The upcoming recession will be massive and more than economic - Gerald Celente

Silver follows gold on the way up but may have downside limitations in a greatest depression scenario because it is widely used in manufacturing and high-tech applications, so production collapses would dampen silver prices.

“silver follows to me you know I began buying gold in 1978 and I silver always follows but so it does have a downside too and the downside is that in the greatest depression so it was also used in manufacturing technology from high tech to heavy industry it's used in a lot of different ways so production goes way down that may put a little damper on silver prices but silver follow is gold”

The strategy for preparation should be 'prepare for the worst; if the worst doesn't happen you've lost nothing; if the worst happens and you're not prepared you can lose everything.'

“so here's what I say prepare for the worst if the worst doesn't happen you've lost nothing if the worst happens and you're not prepared you can lose everything”

The greatest depression will be more than economic—it will be global chaos driven by conflict escalation and loss of social control when populations lose everything and have nothing left to lose.

“so that's the way we see it I want to give you an example let's go over to Europe and think about all the populist movements that they call them and protests against all the migrants coming in go back to 1930 how many people are on the planet yeah about two billion okay 1930 less than a hundred years we've added five and a half billion people the migrant the human waves that's one of our top trends for 2019 the human waves of people leaving countries where they have no future corrupt violence economic disasters they're going to be going more and more into other countries trying to find a future what we're saying is this greatest depression it's going to be more than economic its global Manik when all else fails as I said they take you to war but when people lose everything and have nothing left to lose they lose it”

Cryptocurrencies will have a place in the future as safe haven assets for protecting wealth from currency collapse, as demonstrated by examples like Argentina's peso and Venezuela's currency experiencing daily devaluation.

“so to answer your question I believe that crypto currencies have a place in the future as a also as a safe haven asset getting away from watching your currency collapse wouldn't it be great to be in Argentina right now and see how a peso collapsing everyday or living in Venezuela let's take a trip to Indonesia we'd go anywhere you want to get out of your currency to get into something better and that's why we see a future in this”

Capital outflows from China and Hong Kong are driving current crypto adoption, repeating the 2015-2016 pattern when Chinese investors used Bitcoin to escape yuan devaluation.

“go back to 2015-2016 the Chinese yuan was going down there were massive capital outflows same thing going on now they're starting again also at a Hong Kong massive capital outflows”

Populist movements and anti-migrant protests in Europe are a consequence of economic migration pressure, paralleling the 1930s conditions that preceded WWII.

“I want to give you an example let's go over to Europe and think about all the populist movements that they call them and protests against all the migrants coming in go back to 1930”

Treasury Secretary Mnuchin called six banks on the night before Christmas 2018 when markets were plummeting, claiming to check liquidity but actually coordinating a market intervention, similar to China's 'state protection team' during 2015-2016 market stress.

“let's go back to last December 2018 not ancient history if the Dow had the worst December since the Great Depression and then on the night before Christmas when all through the house nobody was watching and the markets are plummeting Treasury secretary minuchin gets on the phone and calls the six banksters”

Cryptocurrencies represent 'the new generations way of finding that gold and silver in a very different way' at different price points, serving the same wealth preservation function for younger investors unable to afford large gold quantities.

“and again rather than gold and silver this is the new generations way of finding that gold and silver in a very different way in a very different prices”

Bank stocks have been declining because negative/zero interest rates eliminate bank profitability, which was the actual condition Trump and Mnuchin were 'checking' on through their bank calls.

“let's look at the stocks of the the bank stocks they've been going way down because you can't make any money with negative zero interest rates and that's been hurting the shares”

After the Dow Jones fell 800 points, Trump called the top three banks and the market immediately recovered without any fundamental change in conditions, demonstrating that the rally was driven by government intervention rather than economic improvement.

“let's go back to when the markets were down 800 points then it was reported a few days later that President Trump got on the phone and talked to the big banks to the top three and let's look at the stocks of the the bank stocks they've been going way down because you can't make any money with negative zero interest rates and that's been hurting the shares so all of a sudden after El Presidente talks to the banksters poof the market goes up nothing changed”

The Dow Jones falling 800 points and then recovering with no fundamental change represents artificial market support rather than market recovery based on real conditions.

