December 15, 2013 Celente – “March Economic Madness” & Why Gold Hits $5,000
Today top trends forecaster Gerald Celente spoke with King World News about his amazing 2014 predictions and why gold will hit $5,000. For the first time ever, Celente is now predicting that gold will smash through the $2,000 level and head thousands of dollars higher. Here is what Celente, who is the founder of Trends Research and the man many consider to be the top trends forecaster in the world, had to say in this remarkable interview.
Eric King: “Can we start with your (2014 prediction of) ‘March Economic Madness?’”
Celente: “Yes, and I also want to let you know that you are the first person that we are granting this interview to because we believe in King World News, the work that you do, and the kind of people that come to your website. So we are doing this because we believe in both you and the people and we are wishing everyone the best of 2014. And if you (as readers and listeners) can stay on top of the news and ahead of the trends, you will be able to navigate what’s coming because there are going to be a lot of wild cards being thrown on the deck…..
“This is really going to be a year that is truly going to bring with us the best of times, and the worst of times. And when we are speaking about the worst of times, people are wondering, what’s going on with the economy?
Here’s how we see it, Eric: We are in the camp that there is going to be some tapering. You look, for example, at the Chinese yuan, it’s gained some 2.5% over the dollar just in the last year. Deutsche Bank is suggesting that it is going to gain 2% to 3% against the dollar. You are (also) seeing the euro (trading) at levels where it shouldn’t be. Why should the euro trading stronger than the dollar recently? What’s so great over there (in Europe)?
What I am saying is there is nothing going on anywhere and the markets are ‘floating.’ As we know from the latest release which just came out, the European Union is looking at possible rigging of the gold and silver markets. Of course the first one they are looking at is Deutsche Bank. I’m shocked (sarcasm). I mean they are only rigging the LIBOR and forex markets. We know about all of the insider trading, and the rigging of the stock markets. Of course they are rigging the gold and silver markets.
So, going back to what we are looking at, we believe the Fed is going to have to taper. They can’t keep this game going on forever. This is (truly) extraordinary in world history. No one has ever dumped this kind of money into the system as the Fed and the other central banks have done.
So we believe this once in a lifetime cheap money spigot is going to slow down, and when it does, so to will the world economies. Now I mention that because we believe it’s going to hit gold and silver and other commodity prices. It will drive them down temporarily. The reason it’s only temporary is because they are going to see how it effects the entire global economy. It’s going to be too damaging to the equity markets.
It’s going too be too damaging, mostly, to the emerging markets that all of this hot money was flowing into. So, then what are they going to do? They (central planners) are going to invent something else. ‘Oh, you didn’t like the term quantitative easing? We will make up something new.’ They will come up with a new game, but the new game is going to be transparent. And when that happens, this is when we are forecasting that you are going to start seeing gold and silver go back up to the levels they were in 2011.
Now, for all those people listening (and reading) out there, and have heard me (speak about this) before, they know that I was saying, and we are on record as saying from from the beginning in (the year) 2000, when gold was at $275 I said, ‘Gold would hit $2,000.’ It hit $1,921. I was $79 off. I (basically) hit the mark.
What I am (now) saying is this time it’s going to break past $2,000, and then it’s going to be going to the other markers that people have been looking at — the $3,000, $4,000, and even $5,000 (price levels) — because the global economy cannot sustain itself without cheap money. This tapering is going to prove to be too damaging to the equity markets and the global economies and they cannot sustain this.”
IMPORTANT – The written portion above is just a small portion of this incredible interview with Celente. He discusses his brand new predictions for 2014, new business opportunities and trends for 2014, gold and silver (at length), and more new information which he has not discussed in any previous interview. The blockbuster KWN audio interview with Gerald Celente is available now and you can listen to it by CLICKING HERE.
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The audio interviews with Rick Rule, Gerald Celente, Dr. Marc Faber, Bill Fleckenstein, Eric Sprott, Grant Williams, Egon von Greyerz, Dr. Paul Craig Roberts, William Kaye, Andrew Maguire, David Stockman and Art Cashin areavailable now. Other recent KWN interviews include Jim Grant and Felix Zulauf — to listen CLICK HERE.