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BookmarkToday the top trends forecaster in the world told King World News that China’s stock market crash will crash along with their economy and this will create a full-blown global panic, but gold will shine.
Gerald Celente: “George Soros came out earlier in the week warning about the Chinese debt bubble, which is estimated now to be at about $30 trillion, up from $500 billion twenty years ago…
Gerald Celente continues: “Soros said:
“Stimulus can buy you additional time, but it makes the problem that much bigger.
That’s where we are.”
So when they talk about China’s growth now at 6.7 percent, they leave out the fact that the Chinese banks pumped in some $212 billion in new local currency loans in March. There was also the social financing of another $360 billion in the month of March.
– China’s Shocking Problem And Going Cashless As World Economies Crumble & Governments Eye Your SavingsCrash And Full-Blown Panic In China
China’s central bank just continues to stimulate the economy in order to aid its slowing growth. This isn’t a recovery in China, it’s a coverup. They are covering it up with cheap money. So when you here a guy like Soros coming out and warning that there is going to be a crash in China, and you put together the pieces, it’s more like a (full-blown) panic.”
Eric King: “Let’s talk about China’s new gold fix because Andrew Maguire told KWN that is China checkmating the West, and there is now enormous pressure building for a reset in the gold price. Your thoughts on gold.”
Gerald Celente: “Here is a quote from Roland Wang, who is the managing director for China at the World Gold Council:
“China needs a gold benchmark that reflects local market flows, and reduces gold prices dependency on the U.S. dollar. An Asian focused yuan denominated (gold) benchmark will significantly increase the liquidity and efficiency of the gold price discovery mechanism.”
Now let’s get this straight, this whole game was rigged back in 1919 by the Rothschilds when they put a group together to sit down and calculate the fair value of gold. You can’t make this stuff up. You’ve got a bunch of guys rigging the markets.
You know what happened last week. Gold was up $17 and then all the sudden the price of gold plunged into negative territory. And what did they estimate, some $2 billion of naked shorts?
King World News – Peter Boockvar – We’re Now Seeing The End Of Central Bank Influence On MarketsBanksters Guilty Of Rigging Markets
Six banks were convicted of felonies for rigging the markets, and these little clowns at the Financial Times come out and say, ‘Oh, they got one guy for rigging the gold market.’ The gold market is rigged because policies of the central banks have failed.
So by bringing the gold benchmark to China, with China being the largest buyer of gold, they are going to take it out of the hands of the Europeans and the United States, who are rigging the markets with their central bank games. Meanwhile, the U.S. is using the equity markets as a coverup to make the people believe that things are just fine as the economy is collapsing underneath them.
KWN
April 25, 2016
