The Power Of Gold & An Economic Collapse

Today top trends forecaster Gerald Celente spoke with King World News about the power of gold and an economic collapse. Gerald Celente is the founder of Trends Research, and the man many consider to be the top trends forecaster in the world. Below is what acclaimed forecaster Celente had to say to KWN in this powerful and exclusive interview.

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).

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/19_Gerald_Celente_-_The_Power_Of_Gold_%26_An_Economic_Collapse.html

Despite Pullback Gold Headed To New All-Time Highs

On the heels of Ben Bernanke signaling that the U.S. economy is weak and needs a highly accommodative Fed policy, today one of the top economists in the world said that despite the recent capping of gold at $1,300, gold is heading to new all-time highs.  Michael Pento, founder of Pento Portfolio Strategies, wrote this piece for KWN.

Pento: “The prevailing mantra on Wall Street is that gold’s bull market is now over and it’s time to bury precious metals as an investment theme for the indefinite future.  The rational for this is based on the belief that many investors held misguided fears during the credit crisis about a breakout of massive inflation and economic chaos, which drove gold to nearly $2,000 per ounce….

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“Of course, (the perma-bulls on stocks claim) those worries have now completely failed to materialize and will never be a genuine risk in the future.  This argument is patently false because it assumes that the final chapter has been written on the Great Recession and debt crisis that paralyzed the entire globe back in 2008.

The truth is the most pernicious effects of the devastating economic collapse that began five years ago have been merely held in abeyance due to record low interest rates and an aggressive expansion of central bank assets; which is being used to boost real estate values, equity prices and the economy.

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/17_Pento_-_Despite_Pullback_Gold_Headed_To_New_All-Time_Highs.html

Silver To Eclipse $100 On Skyrocketing Chinese Demand

With gold and silver rebounding, today acclaimed money manager Stephen Leeb told King World News that silver is now setting up to eclipse $100.  Leeb believes that China, which has been the primary driver in the gold market, is now going to push the silver price over $100 as their consumption of physical silver is poised to skyrocket.  Here is what Leeb had to say in this powerful and exclusive  interview.

Leeb:  “We are seeing massive demand for photovoltaics out of both Japan and China.  We are also continuing to see massive demand for silver in the Middle-East for this type of energy infrastructure as well.  Eric, KWN readers need to understand that the demand for silver is literally set to explode because of the enormous increases in demand for physical silver because of photovoltaics….

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“While all of this is happening, the mainstream media is saying that China is about ready to fall apart.  But the reality is that China plans to urbanize a remarkable 200 million people over the next 10 to 15 years.  Well, the cost is roughly $50,000 per person.  So China is going to be spending a massive amount of money for materials — copper, lead, zinc and especially silver.

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/16_Silver_To_Eclipse_$100_On_Skyrocketing_Chinese_Demand.html