I have been listening to Celente on C2C for some time with great interest. Based on his predictions, and, of course, the predictions of other financial types who visit C2C, I took nearly all of my retirement funds out of equities and real estate funds in April, 2008 and placed them into TIPS, treasuries, and the money market, and a sizable chunk into gold and silver -- something I had never before done. I estimate that C2C saved me from at least a $200K loss (on paper of course) during the 2008 meltdown that really picked up steam in September, 08. The investments in bonds and the money market didn't make anything, but at least I didn't lose. (Well, bonds lost a little -- about 2%) The investment in metals though -- Wow! That investment alone made over $50K. So, counting what I didn't lose in equities/real estate and what I made in metals, I'm good to the tune of at least $250K.
Of course, if I had told any of my friends or colleagues that I made financial decisions based on C2C, they'd laugh me out of the room. They'd do that even if their portfolios were down by 40% while mine was up. I do know enough to not take everything I hear on C2C as gospel, but when virtually ALL of the financial experts are talking about the same things, and then I go to the morningstar or bogelhead forums and see experts talking about the same kinds of things (though they aren't nearly as alarmist), something begins to click in my head. So, whether Celente is a right wing nut or what, I don't care. He -- and the other financial guests on C2C saved my ass in 2008.
I went to the C2C Streamlink archives to get some dates for Celente; look at this description of the forecast that he gave on January 1, 2008:
"Kicking off the New Year, Ian Punnett hosted Coast to Coast AM's annual prediction show featuring psychics and prognosticators sharing what they see coming in the year 2008. In order of the guests' appearances, here are some of the highlights: Trendcaster Gerald Celente: 2008 will bring an "economic 9-11" in which big financial firms are going to collapse from the top down. As greed and corruption are seeped out, there will be great opportunities for entrepreneurs to move into the failing system. With the rise in food prices and property taxes, people can no longer afford things, and will revolt against the current tax system..."
I mean, call him what you will, but how many people went on MSNBC or Fox Business or just about anywhere else except a few of the financial forums and said ANYTHING like this? Which is exactly why virtually everyone I know except for me saw their retirement portfolios decline by 30% to 40%... If it takes these folks 5 or 6 years to get back to where they were in 2008 -- JUST to get back to where they were -- they'll be very fortunate. I, on the other hand, not only made a little in '08, I have been able to use that money that I would otherwise have lost (on paper) to continue investing. So, even if my friends get back to where they were in 5 years, I'll still be light years ahead of them. And this is almost entirely because of people like Celente and others who go on C2C.
Topic: Gerald Celente (Read 971 times)
