Gerald Celente, director of Trends Research Institute, discusses the Dow drop on Thursday and its implications for the world markets.
“The world markets will have gone through a severe economic crash before 2011 begins. We’re going to see country after country go through this kind of turmoil.”
Celente forecasts people around the world bailing out of their fiat currencies and getting into gold. He predicts defaults on sovereign debts coming and advises against investing in the the stock market. “There is no safe risk to take,” says Celente. “When you take a risk, you gamble.” Personally, the trends forecaster keeps 80% of his assets in gold and his cash is hedged between US dollars and Canadian dollars.
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