Knight: I wanted to talk to you about this thing that just recently happened with Germany repatriating gold. What do you think about that? I mean, Obama doesn’t want to talk about what’s going on financially, he’d rather have his coronation parties and his ten million dollar Hawaiian vacation and go after our guns because he doesn’t really want to talk about what’s going on financially. Do you see that as a pretty significant event?
Celente: Well absolutely, there’s nothing mentioned about the unemployed in his whole speech. There’s nothing really mentioned, other than saying we’re on the road to recovery, you know, that’s just jive talk, so there’s really nothing of substance. And, when you look what happened, David, with what’s going on with Germany, there’s a lot to this story. The Germans, I mean, check it out man, I’m not suffering from ADHD, but it doesn’t take a lot to remember, hey, weren’t the English and the French and the Americans fighting the Germans in World War 2? Why would the Germans give the French, the Americans and the English all of their gold to hold? That’s the story. So, now what they’re doing is because of goings-on over there in Germany, matter of fact, I was just over in Munich recently when it just started to hit the fan, they want their gold back. And much of the gold is in the Federal Reserve in America, the Bank of France and in the Banks of England. So now they want it back, so here’s the deal. They’re not going to get all of it back until 2020. What, are they carrying us over one bar at a time, you know? I mean, what’s the big deal here? And then the other issue is, when you really look at the numbers, it’s about 122 billion Euros worth of gold. Guess what? That’s chump change. In a German economy, in a global economy, whose currencies are ostensibly have something behind them other than hot air. So, the fact, as I believe it, is that number one, the gold isn’t there, number two, if it is there, something’s going on and they’re not getting back, because, let’s face it, I mean what kind of imbecile would say it’s going to take seven years to carry this stuff back and forth? I mean, what are they gonna do, put it in Angela Merkel’s pockets and bring it back every time she comes to Washington!? I mean, who’s making this baloney up!?
So, the other factor is, then you look at the report. Here’s something, as a trend-tracking tip. I’ve been doing this over 30 years. And, one of the things that you learn, David, is every time the government comes out with information they’re required to put out, they usually do it on a Friday afternoon. That’s when all the people leave the bureaus, and Saturday is the least-read news day of the week, by far. So what’s the report that just came out? I’d like to read you this headline, because most people don’t know this. It goes back to the gold and the whole sham this thing is. Oh, and by the way, does this sound like a conspiracy theory? Figure this one out. How about those five lovely letters, LIBOR? You remember, the interest rate scandal. The banks were rigging the interest rates! Period, paragraph, it’s a fact, it’s no conspiracy theory, and neither is this. “Fed red-faced as notes reveal officials failed to grasp dangers of 2007 crisis.” This is from the Financial Times. This came out on the weekend when very few people were following the news. The toilet paper of record, the New York Times, they buried it back in the news section with some white-shoe-boy language that would never tip off what really went on, and you had to read well into the story to see the sham, the stupidity, the ineptness and the arrogance of the guys running the show. I’m pointing this out, not to say that we were right and they were wrong, more-so that the same jerks that didn’t see it coming, the same imbeciles who wouldn’t admit it when it was in front of them, are the same people that are now making the decisions. They continue to fail their way up to the top. Here’s what it says. “Top officials at the US Federal Reserve took months to realize that the 2007 financial crisis would rock the world’s largest economy, according to an embarrassing set of meeting transcripts released yesterday.” That’s great! I love that America fights around the world bringing freedom and democracy! Freedom and democracy!? They hold onto this stuff for five years! And, you know why they hold onto it? So they can keep rigging the game and so they can keep covering up their mistakes. And, because we the people are too damn stupid, and too undeserving, to have the information. Here it goes. “The transcripts reveal that Fed policy makers viewed the crisis, which erupted in August 2007 on the back of problems in the mortgage market for sub-prime mortgage loans, as good news because markets were pricing in more risk.” It goes on and on. They didn’t have a clue.
Knight: So, now, you mentioned about this gold transfer, you said it’s chump change. But, I guess one of the things that got peoples attention is this is the largest transfer, this will be the largest transfer that they’ve ever done, and the only countries prior to this that have repatriated anything are Iran, Venezuela, Libya. So this is the first time a western government has done has done it. It’s been because of public pressure, right? That people are pressuring them to get the gold back. So, what do you think they’re doing? Are they just bowing to public pressure? What’s going on with the gold transfer and how do you think that’ll effect gold prices? I mean, they’ve gone up, but is it gonna send it up even higher do you think?
Celente: To answer your questions. First of all you pointed out the three countries prior to Germany. Venezuela, they write Chavez off as some maniac. Libya, what was that guys name that they killed?
Knight: Gaddafi, right.
Celente: And who do they have sanctions against? Iran?
Knight: Yeah, that’s right.
Celente: Capisce? Ya get it? Yeah, this is only a show. Because, here, read the news. They’re debasing the currencies worldwide. As they debase the currencies, the only thing that’s going to be worth anything are objects of value, whether they’re diamonds, whether they’re silver or platinum, nickel, silver, gold of course. Anything that has value. Again, look at the news. The new Prime Minister of Japan, Abe, something he’s doing is he’s pressuring the Bank of Japan to print more worthless money. Listen to the words of Mervyn King, the outgoing head of the Bank of England. There’s a currency war. That’s what he said. Abe said the same thing. So too has Guido Mantega, the finance minister of Brazil. Pick up todays Financial Times. Read about how the Europeans are now unloading on the Japanese for the currency war. It’s something, we’ve seen this story before. It’s the panic of ’08, depression, currency wars, trade wars, world war, the crash of ’29, the Great Depression, currency wars, trade wars, world war. You go back, read history. You see what was going on in Japan. They flooded the market with cheap money under their Prime Minister, their finance guy. As a matter of fact the army ended up assassinating him because he wouldn’t keep dumping more money into the military. You go back to the 1930’s, the trade wars were going on. They’re heating up now. The reason it’s a big deal about Germany repatriating their gold is because it shows that that is the only thing of value in this whole ponzi scheme.
Knight: Exactly. And we’ve seen it shoot up a little bit, but it’s still well under $1,700 an ounce I think, right?
Celente: Yes, it’s a little under. I believe the game is rigged. Everyday, virtually, you pick up the papers, listen to the news, read about the insider trading scandals. I mentioned the LIBOR. You can’t get bigger than rigging the LIBOR! You’re talking about hundreds of trillions of dollars in loans and mortgages, in fixing the interest rates, and it’s not a conspiracy theory, it’s a fact! They have the emails that went to Timothy Geithner when he was president of the New York Fed. They have the emails that went into the Bank of England. It’s fact! So, if they’re rigging that, you think they’re rigging gold? Because when gold prices skyrocket, people will be bailing out of these worthless currencies, and panic is under way.
Knight: Absolutely. And the Forbes article, they quoted the Germans as saying they’re concerned about a currency crisis. So, you see this as part of a currency bubble that’s about hit, as well as, you mentioned war, right? That’s gonna go hand in hand with that. That’s one of your top trends coming up in Trends Journal, isn’t it, is war?
Celente: Yeah, unfortunately, it’s going on.