On the heels of the recent panic selloff in the gold market, today the top trends forecaster in the world warned King World News that the panic that's happening right now is much bigger than just the gold market.  Celente also went on to discuss the shocking truth about what is really happening in countries around the world.

Eric King:  “Gerald, since gold first broke below the $1,200 level in June, 2013, you stated that the downside risk was $100 – $150, and you consistently repeated that message.  That has proven to be incredibly accurate in light of the recent plunge in gold.  What made you believe that there was going to be one final shakeout in the gold market?  How did you know?”

King Woirld News Pento 3:14:2015

Gerald Celente:  “Because the markets are rigged.  That’s not a conspiracy theory; that’s a fact.  We already know that LIBOR and forex are both rigged and we also know there have been investigations about the rigging of the gold market.  And it’s not in the best interest of central banks, who are printing trillions of dollars of fiat money in order to prop up global equity markets, to see their currencies devalued….

Continue reading the Gerald Celente interview below…


To hear which company investors & institutions around the globe are flocking to 
​that has one of the best gold & silver purchase & storage platforms 
in the world click on the logo:

GoldSwitzerland:MAM - King World News

I have always bought gold as a safe haven in a world where currencies are being devalued right in front of our eyes.  To me the purchase of gold was not for the purpose of protection against inflation, because I have always believed that the economies of the world were going to dramatically slow down on the consumer and manufacturing end.  This means an oversupply of products and less demand, which creates deflation.  And we are seeing that deflation in iron-ore, copper, nickel, aluminum, oil and even agricultural commodities, as demand continues to recede.

KWN Celente I 7:22:2015

Commodity Producing Nations Now In Serious Trouble

So for me gold has always been a buy because of its protection against the devaluation of global currencies.  We now see that the Australian dollar is at a six-year low against the U.S. dollar.  What are Australia’s biggest exports?  How about iron-ore and other metals.

If we look at Canada, their currency is also now at a six-year low vs the U.S. dollar.  Well, Canada is a big oil exporter, particularly some tar sands oil, which is expensive to produce.

We also now have the Brazilian real at a 10-year low vs the U.S. dollar.  Why?  Because it’s a natural resource rich country and they don’t have a strong market to sell their natural resources to.

Meanwhile, the Indian rupee is at a 17-year low vs the U.S. dollar.  This is because manufacturing is slowing down and there is less development.  If the Americans aren’t buying, the Indians, the Chinese, the Vietnamese — they’re not making things.

King World News - Gerald Celente - The Panic That's Happening Right Now Is Much Bigger Than Just The Gold Market

The Panic That's Happening Right Now Is Much Bigger Than Just The Gold Market

So it’s bigger than gold, Eric.  Canada is in a recession, Australia is also heading into recession and Latin American currencies of commodity producing nations are getting crushed.  By every measure, these are the conditions that we would expect to see before a massive global meltdown.  The panic is on.  Remember, the IMF has just downgraded global growth to the lowest level since 2009, the depth of the Great Recession.

So this is a global slowdown at a time when global currencies are being devalued.  The only reason why the U.S. dollar is strong is because all the other currencies are beating them in the global currency race to the bottom.  The dollar isn’t strong because of our great productive capacity and economic growth.  Anyone can see the weak retail numbers being released, and now they can’t blame it on a cold winter.  Remember, some two-thirds of America’s GDP is consumer-based.

So there is no recovery and at some point this global Ponzi scheme is going to collapse.  We just saw it with China.  The Chinese just pumped in over $200 billion to prop up their failing markets, and even with that the Shanghai Index is just flatlining.

So the attempts to prop up the global Ponzi scheme are no longer working.  This is why I’ve always said that gold is for my golden years.  I’m not a day trader of gold; I’m a long-term holder.  The bottom line is that I believe that the gold market has now seen the worst.  Could it go just a bit lower?  Yes.  But compared to an upside potential of well over $2,000, the downside risk is low.” ***ALSO JUST RELEASED: We're Living Through One Of The Greatest Coverups And Explosions Of Lies And Propaganda In History CLICK HERE.

© 2015 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the articles is permitted and encouraged.

If you are interested in purchasing physical gold and silver for delivery you can call Steve Quayle or his staff at (406)586-4842, or you can email them at tyler@safetrek.com or info@sqmetals.com

King World News RSS Feed

The audio interviews with John Mauldin, Stephen Leeb, Egon von Greyerz, Nomi Prins, Gerald Celente, Andrew Maguire, Michael Pento, Dr. Paul Craig Roberts, Rick Rule, Bill Fleckenstein, Eric Sprott, Robert Arnott, David Stockman, Chris Powell, Dr. Philippa Malmgren, Marc Faber, Felix Zulauf and Rick Santelli are available now and you can listen to them by CLICKING HERE.