Forget Great Depression, the Greatest Ever is Coming Says Gerald Celente

well the political landscape in Europe is definitely changing quickly we saw Boris Johnson taking over Theresa May in the UK and now Jews at picante fresh news with who is stepping down as the Prime Minister of Italy so what will the future hold for the world's largest trading bloc joining me now is gerald Celente publisher of the trends journal Gerald so happy to have you on today well thanks for having me of course being with you yeah well happy to have you on since we just got this fresh news that Italy's PN has stepped down all but surely making way for now Matteo salvini seen as being you know widely anti-immigration here so are we going to see more of these protectionist agendas coming out of Europe is this the trend oh absolutely it's worldwide one of our top trends for 2019 is human waves and look what's going on in South America people leaving you know the corruption the violence the lack of opportunity the poverty take a trip to Africa same thing going on and what really what people are really missing is how big this really is go back a hundred years ago we had about 1.7 billion people on the planet we've added about 6 billion people in a hundred years so you're going to have waves of migrants and refugees flooding out of their countries trying to find someplace to to live a decent life so it's going to continue to spread whether it's Italy the alternative for Deutsche Land the AFD party in Germany and the Austrian party the freedom party one after another more and more against people coming in in droves you know what do you think will happen next here because you know there's gonna be major implications you know Italy's mountain of public debt this keeps mounting it has officially become the weakest link for Europe's financial system one year ago the ECB effectively threatened to boycott Italian debt as part of its QE sending it plunging so now that salvini is all but certainly set to become its next leader and the ECB is set to restart QE the question is what really happens to Italy here well again on Sylvia he may not become the leader because there's also an alliance between Cinque Estella the five star movement and there in the Democratic Party there and they hope they control the majority of the seats so he's going to have to have an alliance with the others to call a a new election and there's going to be resistance to it so it's not sure if he's going to win and as far as Italy goes they haven't recovered from the panic of oh wait there's still way down deep in the depths and their debt to GDP ratio is the highest among any way above the other European countries so there's no way out and they're going to increase their debt regardless of what the ECB does because if you want to talk about hypocrisy how about the ECB going to increase their debt by now it's estimated that after they meet next month they're going to lower interest rates from minus 0.4 percent to minus 0.5 percent and increase the quantitative easing they've already wasted nearly what 3 trillion dollars and now they're going to be spending another 56 billion euros a month in quantitative easing so who evade a point a finger at anybody the global economy is going down they're all injecting monetary methadone into it to keep the artificially addicted bull running so Gerald is this a eurozone crisis part too big it's a global crisis part too bigger than we've seen since the Great Depression of the 1930s well I know that's what you wrote about on your latest trans alert how the next great or greatest oppression as you call it as coming it's anticipated that a recession could hit in the next year or two but you're saying this will be more than just a recession yes again we talked about the human waves you have people desperately leaving their countries risking their lives by the tens of millions you're seeing a debt bubble the latest figure they gave us about money a year ago was 250 trillion dollars it's probably about 280 trillion 30 central banks lowered interest rates this year you know I love being on the show with you and I think you're a great woman I got a deal for you I got a 10-year bond a 20-year bond and a 30-year bond and when you catch him in in 10 20 or 30 years because I like you so much I'm gonna give you less money than what you paid for it you can't make this garbage jump it's one big scam it's ready to blow apart it has almost nothing to do with trade Wars and tariffs look what's going on in India look at their equity markets look at the problems that they have you know what let's get the people's mind off this let's rip up that deal with Kashmir and take it and let's two armed nuclear-armed economies Pakistan's in the toilet and India's goin down quick let's start a nuclear confrontation between two nuclear on desperate countries so what I'm saying is this is much bigger than economics its geopolitical that's interesting you say it has nothing to do with tariffs no trade wars no is India not doing well because of trade wars no they're over expanded they artificially propped up their economy they just lowered interest rates four times in a row Indonesia Argentina oh it's nothing Argentina boy they benefited from trade going out look at what's going on over there the trade sorry you add up the numbers that the official numbers coming out it affected Chinese GDP at a rate of 0.6% that's it with the terrace so Gerald bringing it back to the US data then and I'm pretty sure I know what you're gonna say here so what do you make of the reported good quarterly earnings you're moderately good because what happened with them how about Trump's tax cuts in 2018 which to the Tax Policy Center 83% of it 1 to the 1% how about all those stock buybacks now only about a trillion dollars worth so yet look at the numbers coming out now all the numbers from Macy's were terrific how about Home Depot oh they were down you know you're seeing some going up some going down we're not saying we're going to go into a recession this year they're going to lower interest rates another couple of times probably they only have by the way when we hit the last recession we had had five point five percent interest rates so they could go down that much now they only have two percentage points left and when you go around the world they don't have any so coming back to the states they're going to artificially prop up the economy with more cheap money and the cheap money is going to come through lower interest rates we believe the greatest depression is going to strike after 2020 elections we're speaking ahead of Jackson Hole here Gerald so nothing surprising to come out it up no no no nothing's know nothing and and it's just Morbius and by the way it's very important go back to December it's not ancient history we had the worst Dow since the Great Depression on Christmas Eve the night before Christmas when all through the house the markets going down Steve Manute should the Treasury secretary calls up six banks both markets go up a thousand points within a couple of days what happened last week last Wednesday markets down 800 points Trump gets on the phone closed the banks and you know what the BS they shoved down our throats well he was calling a lot to find out about whether or not the consumer was in trouble what a bunch of baloney happens in those conversations just hates to plunge during that so he calls up the banks and says what he says we're in trouble we got to do something that's what's going on look at the bank stocks going down so how about a thing called a plunge Protection Team you know this is not conspiracy theory this is fact whether it's the national team in China the plunge protection team over here it's they're all getting together they know how bad it is all right Gerald you know I always have to bring it home to gold somehow so some analysts have pointed out that in the last recession gold snack stagnated at first because investors rushed to the US dollar as a safe haven which weighed down on gold how do you see it playing out this time around oh my forecast the same one for six years gold has to break over 1450 solidly to hit 2000 and it's broken over 1450 solidly why are people buying negative yield bonds they're looking for safe haven assets and that's a lousy deal so more and more people are going to buy gold the dollar is only strong because the other currencies are so weak we're going to have the problems here so now the dollar is not going to get game the dollar is no longer going to be to me the factor that moves gold it's the global situation so I'm gold I'm golden on gold the gold bull run has begun like when you hear talk of 3000-4000 is that crazy for you or a reality it's not crazy for me but I'm only looking right now to the mm close more Oh is good speaking with you always wonderful being on with you thank you so much for coming on and thank you for watching this edition of cocoa news we will be back tomorrow you [Music]

Channel: Kitco NEWS

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Keywords: gold, silver, finance, news, investing, investing news, finance news, financial news, economy, precious metals, gold price, silver price, recession, Italy, Matteo Salvini, gerald celente, great depression, economic collapse, wall street, stock market, financial crisis, great recession, silver news, gold prices, gold news, stock market crash, gold price today, recession 2020, economic collapse 2019, federal reserve, interest rates, trends journal, trade war news, kitco news

Id: aySaqJD3r4M

Length: 10min 45sec (645 seconds)

Published: Tue Aug 20 2019

Reddit Comments

[u/slater59]

Honestly I think Usa has already been in a recession. Soft one an we are going to get bumped even lower.