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Eric King:  “The Fed tends to never do anything in December, and yet long ago you predicted this (tapering action).  How did you know they were going to start tapering in December of last year?”


Celente:  “They have to do something.  This is the greatest Ponzi scheme in modern history that the Fed has pulled off by dumping all of this money into the system.  And at some point they have to start pulling back....


Continue reading the Gerald Celente interview below...  




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“They have no plan.  They are running blind.  But they have to do something because it’s the only thing that’s fueling world growth. 


After the January Fed meeting, we believe that absent a real market shock between now and then, they are going to go in for another round of tapering.  They have to.  But what it’s doing, it’s unraveling all the emerging markets.




The real news started coming out, as we were talking about it (on KWN), in mid-December.  This so-called shadow banking system in China, it’s not a shadow banking system.  When I was a kid growing up in the Bronx we called them ‘loan sharks.’  That’s what’s going on now.


You have all kinds of booms going on in China and it’s being fueled by the same cheap money.  Now, what happened is the people could not get their hands on the cheap money, so they starting going to the ‘shadow banks.’




You look at these shadow banks over there (in China), and they are now accounting for an estimated 20% to 30% of fueling the GDP by dumping that money into the economy.  So now the interest rates are really high and going higher in China.


And, as I said, we believe they (the Fed) are going to do another round of tapering in January.  What does that do to the emerging markets?  Simple:  The only reason a lot of these emerging markets emerged was because of all of this cheap money coming out of the United States and into the carry trade -- the hot money going into the emerging markets.  Now that hot money is flowing out and you can see the repercussions all over the world.


So here is our forecast:  Barring a major economic panic between now and when the Fed meets later this month, absent that they taper.  You are already seeing the investors fleeing the emerging markets in droves.  You are looking at their stock indexes going way down.  There is going to be (even) more panic with another taper.




After this taper, they are going to come up with another stimulus plan and they will dump more dough in there (to the system).  That is when you are going to see gold and silver prices spike.  We started off the new year and the Asian markets, the emerging markets, US markets, the European equity markets, all of them (are) down.  But gold has been moving up nicely.  So this is a lesson for everybody to watch:  This is not a happy new year for the equity markets.”



Celente added:  “You look around the world and it is unraveling before our eyes.  I’ve written about this -- it was the top trend of 2013 last year.  Now everybody is talking about it, how it looks so much like pre-World War I, as we are watching all of this unraveling going on around us.”


IMPORTANT - KWN will be releasing interviews all day today and this weekend with James Dines, Gerald Celente, Egon von Greyerz, Andrew Maguire, John Hathaway and others.


***UPDATE - The written portion above is just a small portion of this incredible interview with Celente.  He discusses his brand new predictions for 2014, the meltdown in China, gold and silver (at length), and more new information which he has not discussed in any previous interview.  The incredible KWN audio interview with Gerald Celente is available now and you can listen to it by CLICKING HERE. 


© 2014 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 James Dines, Gerald Celente, Michael Pento, Eric Sprott, Andrew Maguire, Rob Arnott, William Kaye, David Stockman, Rick Rule, John Mauldin, Egon von Greyerz, Art Cashin and Dr. Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf -- to listen CLICK HERE.


Eric King

KingWorldNews.com

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