Gerald Celente:
Publisher of The Trends Journal
Founder& Director, The Trends Research Institute
Forecasting worldwide since 1980, Gerald Celente has earned the reputation as “today’s most trusted name in trends” for his accurate and timely predictions. Among them:
• The "Panic of ’08" (financial meltdown): forecast in November 2007
• The "Great Recession" to begin in 2007: forecast Jan. 2004
• "Technotribalism" (rise in social networking): forecast Oct. 1993
• Real Estate Peak/Decline to Follow: forecast Dec. 2004
• Dot-com Bust (to hit by second quarter of 2000): forecast Oct. 1999
• "Gold $2,000": forecast Dec. 2001
• Tax Protests: forecast Dec. 2007
• "Economic 9/11" (predicting Sept.'08 financial calamity): forecast Dec. 2007
• "Little People Squeeze" (squeezing taxpayers): forecast Dec. 2008
• Decline of U.S. Automakers: forecast Oct. 2005
• "Back to the Land" trend: forecast March 1995
• "Buy Local" trend: forecast Oct. 1993
Gerald Celente : well look at the 0:48 price of gas member of the petrol 0:51 dollars and what we have gas prices out 0:53 now we're seeing brent crude $125 of 0:57 barrel and what they're really doing is 1:00 they're creating the same scenario that 1:02 they did to blow up the bubble that 1:05 ended with the real estate crisis in the 1:08 financial credit crisis so go back to 1:11 2000 and the nasdaq crash what did they 1:15 do well after nine eleven Alan Greenspan 1:18 began to low interest rates the 46 year 1:22 lows of course the nation was in a 1:24 recession and they use that as an excuse 1:27 so they're doing the same exact thing 1:30 now only but a little differently in the 1:33 sense that now the Federal Reserve is 1:35 said that interest rates are going to 1:37 remain low essentially throughout 2012 1:41 2014 and what are they doing well now 1:45 it's a different kind of bubble so now 1:47 consumers are again going into debt 1:50 losing their savings and borrowing more 1:53 building up more credit cards that 1:55 student loans again more debt 1:58 what's fueling the equity market it's 2:01 simple low interest rates so they're 2:04 creating another bubble in the Europeans 2:06 are doing the same thing with their 2:08 central bank by dumping what about 1.3 2:12 trillion euro 2:13 goes into the banking system since the 2:15 end of last year and loaning it out to 2:19 banks that virtually no interest rates 2:21 of course the bricks want to come up 2:24 with another currency because they know 2:26 they're getting shafted now I'm we are 2:30 the US has a very big problem that you 2:32 just mentioned but there's also this 2:34 crisis in the eurozone which currency do 2:37 you think is in more trouble 2:38 I think right now the the eurozone is in 2:42 much deeper trouble but again its 2:45 relative it's which one is going to go 2:47 first and lives when you read the quote 2:50 by Dilma Rousseff the president of 2:54 Brazil at the brick meeting recently she 2:57 said quote it will not be overcome 2:59 simply through measures of austerity the 3:02 crisis that started in the developed 3:04 world or fiscal consolidation and 3:08 depreciation of Labor course let alone 3:11 through quantitative easing policies 3:14 that have triggered what can all lead be 3:17 described as the monetary tsunami has 3:22 led to a currency war and had introduced 3:25 new and perverse forms of protectionism 3:28 around the world what she's saying is 3:31 very important go back to the crash of 3:34 1929 what was that the crash a 3:37 depression as you have now a lot of the 3:40 world of deep recession followed by 3:42 currency wars followed by trade Wars 3:46 followed by World War 2 the same 3:50 scenario since the panic about weight is 3:53 playing itself out again 3:55 now we are saying seeing the bricks just 3:57 last week there they want to take 3:59 matters into their own hands and say hey 4:01 we don't need to use the dollar we want 4:02 to trade in our own currency but if 4:05 there is girl this shift away from the 4:08 dollar as a world reserve currency what 4:10 I would replace that well again probably 4:13 a basket of currencies and oddly enough 4:15 the sonic the the head of the World Bank 4:19 who about two years ago came out and 4:22 said that there should be a basket of 4:23 