On the heels of the Fed cutting interest rates by 1/4 point, the top trends forecaster in the world, Gerald Celente, said the monetary insanity cannot be sustained as gold remains above $1,400, near breakout that will send the price of gold above $2,000.

With Each Passing Day…
July 31 (King World News) – Gerald Celente:  With virtually each passing day, the building blocks for the onset of the “Greatest Depression” that I have been forecasting are being cemented.

Across the globe, central banks are pushing interest rates lower and governments are going deeper in debt as they shovel in more artificial stimulus to pump up equity markets and stave off the pending economic meltdown.

And today, the Federal Reserve reduced its benchmark interest rate by one quarter percentage point… its first interest rate cut since the Panic of ’08.

As the Trends Journal has detailed, it was on 4 January 2019, when Fed Chief Jerome Powell announced that instead of three or four interest rate hikes as signaled for 2019, the Fed would be “patient” in raising them… that a new trajectory aimed at staving off a global economic meltdown had been formed…

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Monetary Insanity That Cannot Be Sustained
This sudden about-face to not hike rates and the likelihood of cutting them to inject more monetary methadone into the cheap-money-addicted financial system, pushed equities up across the globe and propelled US stock indexes to new highs.

Following the Fed’s lead, the European Central Bank announced it is “studying” stimulus measures, including new rounds of quantitative easing to purchase government and corporate bonds, to Australia cutting interest rates to historic lows, the trends are clear: “It’s monetary insanity that cannot be sustained,” said global trend forecaster Gerald Celente.

Presidential Reality Show
Keeping pressure on the Fed to lower rates in hopes of having a strong economy in the run up to the 2020 Presidential Elections, when U.S. second quarter Gross Domestic Product growth increased to just 2.1 percent, down from 3.1 percent in the first quarter, President Trump tweeted: “Q2 GDP Up 2.1% Not bad considering we have the very heavy weight of the Federal Reserve anchor wrapped around our neck.”

GDP rates in most countries are in decline, while Purchasing Manager Indexes, especially across Europe and Asia, are increasingly falling below 50, which indicates a contraction in economic growth.

And now, with 10-year U.S. Treasury notes paying less than the 3-month bill yielded, the yield curve inversion is one of a growing number of indicators flashing recession ahead… considering that an inverted yield curve preceded every recession since 1975.

And then there’s the global $250 trillion-plus debt bubble created by injecting massive doses of monetary methadone into failing economies, equities and corporations worldwide since the Panic of ’08… that will explode.

Trend Forecast:
Gerald Celente forecasts that the money-changer madness and bankster-banditry is about to end and nations across the globe, including the US, will sink into the Greatest Depression.

As these economic/market factors intensify, the value of gold, now hovering around $1,420 per ounce, will increase and the downside risk from current levels is minimal. 

I was the first to declare the Gold Bull Run on 6 June, and maintain my forecast that once gold hits and sustains above $1,450 per ounce, which it is nearing, gold will steadily move to $2,000 per ounce and higher.

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The KWN audio interview with one of the true veterans of the gold world has been released and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.

More articles to follow…

In the meantime, other important releases…

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Gold Market May Be Coiling For Another Big Surge To $1,550-$1,580, Death Of The Bond Markets, Plus What’s Coming In The Next Few Months? CLICK HERE TO READ

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