Celente contends oil will be at the center of the conflict and points out, “Three years ago almost to the date, June of 2014 a barrel of oil was selling for $115, today around $45 a barrel. There is going to be economic turmoil throughout the Middle East. I always say when all else fails, they take you to war. You see the war between Yemen and Saudi Arabia, it’s going to blow into Saudi Arabia. . . . So, when we are looking at the Middle East, it’s really Iran. They are shooting down Iranian planes and shooting down Iranian drones. Iran is the bottom line in this. . . . So, we see these tensions really building up, and it’s going to be Iran. If Iran and anybody goes to war, the Russians and the Chinese take the Iranian side, and Europe and the United States take the other side.”
In the coming financial calamity trend, look no further than financially strapped Illinois that is so broke it is no longer allowed to sell Powerball lottery tickets. Illinois is insolvent and cannot pay its bills. It has hundreds of billions of dollars in bond debt and pension obligations and no way to pay them. Celente says, “All it will do is screw the people. That’s all it will do. This is like austerity measures in other countries. That means they are going to rob you of your pensions, your benefits, raise your taxes, and they will increase your retirement age until after you die. So, what they will do is keep the Ponzi scheme going. . . . There are two different worlds. The people’s lives can continue to decline. That we are seeing with the wage data. Obama bragged, folks I created 10 million jobs. According to the Harvard/Princeton study, 94% are temporary work. So, you can see all these collapses going on, but they will keep the Ponzi scheme going. So, we will have a decline, in absence of a wild card, and we see a 10% correction in the market. If we have terror strikes or other wild cards, it’s going to be a crash because it’s all being held up by lies and dirty deals for the very rich.”
Celente thinks the economy is so weak that it must be propped up by massive fraud, and that means any black swan can sink this economic scam overnight. Celente contends, “It’s over, it’s over and that’s why gold is the ultimate safe haven to me.”
What specifically is Celente watching to tip him off trouble is coming? Celente says we are watching Iran and any confrontation with Iran . . . and we are watching tech stocks and the possibility of a sell-off and also the price of oil. . . . There is too much supply and not enough demand–end of story.”
Join Greg Hunter as he goes One-on-One with trends researcher Gerald Celente, Publisher of The Trends Journal.
(There is much more in the video interview.)
After the Interview:
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