On the heels of the ECB announcing they are seeking to inject 1.1 trillion euros into the European financial system in a desperate attempt to fight off deflation, today the top trends forecaster in the world told King World News that this is just more evidence that the Great Panic of 2015 is now on.
Eric King: “Gerald, as you know we just had the interview with the former White House official, Dr. Philippa Malmgren. The former presidential advisor and member of the U.S. President’s Working Group on Financial Markets pointed out that the Swiss move was a historic 58-sigma event, and also stated that the faith in central banks has been shattered after massive losses have been incurred.”
Celente: “It was a historic move because these are historic times and the central banks are making history. Look at what is going on. You are seeing negative interest rates in many countries throughout Europe. This is unheard of. Also, the Federal Reserve hasn’t raised rate since 2006 and now there is talk that they may not raise them until 2016. That’s a remarkable 10 years of not raising interest rates….
Continue reading the Gerald Celente interview below…
“So have people lost faith in the central banks? Has the illusion of power been shattered? Yes. The central banks have nothing but a record of failure and everything that they have done since the Panic of 2008 has only enriched the elites.
Everybody who reads King World News knows that the only reason global stock markets have risen is because of all the cheap money, which has fueled direct investment into the stock markets by the banks, record numbers of stock buybacks and also record merger activity. This has all served to increase the wealth of the global elite.
Fraudsters That Serve The Elite
Look at the number that was just released by Oxfam showing that 1 percent of the world’s population will have more wealth than the remaining 99 percent of the world's population by 2016. Take a look at the Pew Research Study that shows the gap between the rich and the poor is the widest in the United States since the Gilded Age (1870s to 1900), and in many cases worse than that. So yes, people are losing faith in the central banks because the central banks are nothing but fraudsters that serve the elite.”
Eric King: “Dr. Malmgren was also pointing out that the banking system in Europe is in a great deal of trouble and it now represents a ‘mortal threat to the entire eurozone,’ — your thoughts on that.”
Celente: “Yes, but it’s not only the eurozone. It’s also the United States, Japan and China. This is what the central banks do — they mortgage the future for immediate gains. The ECB and the Fed know that quantitive easing is a failed policy but they do it anyway because it will keep their Ponzi scheme going. That’s what this all this is about.
The Panic Is Now On
China just announced its lowest growth rate in 24 years. So the Chinese are also funneling more cheap money into the system because their stock market recently plunged 8 percent in one day and their housing market continues to sag. It’s incompetence and ineptness and the Swiss are reacting in a way that shows the panic because the Great Panic of 2015 is now on. And the turmoil we have seen so far is only a warm up compared to what is coming.” To subscribe to Gerald Celente's Trends Journal CLICK HERE.
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***ALSO JUST RELEASED: The Ongoing Global Financial Crisis, Central Bank Lies And A World Of Propaganda CLICK HERE.
The audio interviews with Dr. Paul Craig Roberts, Gerald Celente, Lord Christopher Monckton, Michael Pento, Bill Fleckenstein, David Stockman, Dr. Philippa Malmgren, Egon von Greyerz, Stephen Leeb, Andrew Maguire, John Embry, Rick Rule, Rick Santelli, John Mauldin and Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf — to listen CLICK HERE.