Submitted by Mac Slavo, SHTFPlan:
If there’s one thing everyone can agree on in an environment where economic data has been skewed, repeatedly revised and outright manipulated, it’s that we are seeing extreme volatility throughout the global marketplace. “From Shanghai to New York”, says highly acclaimed globaltrend forecaster Gerald Celente, “to stocks, bonds and oil prices, it’s swing time.”
And while most retail investors around the world continue to pump their money into propaganda-built markets that include over bloated stocks and real estate investments, those in the know are preparing for the inevitable crash because, as Celente notes, “the worst is yet to come.”
In his latest interview Celente sheds more light on a recent report that China is preparing for something very big by hedging its bets against the real possibility of a global currency crisis stemming from a collapse in the U.S. dollar. The Chinese, along with Russia and other nations, are in the midst of an unprecedented accumulation of gold in advance of a paradigm shift that is sure to uproot the entire global monetary system as we know it today.
Via King World News:
Everybody knows what’s going on. The only reason the equity markets are moving up to the levels they are, are the record amounts of cheap money being pumped into the system.
So, when we look at why they’re [China] buying gold… what you’re looking at is virtually every day since the New Year began, volatility has been the name of the financial market game. So you see from Shanghai to New York, to stocks, bonds and oil prices, it’s swing time, man.
So the markets are moving on fake news that means nothing. The facts remain the same. There has been no recovery. It’s a cover-up.
It was a cover-up from the beginning when they came out with too-big-to-fails and TARP. They threw a tarp over the big lie to keep the Ponzi scheme going.
One of our keynote speakers was Nomi Prins, who wrote the book All the President’s Bankers… As it would have it, two days before our conference she was a keynote speaker at the Federal Reserve.
She spoke to members of the Federal Reserve, the IMF and the World Bank.
And I said to her, ‘Nomi what was the one thing you learned?’
She said, ‘I learned that they don’t know what they’re doing. They don’t have a clue. They’re in uncharted waters and they’re faking it.’
The Chinese know it. The Russians know it. And even leaders of the Federal Reserve and U.S. government know it.
In response, despite the manipulations in the prices of precious metals through paper trading markets, countries and ultra-wealthy individuals around the world are rapidly acquiring the one asset that has stood the test of time for thousands of years as a store of value and wealth.
According to Celente, when the Ponzi scheme is finally revealed to the broader public, we’ll see a massive upswing in precious metals:
Here’s what we’re forecasting…
We’re forecasting a rapid rise in gold prices as speculators and survivors place their bets on safe haven assets… whether it’s gold or silver.
Because, when this next Ponzi scheme collapses we are forecasting that you’re going to see spikes up in gold that mirror the charts that you put up there and the spikes up in all the fake money that they’ve been printing. They’re going to follow it identically.
So, is $20,000 [per ounce of gold] on the horizon?
I don’t know.
But what we’re saying is… it’s going to go beyond the level it hit at the high in 2011 and start pumping way above $2,000 an ounce.
The writing is on the wall. Trillions of dollars are being printed out of thin air to keep the system afloat for just a bit longer. Eventually, confidence in the U.S. dollar will be lost on a global scale. The Chinese and Russians will pull the plug. Investors will follow.
The rush to gold as a safe haven asset will come next.