Celente:  “That’s what he (Bernanke) said, ‘Nobody understands gold prices.’  He also called gold, I love this one, ‘An unusual asset.’  And he said that some people see gold as ‘disaster insurance.’  Yes, disaster insurance against what people like him and other central bankers are doing -- creating a global disaster by printing all of this digital money....

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“When you go back and listen to Bernanke, when Ron Paul was a member of the House (of Representatives) and was questioning him and Ron Paul asked him, ‘Is gold money?’  And Bernanke said, ‘No, it’s a precious metal.’

So here’s what I have to say:  You better tell the Iranians.  (And you better tell) the Turks and the Chinese that are buying Iranian oil and giving Iran gold that they are really not giving them (Iran) anything of value, (that instead) it’s only ‘an unusual asset’ (laughter ensues).  So they (the Iranians) are selling oil for unusual assets (laughter).

It all comes back to gold.  Eric, go back to the House Financial Services Committee hearing this past Wednesday.  Here is what Bernanke said on the effects of tightening the so-called monetary easing:  ‘I don’t think the Fed can get interest rates up very much because the economy is weak, inflation rates are low ... If we were to tighten policy (meaning monetary policy) the economy would tank.’

That should have been the headline story in Thursday’s newspapers around the world.  Pick up The Financial Times, The Wall Street Journal, The New York Times, they never mentioned the phrase, ‘If we were to tighten policy, the economy would tank.’  And that’s where it’s going.

Look at what happened when Bernanke announced this whole ‘tapering’ back in May.  By the middle of June the markets were tanking on the fear that they would stop printing money.  They have to keep printing the money in order to keep the Ponzi scheme going.

When the money stops pumping, the economy gets off life support and it begins to die.  That’s why I’m still a believer in gold, and I’m holding onto it for the long-term ... What’s the upside of gold?  I still see $2,000+.”

The written portion above is just a small portion of this tremendous interview where Celente discusses gold and also gives KWN listeners a look at what to expect in the future.  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, Andrew Maguire, John Mauldin, Dr. Paul Craig Roberts, Art Cashin, William Kaye, Marc Faber, Stephen Leeb, Dr. Benn Steil, Eric Sprott, John Hathaway and Nigel Farage are available now.  Also, other outstanding recent KWN interviews include Jim Grant and Felix Zulauf to listen CLICKING HERE.

Eric King

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