By Money Metals Exchange. Originally published at ValueWalk.
Listen to the Podcast Audio:
Mike Gleason (Money Metals Exchange): It is my privilege now to welcome in Gerald Celente, publisher of the renowned Trends Journal. Mr. Celente is a well-known trends forecaster and highly sought-after guest on news programs throughout the world and has been forecasting some of the biggest and most important trends before they happen for more than 30 years now. It’s always great to have him on with us
Mr. Celente, thanks so much for the time today, and we appreciate you joining us.
Gerald Celente (Trends Journal): Thanks for having me on, Mr. Gleason.
Mike Gleason: Well, I want to start out talking about the first half of the year of Donald Trump’s presidency. Trump had an ambitious agenda to get the economy going but hasn’t been able to push any significant legislation through this Congress. How do you see that playing out from here, and what bearing does all this have on the dollar, Gerald, because the greenback has been taking it on the chin here recently?
Gerald Celente: Well, you point out something very significant. Go back to when Trump got elected, and going into the beginning of the year, so from November to the beginning of 2017, the dollar was soaring, and it all of a sudden started reversing. I’ve been around a long time, and I’ve never seen anything like this in my life with so much hatred is being sent out by the media, not only against Trump, but the Russians, and any other person or country that they don’t like. Of course, I’m no Trump supporter, I’m a political atheist, I didn’t vote for either of Trump or Clinton in the last election. And I’m not one of these people that say, “Oh, you have to go out and vote. If you don’t vote then you deserve what you get.” No, if you vote, you deserve what you get, because I don’t support the Bloods and the Crips, and that’s what the Democrats and Republicans are to me. They’re murderers and thieves, their track records prove it. So, what I’m saying about Trump has nothing to do with me being a Trump supporter.
The hatred that the media has been selling, with hating the Russians, no evidence at all that they hacked into the Democratic National Committee, it’s our assumption, it’s our belief, it’s our analysis. Can you imagine going to a court, Mike, and saying that to a judge? (The judge might say) “Show me some evidence.” “How dare you ask me to show you evidence, judge? Don’t you know who I am? I’m a presstitute for the Cartoon News Network, I’m a presstitute for the New York Times, the toilet paper of record. I’m a presstitute for MSNBC. I’ll shove any crap I want down your throat and you repeat it to the American people. I don’t need proof, all need are assumptions, and you know how good those are. You might remember that Saddam Hussein had weapons of mass destruction and ties to Al-Qaeda.” So, what I’m saying is they sell lies, and they sell hatred and dissent in the United States like I’ve never seen before in my life. Every time somebody got elected that you didn’t like, the media would say, “Well you may not have supported that person, but now it’s the president of our United States and we have to all work together. “
So now going back to the dollar. The war against Trump is actually the war against the economy in many ways, because when the Trump rally began, and anybody could go back to the facts, when Trump looked like he was going to win on November 8th, in the morning of November 9th, the Dow futures dove by over 800 points, thinking that he was going to win because the markets wanted Hillary. And then it reversed. And it reversed on the belief that his programs, again whether you like them or not, not the issue, only talking about business, were good for business because of tax reform, because of deregulation – again, whether or not you agree with it isn’t the issue, we’re talking about business – and with also the rebuilding of the infrastructure. None of that happened. That boosted of the dollar, now we’re going into reverse. And, also, the rhetoric keeps heating up. Not only against Russia, but across the globe.
Mike Gleason: It has been almost a decade now since the 2008 financial crisis. We’ve seen evidence since that time that some Wall Street banks have acted like criminal enterprises, and they continue to enjoy the support of politicians in Washington DC. No one has been more vocal on that subject than you. Now we have Donald Trump promising to “drain the swamp,” but more evidence of cheating and market rigging have been piling up. You could be forgiven for thinking that a reckoning will soon come, but experience has shown, these characters are basically untouchable. What are your thoughts, Gerald, any of these folks going to go to jail any time soon?
Gerald Celente: Well, they’re too big to jail, you remember that little freak, Eric Holder. Yeah, you remember him, he was brought in by Obama, the most transparent president he says in his campaigning for the presidency back in 2008. Yeah, so transparent that you could see right through him. He was a guy that promised to bring the banksters to jail. And Eric Holder, where does he go, he goes back to work for one of the white-shoe boy’s firms over there on Wall Street, and wants to protect the banksters, and he says they were basically too big to jail.
We saw, what, $150 billion worth of fines, and not one head roll? It’s a neo-feudal society, there are different rules for the political nobility and the economic elite. As you point out, yeah, Trump didn’t drain the swamp, he just brought in new swamp creatures. Whether it’s Mnuchin or all the generals that he brought in. I’ve never seen a White House filled with so much military brass and a bunch of Wall Street billionaires. So, when we’re looking at it, no, I don’t see any of that change coming.
But again, going back to the dollar and the strength of it, there may be some positives coming out of it. Wilbur Ross who’s the Commerce Secretary, this isn’t a guy I’d want to do business with, but if this is the guy that’s going to defend my interest on the business field, and he’s going to renegotiate these lousy trade deals, that’s great for America. So, there’s a give and a take on it, but right now it’s only been a one-way street and that is when you look at the polls, that Trump is down at historic lows, and look at Congress, what, only 10% of the people look up to Congress? And yet people argue that their bunch of crooks is better than your bunch of crooks? So, I don’t understand what’s going on, how people could take orders from these jerks that play politicians.
Mike Gleason: Speaking of the 2008 financial
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