On the heels of a continued selloff in global stock markets, today Gerald Celente spoke with King World News about chaos in global equity markets and a 2,000+ plunge in the Dow. He also discussed gold and bitcoins.
Gerald Celente: “There was only one reason for the Trump rally. It was based on high expectations regarding what he was going to do as President Trump…
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Just go back to the Trump rally in Louisville Kentucky last week. At that rally Trump said that he could not do any tax cuts until Obamacare was repealed.
So the Trump stock market rally was based on him being able to deliver on his campaign promises. But the implications of the failure to repeal Obamacare are clear. Look at the Asian, European and U.S. markets. They all declined following Trump’s first major defeat as President of the United States. Now the question remains, if he failed on Obamacare, will he fail on delivering the tax cuts that he promised? Will he fail at deregulating the industries that he said he would? Will he fail with his infrastructure rebuilding?
A 2,000+ Point Plunge In The Dow May Unfold
Again, the Trump rally where the Dow shot up 10 percent since election day could easily see a more than 2,000 point plunge in the Dow if Trump’s promises aren’t brought to fruition.”
Eric King: “Gerald, how will this impact the gold market?”
There Is Going To Be Chaos In Global Equity Markets
Gerald Celente: “I’ve been saying ever since the Trump rally began and gold prices declined, that gold still remained the greatest safe haven asset among all of the commodities and all of the other alternatives. The reason why gold remains the safe haven asset is because the Trump rally was based on expectations. And if those expectations are not met, there is going to be chaos in global equity markets. When the equity markets go down sharply, gold prices will spike.
Gold, Not Bitcoins
I also want to make it perfectly clear, Eric, that gold remains the greatest safe haven asset in the world, not Bitcoin. Bitcoin rallied so aggressively because the Chinese were watching their currency – the yuan – being devalued and they started pumping up the price of Bitcoins. 94 percent of the action came out of China. I also made the point that Bitcoin could easily be regulated by governments and that’s what China did and that’s one of the major reasons why you are seeing the price of Bitcoins deflate.
So gold remains the ultimate safe haven in the world and that is why the price of gold is trading higher once again today.”……To be one of the first people in the world to look at what the biggest money and sovereigns across the globe will use to maximize their investing returns CLICK HERE.
***To listen to the extraordinary KWN audio interview with legend Rob Arnott CLICK HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: Gold & Silver Surge As Markets Brace For Shock, But Here Is What Is So Unbelievable About Today CLICK HERE.
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