Transcript of Gerald Celente: Endless Wars are Destroying the US Economy

Here is the full transcript of a conversation between renowned trend forecaster Gerald Celent and Norwegian political scientist Glenn Diesen, on “Endless Wars are Destroying the US Economy”, May 2, 2025.

Listen to the audio version here:

Introduction

GLENN DIESEN: Hi, everyone, and welcome. On today’s program, we are joined by Gerald Celente, who’s an author and economist and also projecting trends. Now, you are also, by the way, the founder of the Trends Journal. And as we see the world undergoing these immense changes, it’s important to recognize the link between geopolitics and economics. And it’s therefore imperative to map out the accurate trends. And yeah, that Trend Journal has an excellent track record in making these predictions for decades now. So before we start, I just want to put forward this offer from Gerald Celente’s Trends Journal, in which you can get 10% discount on the Trends Journal. Just enter the code Glenn G-L-E-N-N. And I will also add this information to the description. So it’s great to have you back on the program.

The Decline of Journalism

GERALD CELENTE: Thank you for having me. And again, in US dollars, it adds up to about $2.50 a week. This is this Sunday’s New York Times. They call themselves the paper of record. I call them the toilet paper record. This is the business section, of course. $6 day sun, weekend edition, Sunday edition for the New York Times. This is the front page of the business section. One big stupid picture. And remember, business, Business section.

I’m mentioning this because it’s the decline of journalism. It’s finished. They’re prostitutes. They’re media whores that get paid to put out by their corporate pimps and government lawmasters, their prestitutes. Remember, this is the business section. The Varsity Influencer Team, an effort at the University of North Carolina at Chapel Hill, aims to turn its student athletes into social media stars.

That’s the story. What does that have to do with business? Yeah, that’s what you get when you turn and tune inside. Nothing. Nothing, nothing, nothing.

The media is gone in the United States. The slime ball. I called him that when he was running for president back in 1992. Little Billy Clinton, Slick Willie. Every time he got caught with his pants down, it was bombs away over Baghdad. The little arrogant boy of nobody. But now he’s a multi, multi millionaire, that guy. Yeah. I didn’t have sex with that woman. Monica Lewinsky. No. She only sucked me off, you know, so that little jerk.

I’m mentioning this because of the decline of journalism. The Federal Communications Act, 1996 by Clinton. There were thousands of independent newspapers, radio sites and TV shows. Thousands. He deregulated. Now six companies control 92% of the American media. So swallow the propaganda because that’s all you’re getting.

Trump’s Foreign Policy Reversal

GLENN DIESEN: I think that’s a very accurate description. It’s quite amazing how many media channels there are and how there’s hardly any daylight between them. But I guess the big news of this week though is that well after Trump was elected on his peace mandate, he was going to end the war in 24 hours. Then it had to be extended slightly to 100 days. However, this week he now has the mineral deal from the Ukrainians and he’s now selling them weapons. So not only is he a new Biden in joining in on this war against Russia fighting to the last Ukrainian, but he’s also extorting the Ukrainians and successful towards his end. What do you think this will mean for the economy and I guess the geopolitics of the world?

Growing Risk of Nuclear War

GERALD CELENTE: I’ve been at this for 45 years. Never in my lifetime have I been so concerned about the annihilation of the human race because of nuclear war. You mentioned what Trump is doing. How about what that little arrogant slime ball, that’s the new president or chancellor, excuse me, of Germany. Mertz. What did he. Oh, oh, where was his last job? Oh, he came from BlackRock. Oh yeah, that group that buys up everything run by a Fink. Can’t make that up a little Fink boy.

We’re increasing. We’re going to go a trillion dollars in debt to build up the military. Oh, we’re going to do some infrastructure repair too. A trillion dollars. The Nordic countries, more money going into defense. UK, European nations all, most of them building up the defense budget. Now let’s go back to Germany. Two years of recession. Two years of recession. Going to go into another recession this year. And they’re building up the military. Oh yeah, that’s going to build our economy. No, it’s not bombs and missiles and they don’t go into the economy. That only goes into the pockets of the military industrial complex. Economies go up when manufacturing goes up and the people buy the products. Nobody’s buying these products.

