Cody Willard Show | Episode 9 | Gerald Celente

– [Announcer] Coming up
on The Cody Willard Show, should we judge Trump
by the company he keeps? Gerald Celente joins
Cody to talk about when will the next crash come. Plus, he’ll talk gold and bitcoin. The Cody Willard Show is brought to you by – I am thrilled to bring on actually our first ever guest here
on The Cody Willard Show, Gerald Celente, thanks for joining me. – Ah, what a privilege
it is to be on with you. I’ve always enjoyed back in the old days it was the best show I’d ever been on. – I just wanna get the news of the day out of the way real quick. Manafort, Cohen, Trump associates, guilty, pleading guilty, found guilty, all in the span of about an
hour yesterday afternoon. Markets haven’t budged about it at all. What’s your takeaway? Should we be concerned about the president himself, being open to
prosecution or something? – It’s not gonna affect the markets, it has nothing to do with it and that’s what the mainstream media keeps doing each day. They keep putting out a story whether it’s on tariffs or trade or North Korea, whatever, that’s not moving the markets. The markets are moving for other reasons and its earnings, cheap
money and tax cuts. That’s about it, you know. – Targeted, targeted tax cuts, of course. It’s not across the board. Only the really rich and the corporations got the tax cuts. I think my tax might be up, taxes might be up this year. – [Gerald] Well actually,
according to the Tax Policy Center 82% of the cuts went to that lovely 1%. The rest of us got peanuts. And, when you look at
the real inflation rate and earnings, you know,
what people are making, everything’s down. But, going back to, no, this isn’t going to make a difference
to the markets at all. And, you know what gets me about it is how all these Democrats
wanna get rid of Trump and you know, I’m like you,
I’m a political atheist. I don’t believe in any of this stuff. I don’t take sides on any of it, do you? They don’t represent me. The democrats and the republicans, to me they’re the Bloods and the Crypts, murderers and thieves. I’m not making that up. I mean, on the thieves
end, how about making something up called too big to fail. You know, it’s an athematic to capitalism and capitalism is no such thing. It’s the merger of state
and corporate powers when you have too big to fail. That’s called fascism. – Isn’t that what we’re
doing now under Trump, too, with too big, too farming
to fail or something? I mean, we got bailouts for farmers. We’ve got, but on that note, you know, I just wanted to hit. When I, you mentioned before we got on air that you’d read something
I wrote yesterday on Trading with Cody about
how I’m equally disdainful towards both Trump and Obama and you said you’re base, you are in the same camp, but
I got a lot of angry responses from both Trump lovers
and from Obama lovers saying how dare I put that one in the camp of the other one, but whether, you know, the wars are still going on. The country, our country
is still bombing children in the Middle East on a daily basis. Guantanamo is still open. Whether it was Obama or Trump, these things are still happening. Bailouts, every emergency measure under, for the Federal Reserve that was created in that too big to fail environment that you mentioned, still in existence. What, what is the difference, Gerald? Between republicans and democrats? – Like I said, they’re
the Bloods and the Crypts. You know, they’re murderers and thieves. You just got through the murder part. I just got back from DC. I was a speaker at Ron
Paul’s Peace and Prosperity Conference, you know,
and it’s about anti-war. You know, honor the founding fathers, no foreign entanglements. So, going back to it,
there’s really no difference between either of them. Matter of fact, as I was mentioning, you know, the democrats can’t
wait to get rid of Trump, oh so they can bring in Pence. Wouldn’t that be lovely? What a cat he is, you know. He’ll make you really great again. And again, you look at the democrats and hypocrisy, they just voted what? Trump’s big budget for
the Defense, $716 billion. 41 democratic senators voted for it, seven voted against it. 139 in the House of
Representatives voted for it. Only 49 voted against it. So, there is no difference. It’s only a different style and the reason I like Trump so much, more
than any of the other ones, is that he shows what a freak show it is. Obama was able to look into the camera with that arrogant attitude of his and folks, folks, and
I’m doin’ this folks. I’m gonna close Guantanamo
first day in office folks. Yeah, he folked us all right. – You know Gerald, on that
note, it drives me crazy that any, again it’s the
hypocrisy of a democrat/liberal, which I’m not republican or conservative, they’re all hypocrites, but
