those schemes…) It’s certainly not a safe game to play, even for a figure that may have a president under his command.
All that aside, the best bet for the investor is to avoid those risks by sticking with reputable brokers who have a long and honest history. After all, TANSTAAFL…
See, that’s the thing. MF Global was supposedly well-respected. They had a huge portfolio, etc, etc. Just goes to show that you can’t trust anyone these days.
Dunno… portfolio size doesn’t mean too much, and is too easy to fabricate.
I was thinking longevity here as the biggest indicator of reputation (among others). Investment companies (with very, very few exceptions, e.g. Madoff’s outfit) don’t stay around for very long if they rip off their clients like that.
Open an account with Johnson Mathey. Buy your gold, silver, or platinum from them on the dips.
They will transfer it anywhere in the world where they have an office.
Just saying.
Unless you can hand them FRNs and them hand you gold at the same time, there is always this risk. I suspect that this anal raping won’t break Celente, not that I am defending the rapist Horzine.
1 Come now, ye rich, weep and howl for your miseries that are coming upon you.
2 Your riches are corrupted, and your garments are moth-eaten.
3 Your gold and your silver are rusted; and their rust shall be for a testimony against you, and shall eat your flesh as fire. Ye have laid up your treasure in the last days.
MF Global WAS a reputable broker, as you called it. They ILLEGALLY took Celente’s separate monies and speculated on it without his permission. I guess you could always keep it under your mattress…THAT would be dependable!
@gereld celente ;0P should have taken his own advice! The only pm’s you truly own are the ones you physically own , sitting locked in your basement floor vault , and even then they’re only yours as long as you can protect them from your thieven’ neighbors! 90% of the time the person robbing you is someone you know and see daily…
arm up stock up prepare
preditor or prey the choice is yours
For once, you say something that makes sense. Congratulations!
He is right in this case… if it isn’t in your physical possession and control, then it simply is not yours, and can disappear without warning.
;0) tee hee…
Even when it is in your physical posession it can be stolen by burglars and robbers.
or your landlord and property caretakers.
that would be why the part where he said “and control” was in there.
owning it is not enough.
Certainly – but at least they have to earn it, instead of swiping it with just a few remote keystrokes.
Yeah….I guess Mr Smartass missed predicting THAT trend….
SO, apprently not. The “white shoe boys” that Celente talks about (Banksters), had switched over to soft soled shoes and snuck up on him. These times are definitely the end of the innocence. I just am baffled that these people are still walking around and not leaking blood.
I’m wondering why he trusted the guy in the first place. In the second place, yeah, I agree… I’m surprised some of these sleazebags haven’t wound up getting killed by now.
Or wearing shoe’s like Hoffa.
Dems must be some kinda magic shoes, better than the ones that Forrest wore, cause ‘ol Jimmie ain’t never been seen again. Still running in them I’m sure…or still trying to tread water on the upper east side river.
There is no money. It is fake. So expect this to happen a lot more. If you can’t get your hands on it, it aint there.
http://www.fultonsheriff.org/
A link with no commentary is virtually worthless. What is the reason for directing us to this site?
@mr. blutarsky i honestly apologize to you guys… i had posted a suggestion we all help out that us marine in fulton co. atlanta georgia who lost everything… from the police shoot-out… with links and stuff and @mac slavo wont let me post it for some reason… my apologies sir’ … i’ll reword it and try later. ;0)
my thanks @mac slavo ;0) your a good man…
nina
why should we help this man exactly and who is he? i help myself first…. i feel badly for this man but for christs sake i cant help everyone.
This 2 purple heart Decorated 4 tour vietnam US MARINE David Sturdivant…
http://www.ajc.com/news/atlanta/charges-dropped-against-veteran-1223433.html
needs your help…
pls call the Fulton County Sheriff’s Office to donate what you can to rebuild this mans life…
Call the Sheriff’s Office at (404) 612-5100 in
Atlanta, Georgia for Information.
beware of scams. go through the sheriff office only…
They will help you send this Decorated U.S. Marine what he needs to rebuild his life after such a devastating life changing incident!
