On the heels of a massive rally in the gold and silver markets, today the top trends forecaster spoke with King World News about Russia’s stunning moves in the gold market, and why this spells the end of America’s dominance of the world. Below is what Gerald Celente, who is founder of Trends Research and the man considered to be the top trends forecaster in the world, had to say in his fascinating interview.
Eric King: “Gerald, as you know, Russia has been buying a tremendous amount of gold recently — your thoughts on that.”
Celente: “There are a number of reasons they are buying it (gold). The ruble is going down, it’s really getting bashed, and this is a hedge against it. So when you are bringing in gold, and your currency is devaluing, it’s a definite hedge.
“So he (Sergey Glazyev) says:
“I believe that in a situation of growing military and political confrontation the gold price will go up again. And let’s not forget that America’s refusal to honor their debts will undermine trust in the dollar. Not just in this country, but in others. It will be a step toward the end of the American financial empire. It will give us a chance to be among the first to suggest a new configuration for the world financial system in which the role of national currencies would be significantly higher.”
Source King World News
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