They’re ramping up this war. By the way, this is why gold prices are going up. They’re going to do everything they can to keep the Ukraine war going. And that means either bombing a nuclear power plant, some false flag event, bombing deeper inside of Russia like hitting Moscow, bombing up more oil depots, doing everything they can to keep escalating this war.

And remember, you can’t make this crap up unless you’re a crap head like the slime balls that are running the world. They’re worried about Russia invading Europe, Germany saying this. Oh, you mean the Germany. Operation Barbarossa, World War II that killed over 25 million Russians. We won’t talk about that. Oh, and the Russians are going to attack after what you did to them? You like World War II? You like World War I? Heil Hitler. Heil Mertz.

Iran and Escalating Tensions

All right, and then you have what’s going on over there in Iran? We said, when Trump came out and said that they were going to make a deal with Iran about their nuclear development, we said it’s a big lie. It’s another setup. Just like he lied about the peace deal in Ukraine and a peace deal in Israel. What they’re doing is they’re setting this up to say that Iran will not go along with the nuclear agreement, and Israel and the United States are going to attack Iran. That is our forecast. And when that happens, it’s the beginning of the end of life on Earth because this thing’s going to continue to escalate.

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Again, what did Trump just do the other day? Let’s see. I had it here a second ago. Trump says any country that buys oil from Iran will not be allowed to do business with the U.S. Wait a minute. You’re having peace negotiations with them and you’re doing this? So this is serious, what’s going on? When all else fails, they take you to war, and the global economy is failing. What followed the Great depression, World War II, what followed the dot com bust, the war on terror, and now the economy’s gone.

Look what happened with negative GDP growth in the United States. And Trump spews out the crap that this is the best hundred days of any president in office. I mean, how could you say this? Well, you could say anything he wants. I’m the president. I’ll do what I want.

Strained Alliances and Economic Extortion

GLENN DIESEN: What sense do you make of the allies as well, though? Because not only is this, you know, ramping up or continuing the war against Russia, but also now, as you said, threatening Iran’s trying to break its economy while you’re doing the negotiations. But you also see some troubles with the allies given Trump’s use of tariffs, not so much to boost the industrial economy, but rather to, I guess, blackmail. Or as the Japanese, this is extortion.

So we’ve seen language the Japanese haven’t really used against Americans in decades. Instead, they’re actually referring to America as an extortionist for the way it’s trying to, I guess, wrestle a new deal out of them. And while they’re being bullied to make another deal, the Japanese make the point that we don’t understand what deal you want. You keep changing what you’re asking for, so what are you extorting from us?

I mean, there’s a lot of confusion within all this bullying as well. How do you think this is going to change? Because now you’re seeing instead of Japan turning against China, they’re realizing they might need China as an alternative partner to diversify. If the United States becomes more unreliable, do you see this as simply negotiation ploy from the Japanese? Or they might actually make a pivot to try to improve ties with the Chinese?

Historical Patterns of Economic Warfare

GERALD CELENTE: I think they’ll try to improve ties with the Chinese. Chinese have 1.4 billion people. United States has 347 million. Who’s it going to do more business with? And when you talk about extortion, this is very important. Anybody who could Google this up, as I say, when all else fails, they take you to war. And again, the Great Depression was going on in World War II followed.

Google it up. Franklin Roosevelt seizes all Japanese assets. You’re talking about extortion history today. Mainstream, mainstream, mainstream media. In July 26, 1941, President Franklin Roosevelt seizes all Japanese assets in America. You know why those dirty Japanese invaded French Indochina. Wait a minute. French Indochina? What the hell are the French doing in Laos, Cambodia and Vietnam? Yeah, no, I’d be in there. Oh, we’re the French, so I forgot about Algeria, Morocco. We’re stealing Iraq any way we can, like the English and all the rest. The Dutch East Indies. Dutch East Indies? What the hell are the Dutch doing in Indonesia? Oh, stealing, robbing, pillaging as well.