It’s time you marines here on this site to show you mean what you type here! This man needs your help…
Sorry, Celente, but anyone who entrusts their money with a firm run by a former New Jersey limosine-liberal Senator and governor, a former Goldman Sachs CEO, and a prospective Obama Secretary of the Treasury, shouldn’t be surprised to be ripped off.
Just remember John Paulson.
Get out of U.S. dollars and any paper instruments denominated in USD’s. Get out of IRA’s, 401K’s pension plans, stocks, bonds. Convert your USD holdings to gold and silver coins. Lindsey Williams explains what the big banks and their criminal accomplices in the U.S. government have planned for U.S. citizens in 2012. It’s a long interview but well worth the listen.
http://www.youtube.com/watch?v=Ok9JwiXLTlA
The interview is pretty long, but much of what he is saying most here have known in their gut for a long time. Keep a few FRNs in your local bank until TSHTF so you can pay your bills. I’d recommend the silver eagle or junk silver purchase since it is within most people’s financial reach. Good luck to you and yours Paul!
Gosh…I’m glad I’m not wealthy.
Evidently that’s a result of doing business with these politically well connected people.
if one person has and another with any remote sense of power sees it, the latter will make every effort to “redistribute” to himself what the former has… the moral fibre of America has decayed to point of there being nothing left but a rotting, stench-emitting stump… but we laud ourselves for having “separation of church and state”, for turning the judicial system into Gestapo goons creating unConstitutional laws from thier decisions, for removing any vestige of morality and human decency from public life – i.e. destruction of real marriage – and calling it “freedom” which is nothing more than enslavement to hedonistic lusts… our very structure of the rule of law comes NOT from the mistaken and erroneous philosophy of the goodness of man but rather the truth of the goodness of God which is intended to be demonstrated between men…
gawd damn preacher … ya make me wanna go to church! almost ;0p pssszzt , GREAT POST though ;0)! Keep em’ comin you definitely have the gift!
Pretty spot on preacher.
Joe Corzine will get a: “get out of jail card” and still live on Park Avenue.
To many CREEPS in this world.
But he better watch out for those tub accidents,huh.
Never know when somebody could have a “John Lennon” moment.
Life for the general public has to open to vast conclusions, thus, leaving all to the GOVERNMENT to do as it seems fit. How does anybody think they are safe in an environment that is made up by the government for the government?
It these people that must be held accountable for all the major corporations backed by the government that are now falling like dominos.
Sports aside, the players are getting so much for their talents(?) that the public will be held accountable if the organizations start failing, ex. Basketball this season is over and all the individuals that have tickets, box seats etc., are SOL. As an athlete, I would love to see salary caps at 100K to 200K MAX. If the player’s don’t wish to play for this amount, go to work a Mickey D’s and dream of the money you could have had.
Investments are just that, short and long terms are just a gamble. Stealing your hard earned money should make the liable companies held responsible to include draining all assets, accounts for all family members that have money liquidated into vast accounts under various names, yet remain in complete resolution of the major Owner/shareholders.
We as taxpayers for the last several decades are now SOL for the future we were under the illusion of government back assets. WHAT FUTURE! The only future we can expect is total collapse and possible genocide.
Its shit like this that will get someone killed, you blatently steal from these rich dudes and your number might get pulled.
oh well you play with fire, yer gonna get burned
funny though how he can predict the future but he didnt see this comming?..ist that just a bit ironic?
Celente has never been specific about his predictions. Remember, he predicts trends. …and I think this is one he’s predicted: the exposure of the corrupt nature of the bankster bizness.
But, Celente, like all of us, only has a little bit better clue as to the nature and speed of these things. He predicted the collapse of commercial real estate years ago but its never happened. Its come close, but no cigar.
