10:24 AM Central Banks Can’t Stop a 2019 Debt Disaster | |
Mike Gleason: It is my privilege now to welcome in Gerald Celente, publisher of the renowned Trends Journal. Mr. Celente's perhaps the most well-known trends forecaster in the world and it's always a joy to speak with him. Mr. Celente, thanks for the time again today and welcome back. Gerald Celente: Always great being on with you, thank you. Mike Gleason: Well, Gerald, as always, there's no shortage of topics to discuss with you. Why don't we start with Europe? The Yellow Jacket Protests have been making headlines. The French President Macron is extraordinarily unpopular and citizens there are more than a little frustrated on how out of touch the government is, both in France and in Brussels at the EU. People have taken to the streets, Macron has responded by delaying the very unpopular fuel tax hike and he plans to increase wages and pensions. But France, like all governments, is already spending well beyond its means and will have to borrow the money to pay for Macron's social programs. French bonds were hit hard yesterday. Are we getting to the point where the rubber meets the road and people are finally reaching their fill of corrupt and out-of-touch politicians making promises they can't keep? Gerald Celente: Yes, it's going on and that's what the whole Yellow Vest movement is about. And interestingly enough, who the leader of it was: no one. It all happened spontaneously and it all happened over the Internet. And when you read the quotes from the reports from the news, they say things like, "The uprising is mostly organic, spontaneous, and self-determined." It's about the inability to pay the bills and it's about the people are tired of the rich getting all of the breaks and that's what a lot of Macron's new budget is. It gave a big wealth tax breaks to the richest and the poorer people can't make ends meet and it's in piece after piece. And by the way, the same thing just broke out in Brussels this past Saturday, this same exact reason. So, it's going on, it happened in Italy with the five-star movement, it's anti-establishment and people are tired of all the big breaks going to multi-nationals as they just become workers on the plantations in Slave-landia. The only place it's not happening is in the United States. Mike Gleason: While we're talking about Europe, please let our listeners know about what you're expecting out of Britain. The Brexit vote was held two and a half years ago. Since then, politicians have been arguing about the details and many have been working to subvert the will of the English voters and either avoid leaving the EU or set up an exit agreement that ensures the UK will be as much, or even more beholden to the bureaucrats in Brussels. Do you have a sense of what might happen there? Will Brexit happen and will the UK be able to achieve genuine sovereignty or is the leadership there going to be selling out? Gerald Celente: We think they're selling out, but again, it's all connected. Why is there resistance to Brexit? It's because the multi-nationals don't want it. That's all this is enriching, but when we look going back to Europe and what's going on in France, in Brussels, in Italy and Poland and Hungary, in Austria with all the new parties. What we saw, what's happening to Merkel, the Chancellor of Germany. You're seeing a breakdown of the system. As we see it, it's the beginning of the end of the Euro group. There's going to be, at some point in the not-too-distant future, a few years away, maybe several, the end of the Euro and countries going back to their own currency and not the dictates of Brussels and the Euro Zone.
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