Celente Warns On Dollar and Euro - “Which One Is Going To Go First?”

GoldCore's picture

Today’s AM fix was USD 1,318.75, EUR 959.09 and GBP 791.14 per ounce.            

Yesterday’s AM fix was USD 1,314.00, EUR 957.59 and GBP 787.44 per ounce.  

Gold slipped on Wednesday and came off 14 week highs hit in the previous session as traders booked profits.

Gold in Euros,  5 Years - (Bloomberg)

Worries about global economic growth are underpinning gold's safe-haven appeal and the technicals suggest that after a pullback, the precious metal may continue to rise in dollar and other fiat currencies and in terms of the Dow Jones Industrial Average (see long term chart). A period of correction and consolidation would ordinarily be expected after such rapid gains.

Gold touched $1,332.10 an ounce yesterday, the strongest since October 31st, before shedding some of the gains. Bullion has risen around 9% so far this year. Premiums for gold bars in Singapore and Hong Kong remain steady and Hong Kong premiums were at $1.30 to $1.70 an ounce over spot London prices.  

Gold in U.S. Dollars, 1920 -February 18, 2014 - (Bloomberg)

Hedge funds and money managers have raised their speculative long positions in gold futures and options to a three-month high on signs the Fed will not rush to cut its stimulus, Commodity Futures Trading Commission (CFTC) data showed on Friday.

The Federal Reserve's January policy meeting minutes, when it decided to trim its money printing and U.S. government debt buying by $10 billion, are due for release at 1900 GMT. Traders will scrutinise the minutes for clues regarding whether the Fed will maintain their ultra loose monetary policies.

Trends forecaster, Gerald Celente, who correctly forecast the recent $10 billion taper, told
Russia Today overnight that the Federal Reserve is again “blowing bubbles,” as is the ECB.

After the Nasdaq and property bubbles, we now have huge debt bubbles being created, said Celente. This is leading to BRICS nations having concerns about a “monetary tsunami” and concerns about the euro and dollar and may lead to a new reserve currency for the world - possibly a basket of currencies.

This poses risks to both the dollar and the euro and both may fall in value in the coming months and the question is “which one is going to go first?”

Celente again warned of the economic parallels with the 1930’s and said that we are again seeing recession and depressions, currency wars, trade wars and that this would lead to actual wars.

Gerald Celente, Trends Research Institute

He warned that the cost of living is going to continue to rise and standards of living are set to fall. Although the official government inflation data may not show this, as they do not include energy and food. “After all we don’t have to eat or use fuel. What deranged mind would really include that into a core index.”

Celente concludes that the “books are being cooked, the numbers are a lot worse than they are showing and all the Fed is doing is pumping this up so that it looks like there is a recovery up until Election day.”

Webinar: Gerald Celente On Strategies For Protecting Your Wealth In 2014 And Beyond

Join Gerald Celente on this broadcast tomorrow as he examines the opportunities in 2014 and in the coming uncertain years.

Gerald Celente needs little introduction: Founder of The Trends Research Institute in 1980, Gerald Celente is a pioneer trend strategist. He is author of the national bestseller Trends 2000 and Trend Tracking (Warner Books) and publisher of the internationally circulated Trends Journal newsletter.

Celente's Trends Research Institute has been featured on Oprah Winfrey amongst hundreds of media interviews and credited with forecasting many major geopolitical and economic trends.

These include the "Panic of '08," the collapse of the Soviet Union, the dot-com bust, the 1997 Asian currency crisis, the 1987 world stock market crash, increased terrorism against America, "Crusades 2000," and the quagmire in Iraq … before war began and the last two recessions.


This webinar is scheduled for tomorrow, February 20, 2014 1:00 PM - 2:00 PM GMT and will be moderated by Mark O'Byrne, Head of Research at GoldCore.

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Two Theives and a Liar's picture

I believe it was Celente that coined the term "Presstitutes" ..For that alone I love him!

satoshi411's picture

Celente was SELLING his shit 40+ years ago, I can remember him at Rally's,..

This fuckhead has 're-invented' himself MORE times than Bob Dylan.

WHY? ZH posts his shit is telling.

But then Celente sells an assortment of newsletters that make SCIENTOLOGY look like amateurs in the world of SELF-HELP.

You can be sure that CELENTE is an advertiser with ABC-MEDIA.


Celente has CHARTS, and that's about it, and the charts don't mean shit.

wakablahh's picture

I registered to listen to the webinar... then i realized.. 1pm GST is at 5am PST

Lumberjack's picture

"Depends on the weather".

rsnoble's picture

A basket of currencies?  I've said this before........A basket full of shit vs. a basket full of assorted shit.