To me, guys like him (and I *LOVE* his attitude) are just another reliable source of information. There is no crystal ball in his possession.
yep I realize that..but still makes you wonder why he would risk thast much skratch with those crooks, knowing what he knows
Corzine is on the inside as a former US Senator and CEO of Goldman Sax. Celente on the other hand is on the outside. Wealth and power are relative. Consider Corzine as a lower level “made man” and Celente a businessman. Both have money, one has real power.
I think Corzine becoming a paraplegic, not dead, would be a great message to others.
I’ve often wondered… Why havn’t all psycics hit the lotto?
Will someone explain to me what happened? Where did the money go? How could they just take the money? Where is it?
@lynda , they used the money lynda to pay themselves and other m uther f ing global insiders back for loses they had in the markets. It’s like you taking the money from your kids savings account and putting it into yours , so you can buy some more lotto scratch tickets or play the powerball!
It’s an illegal transfer… someone is going to jail eventually for a P R show! The rest will get away with it! Scott Free!
“The Easiest Way to Rob a Bank is to Own One!”
Well, his first mistake was putting his money in the safekeeping of a firm run by a socialist weasel. Second mistake was trying to play games speculating on precious metals. If you are going to buy gold, buy gold. The reason you own precious metals is not to get wealthy, it is to preserve what wealth you already possess from the actions of central bank criminals and fraudsters like Corzine.
exactly… well said!
Maybe he did it HOPING something like this would happen and he could profit from the event.
Sorry but I find this extremely ironic as well. I love this site and I also have preped but hearing so much doom and gloom and predictions of this and that happening and then nothing really happening makes me more weery (sp) of these doom and gloomers. Webotts has called for a lot of things and haven’t seen many come true. Market collapse has been called for month after month for the last year. (just my 2 cents)
Agreed
Crying gloom and doom drives the believers to the sights..period..it’s great copy..it sells.it creates a market for long term survival food companies that charge exorbitant prices for the same foods we can all prep for pennies on their dollar..
It has become a lucrative industry on the web with thousands of retail sights/seminars/web conferences selling protection from the oncoming disaster ..if only you subscribe..and pay dearly..
At least Celente sounds the warning bells of what he perceives geo-politically..and is usually correct in his summations and forecasts..but no one knows exactly when and how it will play out..
I’ll listen to them all and then sort out the info with my own fact checking and future references..
Indeed, something ugly is headed our way..
I’ll stick to canned/dried/water/ and ammo..
@johnf:
Ever read Gibbons Decline and Fall of the Roman Empire? It took centuries for Rome to fall. You’re out because the markets have taken more than a few months to collapse? LMAO.
Look at the macro environment and tell me how this story has a good ending.
Cheers,
Mal
This, right here.
(and yes, I’ve read it.)
Just one caveat: Rome took a long time because things ran a lot more slowly back then, and most citizens and subjects lived off the land. Population densities were lower, and in quite a few cases, the locals saw the invaders as liberators from overly-heavy Roman taxation.
Nowadays, once it all begins to drop, it’s gonna drop hard, because it means a lot of rather fragile supply chains will begin to break. The only real question is, when, and how badly?
OQ:
C’mon, man… No analogy is ever perfect. 🙂
I used it simply to highlight the fact that the guy seems to think prepping is dumb because the markets haven’t collapsed within the past year. Death of a thousand cuts is one possible ending for all of this. It could take years. Since it’s inevitable one way or the other, it’s only logical to start prepping now. I don’t get this guy’s logic at all.
Maybe he’s RICH99’s neighbor?
Have a good one,
Mal
@odd questioner … first respect sir’… good post… question for you pls… as the interstate food distro systems fall… doesn’t that just cause local suppliers and businesses to pick up the slack… causing our economy to revert from an import only to a local domestic by horse and wagon like pre industrial – 1920’s!
see my point… main street america will simply just pick up the slack with local manufacturers and producers is all… RIGHT??? Or am I wrong???
this crash might just be a good thing…?