And the United Kingdom. United Kingdom? Oh, the Great Britain, where the sun never sets on the British Empire. We’re slaughtering people all over the world, the three of them. Put sanctions on Japan, cut off three quarters of their trade and 88% of their oil. They import 100% of their oil. Can’t understand why they bombed Pearl Harbor.

Escalating Global Conflicts

Let’s go back to the Ukraine war. You’re going to start seeing the same thing happen. They’re going to ramp this thing up. We have maniacs in charge again. Look at the little pieces of nothing. Little boys of nothing. A little Katzone Macron with a pecker. If he has one smaller than that little nothing Starmer over there in the UK. How about adding an FAU and a C in that UK, huh? I got out of his mind. Arrogant, narcissistic Trump. Oh, we had dead in your face Biden before that. One clown after another running the world. Oh, and I forget Netanyahu, mass murderer of the first degree, genocide in front of everybody’s eyes.

Pick up the Wall Street Journal. Pick up the New York Times. Not one word about the daily murder of 40, 50, 100 Palestinians every day. Not a word about the bombing of Gaza into ruins. Not a word about cutting off all their energy, their food, their medical supplies. Not a word. Oh, and now bombs away over Syria. Yep. Article just to give you the language from Israel. Launches airstrike warning in Syria. Financial Times, May 1. Benjamin Netanyahu announced yesterday Israeli forces had struck what he said was armed group preparing to attack a Druze community near Damascus.

Where the hell are you to do this? Oh, Netanyahu said, I gotta believe the crap coming out of the genocide murderer’s mouth. They’re bombing Lebanon. Violation of the ceasefire. Destroying entire areas. They’re ramping this war up. It goes back to gold prices. I started buying gold in 1978. It was either 180, $363 an ounce. I’ve been watching. I’ve been doing this all my life, adult life. I’ve never seen anything like what’s going on now. Never, never, never, never.

Gold and Silver Markets

GLENN DIESEN: That was actually my next question. It’s not just gold, but silver. This is making some unusual moves. How can we explain what is happening within the gold, but also silver market? Because I haven’t really been following gold. Well, I started following gold around 2007 and 8, but it’s been. I know that prior to this it was even steeper growth. But what we’re seeing now is quite unprecedented. How do you explain why it’s making such huge moves?

Endless Wars are Destroying the US Economy

GERALD CELENTE: I’m telling you, the geopolitics and economics. Again, we talk about Germany. The third largest economy in the world during recession. India, you see the stock market has been going down. Oh, what are they doing now? Ramping up a war against Pakistan. Pakistan denied that they had anything to do with that last slaughter that went on a couple of weeks ago. When all else fails, they take you to war.

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India, they’re buying up gold to people. China, him. There’s an article again from the Financial Times about the Chinese investors. This is again May 1st pile into gold ETFs at record pace. The safe haven hunt. So silver’s going to follow. Silver follows gold, you know, back. You know, I bought silver back in 2011, it was like $40 an ounce. And now we’re talking 32, 33.

But the reality is with gold, like you have a gold ring over here and what happens to. Maybe they’ll melt it down if they want to do something with it. Not silver. Silver is in every piece of technology. When the technology dies, you bury it. You don’t have stockpiles of silver. That’s very important. Silver is very high tech and heavy industry. So we see silver prices going up along with gold. Gold, we’re forecasting gold this year could easily hit $4,000 an ounce.

Again, the Trump, you don’t know what he’s going to say. You said, I’m going to end the Ukraine war in 24 hours. I got elected. I’m going to end it before I get into office. I’m going to end it in 100 days. We’re past 100 days. And now, as you mentioned, they just did a deal and more weapons to keep it going. And again, he said he’s going to make a peace deal with a nuclear deal with Iran, and he’s doing the opposite.

My greatest concern again is Israel and the United States going to war against Iran. Look up the Samson option. S-A-M-S-O-N. Israel says if they feel like they’re losing, they go nuclear. And they have between 200 to 400 nuclear warheads. Oh, but Iran can’t even develop nuclear power plants. But hey, we’re Israel. We could do anything we want. We’re the chosen people.

