Gerald Celente, Progressive Radio Network, Released on 6/29/16
Although stocks bounced back on “Turnaround Tuesday” on the belief that contagion has been contained following the rout that wiped out $3.6 trillion from equity markets following Great Britain’s referendum last Thursday to “Brexit” the European Union… we disagree. It’s bigger than Brexit. Despite many of the world’s largest hedge funds betting billions on a “Remain” victory and British bookies putting the chances of “Leave” at barely 10 percent, in our June 15 Trend Alert, we wrote, “Should the ‘Leave’ vote win, we forecast the US dollar and gold prices will spike while equity markets, particularly those currently under downward pressure, will sink deeply lower.” Since then, gold hit two-year highs, the British pound fell to 31-year lows and currencies around the world hit new lows against the US dollar – or tested old ones – as investors sought safe-haven assets such as the dollar and Japanese yen.
The criticism in the “investor” world has long been that gold yields no interest. However, as interest rates around the world keep trending lower and holding cash yields nothing, in a climate of ongoing market volatility, for many, holding gold is considered the ultimate safe-haven commodity.
Gerald Celente is a pioneer trend strategist and founder of The Trends Research Institute. He is the author of the national bestseller Trends 2000: How to Prepare for and Profit from the Changes of the 21st Century and publisher of the internationally circulated Trends Journal newsletter. Gerald Celente is a political atheist. Unencumbered by political dogma, rigid ideology or conventional wisdom, Celente, whose motto is “think for yourself,” observes and analyzes the current events forming future trends for what they are – not for the way he wants them to be. Gerald Celente has earned his reputation as “The most trusted name in trends” by accurately forecasting hundreds of social, business, consumer, environmental, economic, political, entertainment, and technology trends.