February 11, 2016
Gerald Celente: “Well, people should be scared to death of deflation. And it’s more than oil prices that are deflating. According to the Bloomberg Commodity Index, commodities have now plunged to 1991 levels. Eric, this deflation is really a global depression….
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Gerald Celente continues: “We are now looking at the Panic of 2016 and the second round of what has been politely called the ‘Great Recession.’ And for many countries it’s going to be a full-blown depression. That’s why prices are plunging across the globe, along with worldwide stock markets.”
Eric King: “People are flocking to gold all over the world today.”
Gerald Celente: “As I have been saying on KWN for quite some time, “When panic strikes, gold prices will spike!” The kind of massive surge that we saw in the price of gold today, that’s what you are going to see more and more of in the coming months. The bottom line is, despite occasional pullbacks, the trend for gold is higher as panic continues to sweep across the globe.”
Eric King: “You predicted this global crash last year on KWN. And after a failed rally, we’re in it now, Gerald.”
Gerald Celente: “The headline in today’s Financial Times: ‘Europe Bank Shares Stage Rebound.’ What rebound? Just look at what I said yesterday on King World News. Part of what I said was that this talk about a bank buyback is BS and gold prices were going to surge.
The banks are in deep distress. The banks are exposed in all these areas that are collapsing. That is why this deflation is turning into a global depression.
The Global Crash Of 2016 Will Be Devastating
I predicted the Panic of 2008, but I’m telling you now, Eric, that the Global Crash of 2016 is going to be twice as devastating as the one in 2008. The central bankers of the world have built up a massive debt bubble of over $225 trillion, and now the bubble has burst. The damage will not only rattle global markets, it’s going to hit everyone. And the chaos is going to spread wide and far. People better prepare for this. They better learn how to survive and prevail.”