Gerald Celente just warned the global economy is melting down and he also discussed what this means for gold.
Within hours KWN will be releasing an important audio interview! Until then…
Greatest Depression Engulfing The World
August 16 (King World News) – Gerald Celente: Equity markets in the U.S rebounded yesterday on the sound bite news that “China softens stance on trade.”
Trade had nothing to do with Thursday’s modest rebound from Wednesday’s 800 point Dow plunge. It had its worst day of the year as more facts proved that the world’s largest and strongest economies keep sinking lower.
China’s industrial output fell to its lowest level in 17-years while retail sales came in at 7.6 percent, sharply down from 9.8 percent in June.
Germany’s Gross Domestic Product went negative, fueling recession fears sweeping across Europe.
The UK is teetering on recession and its pound is plunging.
Rich poor, developed or underdeveloped, the global economy is melting down.
Wall Street feels it and the Central Banksters will do all they can to keep the money addicted White Shoe Boys running.
Everyone who knows about negative bond yields, negative/zero interest rates, quantitative easing… knows the Bankster Bandits will invent any scheme they can dream up to postpone the economic meltdown.
Take a look at oil prices. Wednesday, Brent Crude was down nearly 4 percent. Yesterday it was down over 2 percent. As economic pain grips more nations, oil demand keeps going down while supply has greatly risen.
There was a bit of positive economic news coming from the States that also boosted the markets. Walmart’s reported strong earnings and the U.S. Commerce Department reported a 0.7 percent rise in retail sales in July.
Thus, the $14 trillion debt burden already weighing down American consumers will greatly worsen, sinking those deep into poverty who fail to take action to lower their debt load before the Greatest Depression hits.
WHITE SHOE BOYS SONG
Yet, that is not the way Wall Street sees it. Following yesterday’s 99 point Dow uptick, the Wall Street Sharks are singing Happy Days Are Here Again: “Growth forecasts are rising and economy looks nowhere near as bad as bond market,” trumpeted the CNBC headline after the markets closed.
No recession on the near horizon?
The hard numbers and indisputable facts, including the $15 trillion of negative-yield government bonds worldwide — and the widening inverted bond yield curve that has preceded every recession over the past 50 years — are more evidence that the worst is yet to come.
These are some of the reasons why the Gold Bull Run that I had forecast two months ago in this Trend Alert… keeps running. Up 20 percent since then, gold closed at $1,523 per ounce on Thursday.
What’s Next? What to do?
GOLD TREND FORECAST:
Were U.S. markets really boosted yesterday by scant positive economic data or did the infamous Plunge Protection Team artificially pump them up after Wednesday’s deep dive?
They have done it many times before and they will do it many times again.
As for gold, it has found solid strength above the $1,450 per ounce breakout point that I had been forecasting for several years it needed to pierce for it to spike above the $2,000 per ounce range.
And, considering gold’s strength, negative bond yields, and deteriorating economic and geopolitical conditions, my downside forecast is around $1,390 per ounce.
Within hours KWN will be releasing an important audio interview! Until then…
BUCKLE UP: End Of 48 Year Experiment…More Interventions Coming
READ THIS NEXT! BUCKLE UP: End Game Of The 48 Year Experiment…It’s All About Confidence, More Interventions Coming CLICK HERE TO READ
More articles to follow…
In the meantime, other important releases…
Peter Boockvar – What Is Now Unfolding Is Scary Sh*t CLICK HERE TO READ
Art Cashin – Wild Futures Trading This Morning And Yesterday’s 800 Point Plunge In The Dow CLICK HERE TO READ
Celente – Global Panic Is Heating Up But The Worst Is Yet To Come CLICK HERE TO READ
Dow Craters 800 Points As Panic Trading Continues Across The Globe, Plus A Bold Prediction CLICK HERE TO READ
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