The Crash Has Not Come Yet. Celente Says That Is the Warning.
Gerald Celente sat with Jeremy Szafron on Kitco News and said these are the worst times he has lived through, worse than 1987 and worse than 2008.
Wall Street is rallying. Main Street is not. In New York’s Hudson Valley, he said, the streets are dead, and the restaurant owners he talks to report business down more than 30 percent on average.
“There is no connection between what Wall Street does and what happens on Main Street.”
September added 29,000 jobs, about a third of what economists expected, with July and August revised down by a combined 60,000. Wall Street bounced anyway. Gold, the thing bought for times like this, fell more than $100 from its morning high. Celente calls the mix dragflation. Prices go up while the economy goes down. Gasoline, he said, was about $2.92 before the war and about $4.45 now.
Diesel was about $3.72 and is about $6.50. Trucks, trains, and planes run on it.
Delivery costs rise as the economy deteriorates. Treasury yields are at levels last seen in 2007, which he registered as Panic of 2008 back when the bonds started moving that way.
“When all solutions fail, you are thrown into war.”
That is the 1929 parallel he wants on the table. The coming crash, he told Szafron, mirrors 1929, with a dot com bust inside the AI stocks and China, not America, leading artificial intelligence. The reason the market has not cracked yet is the one he did not price in. Interest rates went to zero and trillions of cheap money flooded the system. The delay is the fuel, not the all clear.
He is not selling the metal. He started buying gold around $170 an ounce in 1978, bought again near $5,300, and said he would buy now.
“I will not sell everything. I will buy. I will buy it.”
Silver gets the same bid. There are no silver stockpiles, in his telling, and higher inflation means higher gold. The getaway plan is not a ticker.
“Get to the country, because the cities are gonna go down bad.”
Gen Z, from India to Nepal to the Bronx, is turning on a system that handed them low paid jobs in social services, healthcare, and hospitality while the fish shops, pharmacies, and butcher shops disappeared and the billionaires got richer. He is holding his 2027 trends until after the November 3 midterms. The way out, if there is one, is a renaissance, and it starts at home.
This is the same man who just told SilverTrade Insider the greatest depression may begin now. That conversation is here: https://www.youtube.com/watch?v=6m4PdlUBrNk
The Kitco hour is the sequel. The crash has not printed. The streets are already dead. He is buying the gold, not selling it, and he is not waiting for Wall Street to notice Main Street.