“let's go back to when the markets were down 800 points then it was reported a few days later that President Trump got on the phone and talked to the big banks to the top three and let's look at the stocks of the the bank stocks they've been going way down because you can't make any money with negative zero interest rates and that's been hurting the shares so all of a sudden after El Presidente talks to the banksters poof the market goes up nothing changed”

A recession is absolutely in bound for the United States, though the timing may be delayed by government intervention to after the 2020 election, but the underlying causes remain unaddressed.

“the wildcards we don't see the recession really hitting hard until after the 2020 election because they will do everything they can to artificially prop it up”

New York and other major US cities face existential risk from terrorist attacks on nuclear power plants (e.g., Indian Point north of NYC, plants in Atlanta, Georgia, and California), which combined with the greatest depression and wars would create chaos beyond imagination.

“I wear in New York over you know maybe gate told by my accent off in New Yorker monopoly thought oh boy in the Bronx when the luckiest guy is you're going to be free but I know New York inside out from you know statewide when 9/11 happened they said they said airplanes were coming down the Hudson River 45 it's north of New York Indian Point nuclear power plant what if one of those planes had nuclear plant power plant what if there's a terrorist strike that knocks off nuclear power plants in in Atlanta in in Georgia in New York in California you're gonna see chaos like you would never never could imagine”

The Plunge Protection Team—a coordinated effort by central banks and governments to rig markets when they start declining—is the mechanism by which artificial market support occurs globally.

“the game is everybody knows there's the plunge Protection Team isn't that a nice name for rigging the casino when they start losing too much dough go over to China back in 2015-2016 when the markets were going down oh they had the state protection team”

China has a debt-to-GDP ratio of 300% with $40 trillion in total debt, making it the world's largest importer of oil and gas, all of which creates structural fragility despite its size as an economy.

“we don't see that at all China has a debt to GDP ratio 300 they have 40 trillion dollars worth of debt they're the world's largest importer of oil and gas what's that based in petrol dollars”

Unless people intervene to change course ('unless of course people do something and don't let the maniacs who are running the show do what they continue to do'), the historical pattern will lead to the greatest depression and WWIII.

“you could even start seeing that heat up as well unless of course people do something and don't let the maniacs who are running the show do what they continue to do and get us into war when all else fails they get us to war take us to war”

Chinese companies have $3.5 trillion in debt that will be repaid in dollars, so a weaker yuan makes repayment more expensive, contradicting the idea that China wants a weak currency.

“how about all those Chinese companies that have about three point five trillion dollars worth of debt they're gonna pay back in dollars okay now they want to pay back as their currency goes lower”

The greatest depression—worse than the 1930s Depression—is coming globally, driven by a repetition of the historical pattern: trade wars, currency wars, and ultimately world war.

“but we're not looking for a recession globally or in the United States we're looking for the greatest depression we're saying this is going to be worse than the 1930s depression and there are a number of reasons why but we could start with saying history is repeating itself trade Wars currency wars Great Depression World War two trade Wars currency wars greatest depression World War three”

Trump is artificially propping up the markets with banksters because nothing has changed fundamentally, and this will continue through the 2020 election to avoid a recession before voters go to polls.

“Trump is artificially I believe with the banksters propping up the markets because nothing has changed but yet you go to the next day excuse me the next week and now you're hearing oh we're not gonna go into recession everything's fine Credit Suisse said it's alright Trump said there's no recession but yet we're looking around the world oh it's wonderful over there in Germany”

Global economic deterioration is visible across major economies (Germany, the world's 4th largest economy per Bundesbank is entering recession; Argentina, India, and other countries face regional crises) despite positive sentiment claims.

“but yet we're looking around the world oh it's wonderful over there in Germany the world's fourth largest economy to each of the Bundesbank said they're going into a recession you go around the world whether it's Argentina India name it name the country low interest rates and regional problems”

Celente personally recommends 'guns, gold, and land' as the best preparation for the coming crisis, reflecting his belief that physical assets and self-sufficiency are essential for survival.

“you know I can't give financial advice I'm not permitted to because I'm not a financial adviser on the trend forecaster so I only speaking for myself you know as I said guns gold if I get away plan”

Ray Dalio, founder of Bridgewater Associates (the world's largest hedge fund), came out bullish on gold two weeks after Celente's June 6 trend alert predicting a gold bull run, validating Celente's analysis.

“that's what's gonna keep gold going up because the smart money is going into gold don't believe me ask grade-a Leo the founder and leader of Bridgewater associates the biggest hedge fund in the world coming out two weeks after our gold bull run being bullish on gold”