Question please. If I ask some of my questions in other forums they

[onecent]

come back at me pretty hard and I don't need that today.

I need to know if Gerald Celente is a reputable person to listen to.

I'm a senior citizen with a 401K that looks like a 201K and cd's and I am quite 'anxious' about
what to do. I'm have friends telling me to take alot of my money out of these and put in in a safe at home.

I know we are all anxious about our future and our pensions, etc., but I just wonder if anyone could help me out here about this Gerald Celente. One family member lives for his every breath, and I
don't feel right just removing money out of the bank. If it's NOT good in the bank, it probably isn't going to be good at home in the long run, Correct?

Thanks for any answers you can give me

[Bolo Boffin]

1. Caveat empeor

http://blogs.computerworld.com/fox_news_obama_gloom

If you want reputable doom and gloom, stick with Nouriel Roubini.

http://www.rgemonitor.com/blog/roubini/

[biermeister]

2. I've listened to a couple of interviews with him and

he seems knowledgeable & reasonable. You should always do you own due diligence regarding your investments. There is a lot of information out there.

For what it's worth, I purchased some coin & silver coins for my daughter and put them in a safe deposit box at the bank. It will always be worth something compared to paper which could be devalued as they print more of it to pay for our "economic stimulus"

[OnTheOtherHand]

3. it isn't clear how your 401(k) is invested now...

And I won't encourage you to post all your financial information on the board! ;) Gerald Celente is just one person, and the ability to get himself on TV and whatever isn't a strong recommendation. Go ahead, listen to all of us, then see what you think.

Here's a sharper critique of Celente than the one posted by Bolo: http://www.edrants.com/gerald-celente-futurist-fraud Me, this is the first I've heard of him (or this critic!). His scenario still sounds pretty unlikely -- and even if you're trying to hedge against it, putting money in a safe doesn't seem like a big help, if the money is presently federally guaranteed. It's logically possible that the feds could renege on those guarantees without the currency being devalued, but it's not high on my list of things to worry about. Anything else you can do to increase your self-sufficiency would seem to be more useful. In event of food riots (or electric grid collapse or whatever), food might do you more good than cash or gold. I think probably most of us should do more emergency preparation than we have -- but I'm absolutely not talking about full frontal survivalism.

You indicate that you've lost lots of money in your 401(k), so I assume that a lot of that has been in stocks. There is standard advice about (a range of) how much of your one's investments to have in stocks at various points in life. At this point, you may want to aim low, on the principle that the risk of stocks crashing (from where they already have fallen to) outweighs the upside possibility of stocks surging. That assessment partly would depend on your time horizon, which is why the standard advice is to dial down on stocks as one gets older.

For what it's worth, I'm on the board of a small foundation, and the foundation is longer on cash and equivalents than it has ever been -- but it still owns lots of stock. Its time horizon is quasi-infinite.

[onecent]

4. Thank you for taking the time to respond. My problem isn't

really the money I have invested - I've been with Fidelity for 30 years,
my problem is a very much loved one is trying to sell me TOTALLY on this celente guy, like I don't know what I'm doing. ...and I don't think the world is in great shape, but I think Celente is way
over the top with his doom and gloom.

I' think you have all helped convince me that Celente is not a person I should give 10 minutes of thought too regarding my future with CDs, fidelity, cash flow, or life with the government we have.
At least that's the way I am reading your messages.

My loved one seems to head towards the doom and gloom - I don't listen to Rense and I dont listen to INfowars.
I also don't listen to our news on TV when I can help it.
Again, thank you I just wanted to make sure there wasn't some guru out there that "KNEW THE ANSWER"
TO WHAT WE SHOULD DO WITH OUR LIVES IN THE NEXT 10 15 20 YEARS....BUT THERE IS NO SUCH PERSON."

My investment are VERY diversivied..and I have people watching it for me who I trust wholeheartedly.
Thanks again for the info about Celente.

[OnTheOtherHand]

5. excellent -- I agree with you

I think we have an innate propensity to respond to people who seem very confident of what they are saying -- and some people at some times are especially drawn to prophecies of doom. This guy doesn't seem very reliable, nor does what he is saying make very much sense to me. A nice reliable guru would save us a lot of trouble and worry, but I think we just have to try to make sensible decisions. Just like always. :)

Warm regards to both of you.