Thread: Gerald Celente - Gold Standard Won't Save US Economy

Celente predicts gold standard won't save US economy

by Terrence Aym
Created on: May 26, 2011

Sometimes controversial trends analyzer Gerald Celente is forecasting that a return to the gold standard will not be enough to save the US economy from collapsing.

Celente is the publisher of Trends Journal and a consultant and adviser to many of America's top corporations. Celente has no ax to grind and calls himself a political atheist. An author, Celente appears regularly on many of the mainstream media's most watched news programs. He is prolific with his predictions on emerging trends concerning global finances and major historic turning points.

Recently he was asked his opinion on the idea of the US returning to the gold standard.

Although a solid core of gold bugs have advocated the US return to the gold standard for decades, many economists thought the idea radical and unworkable in the changing world economy. Now, however, more people and states are seriously considering the idea to stabilize the dollar and forestall a future currency crisis such as that experienced by the German Republic during the 1920s.

Recently, the state of Utah passed a law authorizing the minting of state gold and silver currency as a hedge against inflation and the weakening dollar.

People such as Steve Forbes have jumped on the gold bandwagon. Mr. Forbes said, "A return to the gold standard by the United States within the next five years now seems likely, since that move would help the nation solve a variety of economic, fiscal and monetary ills."

But Celente disagrees that returning to the gold standard will save the US economy. When asked if gold is a panacea for America's financial woes, Celente responded: "No, because the business of America is war…as opposed to the business of China is business. The United States has drained the Treasury before our eyes."

So what would a return to the gold standard accomplish? Can it save the US? Celente believes that "It will give other nations a more stable world reserve currency to deal with, because they don't want to get stuck with a lot of worthless paper."

And that's about it. Gold won't erase the debt, nor change the policies of the federal government. The Federal Reserve private banking system will find new ways to implement monetary policy and do an end run around the gold obstacle, so in the long run, he thinks, the pattern will remain basically unchanged and the trajectory is towards further economic deterioration.

Bleak prospects from one of America's most insightful trends guru.

Sources

Gerald Celente: 'Gold standard won't save US' http://www.youtube.com/watch?v=_huzvTgSLY8

Gerald Celente: 'Internet nuke bomb waiting to go off' http://www.youtube.com/watch?v=VO45VBO6 ... r_embedded

http://www.helium.com/items/2163631-ger ... us-economy

Celente - Spain's Protests To Go Worldwide

Forecast: Spain's protests to 'go global'

Published: May 27, 2011 at 4:35 PM
22 Comments

KINGSTON, N.Y., May 27 (UPI) -- Growing unrest in Spain will spread throughout Europe this summer and "go global" by winter, a U.S. trends forecaster said in an interview posted Friday.

"Young people have wised up. They know the score," Trends Research Institute Director Gerald Celente told King World News. "Those are the people that are ahead of all of these revolutions."

Inspired by the revolutionary wave of demonstrations and protests taking place in the Middle East and North Africa, tens of thousands of young Spaniards, expressing distress over 45 percent youth unemployment and severe government-imposed austerity measures, have taken over central squares in 60 cities -- including Madrid's busy Puerta del Sol -- seeking to overhaul Spain's socioeconomic and political systems, which they allege favor special interests, especially financial institutions.

Like the so-called Arab Spring, the growing Spanish movements are spread via social media networks and led in the streets by the young.

And "they're not leaving the streets," Celente told King World News, because "when you lose everything and have nothing left to lose, you lose it."

"These revolutions are going to spread through the summer in Europe, and by the winter it's going to go global," he said.

A French youth-led group plans a large demonstration in Paris this weekend in solidarity with Spain's protesters, known as "los indignados," or "the outraged." The French protest would follow Friday's close of the Group of Eight summit of world leaders, including U.S. President Barack Obama, in the French seaside resort town of Deauville.

Another Spanish-style uprising could emerge in neighboring Portugal next week, ahead of a June 5 snap election, The New York Times said.

Celente said Europe's Internet-savvy youth are "getting everyone out to join them because they know now that if they don't fight against the machine, the machine is going to grind them up."

http://www.upi.com/Top_News/US/2011/05/ ... t=mps&or=4