Hey, did you hear this coming out of this slime ball’s mouth? The former senator, United States Senator Noel Coleman, last week he said, look it up, Noel Coleman. The masters of the universe are the Jews. And that we have to stop everybody that’s against what Israel’s doing. Oh, yeah, I’m just a little guinea from the Bronx. Who are you talking to? This is why. And again, as I say, three, my last four girlfriends were Jewish. My people I thank every day when I was a young kid, Mr. And Mrs. Singer, Mr. And Mrs. Rosenblatt, Al Balat and Bert Feinstein. Some of the greatest people in my life have been Jewish people. There’s nothing to do with Jewish people. Just like World War II, you don’t hate all the Germans, you don’t hate all the Italians. But this is what’s going on with this war and it’s going to keep bringing it, making a bad situation worse. With the genocide that Israel’s being committed.

Potential Outcomes of the Middle East Conflict

GLENN DIESEN: What are possible outcomes from this? The way you see it, because Israel has a lot of deep divisions which are only growing and the wars they’re fighting now with more and more external actors, they’re not going well. And as you say, if things go really bad, they have the Nuclear option, but they’re not backing down an area. Indeed, the effort to pull America into war with Iran. It’s quite wild that this is actually something they want, even though this would likely lead to their destruction as well. But do you see any pathways where this would just where Trump would be able to dial this back on behalf of Israel and somehow we don’t end up in war?

GERALD CELENTE: No, no. Look at his cabinet. Look at that little clown boy playing the defense secretary hex. A little jerk. Just push up showing how tough he is. Little jerk. A little former clown. From Fox News, our defense secretary. What do you say to the Houthis? Oh, America’s bomb. What? Over 800 airstrikes against Yemen and he’s blaming Iran for supporting the Houthis and threatening Iran. Did it last week or this week? Threatening them. Oh, the United States and Saudi Arabia. Where’d they kill over 500,000 people in Yemen when they launched the war was back 2014 under the Nobel piece of crap prize winner Obama.

Again, you look what the Houthis are doing in fighting back. And this is a little nothing country. Iran is very advanced militarily, technologically, scientifically. There are 91 million people there against what, about 8 million Jewish people in Israel. They’re very advanced and they’ve been building up their military in knowing that this is going to happen.

And again, go back to what Trump did when he ended the nuclear deal. Back when he was president, there was a nuclear deal that was signed and all the inspectors said Iran’s not making nuclear weapons. But what does Trump say? Here’s his language. Let me get it here, one second. He said any country, a person who buys any amount of oil or petrochemicals from Iran will be subject to immediately secondary sanctions. They will not be allowed to do business with the United States.

It goes on to say again, this is from CNBC Straight news. Trump also initiated negotiations with Iran last month over its nuclear program. His administration believes Iran is trying to develop nuclear bombs, an allegation that Tehran has denied. Not only has Tehran denied this, the nuclear inspectors are saying they’re not doing it. But that’s okay. Facts don’t matter. We’ll sell the lies. Iran Finance Minister, this is out of the Iranian News Agency. New sanctions will have negative impact on talk progress. Of course, you’re in talks and now you’re putting sanctions on them. Oh, and by the way, you know who buys the Iranian oil that Trump is saying he can’t do business with? China.

Investment Strategies in Uncertain Times

GLENN DIESEN: So, yeah, with the war in Ukraine, Middle East on fire. You have the economic war with China and I guess social problems and political polarization within the United States. Where do people put their money these days? Where is a sound bet? Because there’s not a lot to be optimistic about these days. So is it only the precious metals, gold, silver people withdraw into or what?

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GERALD CELENTE: We said it when Trump got elected, we said bitcoin and crypto. Certain cryptocurrencies are going to go up because he got over $100 million from the crypto club. And this is a Trump that hated crypto when he was president, but now his son’s dealing in it. It’s one big club and you ain’t in it. As George Carlin, a great comedian in the United States said, Look up, talking about the deals going on. Look at the Trump deals that are going on building Trump towers in Saudi Arabia, Qatar. I mean, look at what’s going on all over the place. They’re doing deals everywhere in front of everybody’s eyes.

