Eric King: “Gerald, earlier you mentioned a ‘big bank holiday,’ what do you mean by big bank holiday?”
Celente: “Look at what’s going on in Italy, they don’t have a government yet. It’s been going on for two months (in Italy). Look at their debt/GDP ratio. It’s approaching 130%. How are they going to pay off this debt?
Look at what’s going on in Spain, Portugal, Greece. Those are the bigger bank holidays (that are still to come). They called a bank holiday in the United States in 1933. That’s not ancient history. And what did they do? They devalued the dollar.”
Eric King: “Is that what you see eventually happening here?”
Celente: “I can definitely see it happening….
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