Today the top trends forecaster in the world spoke with King World News about why the shocking Swiss move is only the beginning of a much larger global meltdown that will lead to the panic he predicted will happen Wall Street and around the world in 2015. Below is what Gerald Celente, founder of Trends Research, had to say in his powerful interview.
Eric King: “Gerald, you warned KWN on January 2nd that “2015 will be the year that will trigger panic on Wall Street and around the world.” We are already beginning to see the early stages of that panic — your thoughts.”
Celente: “The tremendous volatility in world markets is directly related to the fundamentals and the fundamentals of the global economy are not good, not only in the United States but worldwide….
“Here in the United States we kept hearing that low oil prices were going to put money into people’s pockets. That meant the consumer was going to put more money into retailer's cash registers. But the Retail Sales numbers were just released and they actually declined. Even November’s retail sales were revised dramatically lower.
It’s A Global Depression
Now let’s put this into perspective: Most people know that the global economy is in a slowdown. The reason prices are going down is because people don’t have money to buy things. That’s why retail sales are down not only in the United States but around the world. They are calling this ‘deflation.’ But do any of these puppets have the courage to call it what it really is? It’s a depression. These are depressionary conditions but no one in the mainstream media wants to call it that.
We have seen a collapse in oil prices because demand is way down. We are also seeing a collapse in commodity prices across the board. Copper prices just hit 5-year lows. Why? Well, 40 percent of the copper supply is absorbed by China, and China doesn’t have that 7.5 percent growth anymore — it’s more like 3.5 percent.
Price Wars Across The Globe
So as China slows down and countries in the West are buying less, resource-rich countries aren’t exporting as many commodities or products. This goes back to one of our top trends for 2015 — Price Wars. You are now seeing Price Wars across the globe.
It’s finally beginning to dawn on people that there has been no recovery — it has all been a coverup. The quantitative easing money has flooded the globe and created completely phony markets. The tens of trillions of dollars that were injected into global markets did nothing of any substance to improve the general economy.
We are now seeing swings of 400 points in the Dow. We’re seeing oil plummet and global stock markets beginning to decline because there are no fundamentals to support this. So the markets are running scared. And look at all the chaos that has erupted after the announcement today that the Swiss are abandoning the peg to the euro. This move by Switzerland is only the beginning of a much larger meltdown, Eric.
Wall Street Journal And Celente's 1987 Stock Market Crash Prediction
I began getting recognition as a trend forecaster in 1987. The Wall Street Journal covered my forecast. I said, ‘1987 would be the year it all collapses.’ I said, ‘There will be a stock market crash.’ One of the fundamentals I was looking at were the crashing oil prices in 1986.
Well, we see crashing oil prices today and the banks are much more concentrated and levered up in the oil patch than they were in 1987. From Goldman Sachs to Morgan Stanley banks have been involved in major debt financing, derivatives and energy transactions. But much of this debt has not been sold to investors and now we are going to start seeing some big defaults.
Global Collapse
So the worst is yet to come and there is no way out. And I would suggest to people as they look around the world at the geopolitical problems that are going on and how so many countries are becoming police states — under the guise of terrorism — that they ask themselves: Are these countries really afraid of terrorism or are they afraid of their own populations that are losing everything and will take to the streets? Because that’s what we see coming. We see a global collapse. There’s no recovery — it’s been a coverup.”
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