Today top trends forecaster Gerald Celente discussed gold at length, as well as other important trends with King World News. Celente is the founder of Trends Research, and the man many consider to be the top trends forecaster in the world. Celente predicted, “a tidal wave entrance into gold,” because “the entire financial system is in collapse.” But first, here is what Celente had to say about what is happening around the world: “The highlight for the moment is on Greece, but let’s remember that Greece only counts for 2% of the eurozone GDP. It’s more about publicity. How will it look if they leave? Also, everybody knew that the $125 billion (for Spain) was a drop in the bucket compared to the trillions of dollars of debt.”
Gerald Celente continues:
“What’s going to happen with the Italians with their bond yields skyrocketing? So with each day it’s a new catastrophe. With each new catastrophe you hear the same lines from the central bankers and the politicians, ‘We have to fix this one. If we don’t fix this one, the whole world will go up in smoke.’ So this is really serious.
It works the same way every time. Bad policies assure bad results. Prioritizing short-term profits jeopardizes long-term gains.
Force-fed austerity when stimulus is needed is madness. So is harming economies, communities, and ordinary people to save banks.
Chickens eventually come home to roost. We’ll know when they arrive. Perhaps it’ll be sooner than imagined.
Money power in private hands assures it. The Fed and other major central banks bear full responsibility for monetary madness.
The late Bob Chapman warned about easy money, market manipulation, reckless speculation, counterproductive fixes, and unsustainable debt causing today’s crisis.
He predicted an eventual house of cards collapse. Only its timing remained uncertain. He’s not around to see what won’t be pleasant when it arrives.
It’s too early to know for sure, but monetizing debt/excess money printing may have hit a wall. One economist suggests Bernanke can’t do much more in the mortgage market.
“It’s going to be bad after the next election.” How bad remains to be seen. An influential economic team expects serious trouble. They discovered a “frightening pattern.” It looks catastrophic.
According to Money Map Press chief investment strategist Keith Fitz-Gerald, “What this pattern represents is a dangerous countdown clock that’s quickly approaching zero. The resulting chaos is going to crush Americans.”
Global economic trend forecaster Chris Martenson also suggests catastrophe, saying:
“We found an identical pattern in our debt, total credit market, and money supply that guarantees they’re going to fail,” he said. “This pattern is nearly the same as in any pyramid scheme, one that escalates exponentially fast before it collapses. Governments around the globe are chiefly responsible.”
“And what’s really disturbing about these findings is that the pattern isn’t limited to our economy. We found the same catastrophic pattern in our energy, food, and water systems as well.”
Everything could implode at the same time, he thinks. “Food, water, energy, money. Everything.”
On Lew Rockwell today – Price-rigging by governments is failing:
The Free Market’s Slow Death by Alisdair Macleod GoldMoney.com
Much has been made in the press of the manipulation of LIBOR, without much explanation of the consequences for prices of all things that depend on supply and demand for bank credit. Outrage focuses on the activities of avaricious bankers, which is why the connection never gets made between relatively minor manipulations of credit pricing by banks and far larger manipulations by central banks.
It is the latter that should really concern us. Central banks persistently intervene in markets to keep interest rates below where they would otherwise be. This leads to artificially high prices for all assets, since they are bolstered by cheapened credit. The idea that we have a capitalist economy, where assets are priced on the basis of their productive value is untrue….
It’s early into QE3, but does this suggest that investors are getting cautious and wary, and believe the Fed has gone back to the well one time too often? Are investors anticipating a hard landing in China or one of the other shocks I outlined?
This series makes clear that I disagree with the “It’s so bad, it’s good” crowd. Conditions are so bad, they are just plain bad. The huge monetary and fiscal stimulus in the U.S. and elsewhere in the past five years has failed to offset the gigantic deleveraging in global private sectors. And such measures are unlikely to do so until that process is completed in another five to seven years.