Celente says, “Global recession, and it’s already happening, all they have to do is open their eyes and open their ears. Iron ore, copper, aluminum, nickel, zinc, one after another from wheat to dairy products to corn.”
“When you look at the Bloomberg Index, it’s down to 1999 levels on average. What is that telling us?”
“There is too much product and not enough demand. It’s the same thing with oil. There’s too much production and not enough demand.”
“What we are looking at is a global slowdown because commodities are the canary in the mine shaft.”
Celente says all this is signaling another financial bust bigger than 2008.
Celente explains, “So, what you have is a bubble, a debt bubble that has grown to $220 trillion worldwide since this fake quantitative easing and negative interest rate schemes that have gone on with central bank after central bank.”
“You can’t make this up. Interest rates and negative yields have never happened before in the world. This is brand new. They are over their heads and out of their league. They don’t know what they are doing. They are making panic decisions trying to keep the Ponzi alive.”
On global war, Celente says, “Unfortunately, when all else fails, they take us to war. Look, go back to 1929 and the market crash.”
“You had market crashes, Great Depression, currency wars, trade wars, world war. Voila, here we are again. Panic of ‘08, Great Recession, currency wars world war.”
“When the market collapses, the war talk will heat up.”
Gold and silver are running counter to other commodities. Why?
Celente says, “Demand is up for gold and silver. To me, it is the ultimate safe haven. I’ve been saying since 2012 and 2013 that the bottom for gold is about $1,050 an ounce.”
“I gave that number out because that’s about what it costs to pull it out of the ground. Gold is about planning for the worst.”
So, is the spike in gold and silver demand a precursor to the next crash, which Celente is predicting to be coming soon?
Celente says, “I totally believe so. It’s definitely worse now. Look at the bubble they created.”
“If there is a terror strike, they will use this as the excuse to rob us to try to mitigate the disaster that they have caused. I believe they will declare a bank holiday and devalue the currency.”
“That’s the way they are going to get us out of this.”
Join Greg Hunter as he goes One-on-One with Gerald Celente, Publisher of the Trends Journal.
This article is brought to you courtesy of Greg Hunter from USA Watch Dog.