when a democrat or liberal will somehow try to rationalize Obamacare and say hey, at least Obama
did somethin’ for the poor. No, Obamacare was a
trillion dollar giveaway to giant corporations. Every healthcare company
that helped write that bill is up 500% or 1000% in the
last eight, nine years, since they passed Obamacare. That was not for the poor. The bill itself was
written by the corporations that profiteered on it. – Yeah, and it’s the same thing they see, talk about you know Trump and how ’bout Obama’s Libyan war? Wasn’t that a beautiful one? How ’bout Assad has to go? You know, one after another. Killed 4000 innocent
people with drone strikes and quoted in a book, Double Down, “I’m really good at killing people.” So again, the hypocrisy, going back to what happened with Cohen and Manafort, the oh, you’re gonna have,
wouldn’t that be great? You get rid of Trump and
then you bring in Pence? I mean, Jes, you know. – Gerald, this underscores what you and I are actually trying to get to here and that is the economy and
the stock market itself. What would cause a crash? People are delusional,
whether you’re liberal and you think democrats are on your side, or whether you’re conservative and you think republicans are on your side or whether you think that the economy is sustainable at this rate. But then again, I don’t
think it’s gonna crash or go tomorrow. I’m not, I’m always on the lookout for the next crash, but at this point, is it still bubble blowing
bull market territory? What changes this economy and market? What’s the catalyst, Gerald? – I think it has to be a wildcard event. I’m in the same camp as you. You know, we’re hearing all these people coming out saying it’s
gonna crash in 2020, gonna crash in 2020, and too many people are saying it for that kinda
thing to happen usually, but that doesn’t mean it won’t. But, I believe it’s going
to be a wildcard event and the wildcard even that I believe is going to be oil prices. And, go back to the last recession and the one before, oil prices spiked just before the crash happens, or the big market decline. And, with Trump’s Iranian policy and the hatred that America’s selling toward Iran and the
coalition of the killing that is the Saudis, the
Israelis and the United States, going after Iran, if any
kind of violence breaks out against Iran watch oil prices spike to the $100 a barrel mark. Something like that, Cody, I believe will crash the markets around the world and here’s why, among other reasons. Oil petro dollars, oil’s based in dollars. Take a place like India where they get 80% of
their energy is imported. Where is the rupee now? Oh, it’s down over 7%
against the dollar this year. Ah, and how ’bout all those
other emerging market currencies that are crashing? Where they got the
Turkish inflation rate now is what, 101%. Take a trip to Argentina, you know, go around the world, South Africa, look at the emerging market currencies. So, dollar based, so something like oil could really crash the markets because as we know, the markets in the United States are being pumped up by cheap money. You’re looking at a trillion dollars according to the Goldman Sachs gang, of stock buybacks that shook 2018 and that’s because of Trump’s tax cuts that allowed them to repatriate
all that money overseas and most of it’s going, and
of course, the tax cuts. – Well and Gerald, of course, it’s also based on what Obama did
with his tax policies and the 0% interest rates
under every administration over the last 12, 13 years. It’s all sort of a manipulated
economy at this stage. People can call it, mixed economy or something,
but it is so controlled, very much socialist, very much towards the path of fascism,
as you and I define it, which is the original definition, that government and business get married, get in the same business together, they are no longer separate entities or separated, and go, let’s take this then away from the markets
and necessarily when. We don’t know when it’s gonna crash. I do expect there’ll be another crash, at least one or two in my lifetime. Gerald, what about gold? What’s your take on gold? Is that the one place that you think we need to keep buying? Real estate, gold, what are your places that you would maybe buy somewhere? – It ties into it. And again, what will crash the markets? What brought the markets
into correction territory back in February? Aggressive interest rate hikes. Let’s tie it all together. Aggressive interest rate hikes, stronger dollar, gotta pay more for all the commodities based in dollars, the markets as you pointed out, they’ve been artificially blown up with things that they never taught us in Economics 101 or graduate school, and that is zero interest rate policy, negative interest rate policy in other countries around the world and also, quantitative easing. Never heard these words before. So, as you pointed out, it’s