So after all the “gloom and doom” we get a real instance of market collapse and you find it “ironic”. Two cents….that’s inflation…
well when they do their spin and change the inevitble who knows when it will happen.
The biggesst fact is HISTORY.
Study your history backto Roman times.
It repeats itself as our leaders are not the brightest.
The inmates are in charge of the asylum!!
It doesnt look to change anytime soon by the looks of candidates I see!!!
I believe the word you are looking for is leery not weery.
Meh, he could have meant “weary”
Call the psychic hotline… Oh yes they went bankrupt too. Lol
the company went bankrupt. in bk the court appt trustee siezes all assests and then figures out what goes where. the creditors come first. I’m not sure of GC would be a creditor or considered an asset due to the nature of the funding. That’s up to the courts. He could lose it all if the trustees decide his money was an asset.
He would be considered a creditor, I suspect. Problem is, he’s going to be waiting at the back of a very long line, right behind creditors who have well-paid lawyers.
Ten cents on a dollar if your second or third. “Orphan money”, I’ve heard an old farmer call it.
I’ve said before; don’t listen to anyone, go by your gut and do your own homework. Watch the deficit grow, pay attention to the price of food, stay in tune with what is going on in the middle east, and be prepared for a huge natural disaster. These are all things that can devastate our own lives; if we are not informed and prepared for the outcome.
Old school; count on no one but yourself. These clowns and prognosticators are just a bunch of ego maniacs that will make money off of your fears, and reactions to what they have to say or predict. Common sense tells you that things are pretty bad and anything could happen.
I like Gerald Celente, I really do, but in this case he didn’t follow his own advice. He always preaches owning “physical”. Why then was he investing in non-physical, which he says is/will become worthless – at least in this case his prediction was accurate … for him.
LOL. The trends predictor blasting the banksters but playing the same game. Celente is a regular guest on RT, thats Russia Today, a commie news network bent upon the destruction of the USA and capitalism. Celente will blast the US dollar, but thats the only payment he accepts for his fish rag, and then he plays the gold futures game just like the corrupt banksters. So why didn’t Celente predict the downfall of these corrupt banksters? Because Celente can’t even predict when he will be taking his next shit.
RT russia television is pretty much the most reliable news out there for now… No one else even comes close to covering half as much as they do and atleast the Chicks are Real Women and Not Plastic NEOCon Media Whores like FUXABCCBSCNN news!
RT Rocks! keep it coming ya Commie Bastards! ;0)
Say what you will but Megan Kelly is HOT.
There are three things you don’t mess with
1) Never mess around with another mans woman
2) Never mess with another mans Pride
3) And you Never ever ever mess with another mans money…..OR THE MAN IS GONNA MESS WITH YOU!!!!!!
your missing one… the most important 1 one of 4 four, ask @ms. daisy what that is… ??? And then ruuuun for cover! ;0)
Tell Em’ D d d d Daisy! ;0P pssszzt
Twisted
“3) And you Never ever ever mess with another mans money…..OR THE MAN IS GONNA MESS WITH YOU!!!!!!”
Historically those that saved and invested significant money are ultra law abiding. Millions of people lost about a trillion dollars. It’s obvious that unethical if not down right illegal moves have been made by the financial industry that have cost Mom and Pop investors upwards of 50% of their life savings not once but twice in a decade. Everyone just grins and bares it. It has to do with the law abiding nature of people so inclined to save for the future. Criminals on the other hand have zero thoughts about the future and kill each other over $5. The law abiding accept the loss of several hundred thousand dollars even if it’s done illegally or unethically. They may sue someone but that’s just the way it is.
Oh these same law abiding might fight over the woman however.
Trust NO ONE when it comes to your money!
I only trust myself to invest and keep my investments close and liquid.
This should just PROVE what will appen to millions more with 401’s,IRA’s and pensions.
Dont say you werent warned!
