Top trends forecaster Gerald Celente says the global economy is tanking, but don’t expect central banks to go down without a fight. Celente explains, “So, what happens? The markets are going down, and you hear from people like Ray Dalio (hedge fund manager) from Bridgewater Associates saying that the Federal Reserve needs to consider quantitative easing again and more stimulus. All of a sudden, the markets go up because, what happens, Mario Draghi, former head of the Goldman Sachs gang in Europe. . . . . Now, of course, he’s the head of the European Central Bank (ECB). Davos, Dalio, Draghi, three D’s man. Draghi gave these money junkies over there some monetary meth. All of a sudden, Draghi comes out and promises more stimulus on the horizon, folks. Whether it’s the Fed, ECB, China or the Bank of Japan talking about it again—more stimulus. All they are doing is keeping this money junkie, this Ponzi that is addicted to cheap money, alive. At some point, as we saw, it’s crashing and they keep coming up and give it more life.”
Celente predicts, “It’s a global recession and it’s already on. What they could do to prop up the stock markets, I don’t know, but our forecast is they won’t be able to. It’s also very important to understand that the people will not blame Obama for the declining economy. They are not tuned in enough, and they have been pushed down to I don’t care and I don’t believe in hope and change anymore. It will be neutral as to the party preference.”
On the upcoming 2016 election, Celente says, Conservatives aren’t conservative anymore and liberals aren’t liberals anymore. . . . How about ‘High Crimes and Misdemeanors’? Six banks were convicted of felonies for rigging the LIBOR interest rate and rigging the FOREX or currency markets, which is a $5.3 trillion a day market. Not one head rolled. . . . This is what you call a neo-feudal society. The rich get a slap on the wrist, and we get a whack on the head for committing the most minor crimes because we have to obey the law. . . . We see it as Trump and Clinton, at this point, and Trump is not going to get the woman vote. At this point, I think Clinton can beat Trump.”
On the subject of the stability of the banks, Celente says, “The only money I keep in a bank is money to run our business because here is the deal. If there is a terrorist strike, false flag or real, there will be a bank holiday and . . . bail-ins. The global banking system is in a bear market. China . . . Japan . . . . France, bear market . . . UK is in a bear market. We are told everything is going to be okay. I wouldn’t put my money in the banks, and I’ll tell you why. (They’ll say) We got your money and we’ll give it back if and when we want to. Look what happened in Greece. Look what happened in Cyprus. Look what’s going on as the emerging market currencies are collapsing. Look at commodity prices collapsing. Put your money in the bank? Knock yourself out. Speaking for myself, why should I put it in a bank? They give me nothing back, and now they are even talking about negative interest rates. . . . They will charge you to keep it there.”
Join Greg Hunter as he goes One-on-One with Gerald Celente, Publisher of the Trends Journal.
On a final note, Here’s what Mr. Celente says about Gold to his subscribers: ”
Gold up, while most everything else is down? Why? More quantitative easing is a cheap money-pumping scheme that will, at best, temporarily re-inflate failing equity markets and do nothing to reverse the deepening Global Recession trend. Thus, gold will be treasured as a safe-haven commodity in a climate of central-bank currency destruction and socioeconomic and geopolitical turmoil.”
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.