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Eric King:  “Gerald, earlier you mentioned a ‘big bank holiday,’ what do you mean by big bank holiday?”


Celente:  “Look at what’s going on in Italy, they don’t have a government yet.  It’s been going on for two months (in Italy).  Look at their debt/GDP ratio.  It’s approaching 130%.  How are they going to pay off this debt?


Look at what’s going on in Spain, Portugal, Greece.  Those are the bigger bank holidays (that are still to come).  They called a bank holiday in the United States in 1933.  That’s not ancient history.  And what did they do?  They devalued the dollar.”


Eric King:  “Is that what you see eventually happening here?”


Celente:  “I can definitely see it happening....


Continue reading the Gerald Celente interview below...




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“Remember, they warned about it before, and that’s after spending trillions of dollars in bailouts and nothing has improved the economy.  The money has only gone into the hands of the ‘too big to fail.’


You can see the gap between the rich and the poor has widened.  You can see that personal incomes continue to decline.  You can see job creation declining.  So yes, I can see a bank holiday, particularly if there is a false flag or real geopolitical incident that they can then use as an excuse for a bank holiday.


When you go back to the 1930s, it didn’t happen in one day.  There were runs on the banks in Michigan first.  Cyprus may be the Michigan of 2013, the test case.”


Eric King:  “As we move toward the end game, what does it tell you about where we are in the cycle?”


Celente:  “It tells us that we are getting closer to it.  As I said, you are seeing the slowdown in job creation.  We are seeing mortgage applications falling.  So even with record low interest rates you are seeing job creation declining, mortgage applications falling, and growth in unemployment claims. 


So the end game is coming quick.  There is only so long they can keep pulling this off.  I believe that by the time the new year comes the game will be over.  You know what happened to me with MF Global:  My money was in a segregated account.  They stole it.  Now they call it a ‘haircut.’  Isn’t that wonderful?  They call it a haircut when they steal your money.


The moral of the story is, if you don’t have your money where you can get it, without a middle man, you don’t own your money.  But with gold and silver, and you are seeing what happened in Cyprus, you can buy what you need, and you may even need it to buy your freedom.”


The written portion above is just a small portion of the incredible interview Celente gave to King World News.  He also discusses the gold and silver smash and what investors around the world should expect next. The powerful KWN audio interview with Gerald Celente is available now and you can listen to it by CLICKING HERE. 


© 2013 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 audio interviews with Gerald Celente, Stephen Leeb, John Maudin, Egon von Greyerz, Rick Rule, Bill Fleckenstein, Paul Craig Roberts, Michael Pento, Nigel Farage and Eric Sprott are available now.  Also, be sure to hear the other recent KWN interviews which include Marc Faber, Felix Zulauf and Art Cashin by CLICKING HERE.


Eric King

KingWorldNews.com

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