Just another shiny piece of fraud shit to keep some greedy little bug eyed banksters in complete control.  Well motherfuckers.......I hope you get some fucking radiation also.

fijisailor's picture

Although he may have some good things to say I have a hard time listening to Celente.  He sounds like a born again preacher.

Rafferty's picture

I like him but he's been saying for the last 5 years that the dollar's going to collapse nect month.

willwork4food's picture

That would take a black swan event in the next60 days. Damn, just as I was starting to make some good coin.

Mad Mohel's picture

Didn't this guy get done dry in the MF Global debacle?  I don't know if I would put too much weight on the prognostications of a guy that allowed himself to get royally Corzined.

Volaille de Bresse's picture

Celente's back... that means his asshole has completely healed from the Gold ETF buttfuck he got last year? 

SmallerGovNow2's picture

he was buying gold futures FOR DELIVERY...

MeelionDollerBogus's picture

And how smart is that? I was buying gold COINS for delivery. I got mine.

Radical Marijuana's picture

“... books are being cooked,

the numbers are a lot worse"

That summarizes everything important!!!

goldhedge's picture

Time for the Occupy movement to start up again.


besnook's picture

anyone but those limp wristed fems. the usa needs the hells' angels.

satoshi411's picture

The hell's angels were WWII fighter pilots that were kept awake with 'Nazi Meth",...

When they returned post WWII they were bored, and road bikes, cooked NAZI-METH,... and had fun.

Today the children of HA run the US government and cop shop, and you wonder why and how the USA became a nation of meth-heads.

Yes, the HA would be better than PELOSI running the OCCUPY, but we already have a gubmint that run's by brute force, aka murder and mayhem.


TheAnswerIs42's picture

Mebbe Doolah first?

The Fed’s quantitative easing has resulted in a glut of liquidity in financial markets which have gone on to invest this money where true productive dynamics provide investment and fruitful opportunities: in the emerging countries. Obviously, this flood of easy money has artificially supported growth in these countries, which should have been lower in this time of crisis. Even worse, in 2013, it caused a revival of the world before’s tenets, a world in which money is only used to borrow more money, with a programme of re-financialization, more indebtedness, more Dollar addiction, the planet’s re-entanglement and further unbridled globalization without taking people’s interests into account (for example, providing a lifeline to the tedious negotiations over the trans-Pacific TPP and transatlantic TTIP free trade treaties), etc.

This soaking-up of Dollars by the only countries having sufficient growth to be able to use them explains, to a great extent, the lack of any Dollar devaluation or inflation in the US notwithstanding the Fed’s policy: the devaluation which should have gone hand-in-hand with such money creation has been absorbed by the rest of the planet’s economic dynamism.

Since the beginning of January the Fed has reduced its purchases by $10 billion a month, and by a further $10 billion a month from the beginning of February, to monthly purchases of $30 billion in mortgages and $35 billion in Treasury bonds currently. However, this decline in support means that a quarter of the indirect “aid” to emerging countries has gone… Therefore, it’s logical that there is a fall in economic activity in these countries and, consequently, their currencies (6).

This is where the boomerang effect begins. First, Western investments in emerging economies are worth less since the currency is devalued; therefore, a portion of investors’ assets have well and truly disappeared, causing severe stress in financial markets. But, more importantly, to halt the decline of their currency, emerging countries’ central banks are selling their dollar reserves to buy back their own currency on the markets (7), resulting in a surplus of dollars and an increase in demand for the local currency, causing it to rise automatically (8). For example, in such a period Turkey, India, Brazil and Indonesia among others, have each offloaded in the order of tens of billions of Dollars per month (9).

This means that Dollar buyers, the emerging countries, have become sellers. In other words, the only countries able to absorb excess Dollars are now refusing them. Let’s recapitulate: the Fed and the Treasury continue to flood the world with $65 billion a month, but no one wants them… Where can they dump them now? In a few oil producing countries which still sell in Dollars, but especially in the US of course. And what can this country’s lifeless economy do with them? Not a lot… certainly less than the emerging countries did (10).





grekko's picture

Answer, the only reason the EMs were growing is because there were plenty of jobs available. The jobs that were outsourced from the USA.

TheAnswerIs42's picture

Yes, but there is (was) the carry trade...


ebear's picture

"Celente's Trends Research Institute has been featured on Oprah Winfrey"


LOL!!! Next stop, The Muppet Show.

jimmytorpedo's picture

You haven't made it until you've guest starred on The Muppet Show!

ZHedgers on the Muppets


and Obama on the Muppets,..


I learned a lot from The Muppets

J S Bach's picture

I like Eric King's style better...

He always sounds like he's in pain.