been going on since Obama. Well actually, under Bush
when the bailouts began and continuing. So, what will bring the markets down? The same thing that’s
bringing gold prices down, higher interest rates. The stronger the dollar gets, the weaker gold gets. Our forecast, Cody, is that, and I don’t give financial advice. Only speaking for myself,
first I’ll say the forecast. We believe gold is at the bottom, primarily because mining companies have stopped putting
money into it right now. They’re not making any dough. It cost on average about $1200 an ounce to pull gold outta the ground. What’s gold selling for now? Around $1200. It went down a little
lower, into the $1180s. We believe it’s at the bottom. I began my career as a trend forecaster. I was a Chief Government
Affairs Specialist for the chemical industry back in, oh yeah, back in the, that’s
why I know what I know. – [Cody] Don’t admit to that, Gerald. – There’s a photo there
of me and Ronald Reagan in 1976, two days before he was announcing that he’s running for office. Anyway, I’ve been in DC enough and I’ve been around long enough. When Jimmy Carter came back from Iran and said the Shah was the island of stability in the Middle East, that’s when I became a political atheist. I knew the thing was going to collapse and I started trading gold and oil futures and I did a $5000 bet and I made almost three quarters of a million dollars and that’s when I quit my job. And but, also I lost most of it, too. I’m a young guy, I don’t know
what I’m doing, you know. But anyway, if I was gambling now I’d be buying gold futures. I believe gold is at the bottom. I’m giving financial advice, but to me that’s the bet. – Gerald, I don’t like the
idea of buying gold futures. I am an advocate of
buying outright, bullion and especially coins that
then though, I’ve had coins stolen from me, so it’s,
there is no perfect solution, but if there is another major
economic financial crisis those too big to fail banks
that are gonna be begging the government for bailouts
again are not going to honor hour gold futures contract. – Oh no, no, I’m just
talking about gambling. That’s all I was just
talkin’ about on that end. You know, if you’re a
gambler you’re playing the markets, that’s something
you might want to consider. Look, I’ve been buying. What? – Your timeframe for
the gold futures gamble. If it’s a shorter timeframe I’m on board. – I’d be going out, I’d
be going out and buying the farthest futures I could buy, whatever that is. – Oh. – But, on the other angle,
I’ve been buying gold, gold coins and gold you
know bars, since 1978, so I’m a firm believer of buying gold. And so, I buy the physical as well. And then again, in other
ways that I can do it, in my IRA you know, I buy GLDs
because my retirement account and that’s the only way I could buy it, so I buy it like that, too. – See, and I personally do
occasionally trade the GLD. I think gold is also in the bottom of even a short term trend. I wrote about this on
Trading with Cody recently. I would be buying the
GLD if only for a trade, but I don’t like the GLD
for a long term IRA holding again, because I think when
that next financial market crisis happens and the banks have, and the markets crash,
gold’s going through the roof and I want my GLD redeemed. I just don’t, I don’t trust
the next financial crisis. I’ve seen how the banks
didn’t honor their contracts and then went and got the government to take care of ’em the last time. Last topic for you, Gerald. Bitcoin, if you can talk
a little bitcoinish, cryptocurrency, not
necessarily just bitcoin, but is there a future for
crypto anti-fiat currencies as I might call it? – Yes, we believe there is
and one of the reasons why is that the world is going cashless. When you, and people
aren’t tied to their coin at the realm as they used to be. No greater example than in China. People aren’t using cash or credit cards, it’s an app, so there’s nothing there. And the reason why bitcoin really took off was because of the
alternative, fiat currency which brought it down mostly
your government actions to stop it from happening. Here’s what we’re looking at. When you see the majors getting into it, again whether it’s
Goldman Sachs and others, that are setting up trading desks and doing different
things in cryptocurrencies we believe it’s going to stay when the establishment
keeps getting into it. So, does it have more of downturn? I don’t know. – [Cody] Do you own any
cryptocurrencies at this point? – Yes. – I’ve owned bitcoin believe it or not, for five years since $100 or so. I’ve been selling it. I sold a bunch when it was above tens of thousands, when it
was into thousands of dollars. I even wrote a book believe it or not, that was published the day that bitcoin hit $20,000, my book was published called, The Great Cryptocurrency Crash, and I’ve been predicting
