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Saturday, September 24, 2011

Gerald Celente and I Are Buying Silver...Are You?

Gerald Celente continues:

“They have regulated the price of gold before, not that they will be able to do it, but I am concerned they will try something to regulate the supply (to the people) and the price of gold as the price eventually keeps going higher.  Silver to me is not going to have that kind of regulation imposed upon it.  

So I’m buying a position in silver against any future actions taken by the world governments to restrict the supply and the price of gold.  They did it before in the US, they will do it again.”

On August 30th, Celente announced to King World News that he had sold his entire position in Swiss francs.  When asked about his timely decision to sell and what he sees going forward Celente remarked, “Well they telegraphed it, and we’re looking at a currency war.  History is repeating itself.  We went through the panic and crash of 1929, the Great Depression, currency wars, trade wars and then World War II.  We went through the panic of 2008, we’re into the Great Recession/Great Depression and they are only keeping it together by printing money, and we have currency wars.

I knew that the Swiss could no longer take that of safe haven status because we kept hearing from their major exporters they couldn’t export when the currency was so expensive.  Same thing going on in Brazil, it’s a currency war.   So it’s very clear they are going to keep trying to devalue their currencies, which is why, of course, silver and gold prices will continue to go higher, even though we are in a downdraft right now....

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