Gerald Celente: They're Bailing Out All the Bigs, While Everyone Else Goes Down
Credit Suisse’s $54 billion lifeline loan. Would you get a "lifeline loan" from your bank if you fell on hard times?
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Credit Suisse gets a $54 billion lifeline from the Swiss central bank and 11 U.S. banks pledged $30 billion for First Republic Bank to try to calm the banking sector.
“What a bunch of crap,” Celente said. “They’re bailing out all the Bigs, with all their riches, as everybody else goes down. You lose your house, you lose your job, you lose your car, who could give a shit?… Eh! But we have to bail out the banks and the rich people who gambled on the Banksters.”
CRASH COMING:
SPECIAL REPORT: BANKSTER BUST
REVENGE OF THE TECH-FREAK GEEKS
Celente said if the Fed raises interest rates by 25 basis points, the equities market is going to be artificially propped up, and guess what? So, too, will gold.”
He said the Fed will lower interest rates before the 2024 elections, which will be the death of the dollar because “the dollar is only strong because they keep raising interest rates.”
“As this economy goes down, and more small businesses go bust, the Bigs will keep buying up more, buying up more real estate….buying up homes…The Bigs are taking over the world, and you can only bail out the Bigs, nobody else,” he said.
TRENDPOST: It should be noted that the Bigs at Silicon Valley Bank and First Republic Bank sold stocks before news about the chaos.
The Wall Street Journal reported: [First Republic Bank] Executives had been selling for months. Executive Chairman James Herbert II has sold $4.5 million worth of shares since the start of the year. In all, insiders have sold $11.8 million worth of stock so far this year at prices averaging just below $130 a share. The bank’s chief credit officer, its president of private wealth management and chief executive together sold $7 million worth of stock.
CNBC also noted: Silicon Valley Bank CEO Greg Becker sold nearly $30 million of stock over the past two years, raising new questions over insider stock sales.