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Gerald Celente continues:


“I have gold for my ‘golden years.’  So, let me go back to 1978 when I bought my first 100 ounces of gold at $187.50 an ounce.  These are very different times between then and now.  There was no eurozone, in terms of a monetary union.


In other words, that whole gold market in the 1980s was US-centric.  There were no runs on the banks in Greece as there are today.  There was no depression in Spain and runs on the banks in the eurozone as there are today.


It’s a totally different game.... 


Continue reading the Gerald Celente interview below...  




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“There was no $16 trillion worth of debt in the United States as there is today.  There was no such thing as QE1, QE2, or the ECB dumping 1.4 trillion euros into the system in these long-term refinancing operations, with bank-borrowed money.


It’s a totally different game.  There was no explosion of the eurozone.  There was no Great Recession/Depression.  It was only a blip in time back then.  This is a very different scenario.


You look at what’s going on in China, all of their numbers are way off, from exports to imports.  You look at their housing market, it’s virtually in free-fall.  You look at commodity prices diving across the board.  Why?  Because there’s a complete slowdown taking place.


Look at the latest filings for unemployment, much higher than they had anticipated, as were the jobs created last month.  There’s no recovery.  The only thing they (central planners) are going to do is to continue to print more digital money.


Look what’s happened to the euro.  It was recently trading as low as 1.26 against the dollar.  The dollar is moving up.  Great, they just torpedoed the Lusitania, but here comes the Titanic, jump on board.  That’s what the dollar is.


So I’m in gold long-term.  This is a totally different scenario than it was before (in the 70s).  (What we have seen) is a lot of hedge funds, financiers and speculators which have made bad bets in other fields (assets), are pulling out of gold to cover those bets.  And it is in the best interest of the central banks, worldwide, to keep suppressing the price of gold because of the banks runs.


If I lived in Greece and I had two nickels to rub together, they wouldn’t be in a bank.  All of the smart money is leaving Greece.  It’s moving out of Spain, Portugal, it’s moving out of these countries.  So, to me, the ‘Golden Days’ are just ahead.”


This is an important interview with Celente  as he discusses gold at length and the trends he sees going forward. The KWN interview with Gerald Celente is available now and you can listen to it by CLICKING HERE. 


© 2012 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.


The Eric Sprott and Peter Schiff audio interviews are available now.  Also, be sure to listen to this week’s incredible line-up of other KWN interviews, which include Rick Santelli, John Embry, Michael Pento and more by CLICKING HERE.


Eric King

KingWorldNews.com

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