Giant Fraud Economy Crashes Before End of 2016-Gerald Celente…“All this cheap money is building bigger bubbles. When this bubble bursts, it will be the worst one in modern history.”

Wednesday, August 24, 2016
By Paul Martin

By Greg Hunter
August 24, 2016

Trends forecaster Gerald Celente has been predicting a financial panic in 2016. How close are we? Celente says, “I believe we are very near an inflection point coming up very soon. . . . I would have thought this would have happened back in 2012; however, there has never been such a thing as quantitative easing. There has never been such a thing as zero interest rate policy and negative interest rate policy. We make forecasts based on information that used to be, but now we have things that never were. . . . I was never taught that central banks could take over the economy as it is now. This is not capitalism. Capitalism is dead–it’s now bankism. The only thing that is keeping this up is a giant fraud. October is usually the killer month. . . . I believe the crash will happen before the end of the year, and it almost happened with Brexit.

Celente also predicts, “All this cheap money is building bigger bubbles. When this bubble bursts, it will be the worst one in modern history. It will be far worse than the crash of 1929 because this is truly global, and it’s truly inflated with fake money. It’s backed by nothing. It’s printed on nothing. It’s digital zeros.”

On gold, Celente says, “Why would I want cheap money that is being devalued and backed by nothing? The way we see it is if the Fed raises rates at all, it will be after the election. Go back to last December. The Fed said they would raise rates four times in 2016. Here it is in the third quarter, and the Fed has not raised rates once . . . The world cannot take more expensive money. You can only keep Ponzi alive with cheap dough. That’s why we think gold is going to spike when it goes well over $1,400 (per ounce). We believe it’s going to spike to $2,000 per ounce, and it’s going to be a quick hit up. Nothing goes straight up, of course. When you adjust gold for inflation, gold never hit the peak that it hit when it hit $850 in 1980.”

On the 2016 election, a surprising turn around for Trump. Celente explains, “We now forecast Trump will win. First, we had Clinton. Trump is his own worst enemy. . . . What’s going to determine the election, we believe, is the debates. These debates will determine it more than they did with Kennedy and Nixon. You are going to see viewer turnout on this break records, maybe even Super Bowl records. It’s going to come down to the debates if Trump doesn’t destroy himself and/or there is not a wild card event. In the absence of that, Trump has a shot at winning this.”

Join Greg Hunter as he goes One-on-One with Gerald Celente, Publisher of The Trends Journal.

(There is much more in the video interview.)

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