Are The Prophets Of Doom Right About Major War, $200 Oil, $2000 Gold And Dow 5000 By The End Of 2012?

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Are the “prophets of doom” right? Is a major war going to erupt in the Middle East? Is the price of oil going to $200 a barrel? Is the price of gold going to hit $2000 at some point over the next two years? Is the Dow going to drop to 5000 by the end of 2012?  Right now there are some very respected financial experts that are making some absolutely stunning predictions.  Charles Nenner, Gerald Celente and Lindsey Williams are all frequent guests on popular television and radio shows and they are all forecasting very difficult economic times over the next couple of years.  So are they right?


Well, only time will tell.  But it really is quite alarming that so many experts with such long track records are warning of economic disaster.

So what exactly are some of these “prophets of doom” predicting?  Well, let’s take a closer look at some of them.

In this first video, Charles Nenner, a former technical analyst for Goldman Sachs, tells Fox Business that he is projecting that a major war will start some time around the end of 2012 and that the Dow is going to plunge all the way to 5000….

In this next video, Gerald Celente of the Trends Research Institute tells Fox News that he is expecting a tremendous amount of economic chaos over the next couple of years and that he believes that the price of gold will rise to $2000 at some point.  For years Celente has been boldly proclaiming that “the Greatest Depression” is heading our way and what he is saying now is quite alarming….

In this last video, Lindsey Williams tells Alex Jones that his high level contacts have told him that there is going to be tremendous chaos in the Middle East and that the price of oil is ultimately going to be in the neighborhood of $150 to $200 a barrel.  Considering how correct Lindsey Williams has been in the past this is a very sobering warning….

But Nenner, Celente and Williams are not the only ones that are warning that economic disaster is coming.

Bill Gross is the manager of the biggest bond fund in the world, and he is acknowledging that his firm, PIMCO, is dumping all of their U.S. Treasury bonds.  Gross has been concerned about the state of the world financial system for quite some time and now his firm has made a very bold move.

Legendary investor Carl Icahn is so spooked that he is booting all of the other investors out of his hedge funds.  The following is how The New York Post recently described it….

The 75-year-old shareholder agitator announced yesterday he was shutting off outside investors from his hedge funds and returning all of their money, claiming he can’t stomach the idea of clients suffering more losses after a brutal 2008.

A lot of people in the financial community are running scared right now and we haven’t even had anything really bad happen yet.

But many average Americans have a really bad feeling about where things are headed as well.  A brand new Reuters/Ipsos poll found that 64 percent of Americans believe that the country is going in the wrong direction.

Of course regular readers of this column know that I have been discussing a coming economic breakdown for a long time now.  There is simply no way that the current system can keep going indefinitely.  We have been living in the greatest debt bubble that the world has ever seen, and that has enabled us to enjoy an unprecedented standard of living, but now a day of reckoning is fast approaching.

The entire global financial system is based on debt and speculation.  A mountain of derivatives that is so large that it defies imagination is constantly hanging over our heads and could come crashing down at any moment.  The entire continent of Europe is dealing with a major sovereign debt crisis that is growing worse by the day.  The municipal bond market is also on the verge of total collapse.  Now on top of everything else the price of oil is skyrocketing and that could cause a major economic slowdown all by itself.

The Federal Reserve and other major central banks have been doing their best to “paper over” all of the financial problems, but the bailouts can’t last forever.  At some point the Ponzi scheme is going to come to an end.

Once upon a time even if the rest of the world was having tremendous economic trouble everyone could still count on the U.S. economy to be a rock.

But that is no longer the case.

Every single month the U.S. government goes into even more debt, our state governments go into even more debt and our local governments go into even more debt.  Meanwhile, thousands of factories and millions of jobs continue to be shipped out of the United States.  Our economy is literally being hollowed out, and as Gerald Celente correctly points out, we are being rapidly deindustrialized.  We have become a nation that consumes far more wealth than it produces.  Every single month far more money goes out of the country than comes into it and this is draining our national wealth at an astounding pace.

The U.S. economy is becoming weaker with each passing day.  Hundreds of cities and towns across the country have been transformed into “economic dead zones”.  Our leaders are trying to convince us that a higher level of unemployment is “normal” now, but very few people are buying it.  44 million Americans are now on food stamps, and millions of American families are rapidly losing hope.

The Federal Reserve can continue to print trillions of dollars and the U.S. government can continue to borrow trillions of dollars, but anyone with half a brain can see that the end of the game is fast approaching.

