Today top trends forecaster Gerald Celente told King World News that the financial system is breaking down and collapsing right before our eyes. Celente had correctly forecast back in 2012 that a bank holiday would occur in Europe, and also said events continue to spiral out of control going forward. Celente is the founder of Trends Research, and the man many consider to be the top trends forecaster in the world.
Eric King: “Gerald, I have to start off talking here about the bank holiday we’re seeing in Cyprus. You had called for bank holidays, your thoughts here?”
Celente: “First we thought they were going to happen in the United States, but we didn’t know they were going to be dumping quantitative easing unlimited into the economy. This is unprecedented. So we knew there was going to be a bank holiday, and in 2012 we started warning about bank holidays in Europe. I’ve been saying it for the last 14 months, there are going to be bank holidays….
“You cannot prop-up banks just by pumping in new money, and after there is none left, then go to the people and call it austerity measures. Then take all of their money and give it to the banks, and when that fails, there is nothing left.
Right now we are almost to the point of nothing left. Cyprus is the one that everyone should look at. We believe it’s a test case. So with Greece already down, Spain out, Italy on the edge, and Portugal gone, Ireland barely floating, to us Cyprus was the test case to see what they can do to steal the money from the people one more time.”