On the heels of a massive rally in the gold and silver markets, today the top trends forecaster spoke with King World News about Russia’s stunning moves in the gold market, and why this spells the end of America’s dominance of the world. Below is what Gerald Celente, who is founder of Trends Research and the man considered to be the top trends forecaster in the world, had to say in his fascinating interview.
Eric King: “Gerald, as you know, Russia has been buying a tremendous amount of gold recently — your thoughts on that.”
Celente: “There are a number of reasons they are buying it (gold). The ruble is going down, it’s really getting bashed, and this is a hedge against it. So when you are bringing in gold, and your currency is devaluing, it’s a definite hedge.
When you read the comments from Russia’s economic advisor, Sergey Glazyev, he makes it very clear. He said, ‘All freely convertible currencies are today under American control.’ And he’s making it clear that this isn’t a good situation. Why should they be under American control?….
Continue reading the Gerald Celente interview below…
“So he (Sergey Glazyev) says:
“I believe that in a situation of growing military and political confrontation the gold price will go up again. And let’s not forget that America’s refusal to honor their debts will undermine trust in the dollar. Not just in this country, but in others. It will be a step toward the end of the American financial empire. It will give us a chance to be among the first to suggest a new configuration for the world financial system in which the role of national currencies would be significantly higher.”
And when you listen to what he says, and then you start looking at how much other currencies are eroding the dollar as the dominant reserve currency, down from 80 percent of all currency trades several years ago, to down around 60 percent today, you can see where the future is heading. And gold may be a part of that reserve currency.
We’re looking at Russia’s gold stockpile now being bigger than China’s (officially reported stockpile). And Russia is in the midst of not a Cold War, but a Cold War that is getting very warm to almost hot. We can see it in the latest maneuvers of Russia bringing their bombers and jets into the Gulf of Mexico, in response to America doing military maneuvers in Estonia and more moves with NATO in Ukraine. So I think everybody should listen very closely and carefully to what the Russians are saying out loud and by their deeds. And their deeds are they are buying (enormous amounts of) gold — the safe haven metal when all else fails.” KWN has more interviews being released today, including another powerful one with David Stockman. Also, this was just a small portion of what Gerald Celente had to say in his remarkable audio interview. The audio with Celente will be available shortly and you can listen to it by CLICKING HERE.
IMPORTANT – KWN has many more interviews being released today.
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The audio interviews with William Kaye, Dr. Paul Craig Roberts, Andrew Maguire, Eric Sprott, Bill Fleckenstein, Rick Santelli, Rick Rule, Andrew Huszar, John Mauldin, Egon von Greyerz, Michael Belkin, and Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf — to listen CLICK HERE.