His son’s talking at a crypto conference. So it’s going to go up. They’re only interested in money and power. It’s right in front of everybody’s eyes. The President of the United States doesn’t care about the people. They only care about themselves. People call it a government, it’s a crime syndicate. In virtually every country, it’s a crime syndicate.

GLENN DIESEN: I flew into Dubai last week actually for a meeting and it did occur. It did. Well, shouldn’t take me by surprise, but it did. I did strike you. It did strike me as strange that on the flight as they were landing, they showed a commercial video of a Trump hotel building in the United Arab Emirates or being already built. And I couldn’t help but to think there must be some conflicting interest here which should play in. But it is.

GERALD CELENTE: That’s why none of the Arab nations are fighting back. The major irony, Arab nations are fighting back at what Israel is doing to the Palestinian people. It’s all about the bottom line. They could care less. They’re all doing business with the President.

Oh, by the way, the Trump that wants to turn Gaza into the Mediterranean Riviera. The Trump whose son-in-law Jared Kushner we wrote about in the Trends Journal last March 2024 said that’s very valuable waterfront property and the Palestinians should be pushed out into the Negev desert. Oh, the Netanyahu, when he came to America, he should stay at Jared Kushner’s family’s house. As I said, it’s one big club. It’s a crime syndicate.

Politics and Broken Promises

GLENN DIESEN: It is quite remarkable that one is able to look at the horrific genocide playing out. And the solution is, as Trump said, to create a zone of freedom by ethnically cleansing every man, woman and child in Gaza and then referring to it in terms of the property value, to have a French Riviera of the Middle East. I mean, this is quite extraordinary to think about a conflict this severe in those terms. But it always goes down to the money, you see with Trump. Because it did seem during the campaign that he had a somewhat, seemingly a genuine aversion to war. He kept talking about how unnecessary Yemen was, unnecessary Ukraine war was. But here he is bombing Yemen, which a few months earlier said was a huge mistake, and of course now also sending the weapons into Ukraine. Was there nothing there? Or how do you see this?

GERALD CELENTE: He’s a liar. All they want to do is win the campaign. Like all the politicians, they lie their way into office. I used to run political campaigns in Westchester county, the richest county in America. I was the assistant to the secretary of the New York State Senate. I designed and instructed a course called American Politics and Campaign Technology, how to run political campaigns. I taught it at St. John’s University. I was on the other side. That’s why I know what I know.

And I left because a bunch of low life pieces of scum. Arrogant little boys and girls, little gutless little clown boys, when you call them out, man to man, as we’d say in the Bronx, they don’t know whether to piss. “Oh, don’t talk to me like that.” Yeah, no, you don’t talk to me like that. They’re ballist, gutless, arrogant little freaks. That’s the political system in a country near you. And it’s all they do is lie their way into power.

I had lunch with Donald Trump’s brother back in 2017. I’m up here in Kingston, New York. Across the river there’s Hudson River, Easter here there’s a place called Wasaic, a little town. And Trump’s brother had a restaurant there that he’s helping us. Anyway, I was with him for three hours. The brother died, by the way. Since then, he said that when their father died, Trump’s father died, he left the family over a half a billion dollars of real estate value. A half a billion dollars.

Trump is nothing more than an inherited, spoiled daddy’s boy. All right, he didn’t make it on his own. Atlantic City, but it was a mess over there. Lost it. One losing game after another. Again. He made it because of all the dough that he got and the connections and the story.

I’m the same age as Trump. I’m 78. When I was a kid, I grew up in the Bronx. They couldn’t control me. They used to say, you little bastard, we’re going to send you to military school. That was the biggest threat. I’ll be good. I’ll be good. You think I’m going to go to military school? Get dressed up in drag. Time to get up, time to go to bed. And my mother, may she rest in peace, a great Italian woman would find food all the time. I meet that crap.

Trump was so narcissistic, they sent him to military school. Cornwall, New York. It’s about 30 minutes south of where I am, in the middle of nowhere. Imagine being a teenager in the middle of nowhere, dressed up in military drag, eating crappy food. Time to get up. Time to go to bed. And being given orders all day long. That’s how narcissistic he is.

GLENN DIESEN: Anyways, Gerald Celente, thank you for your time. It’s always very interesting. Thank you.