Financial disaster may strike in 2011, 2012, 2013 or at some point after that, but the truth is that it is coming.  Our leaders can use all of their tricks to keep the balls in the air for as long as possible, but at some point they are going to fall.

So don’t dismiss men like Nenner, Celente and Williams.  Their predictions may or may not turn out to be 100 percent accurate, but they are most definitely on to something.

  • Our current economic cycle will end when the price per ounce of gold and the Dow Jones Industrial Average are equal. For example, if gold was $6000 per ounce then the Dow Jones Industrial Average would be 6000.

  • William

    The last 4 years of the second Clinton administration found the national budget in surplus with the national debt being paid down. There was even talk of eliminating the federal debt. In waltzes the Smirking Chimp and war criminal Bush, who gave the USA tax cuts that the nation could not afford, and who started an unnecessary war of choice in Iraq…. a war based on LIES. That is the true story of how we came to this point. The point is that we can still recover if swift and radical actions are implemented. But, those actions will NOT happen. Here is a good example. Just recently, Republicans DEMANDED that the Shrub’s tax cuts be extended, which added $858 BILLION to the national debt. All the while, Republicans are strutting and whining about cutting $61 Billion from the FY 2011 federal budget. A sixth grader can figure that out. Reduce revenue to the federal govt by over 8/10th of a TRILLION dollars, then crow about cutting $61 Billion. America is led by morons. YOU voted for these fools. You will regret that. Better have extra food, firearms, ammo, and precious metals… will need all of that.

  • Clinton’s surplus budgets weren’t really surplus at all. He used the excess money brought in from the social security fund to achieve an apparent surplus. Fact is, the US hasn’t run a proper surplus in decades, and now there isn’t even enough money in the world to get back to black. Nor is the SS fund even running surplus anymore!

    All the Fed can do is default on it by either monetizing it (as they are doing now) to make the debt worthless, or just stand up and say they are defaulting on it. Either way, the holders of the debt are going to want to swap their dollar holdings for something worthwhile, so expect everything of value, including the land you are sat on, to be gobbled up.

    Andrew Jackson said it would happen, and now it is.

  • mondobeyondo

    Lindsey Williams… that’s Lindsey Lohan’s dad, right?

    The sheeple will only listen when someone in charge or in command says there is a crisis. (i.e. Barack Obama or Hillary Clinton).

    Otherwise, it does not affect them, and they are content to watch who advances on American Idol.

  • A decline in the stock could occur as a matter of valuation rather than doom, gloom, oil prices, or war. In addition, if the Federal Reserve is slowing money supply expansion, they might also stop supporting the stock market.

    From Porter Stansberry:

    Stocks – They’re still too expensive, with the S&P 500 up around 23 times earnings. It’s not truly dirt-cheap until it’s selling for less than 10 times earnings (like in 1974), though 12 or 13 times earnings – like we saw in March 2009 – is cheap enough to get bullish about.

    From Claus Vogt:

    The slow down in money supply growth should be seen as another major risk for the economy and the stock market.

    The 3-month annualized growth rate of MZM jumped to:

    9.2 percent in October
    More than 11 percent in November
    More than 11 percent in December
    In January it was back to 6.8 percent, and now it’s down to 1.9 percent.

  • alex

    ok i have an ide ok so we know all these things are true right so…. my question now is why is it that the sheeple love american idol so much why the facination. it so stupid ive never been able to stomach an episode and yet to the sheeple this is headline news. but why

  • SmokyMtnlady

    @ William…It’s all Bush’s Fault…It’s ALL Bush’s fault!! WHEN are you people going to realize that this is OUR fault!!! WE THE PEOPLE have sat on our backsides and ALLOWED this to happen!!
    Like, oh my gosh, Dancing with the Stars is on tonight…WHO cares that we just borrowed another ba-jillion from China!!???
    My family and I are getting together with our friends and making plans to protect each other, and order food items in bulk to help keep the cost down…we have given up on the Government…we trust NONE of them! It’s all about POWER!! They have it…we don’t!

  • A Dodgy Bloke

    I am so sick of hearing left wing loons talk about Slick Willie’s Budget surplus. Sharoma is right there hasn’t been a real surplus for decades. LBJ didn’t want to raise taxes to fight the war in Vietnam and build the Great Society programs. So he raided Social Security and Social Security has been part of General Revenue since. You can make a valid argument that every president since Johnson it doesn’t matter if they have a R or a D after their name have helped bankrupt the USA, and stole your Social Security.

    And another thing do a little research.

  • Oh great I can’t wait to see both inflation and recession at the same time. The Interest on US bonds will need to increase to cover the risk. Plus there are leeches that suck all the people’s blood and the current crisis this world is facing!

