Celente Predicts Revolution, Food Riots, Tax Rebellions By 2012

(Analyst's note: Absolutely must read and see. My real concern here is that this man may well be right. If this is a valid prediction, you can also be sure that this will impact our national security in a major way.) bailout

Trend forecaster, renowned for being accurate in the past, says that America will cease to be a developed nation within 4 years, crisis will be “worse than the great depression”

by Paul Joseph Watson

The man who predicted the 1987 stock market crash and the fall of the Soviet Union is now forecasting revolution in America, food riots and tax rebellions – all within four years, while cautioning that putting food on the table will be a more pressing concern than buying Christmas gifts by 2012.

Gerald Celente, the CEO of Trends Research Institute, is renowned for his accuracy in predicting future world and economic events, which will send a chill down your spine considering what he told Fox News this week.

Celente says that by 2012 America will become an undeveloped nation, that there will be a revolution marked by food riots, squatter rebellions, tax revolts and job marches, and that holidays will be more about obtaining food, not gifts.

“We’re going to see the end of the retail Christmas….we’re going to see a fundamental shift take place….putting food on the table is going to be more important that putting gifts under the Christmas tree,” said Celente, adding that the situation would be “worse than the great depression”.

“America’s going to go through a transition the likes of which no one is prepared for,” said Celente, noting that people’s refusal to acknowledge that America was even in a recession highlights how big a problem denial is in being ready for the true scale of the crisis.

Watch the clip.

Celente, who successfully predicted the 1997 Asian Currency Crisis, the subprime mortgage collapse and the massive devaluation of the U.S. dollar, told UPI in November last year that the following year would be known as “The Panic of 2008,” adding that “giants (would) tumble to their deaths,” which is exactly what we have witnessed with the collapse of Lehman Brothers, Bear Stearns and others. He also said that the dollar would eventually be devalued by as much as 90 per cent.

The consequence of what we have seen unfold this year would lead to a lowering in living standards, Celente predicted a year ago, which is also being borne out by plummeting retail sales figures.

The prospect of revolution was a concept echoed by a British Ministry of Defence report last year, which predicted that within 30 years, the growing gap between the super rich and the middle class, along with an urban underclass threatening social order would mean, “The world’s middle classes might unite, using access to knowledge, resources and skills to shape transnational processes in their own class interest,” and that, “The middle classes could become a revolutionary class.”

In a separate recent interview, Celente went further on the subject of revolution in America.

“There will be a revolution in this country,” he said. “It’s not going to come yet, but it’s going to come down the line and we’re going to see a third party and this was the catalyst for it: the takeover of Washington, D. C., in broad daylight by Wall Street in this bloodless coup. And it will happen as conditions continue to worsen.”

“The first thing to do is organize with tax revolts. That’s going to be the big one because people can’t afford to pay more school tax, property tax, any kind of tax. You’re going to start seeing those kinds of protests start to develop.”

“It’s going to be very bleak. Very sad. And there is going to be a lot of homeless, the likes of which we have never seen before. Tent cities are already sprouting up around the country and we’re going to see many more.”

“We’re going to start seeing huge areas of vacant real estate and squatters living in them as well. It’s going to be a picture the likes of which Americans are not going to be used to. It’s going to come as a shock and with it, there’s going to be a lot of crime. And the crime is going to be a lot worse than it was before because in the last 1929 Depression, people’s minds weren’t wrecked on all these modern drugs – over-the-counter drugs, or crystal meth or whatever it might be. So, you have a huge underclass of very desperate people with their minds chemically blown beyond anybody’s comprehension.”

Czar: 'Spread the wealth! Change the whole system' Using White House position to push communist policies?

(Analyst's note: And this man is advising the American President? Why?)

By Aaron Klein

Van Jones

JERUSALEM – Just days before his White House appointment, Van Jones, Obama's environmental adviser, used a forum at a major youth convention

to push for what can easily be interpreted as a communist or socialist agenda.

As WND previously reported, Van Jones, special adviser for green jobs, enterprise and innovation to the White House Council on Environmental Quality, is an admitted black nationalist and radical communist.

Jones' appointment was announced on March 10.

Two weeks before he started his White House job, however, Jones delivered the keynote address at Power Shift '09, which was billed as the largest youth summit on climate change in history. A reported 12,000 young people were at the D.C. Convention Center for the event.

During his speech, available on YouTube, Jones threw around terms like "eco-apartheid" and "green for some," and preached about spreading the wealth while positing a call to "change the whole system."

In one section of his twenty-minute speech, Jones referenced "our Native American brothers and sisters" who, he claimed, were "pushed," "bullied," "mistreated" and "shoved into all the land that we didn't want."

"Guess what?" Jones continued. "Give them the wealth! Give them then wealth! No justice on stolen land ... we owe them a debt."

"We have to create a green economy, that's true, that's true. But we have to create a green economy that Dr. King would be proud of," he exclaimed.

Jones spoke about using what he termed an environmental revolution to push for other policies, including anti-war activism.

"If all you did was have a clean energy revolution, you wouldn't have done anything. ... You'll have bio-fueled bombers and we'll be fighting wars over lithium for the batteries instead of oil for the engines," he said to applause.

"This movement is deeper than solar power. ... Don't stop there! We are going to change the whole system!" he exclaimed.

The White House did not return multiple WND requests the past few weeks seeking comment on how Jones was screened for his position and whether the White House knew of his admitted radical past.

Jones on 9-11: Blame U.S. 'imperialism' ....

