Celente: The Banking Crisis Has Just Begun
Mainstream media finally catching up to The Trends Journal on the Commercial Office Building Bust, watch for banking crash when landlords can't pay mortgages.
Gerald Celente hosted his weekly “Trends in the News” YouTube broadcast and spoke about how the Death of the U.S. Dollar is taking hold. (See “Value Hits 14-Month Low,” and “Economic Update.”
He cited a Financial Times article that noted how big banks are “turning bearish” on the dollar on anticipation that the Federal Reserve will, at best (or worst) raise interest rates just another 50 basis points and then start lowering them.
“It means the death of the dollar is coming as we have warned for how many months now?” Celente said. He continued, “The dollar is only strong because interest rates are high, when interest rates go down the dollar goes down, and it's going to be the beginning of the death of the dollar because the BRICS and other countries are tired of America’s economic and geopolitical hegemony. So they’re going to be going for gold…to be backed by gold. So the lower the dollar goes, the lower higher gold prices will go.”
Celente noted how the mainstream media is catching up to The Trends Journal’s forecast for years that the COVID-19 lockdowns will lead to an Office Building Bust. But they are leaving out one key element in their stories. They’re not mentioning how the landlords will not be able to pay their mortgages, which will lead to the real Banking Crisis.
“And, again, you’re going to see reality set in after people get out of the vacation state of mind in September and October,” Celente said.