Gerald Celente: Next crash will be worse than the Great Depression

Renowned trends researcher Gerald Celente is making a big change to his 2018-2019 economic forecast. Celente says, “We believe we are setting up now for a market crash that will be the worst in modern American history. The fundamentals are . . . the loan bubble. There is $250 trillion worth of debt out there. Let’s put this together. What did the Federal Reserve do last week? They raised interest rates. Now, we are looking at the Fed Funds Rate back to 2008 levels. What’s going on in the emerging markets? As those interest rates go up in the states, you are seeing currencies crashing. They are hitting new lows in Argentina, Turkey and India. At the same time . . . oil is back up at 2014 levels. . . . Go back to the last five recessions. What were they preceded by? Higher oil prices. When the higher oil prices kick in, the recession kicks in, and the markets go down and gold prices go up. . . . We do not give financial advice, but gold right now, we believe, is at the bottom. You might get a price $30 per ounce lower, but the risk is very low . . . because $1,200 per ounce is around mining cost.”