Celente: “I’m in the camp of everyone else out there that really follows
this, that the paper trading and (with) the naked shorts is one way of buying
gold and trading gold, but that’s not the real market. That’s the manipulated
market.
On the
hard asset market, taking physical delivery of gold, it’s still very strong
around the world. So there are the two worlds....
“There
is the world that’s manipulating gold and the world that is buying gold. And in
the world that’s manipulating gold all we have to do is look at the beginning of
the week when Fed Chairman Bernanke came out and talked about whether or not
they were going to keep interest rates low, or (have) more quantitative easing,
and (then) we saw the reaction on the Street (Wall Street).
Following that gold spiked and then of course pulled
back a bit, but for no reason at all because as you are looking at the real
market conditions, there is no (economic) recovery, period. What have they
dumped in, Eric? Some $17 trillion since the panic of 2008 hit, between
quantitative easing and pumping money into the system.
Look at
the numbers coming out, the recovery is tepid at best and now you have a
slowdown in China. You still have a slowdown in Europe. It’s only getting
worse over there. Interest rates are at record lows and gold should be at
record highs.
But
it’s not in the interest of the central bankers around the world to have high
gold prices because if gold prices were high, then people would realize that
they don’t have any value in buying paper garbage. And that’s all this is.
They (central planners) are driving down gold prices to keep their paper garbage
at a salable price so that people still believe in the failing system.”
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