Another terrorist attack would create a global economic disaster, says economic and political guru Gerald Celente, director of The Trends Research Institute.
The wise investment strategy in such a scenario would be to buy silver and gold while selling currencies, he tells King World News.
“What will another major terror strike mean should an attack hit one of the major NATO nations?” Celente says.
“The effects this time will go global. Bank holidays will be called, the U.S. and other fragile economies will crumble, gold and silver will soar, and already troubled currencies will crash. Economic martial law will be declared, promised as a temporary measure. Once in place it will remain in place.”
And don’t expect your ATM card to be of much use. “With banks closed and economic martial law in place, restrictions will be set on the amounts, times and frequencies of withdrawals (of cash). It will be essential to have a stash of cash on hand,” Celente says.
Political conditions won’t be too pleasant either, he says. “In America, Homeland Security, already intrusive, will achieve an Orwellian omnipresence.”
Many experts don’t think it will take another terrorist attack to boost gold. China’s interest rate increase has been enough to do the trick this week.
“The fact they keep raising rates is generating talk of an (economic) slowdown,” Darren Heathcote, head of gold trading at Investec Bank, tells Bloomberg. “Gold is again benefitting from that.”