currencies of which goal should be part 4:26 of it 4:27 has also come out in favor of the bric 4:31 nations deciding that they want another 4:33 finance vehicle he said quote i'm going 4:36 to cut enough of an economist that i'm 4:38 not a monopolist so something new is 4:40 going to be created and it's very 4:42 important that the dollar became the 4:44 reserve currency after World War Two 4:47 with the bretton woods agreement and at 4:50 that time when you go back the United 4:52 States is the only game in town 4:55 Europe was destroyed there was no Russia 4:57 in the business 4:58 china it was behind you know the the i 5:01 encourage that they had the yellow 5:02 curtain over there you had no India 5:05 Brazil was Brazil doing this is a whole 5:09 new world it's beyond the post-world War 5:12 to World it's a 21st century world and 5:16 the time definitely are changing 5:17 especially with the US now not as 5:20 powerful as it once was in terms of the 5:23 economy at least and we see the BRICS 5:24 nations their their economies are 5:27 growing at a very rapid look rapid rate 5:30 so Gerald how soon if we do see this 5:32 shift to a different world reserve 5:34 currency when would that happen I would 5:37 expect it to happen after the 5:39 presidential election they're going to 5:42 do everything they can to try to keep 5:43 this going and to try to soothe any kind 5:47 of ripples coming from around the world 5:49 but you know this is much bigger than 5:51 just a dollar crisis it's really the 5:54 decline of empire American so many 5:56 different ways whether it's waging it's 5:59 losing wars overseas and draining its 6:01 Treasury whether it's the mountains of 6:04 debt that they're piling up or whether 6:07 the declines in virtually every oecd LED 6:11 industry whether it's quality of life 6:13 healthcare the list goes on and on 6:16 so what we're seeing is decline of of 6:19 america and the building up a really a 6:22 21st century economy I think it's going 6:25 to happen after the elections now 6:27 ultimately what would this mean because 6:29 you know economist are talking about 6:31 what the implications of this could be 6:33 but why should be average US citizen 6:34 care if the dollar is no longer the 6:37 world reserve currency what are the 6:39 implications for 6:40 Americans solo is standard of living it 6:43 continues to decline and the price of 6:45 everything costs more 6:47 the United States of course like you 6:49 know the the eurozone has the the 6:52 leverage to print it sound money so the 6:55 more that they print the cheaper the the 6:57 the less the value so what this means to 7:00 Americans is a continued decline of 7:03 quality of life and I don't say that is 7:06 just a throwaway phrase by all indices 7:09 for example median household income is 7:12 more than 1999 levels when you see the 7:16 decline of this bit ly the decline of 7:19 real wages over the last quarter 7:22 it's one after another so that's what it 7:25 means 7:26 and speaking of quality of life Gerald 7:27 what kind of plays into that as well as 7:29 gas prices 7:31 exactly that's what i was saying that 7:33 it's Petro dollars and again this came 7:36 about it only in the nineteen seventies 7:38 and that we're going to start pulling 7:41 off that as you're already starting to 7:43 be seen 7:44 so it you look at the price of 7:46 everything I would by the way how 7:48 foolish of me to talking you to talk 7:51 about oil prices because the federal 7:54 reserve that does not include food and 7:56 fuel into our core index so we just have 8:00 to throw that away because after all we 8:03 don't have to eat or use fuel what-what 8:06 deranged mind would really include that 8:09 into a core index the books are being 8:12 cooked the numbers are a lot worse than 8:14 they are and all the Federal Reserve is 8:17 doing 8:18 I believe it's pumping this up to make 8:20 it so that it looks like there's a 8:23 recovery up until Election Day 8:25 alright scary stuff to Carol thank you 8:28 so much for coming on the show and 8:29 sharing your views of us i was jailed 8:31 for 13 publisher at the trans journal 8:33 and director of the trends Research 8:35 Institute
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