that, but I also believe that there is a future
for cryptocurrencies because if you’re in Argentina or Turkey, your currency is crashing constantly. Every developing nation
is constantly struggling to maintain value of their
fiat government issued currency and if you live in any of those countries you’ll always trade
your dinar for a dollar and bitcoin or
cryptocurrencies, that concept, gives you an alternative to that. Do you just buy a basket of them at this point or do you
continue to buy them as they go down? I’ve actually just started nibbling some alternative
currencies besides bitcoin in the last couple, three months, Gerald. And so, I do believe
there’s some out there I wanna start bidding. At the same time, I
expect they’re probably gonna go down another 50% or 90% and I’ll be buying a little bit more all the way down. What’s your take on actually buying them at this stage? – Well, you know, I don’t know. I couldn’t give a recommendation on it, but I agree with you, what you’re saying. Again, before we were
talking about the emerging market currencies. Look what’s going on in Venezuela. Oh, that new currency by the way, they just came out with. What do they call it? The petro? It’s crypto, they just
got rid of their bolivars. You know, they’re in
real trouble over there, but if you’re living in
Venezuela and you can’t afford gold or anything else, are you going to by a crypto or hold on to the worthless currencies? Look, there’s a crisis
going on you mentioned, in Argentina. What’d they have, a 45% interest rate? That’s off the charts. Again, look what’s going on in Turkey, Indonesia, India. Name the country, watch
your currencies decline. So yes, I believe there’s a future in it. What to buy, I don’t know. And again, going back to gold, I believe in holding gold as well, you know, the solid metal. I only do the ETS because I’m an older cat and I gotta put it into
a retirement account, so I gotta put the money into that so I don’t get taxed to death. – And Gerald, that is
a great point, right. I mean, always these tax
games that the government has created that you and I have to jump through the hoops and it’s yet another underscoring point of
how there’s an underlying demand for an alternative
to a monopolistic government issued currency
like we have in this country and most every citizen of this planet has to deal with. Last word, Gerald. – I have a solution on how to change it and it ties into cryptocurrencies, blockchain democracy. Let’s vote online. Where we going to polling places? I mean, grow up. Is this 1870s? I mean, what are we doing that for? We could vote online. You got blockchain, it’s blocked. It’s better than hanging chads. It’s better than the BS crap that we have to put up with every time we go voting. – But Gerald, it’s so easy to go in and pull one of the levers. I’m liberal, I better
pull the democrat lever. Well, I’m conservative. I’ll pull the republican lever. I did my job. I’m a good citizen of this country. I’m a good patriot. – So, with blockchain democracy we the people vote on the major issues like they do in Switzerland, haven’t been in a war
there since the 1850s, one of the richest countries in the world. Direct democracy, people vote. Little Pauly Ryan,
things needed to come out of the closet, yet Graham,
Nancy, out of her mind, Pelosi, Diane, not so
Feinstein, little Chucky Schumer don’t represent me. I want direct democracy. Oh, the people are so stupid. How about the jerks that
are running Congress? Are they dumber than you are? Direct democracy, blockchain democracy, the 21st century system, the individual and state freedom. We the people tell the
little boys and girls what to do, rather than
them telling us what to do. – Spoken like a true millennial. Oh wait. Just a total honor and thrill
to have you on with me. The Cody Willard Show, thank you, thanks Gerald Celente
so much for joining us as our inaugural guest. I’m gonna have to ask
and beg him to come back much more often. Thanks so much, Gerald. We’ll be right back folks. – [Announcer] Former
CNBC and Fox News anchor, hedge fund manager and the
go to stock market guest for The Tonight Show, Cody
Willard and his stock analysis have been published in
the Financial Times, The Wall Street Journal, Fortune magazine and many other places. Wanna follow his secrets
to investment success? Go to There you can get analysis on stocks, cryptos, markets and the economy, a full list of Cody’s positions, access to Cody’s chatroom, trade alerts every time Cody buys or sells and much more. To find out more go to – That was great. I gotta thank Gerald Celente again, I gotta thank Ross the Boss, I gotta thank Chris McCue. Peace, love and happiness people. (instrumental music)

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