Gerald Celente Warns Of Economic Collapse

When these protests turn to uprising and riots because millions of people can no longer keep a roof over their heads or food in their bellies, you can bet that those involved will be dealt with swiftly and behind the cloak of terrorism secrecy laws like the National Defense Authorization Act which essentially gives the government the right to detain anyone, for any reason, for an indefinite amount of time.

But the real question here is, why would the government need laws like this?

Why would they be war-gaming and simulating economic collapse scenarios and civil unrest?

Why are they continuing to borrow trillions of dollars from foreign creditors and injecting the domestic economy with tens of billions of dollars on a monthly basis?

The only plausible answer, given the current economic climate in America and sentiment on Main Street, is that the authorities at the highest levels of our government know that something very bad could happen.

And they confirmed this in two letters issued by two different Treasury Secretaries over the last several years. Most recently, the Treasury department noted that failure to satiate our nation’s never ending appetite for debt would have a “catastrophic effect”on our economy:

Credit markets could freeze, the value of the dollar could plummet, US interest rates could skyrocket, the negative spillovers could reverberate around the world, and there might be a financial crisis and recession that could echo the events of 2008 or worse.

Not only might the economic consequences of default be profound, but those consequences, including high interest rates, reduced investment, higher debt payments, and slow economic growth, could last for more than a generation…

The fall-out from our current economic climate is going to be unprecedented. For those who deny this is happening, understand that the above warning comes directly from our Treasury Department. They’re the money guys. And they are telling us what’s going to happen.

And be assured it won’t just be stock markets that drop precipitously.

What we’re talking about here is the collapse of the economy of the United States of America – the richest nation on Earth.

The consequences will be devastating on every level and those of us on Main Street will be taking the brunt of the impact.

Imagine a situation where jobs continue to be shed by the hundreds of thousands every month without abatement. A situation where the price of basic essentials like energy and food rise without restraint. A situation where medical care is so expensive that average Americans will go bankrupt trying to pay for government mandated coverage. A situation where whatever money you do have in savings becomes worthless because our currency loses credibility around the world.

This is what’s happening right now.

The scary version: There is no way to turn this around. It’s just going to get progressively worse.

If you haven’t taken steps to prepare – to insulate yourself for an economic end of the world as we know it – then life for you and your family is going to be horrific.

This is the depression.

This article is brought to you courtesy of Mac Slavo.

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