Digger,
I like and agree with your comment. One thing is for certain is that by doing what you are doing you are accepting responsibility for your actions, and not blaming others. Kepp preppin.
Will U.S. Army Be Used to Crush Public Resistance?
http://americanfreepress.net/?p=1377
ya’ll might wanna check out…
bulletproofme.com
this sheeeeit is gonna get “Real” eventually!
I alraedy know my pension is a gonner.I prepared mentaly
as the ponzi scam clearly rears it’s ugly head by the day.My co workers think i am doom and gloom and tin foil hat material.They will be in complete shock and awe and some will snap.Esp 25 yr folks ready to go within next few yrs.
I think whether your pension is toast or not greatly depends on what measures TPTB take between now and when you can access your pension. If you (and many others) are lucky, you will be able to get you hands on it before the whole house of cards blows over onto the floor.
I’m surprised that Celente didn’t know better. I feel bad for him. No one deserves to lose that kind of loot.
If you listen carefully, he masn’t with MF directly but another brokerage that happened to be owned by MF.
He was planning to take delivery of physical gold in Dec. I wouldn’t want to cross a mad Italian in any case.
I have said for years that I could not understand why none of the banksters haven’t been offed a long time ago!
Regards, James
It’s going to get real ugly……keep preppin’
I hate to see this kind of thing happen to anyone. What really pisses me off is that no one has been grabbed & tossed in jail yet. The blatent theft of anyone’s investments should be met with swift action. That this is almost a “non story” is even more frightening. I guess the Lame Stream Media figures that we are used to this kind of stuff after Enron & Bernie Madoff ! Where is the real public outrage ? Is everyone so disgusted that they just don’t care…..or are they too busy watching American Idol ?? How much more is the American Public going to stand before they rise up & take control of this run away train ? This is a prime example of why you have to be in control of your own destiny. Whether is is food, shelter, or finance…..you can not trust others. We still have time…keep on Preppin !
Montgomery County Texas
They took all of the coconuts down from the tree so “nobody” would get hit in the nogin while reading the teleprompter.
Where is the real public outrage ?
haven’t you seen any of the OWS people standing up and getting roughed up lately ????
4. Don’t mess with a man’s dog/s.
5. Don’t mess with s man’s guns.
These were serious things, faux pas, to do back on the farm. It should be the same elsewhere, and you better remember.
MF Global tried like crazy to get another institution to help prop them up so the fast and fancy hand game they had played with investors money would not be found out -just trying to buy themselves more time. When the other institution saw what wasn’t looking right, they declined and MF Global filed for bankrupty insurance. Then the truth of what they were up to sufaced -and people were actually surprised by this after all we have seen the corps. are capable of!
Remeber what the Nazi’s did with their “political enemies” assets, homes, money, etc.? Well, the bankers/government are doing this now to us, bit by bit. The difference is that we have not been shipped off to the camps or shot and thrown in a ditch yet.
Watch out for local sellers of gold and silver bullion. A portion of them are absolute scoundrels and thieves. Check to see if they are part of the BBB of your state. Look at reviews of them on Yahoo. Check their feedback. Know the spot price before you go in the establishment. Ask them how much they charge over spot. The price can change but beware of scams. In one place they “forgot” to get one of the coins. In another place they increased the price from the time of the quote upon entering, to the the time the silver was rung up at the register. And if you have a bad experience, make sure you evaluate the company online. Some places in Texas have an absolutely appalling lack of professionalism. Others are quite good. Some places try to put your name in their data bank. Take care of yourselves and God bless.
We are coming to a cliff in world society. The events happening around the world are coming at a faster and faster pace.
This speed of distruction for the common man/woman is a distraction. IF you are distracted, you can not see what is coming at you.
When the comet hits your world, you are devistated and unable to determin where it is coming from and therefore, can not point the finger of justice or get justice.
That is why it is so important, at times like this to focus on your world. Focus on your survival needs and make sure that they are met and that you can protect yourself/family and preps.