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  • Paul

    Analyst at Goldman Sachs?
    He was the one who predicted the economic crisis in 2008?
    Or not?

  • thomas

    Soo…… can have your precious metals, I can see a time that tomatoes are worth as much as silver. I’ll stuff my survival package
    With seeds and ammunition.

  • Kyle

    So does anyone know how to fix this problem? Why won’t our leaders acknowledge something is very wrong? why won’t they fix it? People may be unwilling to give up their luxuries, but at some point the government could say “this is what we’er gonna do to fix this weather you like it or not.” People pull together in crisis situations, this wouldn’t be any different if the government was on board.

  • Hevanne

    When are Americans going to pull their heads out of the sand! The American Dream has been dead for a long time and most people do not seem to care until something disrupts Monday night football or the Kadashians. We fail to vote because its inconvenient then complain about the way things are run. The fact is our country is broke, our states are broke, and our citizens are broke. Most household operate on funds they do not have in the form of credit that they can not afford. What happens if the debts are called in? We fail to properly educate our children. Most American children couldn’t function without their cell phone let alone without electricity, gas, and running water. Ask your kids where chickens come from – if they answer “The grocery store” you have some education issues to take care of because they wont survive the times ahead. I was raised with the belief that families should hold at least 2 years supply of food, water, and toiletries as well as emergency supplies. It is time to get back to basics and take charge of our lives. Our government only works for all the people if all the people participate in it, today barely 37% of eligable Americans vote on a regular basis(
    I hear people saying “why dont THEY do something” my question is “Who are THEY” got news for you WE are THEY – it is up to the people to do something. If we wait for politicians to fix things we deserve what we get. Stand up – Be Heard – Get Involved!!! Before its too late.

  • Not long ago, George Soros told the European publication Spiegel that financial markets predict the future very well because they CREATE the future.

    In the article “Out of Control: The Destruction of the Financial Markets”, SP Online points out that deregulation has allowed the speculative sector to swell to some 40 percent of the market, at the risk of the real economy. It indicates that economic stability (on Main Street) does not generate profits (on Wall Street and elsewhere). The laws, or lack of enforcement of those laws, has created what I call “parasitical Capitalism”. Nobody how many pockets it lines along the way, it’s not a sustainable path because it rewards people who gamble and not those who produce or contribute actual goods and services. This is not what people think it is — “job creators”. If you think it is, I have three movies for you to watch: “Inside Job” (a documentary), the 1997 film “Devil’s Advocate” (a look at what human nature really looks like) and the classic 1970s film “Network”, which is where the phrase “I’m mad as hell and I’m not going to take it anymore!” hails from.

    Job creators = propaganda. Yes Virginia, it really is that simple: Volatility is what the derivatives traders want to see so that the financial industry coffers and their own compensation packages.

    The financial elite and our elected representative, by in large, want the American public to go (back) to sleep, even as the SEC and DOJ do little if anything to pursue the bad actors. The days of justice for the S&L conspirators and the Enron “playas” are over.

    If you want to know why the economy seems like a Mad Max scenario — and why it is increasingly uncertain worldwide — it’s because the financial market speculators have devised schemes to win on losing — your loss, their gain. In other words, the “moral hazard” that economists speak of is entirely relative. Thus, we have divorced what is good in 40 percent of the market from what is good for the remaining 60 percent.,1518,781590-2,00.html

    This whole idea that the markets are rational is rubbish, and yet in another article on ABC Greenspan says that Ayn Rand’s egotistical economic ideas still hold as true as ever:

    Rand’s role in this fiasco is definitely underrated — but it’s there clear as day when you look into it.

    If we should ever wake up to the hijacking of the (not so) free market it will have occurred, rightly or wrongly, at the hand of Ayn Rand’s ego-and-greed-are-good influence: “self-interested rationalism”. The problem, of course, is that what is rational for the bankers is destructive to the world economy. Rand was an idealist who, at best, did not comprehend that Objectivism would be come a weapon of mass destruction to the health and well being of the 99 percent.

    Conservatives, do you know who your values come from? Because they sure aren’t from our Founding Fathers, and they sure don’t support the Religious Right in particular. Here’s an eye-opener from NPR:

    Here’s our sole advantage, folks: WE OUTNUMBER THEM.

  • B. Mac

    Seeing this really woke me up to reality…
    We are going through a phase in our history, which could severely change our “Comfortable way of Life”!
    Change or Perish.

  • B. Mac

    I miss the Late Sixties & Seventies.