TRENDS FORCASTER GERALD CELENTE: "THE BANKING SYSTEM IS COLLAPSING WORLDWIDE." "HOW LONG WILL IT WILL LAST IS A GUESS." "GETTING OUT OF THE EURO AND INTO THE DOLLAR IS LIKE JUMPING OUT OF THE LUSITANIA TO TAKE SAFE BOARDAGE ON THE TITANIC." "THIS IS A GLOBAL CRISIS." "THERE IS NOWHERE OUT." "THIS IS NOT A GOLD BUBBLE." "GOLD PRICES WILL CONTINUE TO ESCALATE."

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Gerald Celente on Old-Man Europe, Romney & Sons, and a Golden Summer 

http://youtu.be/ynsAFg4ovCo

Published on Jun 22, 2012 by CapitalAccount

Welcome to Capital Account. Germany and Greece faced off today in the Eurocup 2012 with German newspapers pushing headlines like "bye Greeks, we can't save you today." But can anyone in Europe save the monetary union from itself? Mario Monti, Italy's technocrat prime minister says there is only one week left to do it, but looking back at older headlines, it appears there have been many times Europe had only "one week left," or "ten days left." What's up with that?

And while we are on the topic of déjà vu...more ratings downgrades were issued yesterday. This time, it was Moody's downgrading 15 of the largest global banks, and its become a bit like white noise. We get it, worries are widespread, so the question is where is the safest place to hide from the tale risk of a worst-case scenario? Will we see another credit crunch, or is the best case just more "muddling through?"