By Greg Hunter’s USAWatchdog.com - February 3, 2026

Martin Armstrong warned in late December to be ready for the “Perfect Storm for Debt, Economy, War, Gold & Silver.” The rain and thunder started at the beginning of February, and the storm is just beginning. Armstrong says, “This is where the volatility starts kicking in. I think Europe is so desperate for war. My concern with the Trump Administration is I would not step a foot in there. Europe needs war. You already had the finance ministers of France and Germany say that they may need IMF bailouts. This is why they want war. It’s a distraction. Without war, people are going to figure out what the hell is going on. My pension fund is gone. Everything is defaulting. What’s going to happen? They are basically going to be storming the parliament with pitch forks.”

Where are you going to see volatility? Armstrong says, “The volatility is in everything. You just saw the metals come down. They will probably consolidate before they go back up when people realize that Europe is going to go to war. What will happen? The dollar will go up. Metals will go up. It will be like WWI and WWII. The US became the financial capital of the world because Europe blew its brains out twice. Now, they think the third time is going to be the charm. . .. If there is war in Europe, it will be maybe in the summer. It does not look good.” . . .

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On gold and silver, Armstrong is decidedly bullish on both metals and says, “This is not the major high. We have too much craziness on the horizon, from sovereign debt default to war. You are just getting a pullback and consolidation. . .. I am looking at the $165 to $200 per ounce area for silver. For gold, I am looking at resistance at the $8,500 per ounce level and, after that, $10,000 per ounce . . . in the next few years.”

There is more in the 63-minute interview.