If you have money in banks, stocks, bonds, 401Ks, debt…your chance of getting at them in the future are next to nothing.
God bless and keep on prepping.
Mona,
I agree with you. The events happening around the world are coming at a faster and faster pace. I am also finding it difficult to focus.
I just read an article about “healthcare” plans.
Next Item On Obama Agenda: Live Patients as Organ Donors
“The proposed requirements signal that hospitals and healthcare professionals can now relax ethical concerns and safeguards in favor of pursuing a utilitarian ‘higher good’ of obtaining a greater number of organs for transplant,”
(visiontoamerica.org/5583/next-item-on-obama-agenda-live-patients-as-organ-donors/)
Does anyone remember when the S & L scandal shocked us??
Does it seem this is an everyday occurrence now??
Hi guys and gals.
I have some big news from my shithole. Third biggest bank in Lithuania went down over the course of 2 hours! Me and my mrs went to the city to check son with the doc, when we returned the news hit it!
bank Snoras was nationalized, bank CEO’s fled abroad, no one can withdraw their money. panic is overwhelming. other banksters try to calm things down by saying – “don’t worry sheople, it is only one bank…”
I’m so glad that my mrs listened to what I said about banks, and most of our assets are now buried and safe as in bank… oh I meant to say safe as in my pocket 😀
yipikayay MF!!!!! S is about to hit the FAN!!!!! I’m so ready, I’m so ready, eagerly awaiting
The rich steal from the poor!
The filthy rich steal from rich and the poor!
There are no rules for the ones that make the rules.
Hold on to your asses!
“Trend forecaster Gerald Celente, known for accurately predicting the global economic collapse years in advance”, I disagree with this statement. He predicted sometime in mid 2010 that the 4th quarter 2010 would see a major economic collapse. It DIDN’t happen. He predicted several weeks ago that October of this year would see a major collapse. It DIDN’T happen. Well, I guess it did happen in the sense that he lost a fortune through MF Global. I have heard Celente say (brag) that 80% of his fortune was in gold. Your comment regarding diversification is spot on. Even if someone wants to be 80% invested in gold thay should use multiple companies to invest through so if one fails like MF did they still have other assets. Furthermore, if it isn’t in your hand, or posession, you don’t own it.
This may be a silly question and may have already been covered. But what about precious stones? Should they be sold for gold and silver or kept or does it matter? Thanks everyone. 🙂
In a SHTF scenario they are next to worthless. Who can verify the if they are genuine? Anything in a SHTF happening must be reconizable,immediately verifyable,etc. Like US coins etc. God Bless, James
Thank you James.. Very good point. I think I’ll keep them anyway for centimental value. 🙂
James makes a good point (thanks, James). I would add, however, that in the case of a Argentinian style collapse, where it is “just” mass or hyperinflation, there would still be businesses open that could verify the genuineness of the precious stones. In a more serious collapse, James is exactly spot on, and in a complete collapse where food wasn’t available, even then gold would be useless. IMHO, one should have layers of protection, starting with the basics of food.
I, too, am thinking of doing precious stones in the future. But for certain I won’t trust to “paper” stones (somebody else’s promise to pay/keep them). The goal here would be that even in the extreme case they confiscated gold, would they confiscate diamonds,etc? Probably not. Besides, I think they will try other scams befor going to gold (e.g., confiscating 401ks, forcing us poor, unwashed masses to purchase US treasuries (google Theresa Ghilarducci if you want a real scare – she wants everyone to turn over their 401ks for a guaranteed annuity – as if we just didn’t see our social security we paid into evaporate! These horrible people have power and complete ignorance.
In sum, IMHO, precious stones could be diversification, more for a non-catastrophic collapse. However, IMHO, silver is the best buy right now.
