Gerald Celente: Engineered fall in gold and silver; Trying to scare people out of precious metals; Started buying silver - GoldSeek.com Radio Nugget

Gerald Celente & Chris Waltzek, GoldSeek.com Radio - September 28, 2011

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So glad you’re back with us for another GoldSeek.com Radio Gold Nugget Segment. Today’s special guest, Gerald Celente, from the Trends Research Institute.

[Bells Ringing]

Chris Waltzek: It’s a pleasure to welcome back Gerald Celente to GoldSeek Radio to help make sense of the epic market volatility we’re seeing today. Gerald is Director of the Trends Research Institute. His team produces the The Trends Journal with cutting edge analysis of the global economic trends. Hello, Gerald.

Gerald Celente: Hello, Chris.

Chris Waltzek: Let’s begin our dialogue, if we could, with the eurozone sovereign debt issue. You know, as debt-strapped nations start to fall like dominos, their officials are struggling to hold the EU together. Moody’s Investors Service downgraded eight Greek banks last week. How do you see this crisis playing out and what does it mean for the typical investor’s portfolio?

Gerald Celente: The way it’s playing out is that the media and the politicians, of course, first of all, keep this line. You know, the Europeans have to get their act together. Matter of fact, just following the IMF meeting this past Monday, we heard from PIMCO’s head over there, Mohamed El-Erian. He said, “What I learned in Washington is that the Europeans finally get it. They recognize they have deep problems and they recognize they need to do something about it and now they are going back and will try to do something about it. This was a very important wake up call to Europe.” What wake up call? What are they gonna do about it? They’re gonna do about it with the same thing the United States did about it, is throw money after bad debt. They knew what was going on over there. There’s no solving it and the big lie is that if only the brilliant people put their minds together and work as a unified force, and speak with the same propaganda, that it’s all going to be fixed. So, what it means is that this thing is gonna continue to collapse and, just as in the United States following the panic of ’08, when things should have collapsed a lot quicker, they pumped it up by all of this phony money. And they’re doing the same now in Europe, just with the fed. They’re doing it again. (more)