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KWN Exclusive - Gerald Celente Announces He’s Buying Silver
With gold down over $100 and silver down $5, today the man that many consider to be the top trends forecaster in the world, Gerald Celente, told King World News, “I’m now buying physical silver for the first time. One of my reasons is I am very concerned that when gold prices begin their upward ascent again, I believe the central banks and the governments are going to blame the gold people for the financial problems.” Celente previously announced on KWN that he sold the Swiss franc, which turned out to be right at the top of the market before a 25% plunge in the currency.
© 2011 by King World News®. All Rights Reserved. This material may not be published, broadcast,
rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
September 23, 2011
Gerald Celente continues:
“They have regulated the price of gold before, not that they will be able to do it, but I am concerned they will try something to regulate the supply (to the people) and the price of gold as the price eventually keeps going higher. Silver to me is not going to have that kind of regulation imposed upon it.
So I’m buying a position in silver against any future actions taken by the world governments to restrict the supply and the price of gold. They did it before in the US, they will do it again.”
On August 30th, Celente announced to King World News that he had sold his entire position in Swiss francs. When asked about his timely decision to sell and what he sees going forward Celente remarked, “Well they telegraphed it, and we’re looking at a currency war. History is repeating itself. We went through the panic and crash of 1929, the Great Depression, currency wars, trade wars and then World War II. We went through the panic of 2008, we’re into the Great Recession/Great Depression and they are only keeping it together by printing money, and we have currency wars.
I knew that the Swiss could no longer take that of safe haven status because we kept hearing from their major exporters they couldn’t export when the currency was so expensive. Same thing going on in Brazil, it’s a currency war. So it’s very clear they are going to keep trying to devalue their currencies, which is why, of course, silver and gold prices will continue to go higher, even though we are in a downdraft right now....
Continue reading the Gerald Celente interview below...
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“I believe there is going to be runs on banks, we’re already seeing it with the problems over in Europe. When the runs on the banks really start happening, you’re going to see run ups in gold and silver at far greater levels than we have seen before.
I believe there are going to be bank holidays as well. I make sure I don’t have a lot of money in the banks, I have it in other places where I know I can get my hands on it because when they call a bank holiday there is going to be a devaluation of the currency, just as they did in Argentina, just as they did in the US back in 1933.
In 1933 the US, they forced people to sell their gold at $20.67 an ounce and then revalued it to $35, which meant you could by 40% less with your dollars the next day. I think that’s the kind of thing we are going to see in the future and that’s why I’m a precious metals holder.”
A decade ago Celente was advising people to buy gold at $280. This is a very compelling interview with Celente because he focuses on gold, silver, Europe, plunging stock markets and more. The KWN audio interview with Gerald Celente is available now and you can listen to it by CLICKING HERE.
© 2011 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
Eric King
