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More Crisis Blogging

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by Felix Salmon
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Nov 21 2007 12:00am EDT

More Crisis Blogging

You thought Roubini was extreme? Check this guy out:

RHINEBECK, N.Y., Nov. 19 (UPI) -- A financial crisis will likely send the U.S. dollar into a free fall of as much as 90 percent and gold soaring to $2,000 an ounce, a trends researcher said.
"We are going to see economic times the likes of which no living person has seen," Trends Research Institute Director Gerald Celente said, forecasting a "Panic of 2008."

Hm. If the dollar falls by 90% and gold rises to only $2,000 an ounce, wouldn't that mean that the value of gold will actually fall, significantly, in any kind of non-dollar terms? Truly, gold is for optimists. I'm loading up on Mad Max videos, for research purposes.

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