…Or we can arrange storage for you…
Thank you for your insight. First I have all my valuables in my physical possession. I was just curious what anyone thought here. My grandfather gave me most of my gems as birthday presents up untill his passing. He owned a mine and had all the tools to polish and cut the gems. It was his hobby lol. I never did anything with them but have been thinking of selling them in recent years. But I think I’ll hang onto them. 🙂
@lennea… hold onto your stones ma’am… just as in every society there will be those enterprising traders who have money to burn or supplies to sell you… alot of wealthy folks are buying art and other such investments and storing them underground! Hold onto your jewelry and stones, all ladies need their accessories!
One of the dang chicken feathers around here must have gotten up my nose, Ah..Ah…HAHAHAHAAHAHAHAHAHAHAHAH-CHOO!
“just like having money in a bank account” PAY ATTENTION people! Never have money in a bank account you can’t afford to lose! Old 1930s saying! I’ve got $35 or so in a bank account right now and I may go take $20 of it out today. IF they take off with my $15, then *shrug*.
they are crashing everyone’s savings because that way we will all be the same. They will either redistribute the wealth to the people they see fit to have it or they will make your wealth disapear.
If that happens, then with nothing left to lose, the people will make the bankers disappear.
Wow! More corruption from Obama’s Chicago cronies, corruptocrats and Chicago crooks. Who woulda thunk. Hard to keep track with MF Global, Solyndra, Tonopah Energy, Fast and Furious, ad nauseam….
sounds like a few people in these financial scandals ought to be worryin about finding dead horses heads in their beds…or worse.
This case illustrates the simple fact that – as Fyodor Dostoyevski wrote (paraphrased) over 100 yrs ago:
“If there is no God, **everything** is permissible.”
Welcome to post-Christian, everything is relative Obama Amerika, comrades
Celente didn’t LOSE s**t!! It was stolen.
As he said, it wasn’t being traded; it was like being in a bank account.
So there!
This seems so contraindicative of what Celente preaches (for him to inviest in this type of thing).
Does anybody else wonder if this is a publicity stunt? I know that would be a ridiculously high amount of money for me to lose, but how much will it hurt Celente?
I’m the double stuff!
How in the world did Gerald miss that trend? The trend of putting your money into a risky company and not faring too well. I thought he always preached to hold gold and silver physically. I think if nothing else, Gerald learned a valuable lesson here. He has been right about many things and we witness those events everyday – such as OWS. I’m still waiting for the food riots and a run on the banks and total financial collapse. It may be down the road and not too far.
Like he said, he’s been doing the same thing since 1978. Obviously he fell asleep at the wheel and went into the ditch.
Trust no one. What was gc thinking? “Good as the paper it is written on.”
NEXT UP…..THE GOVT. TO NATIONALIZE 401K. Just put the min. in to get the employer match. If you can trade stocks…. buy cef. Allocated gold and silver in canada.
Else…buy physical metal.
Talking Bears video on paper metals
http://www.youtube.com/user/MrSilvergoldsilver
question is will jon corzine ever go to prison? not very likely.
Cry me a river, Celente. As Otis says above, you had three blazing red flags that Corzine was corrupt to the core: 1) Former Lib-Dem NJ Senator AND Governor; 2) Former Goldman Sachs CEO; and (biggest of all) prospective Obama Administration Secretary of the Treasury. You, sir, of all people, should’ve known better.
They won’t stop coming… till we start shooting….
I genuinely feel badly for Mr. Celente. No one should have their property stolen by anyone. My questions for him are: 1) why did you invest in futures contracts at all when you could have just as easily put that money into physical metal; and 2) what are you doing about the theft of your money? Can we say class action law suit?
I’ve listened to Celente numerous times, including the MF Global ripoff. He has never mentioned if there is a class action suit in the works. I believe the Obama administration is more corrupt then the previous one. “W” was to dumb to know what was going on, he was told what to do and say. Obama doesn’t have that problem,he participates with full knowledge. Corzine is a fund raiser for Obama and a close ally, this whole affair is totally illegal and heads should roll.