On the heels of an absolutely wild trading week for global markets, today the top trends forecaster in the world spoke with King World News about one of the wildest six weeks of trading in history.
Eric King: “Gerald, they put a few hundred points to the upside in the Dow. So they may rally this market out of the hole. It hit the wire today that Jamie Dimon bought a bunch of JP Morgan stock. Your thoughts on the possibility of a rally, maybe a short squeeze on the public’s (near-record) short positions to get them out before the next tumble to the downside. Do you see that as a possibility?”
Gerald Celente: “Of course it’s possible. Absolutely. The game is rigged. Go back to the Davos Meeting in mid-January. I read it on King World News, when you had Art Cashin on and he quoted Ray Dalio from Bridgewater Associates saying that we needed more quantitative easing from the Fed…
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Gerald Celente continues: “What happens the next day and who’s at Davos where you had the prime ministers, the chancellors, the presidents, cabinet ministers? The next day Draghi comes out and says there may be more stimulus coming when the ECB meets in March.
The Big Surprise
Who else was at that meeting? The head of the Bank of Japan. And as he leaves Japan (for Davos) he tells the parliament he’s not going to go into negative interest rates. But when he leaves Davos, Japan goes into negative interest rates.
Of course they could juice the markets. Of course they could boost the markets up, sucker in more people and get rid of the (public’s) shorts. But after that happens, this market is going down. And then what they will do is they will make Dalio’s wish come true.
Because everybody is saying right now that these negative interest rates — all these central banks are doing is shooting blanks. So hey, let’s go for another round of stimulus — more quantitative easing.”
Eric King: “Gerald, where are we headed from here for the rest of the year? What do you see happening?”
Gerald Celente: “Follow the money. Just look at the last six weeks. Who remembers six weeks like this? Happy New Year! The banks in Europe are down 24 percent. In six weeks, the Europe 600 Index down 14 percent. So it (the trend) is…To continue listening to the extraordinary KWN audio interview with Gerald Celente CLICK HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: ALERT: Crucial Update On The War That Is Raging In The Gold And Silver Markets CLICK HERE.
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