Trends Forcaster Gerald Celente joins Sprott’s Ask the Expert for this excellent interview on the Fed, the economy, and the markets. Celente states that the Fed’s premature tapering will kill the economy and crash the markets:
The tapering’s going to kill the economy. It’s already doing it. Emerging markets have had their worst opening of the year in history. You’re looking at the Asian markets plummeting despite all the dough that Abe over in Japan pumped into the system. Yeah, the stock market went up 57 percent last year. It’s down now 14 percent this year.
This is a big Ponzi scheme. When they can’t pump money in, the economy goes down. The only thing everybody knows that watches these things and pays attention to them is that the only reason that the global economy rebounded at any level is because of all of the tens of trillions of dollars that they were pumping in. Now, you’re seeing interest rates are going up around the world with the tapering.
The emerging markets are crashing. The Asian markets are way, way down. And, the US market’s having a terrible beginning of the year, too. It’s not a happy New Year. So, no, it’s only going to get worse.
Celente’s full MUST LISTEN interview is below: