Tuesday, December 06, 2011

[20-Oct-2011] Gerald Celente talks

This interview was recorded on October 20th 2011 in New York.


There is short description of the conversation below.
Ниже есть продолжение.

...Gerald talks about himself and how he started covering global trends. He talks about his experience in politics and how he became a political atheist.

They talk about the role of fiat money in creating our economic problems. Gerald Celente explains that he has been looking at gold since the beginning of the bull market, he missed the low of 250$$$ per ounce by only 25$$$. They talk about 1987, the bubble of the 1990s and the money printing that caused it. They talk about the lowering of interest rates after 2001. Gerald calls it cheap money: 'the more you print the cheaper it gets'. He says that digital dollars are not worth the paper that they are not printed on. They talk about the panic of 2008 and how every central bank started printing massively to "keep the Ponzi scheme going".

They talk about gold and whether it's currently in a bubble, Gerald makes fun of predictions by those that failed to see of anything that's happening now. He explains that the world economy is much larger now than in the 1980s and that the participation of China, India and the entire Eastern Europe this time around make this a completely different game. Societies that have been around for some time know the value of gold and understand the devaluation of paper currencies.

They talk about how modern portfolio theory classes gold as a "risk" asset. They talk about the disdain for gold in mainstream financial circles and how gold buyers are disparaged and called names. Gerald talks about how gold saved him in times of trouble.

They discuss the 1930s and gold revaluation and confiscation, they also talk about Argentina's "Corralito" in 2001. They talk about bank holidays and how gold served as protection against a collapse of the banking system.