Gerald Celente: "Lets call this Greek bailout for what it is.. it's bailing out the European and the American banks that made big bets on Greek bonds that they're afraid are going to go belly up"

SIC SEMPER TYRANNIS!!!
Mark Matheny

The financial crisis in Greece has taken another dark turn as rioters have taken to the streets in defiance to "austerity" measures that have been imposed upon the people. Three bank members were killed during the riots when a bank in Athens was set on fire during the clash with police.

The riot came in the aftermath of a 24 hour strike that left thousands of flights grounded, shut down ports, schools, and left many hospitals understaffed.

Gerald Celente, a renowned trends forecaster predicts an economic collapse here in America before the spring of 2011. Gerald believes the collapse will not only come to the U.S., but will affect the other nations around the globe as well.

Gerald stated in an interview on RTNews May 5, 2010, that a second revolution is starting in the U.S.

" the second American Revolution has already begun, it began in 2009, on April 15th with the tea parties and the tax protests. They were laughed at by the major media. Then we saw it again in july of 2009, on the 4th of July, when hundreds of thousands of people took to the streets. We saw it at the protests for healthcare reform. We saw it with over a million people, nearly a million people marched on Washington on September 12th of 2009. This is going on World wide. The people are protesting.."

Gerald stated that the current Greek tragedy just happens to be another chapter in the protests against the "too big to fails".

One of the differences between the U.S. and Greece is the fact that we have a big printing machine that can spit out more fiat currency and thereby can offset the crisis for a while. Greece does not have that option. But of course this is only a temporary fix. The result is more money in the form of taxes, and in the case of Greece, austerity measures in the form of a VAT tax to pay for the looting and fraud by wall street, the Fed, and other foreign banks and investment agencies that were in collusion to make gross amounts of profits at the expense of  the middle class worker.

Gerald Celente also stated during the interview that the reality is that the bailouts are at the expense of the people to cover for the "too big to Fails' who created the crisis.

"But the overall reality is that the people are saying, what is this bailout all about, and who is responsible for funding it? And it's falling on the backs of the people, just like in America where they taxed the people to bailout the too big to fails, Lets call this Greek bailout for what it is.. it's bailing out the European and the American banks that made big bets on Greek bonds that they're afraid are going to go belly up. And the people don't want to shoulder the burden, and we're going to see these kind of tax protests and revolts go worldwide."

Although the mainstream media, and the current administration has put every effort into reassuring the American people that we are on the sweet road to recovery, Gerald Celente isn't buying it.

Refering to the "recovery",Gerald stated:

"It's a temporay bailout, as we said,..the United States in 2009, and early 2010, has spent, lent, and guaranteed over $11 trillion dollars. This is fake money, it's phantom money, printed out of thin air, backed by nothing, and not worth the digital...paper it's printed on. So we're going to see this collapse as the stimulus collapses. That's what happened in Europe. As they started to unwind the stimulus, as they attempted to raise interest rates, the economies start to fail. We're goin to see it in Spain. We're going to see it in Portugal, we already see it in Latvia, the Ukraine, in Hungary, in Ireland. It's going global, there's no stopping it, and the people are going to revolt."

What it seems to amount to, is Wall street and the Fed being the Big Bad Wolf that knocked the down the brick house, taking all the bricks away from the little pigs (us), and then asking the little pigs (us) to not only provide more bricks, and rebuild the house, but also allow them to safeguard the same house they blew down and ran off with in the first place!


In the case of the United States, we currently now have an "official" rate of unemployment at 9.7%:

Source: http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?data_tool=latest_numbers&series_id=LNS14000000



The National debt is currently at $12,900,000,000,000 and growing at a record pace!

The  "official" unemployment amounts to 15,161,485 (B.L.S U-3), and actual unemployment is at 26,266,901 (B.L.S. U-6).

In December 2008, SNAP/Food Stamp participation was 31,784,453 people, whereas now we currently are at  40,819,222 people on foodstamps. This is an increase of  9,034,547 in less than 17 months!! How's that a recovery?

On the international scale we also see a dramatic increase in unemployment rates, as all the banking institutions, financial markets, and the corporate media attempt to convince us of the "recovery" coming along so nicely. Here's a chart of international unemployment rates from 2008:

Unemployment includes all persons who are (1) not employed, (2) available for work, and (3) actively seeking work. The unemployment rate represents the percentage of persons in the labor force who are unemployed and is one measure of an economy’s unused labor supply.

Seven of the European countries had higher unemployment rates than the United States, with the highest rate in Spain. Source: http://www.bls.gov/fls/chartbook/section2.htm#chart2.13
 
Here's two charts showing the increase of unemployment globally from September 2008–February 2010  as a result of the economic crisis:
 
CHART 1. Monthly unemployment rates adjusted to U.S. concepts, 10 countries, seasonally adjusted, September 2008–February 2010

Click chart to enlarge


CHART 2. Monthly unemployment rates unadjusted by BLS, 10 European Union countries or areas, seasonally adjusted, September 2008–February 2010

Click chart to enlarge


Source: http://www.bls.gov/fls/intl_unemployment_rates_monthly.htm#Rchart1
Revolution is a classic event that has happened throughout history when governments begin to overtax, over spend, and over police a nation of people. " This is a classic example" said Gerald "of what happens throughout history as the too rich get too much, and the rest of the people are taxed to pay for their over indulgences."

As we see more bank failures, bailouts, and foreclosures etc. Celente says we are likely to see the same actions here in the U.S. that we are currently seeing in Greece. This collapse will certainly become global once again.