Raft of Deals for Failed Banks Puts U.S. on Hook for Billions

By DAMIAN PALETTA

WASHINGTON -- The biggest spur to deal-making among banks isn't private-equity cash or foreign investors. It is the federal government. bailout

To encourage banks to pick through the wreckage of their collapsed competitors, the Federal Deposit Insurance Corp. has agreed to assume most of the risk on $80 billion in loans and other assets. The agency expects it will eventually have to cover $14 billion in future losses on deals cut so far. The initiative amounts to a subsidy for the banking industry.

Tracking the Nation's Bank Failures

See banks, savings banks and thrifts that have failed since the beginning of 2008.

Through more than 50 deals known as "loss shares," the FDIC has agreed to absorb losses on the detritus of the financial crisis -- from loans on two log cabins in the woods of northwestern Illinois to hundreds of millions of dollars in busted condominium loans in Florida. The agency's total exposure is about six times the amount remaining in its fund that guarantees consumers' deposits, exposing taxpayers to a big, new risk.

As financial markets heal and the economy appears to be pulling out of recession, the federal government is shifting from crisis to cleanup mode. But as the loss-share deals show, its potential financial burden isn't receding. So far, the FDIC has paid out $300 million to a handful of banks under the loss-share agreements.

The practice is largely a response to the number of bank failures of the past 18 months, which has stretched the FDIC's financial and logistical resources. The FDIC had just $10.4 billion in its deposit-insurance fund at the end of June, down from more than $50 billion last year. The agency said Thursday it had 416 banks on its "problem" list at the end of the second quarter, which means the list of banks at a higher risk of insolvency has been growing.

Many of the government programs aimed at attacking the financial crisis have carried high price tags, including the Treasury Department's $700 billion Troubled Asset Relief Program, which includes major government investments in American International Group Inc., Citigroup Inc., Bank of America Corp., and the U.S. auto industry. But federal money isn't just going one way. Some of the emergency programs put in place last year, including TARP, have brought in billions of dollars for the government.

On a range of rescue programs run by the Federal Reserve, such as loans to investment banks and purchases of mortgage-backed securities, the Fed earned $16.4 billion through the first six months of 2009. The FDIC said earlier this year that it earned more than $7 billion on the fees it charged through a program that guaranteed debt issued by banks.

On Aug. 14, Alabama's Colonial Bank collapsed, felled by bad commercial-real-estate lending. The FDIC, assuming its traditional role, brokered a sale of the bank's deposits to BB&T Corp., ensuring that customers wouldn't see any interruption. It also agreed to help BB&T buy a $15 billion portfolio of Colonial's loans and other assets by agreeing to absorb more than 80% of future losses. Under the deal, the most BB&T can lose is $500 million, the bank says, and that is only in the unlikely event that the entire portfolio becomes worthless. The FDIC is on the hook to cover the rest.

In June, Wilshire State Bank, a division of Wilshire Bancorp Inc. in Los Angeles, agreed to buy $362 million in deposits and $449 million of assets from failed Mirae Bank, also of Los Angeles. The FDIC agreed to assume most future losses on roughly $341 million of those assets, largely commercial real estate and construction loans in Southern California.

"After we understood how [the loss-share] works, we were literally overjoyed," says Joanne Kim, chief executive of Wilshire State Bank.

Loss-share agreements made a brief appearance in the early 1990s during the savings-and-loan crisis, but haven't been used this extensively before. The FDIC sees the deals as a way to keep bank loans and other assets in the private sector. More importantly, it believes such deals mitigate the cost of cleaning up the industry.

The FDIC contends it would cost the agency considerably more to simply liquidate the assets of failed banks, especially with the current crop of troubled institutions and their portfolios of loans on misbegotten real estate.

The FDIC's premise is that banks that take on the troubled assets will work to improve their value over time. The agency estimates the loss-share deals cut will cost it $11 billion less than if the agency seized the assets and sold them at fair-market value.

"This is an issue the FDIC is grappling with because the loss rates they are estimating on these failed banks are pretty amazing," says Frederick Cannon, chief equity strategist at Keefe, Bruyette & Woods Inc.

By potentially mitigating losses -- or at least stretching them out over time -- the deals provide some protection for the agency's insurance fund. "It's a great opportunity for banks," says James Wigand, deputy director of the FDIC's division of resolutions and receiverships. "It's a great opportunity for us."

US, Afghan forces strike Haqqani Network bases

'Take that thing off your head' ROTC student suspended for telling Muslim to respect flag, remove hijab

from WorldNetDaily

Mark and Heather Lawrence

Maybe it's because her dad served in the U.S. Marines ... or because her high school mascot is a fierce-looking eagle ... or because she plans to enlist in the Army next summer after graduation to defend her country ... whatever the reason, when Heather Lawrence saw a fellow student refuse to stand for the Pledge of Allegiance and recite it with the class, the 16-year-old Junior ROTC member saw a teachable moment and took it.

And for that, she's been suspended five days.

Lawrence's troubles with administrators at Springstead High School in Hernando Beach, Fla., began last Wednesday when she noticed a female Muslim student refusing to participate in the Pledge. The student was wearing a hijab, the traditional Muslim headscarf.

Later in the day, Lawrence encountered the student between periods and told her she should stand for the pledge, reported Hernando Today.

"Take that thing off your head and act like you're proud to be an American," Lawrence told her. ....

reuters Rep. Frank eyes Fed audit, emergency lending curbs

WASHINGTON (Reuters) - Rep. Barney Frank, the chairman of the U.S. House of Representatives Financial Services Committee, said he plans legislation to restrict the Federal Reserve's emergency lending powers and subject the central bank to a "complete audit."

At a recent town hall meeting, Frank said the House would pass a bill to use an audit to crack open the central bank's books more widely, but in a way that will not encroach on the central bank's monetary policy independence. ....